Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$580,000
Warehouses
224 5th Ave Phoenix, AZ 85003-1614
Entity Owned
9-yr Hold
Free & Clear
Property ID
US07-1101583
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1945
Construction
CONCRETE
Total area
7,075 SF
Lot
0.16 ac (7,099 SF)
Zoning code
DTC-VANB
APN
112-20-097
UPID
US07-1101583
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
-
Phoenix School of Flower Design Vocational School
-
One of A Kind (Bike/Boat/Book/etc) Store Florist
-
We Got Flowers Big Box & Wholesale Store
-
ACME Photography Photography Service (Bike/Boat/Book/etc) Store
-
Project 52 Photography Service (Bike/Boat/Book/etc) Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.76M
Blend (final)
Blend
$580k
Owner & transaction history
David M Siegel LLC · 9 yrs held
David M Siegel LLC
since 2017
1 recorded transaction
Zoning & alternative use
DTC-VANB · Phoenix, AZ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The intent of the Van Buren character area is to establish a dense, vibrant, urban mixed-use area that is a center for commerce and high-rise urban living. This area comprises some of the tallest height entitlements within the City
Zone name
Downtown Code Van Buren
General category
MIXED_USE
Zone area
75.89 ac
Source
Realmo
Top alternative use upside
Office building
$2.1M
+15.6%
Retail stores
$2.1M
+14.8%
Medical building
$1.9M
+2.3%
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
WAREHOUSE, STORAGE
$1,835,000
Current use
OFFICE BUILDING
$2,125,000
Change: +16% · Conversion: Difficult
RETAIL STORES
$2,110,000
Change: +15% · Conversion: Moderate
MEDICAL BUILDING
$1,880,000
Change: +2% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$1,800,000
Change: -2% · Conversion: Moderate
Blend value · Realmo final
$580k
Range $522k – $638k · ±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
$82 / 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 2022Property tax & assessments
Tax year 2022
Tax billed
$10,484
Tax year 2022
Assessed value
$147,461
Assessed 2024
Previous assessed
$128,843
+14.5% YoY
Effective rate
7.11%
On assessed value
Land market value
$709,900
Improvement market value
$183,800
Total market value
$893,700
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
1945
Construction
CONCRETE
Heating
PACKAGE
Cooling
YES
Stories
1
Total area
7,075 SF
Lot
0.16 ac (7,099 SF)
Zoning code
DTC-VANB
APN
112-20-097
UPID
US07-1101583
Jurisdiction
MARICOPA
Zoning & alternative use
DTC-VANB · Phoenix, AZZoning DTC-VANB · permitted uses
DTC-VANB · Phoenix, AZ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The intent of the Van Buren character area is to establish a dense, vibrant, urban mixed-use area that is a center for commerce and high-rise urban living. This area comprises some of the tallest height entitlements within the City
Zone name
Downtown Code Van Buren
General category
MIXED_USE
Zone area
75.89 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$1.8M
OFFICE BUILDING
Est. value
$2.1M
RETAIL STORES
Est. value
$2.1M
MEDICAL BUILDING
Est. value
$1.9M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.8M
WAREHOUSE, STORAGE 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
1945
Construction
CONCRETE
Heating
PACKAGE
Cooling
Yes
Stories
1
Lot
0.16 ac
Current owner
From public records · entity-resolved
David M Siegel LLC
Entity
Free & Clear · 9 yrs held
Mailing address
7849 E BUENA TERRA WAY, SCOTTSDALE, AZ 85250-6514
Ownership since
2017
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 31, 2017
—
David M Siegel LLC
Siegel,david M
Quit Claim Deed
related
—
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?”
You own 224 5th Ave?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
