New search
Property profile & analytics
OFF-MARKET
Estimated value
$710,000
Assisted living facilities
2302 Lincoln Dr, Phoenix, AZ 85016-1214
Individually Owned
4-yr Hold
~
Est. High Equity
Property ID
US07-2732991
Property profile
Verified
Property type
Assisted living facilities
Use group
HOMES (RETIRED, NURSING)
Year built
1965
Construction
CONCRETE BLOCKS
Total area
2,165 SF
Lot
0.27 ac (11,700 SF)
Zoning code
R1-10
APN
164-43-011
UPID
US07-2732991
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
$708k
Blend (final)
Blend
$710k
Owner & transaction history
Tommy Ray Thomas · 4 yrs held
Tommy Ray Thomas
since 2022
7 recorded transactions
Zoning & alternative use
R1-10 · Phoenix, AZ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$915,000
+86.5%
Retail stores
$600,000
+22.3%
Medical building
$575,000
+17.2%
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
HOMES (RETIRED, HANDICAP, REST, CONVALESCENT, NURSING)
$490,000
Current use
AUTO REPAIR, GARAGE
$915,000
Change: +87% · Conversion: Difficult
RETAIL STORES
$600,000
Change: +22% · Conversion: Difficult
MEDICAL BUILDING
$575,000
Change: +17% · Conversion: Difficult
OFFICE BUILDING
$565,000
Change: +15% · Conversion: Difficult
WAREHOUSE, STORAGE
$560,000
Change: +15% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$550,000
Change: +12% · Conversion: Difficult
Blend value · Realmo final
$710k
Range $639k – $781k · ±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
$328 / 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
$4,149
Tax year 2023
Assessed value
$68,960
Assessed 2024
Previous assessed
$53,560
+28.8% YoY
Effective rate
6.02%
On assessed value
Land market value
$137,900
Improvement market value
$551,700
Total market value
$689,600
Applied tax rate
381,300.0000
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
Assisted living facilities
Use group
HOMES (RETIRED, NURSING)
Status
Off-Market
Year built
1965
Construction
CONCRETE BLOCKS
Heating
YES
Cooling
REFRIGERATOR
Stories
1
Rooms
8
Bathrooms
2
Total area
2,165 SF
Lot
0.27 ac (11,700 SF)
Zoning code
R1-10
APN
164-43-011
UPID
US07-2732991
Jurisdiction
MARICOPA
Zoning & alternative use
R1-10 · Phoenix, AZ
Zoning R1-10 · permitted uses
R1-10 · 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
HOMES (RETIRED, HANDICAP, REST, CONVALESCENT, NURSING) Current
Est. value
$490,000
AUTO REPAIR, GARAGE
Est. value
$915,000
RETAIL STORES
Est. value
$600,000
MEDICAL BUILDING
Est. value
$575,000
OFFICE BUILDING
Est. value
$565,000
WAREHOUSE, STORAGE
Est. value
$560,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$550,000
HOMES (RETIRED, HANDICAP, REST, CONVALESCENT, NURSING) Current
AUTO REPAIR, GARAGE
RETAIL STORES
MEDICAL BUILDING
OFFICE 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
1965
Construction
CONCRETE BLOCKS
Heating
YES
Cooling
Yes
Stories
1
Rooms
8
Bathrooms
2
Lot
0.27 ac
Current owner
From public records · entity-resolved
Tommy Ray Thomas
Individual
Mailing address
702 W CAMBRIDGE AVE, PHOENIX, AZ 85007-1111
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
20 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 31, 2022
—
Tommy Ray Thomas
Tommy Ray Thomas
Intrafamily Transfer
related
$480,000 · Security National Mortgage Co
Jan 17, 2020
$450,000
Nicole Thomas
Rita V Hermann
Warranty Deed
$427,500 · Security National Mortgage Co
Jan 17, 2020
—
Nicole Thomas
Curtis Patterson
Deed
—
Jun 29, 2016
—
Rita V Hermann
—
Deed
related
$320,500 · Wells Fargo Bank NA
Jul 8, 2013
$350,000
Rita V Hermann
Mitchell,scott
Warranty Deed
$332,500 · On Q Financial INC
May 22, 2012
$235,000
Scott Mitchell
Aurora Ln Svcs LLC
Grant Deed
—
May 27, 2010
$270,000
Aurora Ln Svcs LLC
Executive Te Svcs LLC
Trustees Deed
related
—
Aug 27, 2008
—
Earnest Sanders
Tgmn & Associates LLC
Quit Claim Deed
related
—
Aug 14, 2008
—
Pink Diamond Trust
Pink Diamond Trust
Quit Claim Deed
related
—
Jul 21, 2008
—
Earnest Sanders
Madison,tajuddin G
Quit Claim Deed
related
—
Jul 15, 2008
—
Tajuddin G Madison-nelson
Madison,sherryl
Quit Claim Deed
related
—
Mar 17, 2006
—
Tgmn & Associates LLC
Madison,sherryl
Grant Deed
—
Feb 14, 2006
—
Sherryl Madison
Madison Consultants INC
Quit Claim Deed
—
Jun 10, 2005
—
Madison Consultants INC
Wells,charles & Cheryl
Quit Claim Deed
related
—
Jun 10, 2005
$430,000
Charles Wells
Deschamps,philip
Warranty Deed
$336,000 · First Magnus Financial Corp
Aug 23, 2004
$380,000
Philip Deschamps
Istvan,bogdan
Warranty Deed
$304,000 · Millennium Funding Group
Jul 2, 2004
$320,000
Bogdan Istvan
Cordovana,anthony M
Grant Deed
$300,000 · Mark & Dorina Fratu
Jul 20, 2001
—
Michael A Cordovana
Cordovana,shaunhessey L
Quit Claim Deed
related
—
Apr 4, 2000
$190,000
Michael A Cordovana
Sofer,yehoshau & Sasona
Grant Deed
$162,000 · Washington Federal Savings
May 2, 1995
$130,000
Yehoshua Sofer
Jamar Dev Co INC
Grant Deed
$83,546 · Seller
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 2302 Lincoln Dr?
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.
