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Property profile & analytics
FOR LEASE
Parking lots & garages
2425 East Camelback Rd Phoenix, AZ 85016
Individually Owned
1-yr Hold
~
Est. High Equity
Property ID
US07-0436005
For Lease
Contact for pricing
2425 East Camelback Rd, Phoenix, AZ 85016
View Listing →
Property profile
Verified
Property type
Parking lots & garages
Use group
PARKING GARAGE, PARKING STRUCTURE
Year built
2004
Construction
CONCRETE
Total area
141,368 SF
Lot
16.16 ac (703,897 SF)
Zoning code
C-2
APN
154-03-023B
UPID
US07-0436005
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
-
Balmer Architectural Group Architect
-
Rueb Stoller Daniel Law Firm
-
KKNT Radio Station Telecommunications Service
-
The Groves Shopping Center Tempe Shopping Center & Mall
-
Luke's Diner Cafe & Coffee Shop
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$88.13M
Blend (final)
Blend
$86.53M
Owner & transaction history
Brian Riegel · 1 yrs held
Brian Riegel
since 2025
4 recorded transactions
Zoning & alternative use
C-2 · Phoenix, AZ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$98.5M
+105.3%
Restaurant
$75.5M
+57.4%
Auto repair, garage
$59.7M
+24.6%
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
COMMERCIAL (GENERAL)
$98,450,000
Change: +105% · Conversion: Difficult
RESTAURANT
$75,495,000
Change: +57% · Conversion: Difficult
AUTO REPAIR, GARAGE
$59,735,000
Change: +25% · Conversion: Difficult
Blend value · Realmo final
$86.53M
Range $77.87M – $95.18M · ±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
$612 / 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
$575,947
Tax year 2023
Assessed value
$5,655,936
Assessed 2024
Previous assessed
$4,888,775
+15.7% YoY
Effective rate
10.18%
On assessed value
Land market value
$8,005,100
Improvement market value
$26,273,297
Total market value
$34,278,397
Applied tax rate
681,300.0000
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
Parking lots & garages
Use group
PARKING GARAGE, PARKING STRUCTURE
Status
For Lease
Year built
2004
Construction
CONCRETE
Heating
PACKAGE
Cooling
YES
Buildings
9
Stories
2
Units
9
Total area
141,368 SF
Lot
16.16 ac (703,897 SF)
Zoning code
C-2
APN
154-03-023B
UPID
US07-0436005
Jurisdiction
MARICOPA
Zoning & alternative use
C-2 · Phoenix, AZ
Zoning C-2 · permitted uses
C-2 · 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
COMMERCIAL (GENERAL)
Est. value
$98.5M
RESTAURANT
Est. value
$75.5M
AUTO REPAIR, GARAGE
Est. value
$59.7M
COMMERCIAL (GENERAL)
RESTAURANT
AUTO REPAIR, GARAGE
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
2004
Construction
CONCRETE
Heating
PACKAGE
Cooling
Yes
Stories
2
Buildings
9
Units
9
Lot
16.16 ac
Current owner
From public records · entity-resolved
Brian Riegel
Individual
Mailing address
2425 W CAMELBACK RD, PHOENIX, AZ 85015-3420
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
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 23, 2025
—
Brian Riegel
—
Deed
related
$18,139 · Lakeview Loan Servicing LLC
May 31, 2023
—
Miguel A Villareal Ortiz
—
Deed
related
$11,340 · Cardinal Financial Corp
Jan 17, 2018
—
Luke Camelback LLC
—
Grant Deed
related
$18,850,000 · Compass Bk
Apr 15, 2005
—
Luke Camelback LLC
—
Loan Modification
related
$2,735,000 · Daimler Chrysler Svcs/n Americ
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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