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Property profile & analytics
FOR LEASE
Office buildings
2 Central Ave 1800 Phoenix, AZ 85004
Individually Owned
2-yr Hold
Free & Clear
Property ID
US07-0088603
For Lease
1 / 15
$129-$12,036/Mo
2 Central Ave,Unit 1800, Phoenix, AZ 85004
View Listing →
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1986
Construction
STEEL FRAME
Total area
528,000 SF
Lot
0.95 ac (41,540 SF)
Zoning code
DTC-BCORE
APN
112-21-086
UPID
US07-0088603
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
SCRAM of Arizona Social Service Agency Medical Clinic
-
Karl Donald J Law Firm
-
Crabb Joseph M Law Firm
-
Miles Robert E Law Firm
-
LifeStart At the Renaissance Athletic Club Gym & Fitness Center
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.09M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.09M
Owner & transaction history
Kristan Kelsch · 2 yrs held
Kristan Kelsch
since 2024
Last sale
$1.1M
7 recorded transactions
Zoning & alternative use
DTC-BCORE · Phoenix, AZ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Phoenix submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Phoenix submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$1,090,000
ML approach
$1,090,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$1.09M
Range $981k – $1.20M · ±10% · vs last sale $1.09M (Jan 18 2024)
Last sale anchor
$1.09M
Jan 18 2024
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$2 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$66,536
Tax year 2023
Assessed value
$31,326,289
Assessed 2024
Previous assessed
$24,076,095
+30.1% YoY
Effective rate
0.21%
On assessed value
Land market value
$4,154,000
Improvement market value
$204,687,925
Total market value
$208,841,925
Applied tax rate
11,301.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office buildings
Use group
OFFICE BUILDING
Status
For Lease
Year built
1986
Construction
STEEL FRAME
Heating
HOT WATER
Cooling
REFRIGERATOR
Buildings
2
Stories
26
Units
2
Total area
528,000 SF
Lot
0.95 ac (41,540 SF)
Zoning code
DTC-BCORE
APN
112-21-086
UPID
US07-0088603
Jurisdiction
MARICOPA
Zoning & alternative use
DTC-BCORE · Phoenix, AZ
Zoning DTC-BCORE · permitted uses
DTC-BCORE · Phoenix, AZ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Phoenix. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1986
Construction
STEEL FRAME
Heating
HOT WATER
Cooling
Yes
Stories
26
Buildings
2
Units
2
Lot
0.95 ac
Current owner
From public records · entity-resolved
Kristan Kelsch
Individual
Free & Clear · 2 yrs held
Mailing address
7631 E CHAPARRAL RD, SCOTTSDALE, AZ 85250-7751
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
11 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 18, 2024
—
Kristan Kelsch
Kristan Kelsch
Intrafamily Transfer
related
—
Oct 11, 2023
—
Phoenix Rs One LLC
—
Deed
related
$159,500,000 · Athene Annuity & Life Assurance Company
Aug 2, 2018
—
Phoenix Rs One LLC
—
Grant Deed
related
$159,500,000 · Athene Annuity Life Assurance
Apr 5, 2012
—
Hines One Renaissance Sq LP
—
Deed Of Trust
related
$43,500,000 · J P Morgan Chase Bank
Dec 31, 2007
$1,092,000
Hines One Renaissance Square LP
One Renaissance LLC
Special Warranty Deed
—
Jun 30, 2005
$128,800,000
One Renaissance LLC
Maguire Props-one Renaissance
Grant Deed
—
Jun 30, 2005
—
One Renaissance LLC
Owner Name Unavailable
Grant Deed
related
—
Mar 18, 2005
$120,000,000
Properties-one Rena Maguire
Fifth Street Properties Ll
Grant Deed
$103,600,000 · * Other Institutional Lenders
Jul 1, 1988
—
Phoenix City Of
—
Deed Of Trust
related
—
—
—
Daniel M Debusk
—
Deed Of Trust
related
$88,500 · Fmc Mortgage Co
—
—
Michael A King
—
Deed Of Trust
related
$98,527 · Fmc Mortgage Co
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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