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Property profile & analytics
OFF-MARKET
Estimated value
$105,925,000
Showrooms
2225 43rd Ave Ste 1, Phoenix, AZ 85009-6001
Individually Owned
1-yr Hold
~
Est. High Equity
Property ID
US07-0255797
Property profile
Verified
Property type
Showrooms
Use group
SHOW ROOM, WAREHOUSE
Year built
1989
Construction
CONCRETE
Total area
249,331 SF
Lot
13.24 ac (576,822 SF)
Zoning code
A-1
APN
105-15-017B
UPID
US07-0255797
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
$105.93M
Blend (final)
Blend
$105.93M
Owner & transaction history
Havelock Logistics West 2 Assets Ll · 1 yrs held
Havelock Logistics West 2 Assets Ll
since 2024
7 recorded transactions
Zoning & alternative use
A-1 · 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
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
COMMERCIAL (GENERAL)
$164,225,000
Current use
RESTAURANT
$133,150,000
Change: -19% · Conversion: Difficult
Blend value · Realmo final
$105.93M
Range $95.33M – $116.52M · ±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
$425 / 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
$211,209
Tax year 2023
Assessed value
$4,601,009
Assessed 2024
Previous assessed
$4,131,391
+11.4% YoY
Effective rate
4.59%
On assessed value
Land market value
$3,337,300
Improvement market value
$24,547,600
Total market value
$27,884,900
Applied tax rate
21,300.0000
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
Showrooms
Use group
SHOW ROOM, WAREHOUSE
Status
Off-Market
Year built
1989
Construction
CONCRETE
Heating
PACKAGE
Cooling
YES
Stories
1
Total area
249,331 SF
Lot
13.24 ac (576,822 SF)
Zoning code
A-1
APN
105-15-017B
UPID
US07-0255797
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
COMMERCIAL (GENERAL) Current
Est. value
$164.2M
RESTAURANT
Est. value
$133.2M
COMMERCIAL (GENERAL) Current
RESTAURANT
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
1989
Construction
CONCRETE
Heating
PACKAGE
Cooling
Yes
Stories
1
Lot
13.24 ac
Current owner
From public records · entity-resolved
Havelock Logistics West 2 Assets Ll
Individual
Mailing address
PO BOX 847, CARLSBAD, CA 92018-0847
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
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 4, 2024
—
Havelock Logistics West 2 Assets Ll
Dawson Logistics Assets LLC
Special Warranty Deed
—
Mar 19, 2019
—
Dawson Logistics Assets LLC
—
Grant Deed
related
$475,000,000 · Miscellaneous Ins Co
Apr 27, 2018
$19,800,000
Dawson Logistics Assets LLC
Exeter 2225 South 43rd LLC
Grant Deed
—
Jun 27, 2017
—
Exeter 2225 South 43rd LLC
—
Loan Modification
related
$175,000,000 · Wells Fargo Bk
Mar 18, 2014
$13,200,000
Exeter 2225 South 43rd LLC
Prologis LP
Grant Deed
—
Aug 2, 2011
$9,125,000
Prologis LP
Mililani Group INC
Grant Deed
—
—
—
Mililani Group INC
—
Deed Of Trust
related
$2,650,000 · American United Life Ins 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.
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