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Property profile & analytics
OFF-MARKET
Estimated value
$18,000,000
Distribution centers
235 Pima St Phoenix, AZ 85004-2852
Entity Owned
1-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US07-0894209
Property profile
Verified
Property type
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Year built
1977
Construction
CONCRETE
Total area
98,255 SF
Lot
4.24 ac (184,836 SF)
Zoning code
A-1
APN
112-39-099B
UPID
US07-0894209
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
-
Shepard Exposition Services Marketing & Advertising Event Planning
-
1-800 Radiator & A/C South Phoenix Warehouse Auto Parts Store
-
Xylem Phoenix - Pump Rental & Sales -Godwin/Flygt- (Bike/Boat/Book/etc) Store Rental Equipment Company
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$18.00M
CAP Approach
CAP
$11.55M
Comparable Approach
Comparable
$25.19M
Blend (final)
Blend
$18.00M
Owner & transaction history
Areit Pima Street Lc LLC · 1 yrs held
Areit Pima Street Lc LLC
since 2024
Last sale
$18.0M
7 recorded transactions
Zoning & alternative use
A-1 · Phoenix, AZ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$29.7M
+16.5%
Retail stores
$29.3M
+14.8%
Medical building
$26.1M
+2.3%
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
$18,000,000
ML approach
$18,000,000
CAP Approach
CAP Return
Estimation
6%
$12,510,000
6.5%
$11,545,000
7%
$10,720,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$25,500,000
Current use
OFFICE BUILDING
$29,700,000
Change: +16% · Conversion: Difficult
RETAIL STORES
$29,280,000
Change: +15% · Conversion: Moderate
MEDICAL BUILDING
$26,080,000
Change: +2% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$25,010,000
Change: -2% · Conversion: Moderate
Blend value · Realmo final
$18.00M
Range $16.20M – $19.80M · ±10% · vs last sale $18.00M (Oct 1 2024)
Last sale anchor
$18.00M
Oct 1 2024
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
$183 / 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
$77,194
Tax year 2023
Assessed value
$2,107,826
Assessed 2024
Previous assessed
$2,107,826
+0.0% YoY
Effective rate
3.66%
On assessed value
Land market value
$2,046,700
Improvement market value
$10,728,000
Total market value
$12,774,700
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
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Status
Off-Market
Year built
1977
Construction
CONCRETE
Heating
PACKAGE
Cooling
YES
Stories
1
Total area
98,255 SF
Lot
4.24 ac (184,836 SF)
Zoning code
A-1
APN
112-39-099B
UPID
US07-0894209
Jurisdiction
MARICOPA
Zoning & alternative use
A-1 · Phoenix, AZ
Zoning A-1 · permitted uses
A-1 · 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
WAREHOUSE, STORAGE Current
Est. value
$25.5M
OFFICE BUILDING
Est. value
$29.7M
RETAIL STORES
Est. value
$29.3M
MEDICAL BUILDING
Est. value
$26.1M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$25.0M
WAREHOUSE, STORAGE Current
OFFICE BUILDING
RETAIL STORES
MEDICAL BUILDING
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
1977
Construction
CONCRETE
Heating
PACKAGE
Cooling
Yes
Stories
1
Lot
4.24 ac
Current owner
From public records · entity-resolved
Areit Pima Street Lc LLC
Entity
Mailing address
1200 17TH ST STE #2900, DENVER, CO 80202-5831
Mailing matches property
Different — outreach signal
Owner-occupied
No
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
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 1, 2024
$18,000,000
Areit Pima Street Lc LLC
Bpvif V Holdings 40 LLC
Special Warranty Deed
—
Oct 27, 2022
$14,250,000
Bpvif V Holdings 40 LLC
Hpi Lwvi Pima LLC
Special Warranty Deed
—
Aug 10, 2020
—
Hpi Of Lwvi Pima LLC
—
Deed
related
$16,119,000 · Miscellaneous Ins Co
Aug 21, 2019
$6,484,500
Hpi Of Lwvi Pima LLC
Cctc INC
Grant Deed
—
Aug 15, 1995
$1,793,125
Charlie Case Tire Co
All Disributing Co INC
Grant Deed
$1,800,000 · M & I Thunderbird Bank
—
—
Hpi Of Lwvi Pima LLC
—
Deed Of Trust
related
$16,119,000 · Miscellaneous Ins Co
—
—
Cctc INC
—
Deed Of Trust
related
$1,600,000 · Northern Trust Bank
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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