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Property profile & analytics
OFF-MARKET
Estimated value
$22,215,000
Hotels
24655 23rd Ave, Phoenix, AZ 85085-0629
Entity Owned
14-yr Hold
Absentee Owner
Free & Clear
Property ID
US07-3443635
Property summary
AI-generated overview
This exceptional retail property, located at 24655 N. 23rd Ave in Phoenix, Arizona (zip code 85085), offers two available endcap suites ideal for a variety of businesses. The property is classified as commercial retail with multiple tenancy and boasts a total building size of 8,000 square feet. Two spaces are currently available, providing flexible options for prospective tenants. One suite offers 1,210 square feet, while the other provides 1,840 square feet of contiguous space. The maximum contiguous space available is 1,840 square feet, and the minimum divisible space is 1,210 square feet. A significant 3,050 square feet of space is currently vacant, presenting a unique opportunity for expansion or multiple occupancy. The property is situated in Maricopa County and benefits from excellent visibility and accessibility. The endcap suites offer the potential for outdoor patio space, enhancing the appeal and functionality of the units. This property is perfect for businesses seeking a high-traffic location in a thriving Phoenix neighborhood. Contact us today to learn more about leasing opportunities.
Property profile
Verified
Property type
Hotels
Use group
HOTEL
Year built
2019
Construction
STEEL FRAME
Total area
52,602 SF
Lot
3.01 ac (131,265 SF)
Zoning code
A-1
APN
210-05-952
UPID
US07-3443635
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
-
Holiday Inn Express & Suites Phoenix North - Happy Valley Hotel & Motel
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$22.72M
Blend (final)
Blend
$22.22M
Owner & transaction history
23 Ww LLC · 14 yrs held
23 Ww LLC
since 2011
7 recorded transactions
Zoning & alternative use
A-1 · Phoenix, AZ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$36.6M
+33.7%
Restaurant
$28.1M
+2.5%
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
HOTEL/MOTEL
$27,395,000
Current use
COMMERCIAL (GENERAL)
$36,635,000
Change: +34% · Conversion: Difficult
RESTAURANT
$28,090,000
Change: +3% · Conversion: Difficult
AUTO REPAIR, GARAGE
$22,225,000
Change: -19% · Conversion: Difficult
Blend value · Realmo final
$22.22M
Range $19.99M – $24.44M · ±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
$422 / 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
$108,046
Tax year 2023
Assessed value
$1,755,519
Assessed 2024
Previous assessed
$1,531,887
+14.6% YoY
Effective rate
6.15%
On assessed value
Land market value
$1,902,900
Improvement market value
$8,736,611
Total market value
$10,639,511
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
Hotels
Use group
HOTEL
Status
Off-Market
Year built
2019
Construction
STEEL FRAME
Heating
NONE
Stories
4
Units
96
Total area
52,602 SF
Lot
3.01 ac (131,265 SF)
Zoning code
A-1
APN
210-05-952
UPID
US07-3443635
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
HOTEL/MOTEL Current
Est. value
$27.4M
COMMERCIAL (GENERAL)
Est. value
$36.6M
RESTAURANT
Est. value
$28.1M
AUTO REPAIR, GARAGE
Est. value
$22.2M
HOTEL/MOTEL Current
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
2019
Construction
STEEL FRAME
Heating
NONE
Stories
4
Units
96
Lot
3.01 ac
Current owner
From public records · entity-resolved
23 Ww LLC
Entity
Free & Clear · 14 yrs held
Mailing address
14201 N 87TH ST STE #125, SCOTTSDALE, AZ 85260-3683
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2011
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 7, 2018
—
23 Ww LLC
—
Grant Deed
related
$9,900,000 · Enterprise Bk
Nov 9, 2011
$750,000
23 Ww LLC
Salamone,bruno & Jami
Grant Deed
—
Oct 20, 2011
$750,000
Salamone,bruno & Jami
Arrowhead D-150 LLC
Grant Deed
$500,000 · Citizens St Bk/midwest
Sep 27, 2010
—
Arrowhead D-150 LLC
2829 Properties LLC
Grant Deed
related
—
Aug 26, 2009
—
2829 Properties LLC
—
Loan Modification
related
$1,425,000 · Citizens St Bk/midwest
Feb 6, 2009
—
2829 Properties LLC
—
Loan Modification
related
—
Aug 28, 2008
—
2829 Properties LLC
—
Loan Modification
related
—
Aug 21, 2006
$2,330,000
2829 Properties LLC
Happy Valley-23 LLC
Grant Deed
$1,515,000 · Citizens St Bk/midwest
—
—
Bruno Salamone
—
Loan Modification
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.
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