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Property profile & analytics
OFF-MARKET
Estimated value
$1,185,000
Industrial properties
23740 Central Ave Phoenix, AZ 85024-5113
Individually Owned
10-yr Hold
~
Est. High Equity
Property ID
US07-3406087
Property profile
Verified
Property type
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Year built
1999
Total area
3,000 SF
Lot
2.5 ac (108,900 SF)
Zoning code
I-1
APN
210-16-002E
UPID
US07-3406087
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
-
Pmg Masonry and concrete General Contractor Construction Company
-
Express Roof Removal Roofing Company General Contractor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.19M
Blend (final)
Blend
$1.19M
Owner & transaction history
Patrick Martinez · 10 yrs held
Patrick Martinez
since 2016
3 recorded transactions
Zoning & alternative use
I-1 · Phoenix, AZ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$1.3M
+92.1%
Office building
$900,000
+36.4%
Retail stores
$895,000
+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
AUTO REPAIR, GARAGE
$1,270,000
Change: +92% · Conversion: Easy
OFFICE BUILDING
$900,000
Change: +36% · Conversion: Difficult
RETAIL STORES
$895,000
Change: +35% · Conversion: Moderate
MEDICAL BUILDING
$795,000
Change: +21% · Conversion: Difficult
WAREHOUSE, STORAGE
$780,000
Change: +18% · Conversion: Easy
NEIGHBORHOOD: SHOPPING CENTER
$765,000
Change: +16% · Conversion: Difficult
Blend value · Realmo final
$1.19M
Range $1.07M – $1.30M · ±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
$395 / 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
$9,951
Tax year 2023
Assessed value
$326,356
Assessed 2024
Previous assessed
$161,228
+102.4% YoY
Effective rate
3.05%
On assessed value
Land market value
$1,941,900
Improvement market value
$36,014
Total market value
$1,977,914
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
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Status
Off-Market
Year built
1999
Heating
NONE
Stories
1
Total area
3,000 SF
Lot
2.5 ac (108,900 SF)
Zoning code
I-1
APN
210-16-002E
UPID
US07-3406087
Jurisdiction
MARICOPA
Zoning & alternative use
I-1 · Phoenix, AZ
Zoning I-1 · permitted uses
I-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
AUTO REPAIR, GARAGE
Est. value
$1.3M
OFFICE BUILDING
Est. value
$900,000
RETAIL STORES
Est. value
$895,000
MEDICAL BUILDING
Est. value
$795,000
WAREHOUSE, STORAGE
Est. value
$780,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$765,000
AUTO REPAIR, GARAGE
OFFICE BUILDING
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
1999
Heating
NONE
Stories
1
Lot
2.5 ac
Current owner
From public records · entity-resolved
Patrick Martinez
Individual
Mailing address
PO BOX 54993, PHOENIX, AZ 85078-4993
Ownership since
2016
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 17, 2016
—
Patrick Martinez
Guerrero,patricio M
Warranty Deed
$456,000 · National Bk/az
Jun 2, 2006
$1,350,000
Patricio M Guerrero
Stronghold Ents
Grant Deed
$625,000 · Western National Bank
Jun 26, 1996
$100,000
Stronghold Enterprises
Flori Corporation
Grant Deed
$80,000 · Seller
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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