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Property profile & analytics
OFF-MARKET
Estimated value
$2,625,000
Industrial properties
2328 Van Buren St Phoenix, AZ 85006-3949
Entity Owned
5-yr Hold
~
Est. High Equity
Property ID
US07-2788723
Property profile
Verified
Property type
Industrial properties
Use group
INDUSTRIAL LOFT BUILDING
Year built
1982
Construction
CONCRETE
Total area
5,280 SF
Lot
2.39 ac (104,006 SF)
Zoning code
C-3
APN
116-02-037
UPID
US07-2788723
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
-
Ridge Valley Exteriors, Inc. Construction Company General Contractor
-
orchidsound electronics Electronics & Wireless Store
-
Stennis's Stuff page Warehouse & Storage
-
D1ImportsLLC Car Dealership
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.09M
Blend (final)
Blend
$2.63M
Owner & transaction history
Trh Properties LLC · 5 yrs held
Trh Properties LLC
since 2020
Last sale
$2.7M
6 recorded transactions
Zoning & alternative use
C-3 · Phoenix, AZ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$3.7M
+216.6%
Restaurant
$2.8M
+142.7%
Auto repair, garage
$2.2M
+92.1%
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
$3,550,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$3,675,000
Change: +217% · Conversion: Difficult
RESTAURANT
$2,820,000
Change: +143% · Conversion: Difficult
AUTO REPAIR, GARAGE
$2,230,000
Change: +92% · Conversion: Easy
OFFICE BUILDING
$1,585,000
Change: +36% · Conversion: Difficult
Blend value · Realmo final
$2.63M
Range $2.36M – $2.89M · ±10% · vs last sale $2.70M (Dec 18 2020)
Last sale anchor
$2.70M
Dec 18 2020
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
$497 / 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
$37,999
Tax year 2022
Assessed value
$555,852
Assessed 2024
Previous assessed
$466,412
+19.2% YoY
Effective rate
6.84%
On assessed value
Land market value
$997,600
Improvement market value
$2,371,200
Total market value
$3,368,800
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
1982
Construction
CONCRETE
Heating
PACKAGE
Cooling
YES
Buildings
5
Stories
1
Units
3
Total area
5,280 SF
Lot
2.39 ac (104,006 SF)
Zoning code
C-3
APN
116-02-037
UPID
US07-2788723
Jurisdiction
MARICOPA
Zoning & alternative use
C-3 · Phoenix, AZ
Zoning C-3 · permitted uses
C-3 · 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
COMMERCIAL (GENERAL)
Est. value
$3.7M
RESTAURANT
Est. value
$2.8M
AUTO REPAIR, GARAGE
Est. value
$2.2M
OFFICE BUILDING
Est. value
$1.6M
COMMERCIAL (GENERAL)
RESTAURANT
AUTO REPAIR, GARAGE
OFFICE BUILDING
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
1982
Construction
CONCRETE
Heating
PACKAGE
Cooling
Yes
Stories
1
Buildings
5
Units
3
Lot
2.39 ac
Current owner
From public records · entity-resolved
Trh Properties LLC
Entity
Mailing address
4501 N 22ND ST STE #150, PHOENIX, AZ 85016-0601
Ownership since
2020
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 18, 2020
$2,700,000
Trh Properties LLC
Airport Business Park Phoenix LLC
Special Warranty Deed
$2,000,000 · Wells Fargo Bank NA
Apr 10, 2014
$2,050,000
Busn Park Phoenix L Airport
Airport Business LLC
Warranty Deed
$1,452,000 · Bank Of The West
Mar 28, 2006
$2,300,000
Airport Business LLC
Slb Airport Business Park Ptrs
Grant Deed
related
$1,820,000 · Sterling Savings Bank
May 24, 2000
$1,380,000
Slb Business Park Partners
S-cubed
Grant Deed
$1,000,000 · Pacific Crest Comm'l Real Est
Dec 23, 1996
—
S Cubed
Airport Business Park L P
Quit Claim Deed
related
—
—
—
Airport Business LLC
—
Deed Of Trust
related
$1,250,000 · Standard Insurance Co
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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