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Property profile & analytics
OFF-MARKET
Estimated value
$2,520,000
Office buildings
2302 Central Ave 115 Phoenix, AZ 85004-1316
Entity Owned
3-yr Hold
Free & Clear
Property ID
US07-1034924
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
2007
Construction
CONCRETE
Total area
15,442 SF
Lot
0.04 ac (1,590 SF)
Zoning code
UR
APN
118-48-460
UPID
US07-1034924
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
-
Community Pharmacy Pharmacy
-
Walgreens Pharmacy
-
Edward Jones - Financial Advisor: Aaron J Martin, AAMS® Financial Advisor
-
Luke Yaeger Film Company Film Production Television Studio
-
DENNIS KOLODIN, CCIM, Designated Broker Real Estate Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.52M
Blend (final)
Blend
$2.52M
Owner & transaction history
Central Phoenix Investments LLC · 3 yrs held
Central Phoenix Investments LLC
since 2023
5 recorded transactions
Zoning & alternative use
UR · 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
MEDICAL BUILDING
$4,100,000
Change: -12% · Conversion: Easy
WAREHOUSE, STORAGE
$4,010,000
Change: -14% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$3,930,000
Change: -16% · Conversion: Difficult
Blend value · Realmo final
$2.52M
Range $2.27M – $2.77M · ±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
$163 / 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
$3,687
Tax year 2023
Assessed value
$45,392
Assessed 2024
Previous assessed
$36,686
+23.7% YoY
Effective rate
8.12%
On assessed value
Land market value
$55,000
Improvement market value
$220,100
Total market value
$275,100
Applied tax rate
11,303.0000
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
2007
Construction
CONCRETE
Heating
PACKAGE
Cooling
YES
Stories
1
Total area
15,442 SF
Lot
0.04 ac (1,590 SF)
Zoning code
UR
APN
118-48-460
UPID
US07-1034924
Jurisdiction
MARICOPA
Zoning & alternative use
UR · Phoenix, AZ
Zoning UR · permitted uses
UR · 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
MEDICAL BUILDING
Est. value
$4.1M
WAREHOUSE, STORAGE
Est. value
$4.0M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$3.9M
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
2007
Construction
CONCRETE
Heating
PACKAGE
Cooling
Yes
Stories
1
Lot
0.04 ac
Current owner
From public records · entity-resolved
Central Phoenix Investments LLC
Entity
Free & Clear · 3 yrs held
Mailing address
2821 OAK KNL DR, DIAMOND BAR, CA 91765-3665
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
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 30, 2023
—
Central Phoenix Investments LLC
Ping Chang Cheng
Special Warranty Deed
—
Sep 1, 2021
$1,225,000
Central Phoenix Investments LLC
Cev LLC
Special Warranty Deed
—
Mar 4, 2019
$3,900,000
Cev LLC
Tapestry On Central LLC
Trustees Deed
$3,400,000 · Tapestry On Central LLC
Apr 2, 2007
$724,976
Tapestry On Central LLC
Willowalk Property
Grant Deed
$3,000,000 · Moshe Y B & N B 1998 Tr (tr)
—
—
Tapestry On Central LLC
—
Loan Modification
related
$4,551,698 · Yair B Moshe
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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