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Property profile & analytics
OFF-MARKET
Estimated value
$18,835,000
Flex space
21410 15th Ln Phoenix, AZ 85027-2739
Entity Owned
6-yr Hold
~
Est. High Equity
Property ID
US07-0071248
Property profile
Verified
Property type
Flex space
Use group
LIGHT INDUSTRIAL
Year built
2003
Construction
CONCRETE
Total area
56,680 SF
Lot
4.84 ac (210,892 SF)
Zoning code
A-1
APN
209-25-050
UPID
US07-0071248
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
-
3 Phase Electric Electrical Service General Contractor
-
Eclipse Motor Co. Car Dealership
-
Kinematics Industrial Manufacturer Production Facility
-
AVmedia Inc. Film Production Television Studio
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$18.83M
Blend (final)
Blend
$18.84M
Owner & transaction history
M Industrial Property Deer · 6 yrs held
M Industrial Property Deer
since 2019
5 recorded transactions
Zoning & alternative use
A-1 · Phoenix, AZ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$30.3M
+169.0%
Auto repair, garage
$24.0M
+112.9%
Office building
$21.0M
+87.0%
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
RESTAURANT
$30,270,000
Change: +169% · Conversion: Difficult
AUTO REPAIR, GARAGE
$23,950,000
Change: +113% · Conversion: Easy
OFFICE BUILDING
$21,040,000
Change: +87% · Conversion: Difficult
RETAIL STORES
$16,890,000
Change: +50% · Conversion: Moderate
MEDICAL BUILDING
$15,045,000
Change: +34% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$14,425,000
Change: +28% · Conversion: Difficult
Blend value · Realmo final
$18.84M
Range $16.95M – $20.72M · ±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
$332 / 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
$81,841
Tax year 2023
Assessed value
$1,688,132
Assessed 2024
Previous assessed
$1,442,637
+17.0% YoY
Effective rate
4.85%
On assessed value
Land market value
$2,291,200
Improvement market value
$7,939,900
Total market value
$10,231,100
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
Flex space
Use group
LIGHT INDUSTRIAL
Status
Off-Market
Year built
2003
Construction
CONCRETE
Heating
PACKAGE
Cooling
YES
Stories
1
Total area
56,680 SF
Lot
4.84 ac (210,892 SF)
Zoning code
A-1
APN
209-25-050
UPID
US07-0071248
Jurisdiction
MARICOPA
Zoning & alternative use
A-1 · Phoenix, AZ
Zoning A-1 · permitted uses
A-1 · 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
RESTAURANT
Est. value
$30.3M
AUTO REPAIR, GARAGE
Est. value
$24.0M
OFFICE BUILDING
Est. value
$21.0M
RETAIL STORES
Est. value
$16.9M
MEDICAL BUILDING
Est. value
$15.0M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$14.4M
RESTAURANT
AUTO REPAIR, GARAGE
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
2003
Construction
CONCRETE
Heating
PACKAGE
Cooling
Yes
Stories
1
Lot
4.84 ac
Current owner
From public records · entity-resolved
M Industrial Property Deer
Entity
Mailing address
2 SEAPORT LN, BOSTON, MA 02210-2001
Ownership since
2019
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 4, 2019
$23,050,000
M Industrial Property Deer
Meritex Phoenix LLC
Grant Deed
$11,500,000 · Thrivent Fin'l/lutherans
Oct 2, 2014
$17,675,000
Deer Valley Meritex
Meritex Deer Valley LLC
Grant Deed
$11,500,000 · Thrivent Fin'l/lutherans
Mar 7, 2014
$17,675,000
Meritex Deer Valley LLC Val
Carlson R Of E Co Lllp
Grant Deed
—
Jan 23, 2006
$19,075,000
Carlson Real Estate Co
Mack Deer Valley LLC
Grant Deed
$10,109,306 · Transamerica Life Insurance Co
—
—
Mack Deer Valley LLC
—
Deed Of Trust
related
$10,375,000 · Transamerica Life Insurance 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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