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Property profile & analytics
FOR SALE
Office buildings
2302 N Central Ave 160 Phoenix, AZ 85004
Entity Owned
2-yr Hold
Free & Clear
Property ID
US07-1187228
For Sale
1 / 36
$639,999
2302 N Central Ave,Unit 160, Phoenix, AZ 85004
View Listing →
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
2007
Construction
CONCRETE
Total area
15,442 SF
Lot
0.03 ac (1,469 SF)
Zoning code
UR
APN
118-48-469
UPID
US07-1187228
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
Teresa Properties LLC · 2 yrs held
Teresa Properties LLC
since 2024
3 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 2022Property tax & assessments
Tax year 2022
Tax billed
$4,591
Tax year 2022
Assessed value
$60,605
Assessed 2024
Previous assessed
$50,439
+20.2% YoY
Effective rate
7.58%
On assessed value
Land market value
$73,400
Improvement market value
$293,900
Total market value
$367,300
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
Office buildings
Use group
OFFICE BUILDING
Status
For Sale
Year built
2007
Construction
CONCRETE
Heating
PACKAGE
Cooling
YES
Stories
1
Total area
15,442 SF
Lot
0.03 ac (1,469 SF)
Zoning code
UR
APN
118-48-469
UPID
US07-1187228
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
0.03 ac
Current owner
From public records · entity-resolved
Teresa Properties LLC
Entity
Free & Clear · 2 yrs held
Mailing address
4105 N 20TH ST STE #110, PHOENIX, AZ 85016-6039
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
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 2, 2024
—
Teresa Properties LLC
Catherine Kolodin
Special Warranty Deed
—
Oct 25, 2019
—
Dennis Kolodin
Dennis Kolodin
Quit Claim Deed
related
—
Feb 13, 2012
—
Kolodin,dennis
Willowalk Property LP
Grant Deed
—
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?”
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