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Property profile & analytics
FOR LEASE
Office buildings
2020 N Central Ave, Phoenix, AZ 85004
Entity Owned
1-yr Hold
Free & Clear
Property ID
US07-0326761
For Lease
$26 SF/Yr
2020 N Central Ave, Phoenix, AZ 85004
View Listing →
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1985
Construction
CONCRETE
Total area
228,760 SF
Lot
2.46 ac (107,219 SF)
Zoning code
C-2
APN
118-51-111A
UPID
US07-0326761
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
-
Buckley King Lpa Law Firm
-
arizona 529 plan Consultant
-
CB Richard Ellis Real Estate Agency
-
Arizona Ombudsman-Citizens' Aide Government Office
-
Saba Tesfamariam Pediatrician Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$64.81M
Blend (final)
Blend
$64.81M
Owner & transaction history
2020 N Central LLC · 1 yrs held
2020 N Central LLC
since 2025
4 recorded transactions
Zoning & alternative use
C-2 · Phoenix, AZ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$96.7M
+39.8%
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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$69,145,000
Current use
AUTO REPAIR, GARAGE
$96,665,000
Change: +40% · Conversion: Difficult
RETAIL STORES
$68,165,000
Change: -1% · Conversion: Moderate
MEDICAL BUILDING
$60,720,000
Change: -12% · Conversion: Easy
WAREHOUSE, STORAGE
$59,370,000
Change: -14% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$58,225,000
Change: -16% · Conversion: Difficult
Blend value · Realmo final
$64.81M
Range $58.33M – $71.29M · ±10%
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
$283 / 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
$412,301
Tax year 2023
Assessed value
$7,157,452
Assessed 2024
Previous assessed
$9,402,233
-23.9% YoY
Effective rate
5.76%
On assessed value
Land market value
$6,969,200
Improvement market value
$37,171,732
Total market value
$44,140,932
Applied tax rate
11,300.0000
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
1985
Construction
CONCRETE
Heating
HOT WATER
Cooling
REFRIGERATOR
Buildings
3
Stories
12
Units
3
Total area
228,760 SF
Lot
2.46 ac (107,219 SF)
Zoning code
C-2
APN
118-51-111A
UPID
US07-0326761
Jurisdiction
MARICOPA
Zoning & alternative use
C-2 · Phoenix, AZ
Zoning C-2 · permitted uses
C-2 · 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.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$69.1M
AUTO REPAIR, GARAGE
Est. value
$96.7M
RETAIL STORES
Est. value
$68.2M
MEDICAL BUILDING
Est. value
$60.7M
WAREHOUSE, STORAGE
Est. value
$59.4M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$58.2M
OFFICE BUILDING Current
AUTO REPAIR, GARAGE
RETAIL STORES
MEDICAL BUILDING
WAREHOUSE, STORAGE
NEIGHBORHOOD: SHOPPING CENTER
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1985
Construction
CONCRETE
Heating
HOT WATER
Cooling
Yes
Stories
12
Buildings
3
Units
3
Lot
2.46 ac
Current owner
From public records · entity-resolved
2020 N Central LLC
Entity
Free & Clear · 1 yrs held
Mailing address
18881 VON KARMAN AVE STE #800, IRVINE, CA 92612-1571
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 25, 2025
—
2020 N Central LLC
2020 Central Spe LLC
Special Warranty Deed
—
Mar 7, 2019
$23,888,888
2020 Central Spe LLC
Arizona Central Cu
Special Warranty Deed
$20,225,000 · Western Alliance Bank
Aug 29, 2005
—
City Of Phoenix
Arizona Central Cu
Warranty Deed
—
—
—
Central Phoenix Partners LLC
—
Deed Of Trust
related
$305,000 · Bridgeview Bank Group
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
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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