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Property profile & analytics
OFF-MARKET
Estimated value
$16,705,000
Assisted living facilities
20221 29th Ave, Phoenix, AZ 85027-3133
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US07-0735203
Property profile
Verified
Property type
Assisted living facilities
Use group
HOMES (RETIRED, NURSING)
Year built
1999
Construction
CONCRETE
Total area
72,760 SF
Lot
3.34 ac (145,380 SF)
Zoning code
C-2
APN
206-08-382
UPID
US07-0735203
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$16.88M
Blend (final)
Blend
$16.71M
Owner & transaction history
Th Phoenix N 29 Ave LLC · 2 yrs held
Th Phoenix N 29 Ave LLC
since 2023
6 recorded transactions
Zoning & alternative use
C-2 · Phoenix, AZ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$27.0M
+63.9%
Retail stores
$21.7M
+31.5%
Medical building
$19.3M
+17.2%
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
HOMES (RETIRED, HANDICAP, REST, CONVALESCENT, NURSING)
$16,485,000
Current use
OFFICE BUILDING
$27,010,000
Change: +64% · Conversion: Difficult
RETAIL STORES
$21,680,000
Change: +32% · Conversion: Difficult
MEDICAL BUILDING
$19,315,000
Change: +17% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$18,520,000
Change: +12% · Conversion: Difficult
Blend value · Realmo final
$16.71M
Range $15.03M – $18.38M · ±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
$230 / 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
$102,817
Tax year 2023
Assessed value
$1,565,149
Assessed 2024
Previous assessed
$1,301,920
+20.2% YoY
Effective rate
6.57%
On assessed value
Land market value
$2,251,100
Improvement market value
$13,400,392
Total market value
$15,651,492
Applied tax rate
971,300.0000
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
Assisted living facilities
Use group
HOMES (RETIRED, NURSING)
Status
Off-Market
Year built
1999
Construction
CONCRETE
Heating
PACKAGE
Cooling
YES
Stories
4
Units
126
Total area
72,760 SF
Lot
3.34 ac (145,380 SF)
Zoning code
C-2
APN
206-08-382
UPID
US07-0735203
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
HOMES (RETIRED, HANDICAP, REST, CONVALESCENT, NURSING) Current
Est. value
$16.5M
OFFICE BUILDING
Est. value
$27.0M
RETAIL STORES
Est. value
$21.7M
MEDICAL BUILDING
Est. value
$19.3M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$18.5M
HOMES (RETIRED, HANDICAP, REST, CONVALESCENT, NURSING) Current
OFFICE BUILDING
RETAIL STORES
MEDICAL BUILDING
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
1999
Construction
CONCRETE
Heating
PACKAGE
Cooling
Yes
Stories
4
Units
126
Lot
3.34 ac
Current owner
From public records · entity-resolved
Th Phoenix N 29 Ave LLC
Entity
Mailing address
1702 OLYMPIC BLVD, SANTA MONICA, CA 90404-3812
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 21, 2023
—
Th Phoenix N 29 Ave LLC
Nfaz Wf LLC
Lease
$12,600,000 · Sunflower Bank NA
Jun 16, 2017
$8,336,000
Ridgeline 20221 N 29th Ave Property
Pv Deer Valley LLC
Special Warranty Deed
$10,650,000 · Mutual Of Omaha Bank
Mar 2, 2015
$6,350,000
Pv Deer Valley LLC Valley L
Inns Of Arizona LLC
Grant Deed
—
—
—
Inns Of Arizona LLC
—
Deed Of Trust
related
$500,000 · Douglas E Heltne
—
—
Inns Of Arizona LLC
—
Deed Of Trust
related
$1,975,000 · John N Allen
—
—
Inns Of Arizona LLC
—
Deed Of Trust
related
$7,400,000 · Pnc Bank
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.
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