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Property profile & analytics
OFF-MARKET
Estimated value
$43,545,000
Flex space
23620 20th Dr Phoenix, AZ 85085-0621
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US07-1002888
Property profile
Verified
Property type
Flex space
Use group
LIGHT INDUSTRIAL
Year built
2002
Construction
CONCRETE
Total area
105,560 SF
Lot
12.22 ac (532,136 SF)
Zoning code
A-1
APN
210-05-012
UPID
US07-1002888
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
-
Avella of Deer Valley Pharmacy
-
Boesen Mark D Pharmacy
-
Kevin A. Kistler Sr, RPH Pharmacy
-
Stanley Steemer Carpet Cleaning Service Air Duct Cleaning Service
-
Lone Mountain Landscaping Llc Landscaping General Contractor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$41.82M
Blend (final)
Blend
$43.55M
Owner & transaction history
Sreit Phoenix Pinnacle Phase II LLC · 4 yrs held
Sreit Phoenix Pinnacle Phase II LLC
since 2021
Last sale
$45.4M
4 recorded transactions
Zoning & alternative use
A-1 · Phoenix, AZ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$56.4M
+142.7%
Auto repair, garage
$44.6M
+92.1%
Retail stores
$31.5M
+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
RESTAURANT
$56,370,000
Change: +143% · Conversion: Difficult
AUTO REPAIR, GARAGE
$44,605,000
Change: +92% · Conversion: Easy
RETAIL STORES
$31,455,000
Change: +35% · Conversion: Moderate
MEDICAL BUILDING
$28,020,000
Change: +21% · Conversion: Difficult
WAREHOUSE, STORAGE
$27,395,000
Change: +18% · Conversion: Easy
NEIGHBORHOOD: SHOPPING CENTER
$26,870,000
Change: +16% · Conversion: Difficult
Blend value · Realmo final
$43.55M
Range $39.19M – $47.90M · ±10% · vs last sale $45.38M (Sep 28 2021)
Last sale anchor
$45.38M
Sep 28 2021
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
$413 / 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
$237,767
Tax year 2023
Assessed value
$5,098,764
Assessed 2024
Previous assessed
$4,077,943
+25.0% YoY
Effective rate
4.66%
On assessed value
Land market value
$5,742,400
Improvement market value
$25,159,200
Total market value
$30,901,600
Applied tax rate
971,300.0000
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
Flex space
Use group
LIGHT INDUSTRIAL
Status
Off-Market
Year built
2002
Construction
CONCRETE
Heating
PACKAGE
Cooling
YES
Buildings
2
Stories
1
Units
2
Total area
105,560 SF
Lot
12.22 ac (532,136 SF)
Zoning code
A-1
APN
210-05-012
UPID
US07-1002888
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
RESTAURANT
Est. value
$56.4M
AUTO REPAIR, GARAGE
Est. value
$44.6M
RETAIL STORES
Est. value
$31.5M
MEDICAL BUILDING
Est. value
$28.0M
WAREHOUSE, STORAGE
Est. value
$27.4M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$26.9M
RESTAURANT
AUTO REPAIR, GARAGE
RETAIL STORES
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
2002
Construction
CONCRETE
Heating
PACKAGE
Cooling
Yes
Stories
1
Buildings
2
Units
2
Lot
12.22 ac
Current owner
From public records · entity-resolved
Sreit Phoenix Pinnacle Phase II LLC
Entity
Mailing address
1255 23RD ST NW STE #250, WASHINGTON, DC 20037-1168
Ownership since
2021
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
Sep 11, 2025
—
Sreit Phoenix Pinnacle Phase II LLC
—
Deed
related
—
Sep 28, 2021
$45,380,000
Sreit Phoenix Pinnacle Phase II LLC
Ejm Pinnacle Peak II Property LLC
Special Warranty Deed
—
Mar 3, 2005
—
Ejm Pinnacle Peak II Prop LLC
North Valley LLC
Grant Deed
related
$10,535,000 · Gmac Commercial Mortgage Corp
Nov 4, 2002
—
North Valley LLC
Stewart Title & Trust Phoenix
Grant Deed
related
—
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
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