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Property profile & analytics
OFF-MARKET
Estimated value
$1,080,000
Office buildings
23724 Central Ave Phoenix, AZ 85024-5111
Entity Owned
~
Est. High Equity
Property ID
US07-0347886
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
2002
Construction
STEEL FRAME
Total area
2,832 SF
Lot
0.83 ac (36,285 SF)
Zoning code
IND-2P
APN
210-16-002F
UPID
US07-0347886
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
-
All Things Metal Construction Company General Contractor
-
KorFab, LLC Industrial Manufacturer Production Facility
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$795k
Comparable Approach
Comparable
$1.49M
Blend (final)
Blend
$1.08M
Owner & transaction history
Rocket Funds LLC
Rocket Funds LLC
since 2025
Last sale
$757,289
7 recorded transactions
Zoning & alternative use
IND-2P · Phoenix, AZ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Source
Public/Zoning (MapServer)
Top alternative use upside
Auto repair, garage
$1.2M
+40.8%
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
$1,195,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$860,000
6.5%
$795,000
7%
$740,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$850,000
Current use
AUTO REPAIR, GARAGE
$1,195,000
Change: +41% · Conversion: Difficult
RETAIL STORES
$845,000
Change: -1% · Conversion: Moderate
MEDICAL BUILDING
$750,000
Change: -12% · Conversion: Easy
WAREHOUSE, STORAGE
$735,000
Change: -14% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$720,000
Change: -15% · Conversion: Difficult
Blend value · Realmo final
$1.08M
Range $972k – $1.19M · ±10% · vs last sale $757k (Jun 30 2025)
Last sale anchor
$757k
Jun 30 2025
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
$381 / 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
$10,877
Tax year 2023
Assessed value
$264,368
Assessed 2024
Previous assessed
$175,729
+50.4% YoY
Effective rate
4.11%
On assessed value
Land market value
$815,800
Improvement market value
$786,428
Total market value
$1,602,228
Applied tax rate
970,000.0000
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
2002
Construction
STEEL FRAME
Heating
PACKAGE
Cooling
YES
Buildings
3
Stories
1
Units
3
Total area
2,832 SF
Lot
0.83 ac (36,285 SF)
Zoning code
IND-2P
APN
210-16-002F
UPID
US07-0347886
Jurisdiction
MARICOPA
Zoning & alternative use
IND-2P · Phoenix, AZZoning IND-2P · permitted uses
IND-2P · Phoenix, AZ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Source
Public/Zoning (MapServer)
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$850,000
AUTO REPAIR, GARAGE
Est. value
$1.2M
RETAIL STORES
Est. value
$845,000
MEDICAL BUILDING
Est. value
$750,000
WAREHOUSE, STORAGE
Est. value
$735,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$720,000
OFFICE BUILDING Current
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
STEEL FRAME
Heating
PACKAGE
Cooling
Yes
Stories
1
Buildings
3
Units
3
Lot
0.83 ac
Current owner
From public records · entity-resolved
Rocket Funds LLC
Entity
Mailing address
23724 N CENTRAL AVE BLDG B, PHOENIX, AZ 85024-5126
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 30, 2025
$757,289
Rocket Funds LLC
Timothy Rock
Special Warranty Deed
—
Oct 12, 2021
—
Shop Prop LLC
T Wind 88 C LLC
Warranty Deed
—
May 7, 2020
—
Shop Prop LLC
Adrd LLC
Correction Deed
related
—
May 7, 2020
$234,762
Shop Prop LLC
Adrd LLC
Deed
related
—
Apr 30, 2020
$845,217
Rocket Funds LLC
Adrd LLC
Warranty Deed
$751,956 · Adrd LLC
Apr 30, 2020
$234,782
Shop Prop LLC
Adrd LLC
Warranty Deed
$213,043 · Adrd LLC
Oct 9, 2002
—
Adrd LLC
A J Decker Construction
Grant Deed
related
—
Jan 28, 2000
$122,000
A J Deccker Construction
Prospt,john E & Susan L
Grant Deed
$150,000 · Bank Of The Southwest
—
—
Adrd LLC
—
Deed Of Trust
related
$425,969 · Bank Of America
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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