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Property profile & analytics
OFF-MARKET
Estimated value
$855,000
Industrial properties
2304 Polk St Phoenix, AZ 85006-3916
Entity Owned
9-yr Hold
~
Est. High Equity
Property ID
US07-2653341
Property profile
Verified
Property type
Industrial properties
Use group
INDUSTRIAL LOFT BUILDING
Year built
1941
Construction
CONCRETE
Total area
2,160 SF
Lot
0.19 ac (8,442 SF)
Zoning code
R-5
APN
116-02-026C
UPID
US07-2653341
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
-
Metalmorph, LLC Auto Repair Shop
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$856k
Blend (final)
Blend
$855k
Owner & transaction history
Under The Hood With Bogi LLC · 9 yrs held
Under The Hood With Bogi LLC
since 2016
4 recorded transactions
Zoning & alternative use
R-5 · Phoenix, AZ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$915,000
+92.1%
Office building
$650,000
+36.4%
Medical building
$575,000
+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
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
AUTO REPAIR, GARAGE
$915,000
Change: +92% · Conversion: Easy
OFFICE BUILDING
$650,000
Change: +36% · Conversion: Difficult
MEDICAL BUILDING
$575,000
Change: +21% · Conversion: Difficult
WAREHOUSE, STORAGE
$560,000
Change: +18% · Conversion: Easy
NEIGHBORHOOD: SHOPPING CENTER
$550,000
Change: +16% · Conversion: Difficult
Blend value · Realmo final
$855k
Range $770k – $941k · ±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
$396 / 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
$5,741
Tax year 2023
Assessed value
$78,392
Assessed 2024
Previous assessed
$78,392
+0.0% YoY
Effective rate
7.32%
On assessed value
Land market value
$125,100
Improvement market value
$350,000
Total market value
$475,100
Applied tax rate
71,300.0000
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
Industrial properties
Use group
INDUSTRIAL LOFT BUILDING
Status
Off-Market
Year built
1941
Construction
CONCRETE
Heating
SPACE
Cooling
YES
Buildings
2
Stories
1
Total area
2,160 SF
Lot
0.19 ac (8,442 SF)
Zoning code
R-5
APN
116-02-026C
UPID
US07-2653341
Jurisdiction
MARICOPA
Zoning & alternative use
R-5 · Phoenix, AZ
Zoning R-5 · permitted uses
R-5 · 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
AUTO REPAIR, GARAGE
Est. value
$915,000
OFFICE BUILDING
Est. value
$650,000
MEDICAL BUILDING
Est. value
$575,000
WAREHOUSE, STORAGE
Est. value
$560,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$550,000
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
1941
Construction
CONCRETE
Heating
SPACE
Cooling
Yes
Stories
1
Buildings
2
Lot
0.19 ac
Current owner
From public records · entity-resolved
Under The Hood With Bogi LLC
Entity
Mailing address
2038 N 11TH ST, PHOENIX, AZ 85006-2121
Ownership since
2016
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 15, 2016
$235,000
Under The Hood With Bogi LLC
L&w Machine Co
Special Warranty Deed
$216,400 · Wells Fargo Bank NA
Nov 28, 2011
—
L & W Machine Co
Giles Holdings LLC
Grant Deed
related
—
Dec 6, 2006
$360,000
Giles Holdings LLC
L & W Machine
Grant Deed
$300,000 · L&w Machine Co
Jun 16, 1994
$80,000
L & W Machine Co
Cochrane
Grant Deed
$49,613 · 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.
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