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Property profile & analytics
OFF-MARKET
Estimated value
$6,725,000
Industrial properties
2350 Shangri La Rd Phoenix, AZ 85029-4724
Entity Owned
21-yr Hold
~
Est. High Equity
Property ID
US07-0390659
Property profile
Verified
Property type
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Year built
1982
Construction
CONCRETE
Total area
20,596 SF
Lot
1.38 ac (59,929 SF)
Zoning code
A-1
APN
149-07-017
UPID
US07-0390659
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
$6.76M
Blend (final)
Blend
$6.73M
Owner & transaction history
Shangri La Commercial Holdings LLC · 21 yrs held
Shangri La Commercial Holdings LLC
since 2005
7 recorded transactions
Zoning & alternative use
A-1 · Phoenix, AZ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$11.0M
+142.7%
Auto repair, garage
$8.7M
+92.1%
Retail stores
$6.1M
+35.5%
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
INDUSTRIAL (GENERAL)
$4,530,000
Current use
RESTAURANT
$11,000,000
Change: +143% · Conversion: Difficult
AUTO REPAIR, GARAGE
$8,705,000
Change: +92% · Conversion: Easy
RETAIL STORES
$6,135,000
Change: +35% · Conversion: Moderate
MEDICAL BUILDING
$5,465,000
Change: +21% · Conversion: Difficult
WAREHOUSE, STORAGE
$5,345,000
Change: +18% · Conversion: Easy
Blend value · Realmo final
$6.73M
Range $6.05M – $7.40M · ±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
$327 / 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
$29,545
Tax year 2023
Assessed value
$575,124
Assessed 2024
Previous assessed
$386,257
+48.9% YoY
Effective rate
5.14%
On assessed value
Land market value
$678,600
Improvement market value
$2,807,000
Total market value
$3,485,600
Applied tax rate
61,300.0000
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 (GENERAL)
Status
Off-Market
Year built
1982
Construction
CONCRETE
Heating
NONE
Cooling
EVAPORATIVE
Buildings
3
Stories
1
Units
3
Total area
20,596 SF
Lot
1.38 ac (59,929 SF)
Zoning code
A-1
APN
149-07-017
UPID
US07-0390659
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
INDUSTRIAL (GENERAL) Current
Est. value
$4.5M
RESTAURANT
Est. value
$11.0M
AUTO REPAIR, GARAGE
Est. value
$8.7M
RETAIL STORES
Est. value
$6.1M
MEDICAL BUILDING
Est. value
$5.5M
WAREHOUSE, STORAGE
Est. value
$5.3M
INDUSTRIAL (GENERAL) Current
RESTAURANT
AUTO REPAIR, GARAGE
RETAIL STORES
MEDICAL BUILDING
WAREHOUSE, STORAGE
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
NONE
Cooling
Yes
Stories
1
Buildings
3
Units
3
Lot
1.38 ac
Current owner
From public records · entity-resolved
Shangri La Commercial Holdings LLC
Entity
Mailing address
2350 W SHANGRI LA RD, PHOENIX, AZ 85029-4724
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2005
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
11 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 3, 2022
—
Shangri La Commercial Holdings LLC
—
Deed
related
$2,000,000 · Bell Bank
Apr 19, 2018
—
Shangri La Commercial Holdings LLC
—
Deed
related
$1,506,701 · Arizona Business Bank
Apr 1, 2005
$2,400,000
Shangri La Commercial Holdings LLC
Tucson Real Estate Partners LLC
Warranty Deed
$2,205,000 · Matrix Capital Bank
Sep 20, 2001
$1,850,000
Tucson Real Ests Partners LLC
Karsten Manufacturing Corp
Grant Deed
$1,480,000 · Karsten Manufacturing Corp
Oct 5, 1989
$1,600,000
Karsten Manufact
—
Grant Deed
related
—
Dec 9, 1988
$1,895,000
Karsten Manufact
Fa
Grant Deed
—
—
—
Tucson Real Estate Partnes LLC
—
Deed Of Trust
related
$1,050,000 · Wells Fargo Bank
—
—
Shangri-la Coml Holdings LLC
—
Deed Of Trust
related
$1,079,626 · Umb Bank NA
—
—
Tucson Real Estate Partners Lc
—
Deed Of Trust
related
$1,680,000 · First National Capital LLC
—
—
Tucson Real Estate Partners Lc
—
Deed Of Trust
related
$2,050,000 · First National Capital LLC
—
—
Shangri-la Coml Holdings LLC
—
Deed Of Trust
related
$1,079,626 · Umb Bank Arizona NA
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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