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Property profile & analytics
OFF-MARKET
Estimated value
$1,775,000
Flex space
2225 Mcdowell Rd Phoenix, AZ 85006-2465
Entity Owned
6-yr Hold
~
Est. High Equity
Property ID
US07-0295012
Property profile
Verified
Property type
Flex space
Use group
LIGHT INDUSTRIAL
Year built
1958
Construction
CONCRETE
Total area
7,000 SF
Lot
0.69 ac (30,000 SF)
Zoning code
C-2
APN
116-05-141A
UPID
US07-0295012
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
-
Urban Plough LLC Production Facility Factory
-
CLAY Architecture & Design Architecture Firm
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.17M
Blend (final)
Blend
$1.78M
Owner & transaction history
Noble Rex LLC · 6 yrs held
Noble Rex LLC
since 2020
Last sale
$1.4M
7 recorded transactions
Zoning & alternative use
C-2 · Phoenix, AZ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$3.0M
+92.1%
Office building
$2.1M
+36.4%
Medical building
$1.9M
+20.7%
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
$1,740,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$1,540,000
Current use
AUTO REPAIR, GARAGE
$2,960,000
Change: +92% · Conversion: Easy
OFFICE BUILDING
$2,100,000
Change: +36% · Conversion: Difficult
MEDICAL BUILDING
$1,860,000
Change: +21% · Conversion: Difficult
WAREHOUSE, STORAGE
$1,815,000
Change: +18% · Conversion: Easy
NEIGHBORHOOD: SHOPPING CENTER
$1,780,000
Change: +16% · Conversion: Difficult
Blend value · Realmo final
$1.78M
Range $1.60M – $1.95M · ±10% · vs last sale $1.40M (Jun 17 2020)
Last sale anchor
$1.40M
Jun 17 2020
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
$254 / 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
$12,096
Tax year 2023
Assessed value
$184,850
Assessed 2024
Previous assessed
$162,112
+14.0% YoY
Effective rate
6.54%
On assessed value
Land market value
$681,200
Improvement market value
$439,100
Total market value
$1,120,300
Applied tax rate
141,300.0000
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
1958
Construction
CONCRETE
Heating
NONE
Stories
1
Total area
7,000 SF
Lot
0.69 ac (30,000 SF)
Zoning code
C-2
APN
116-05-141A
UPID
US07-0295012
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
INDUSTRIAL (GENERAL) Current
Est. value
$1.5M
AUTO REPAIR, GARAGE
Est. value
$3.0M
OFFICE BUILDING
Est. value
$2.1M
MEDICAL BUILDING
Est. value
$1.9M
WAREHOUSE, STORAGE
Est. value
$1.8M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.8M
INDUSTRIAL (GENERAL) Current
AUTO REPAIR, GARAGE
OFFICE BUILDING
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
1958
Construction
CONCRETE
Heating
NONE
Stories
1
Lot
0.69 ac
Current owner
From public records · entity-resolved
Noble Rex LLC
Entity
Mailing address
3722 E KRISTAL WAY, PHOENIX, AZ 85050-6374
Ownership since
2020
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 17, 2020
$1,400,000
Noble Rex LLC
Marill Moore Studios Lllc
Special Warranty Deed
$2,510,000 · Pacific Western National Bank
Dec 13, 2019
—
Marill Moore Studios LLC
—
Deed
related
$200,000 · Ttf LLC
Feb 28, 2017
—
Marill Moore Studios LLC
—
Deed
related
$664,000 · Bank Of Az
Aug 8, 2016
$560,000
Marill Moore Studios LLC
2225 Mcdowell LLC
Grant Deed
$525,000 · Ear Houses LLC
Mar 2, 2011
—
2225 Mcdowell LLC
Gerstner Family Trust
Grant Deed
related
—
Oct 5, 1999
$270,000
Robert Gerstner
Scarf,irwin & Gloria
Grant Deed
$216,000 · Bank One Arizona
—
—
Marill Moore Studios LLC
—
Deed Of Trust
related
$200,000 · Ttf LLC
—
—
Marill Moore Studios LLC
—
Deed Of Trust
related
$664,000 · Bank Of Az
—
—
Robert Gerstner
—
Deed Of Trust
related
$187,613 · Bank One NA
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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