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Property profile & analytics
OFF-MARKET
Estimated value
$7,370,000
Office buildings
2500 Van Buren St Phoenix, AZ 85008-6037
Entity Owned
16-yr Hold
Free & Clear
Property ID
US07-2047864
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1998
Construction
CONCRETE
Total area
17,989 SF
Lot
86.02 ac (3,746,920 SF)
Zoning code
R-5
APN
121-69-003D
UPID
US07-2047864
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
-
Morris Stephen O MD Physician
-
Christine L. Johnston, PSYD Physician Medical Clinic
-
Lydon Mary Lynn MD Physician
-
Gilbane Building Co Association Or Organization
-
Cavanagh Eric Employment Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$7.38M
Blend (final)
Blend
$7.37M
Owner & transaction history
Us Bank NA Series 2010a Tr · 16 yrs held
Us Bank NA Series 2010a Tr
since 2010
1 recorded transaction
Zoning & alternative use
R-5 · Phoenix, AZ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$9.6M
+77.4%
Auto repair, garage
$7.6M
+40.3%
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
OFFICE BUILDING
$5,415,000
Current use
RESTAURANT
$9,605,000
Change: +77% · Conversion: Moderate
AUTO REPAIR, GARAGE
$7,600,000
Change: +40% · Conversion: Difficult
MEDICAL BUILDING
$4,775,000
Change: -12% · Conversion: Easy
WAREHOUSE, STORAGE
$4,670,000
Change: -14% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$4,580,000
Change: -15% · Conversion: Difficult
Blend value · Realmo final
$7.37M
Range $6.63M – $8.11M · ±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
$410 / 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
Assessed value
$19,973,264
Assessed 2024
Previous assessed
$18,849,810
+6.0% YoY
Land market value
$19,589,800
Improvement market value
$113,565,296
Total market value
$133,155,096
Applied tax rate
71,300.0000
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1998
Construction
CONCRETE
Heating
NONE
Buildings
67
Stories
1
Units
66
Total area
17,989 SF
Lot
86.02 ac (3,746,920 SF)
Zoning code
R-5
APN
121-69-003D
UPID
US07-2047864
Jurisdiction
MARICOPA
Zoning & alternative use
R-5 · Phoenix, AZ
Zoning R-5 · permitted uses
R-5 · 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
OFFICE BUILDING Current
Est. value
$5.4M
RESTAURANT
Est. value
$9.6M
AUTO REPAIR, GARAGE
Est. value
$7.6M
MEDICAL BUILDING
Est. value
$4.8M
WAREHOUSE, STORAGE
Est. value
$4.7M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$4.6M
OFFICE BUILDING Current
RESTAURANT
AUTO REPAIR, GARAGE
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
1998
Construction
CONCRETE
Heating
NONE
Stories
1
Buildings
67
Units
66
Lot
86.02 ac
Current owner
From public records · entity-resolved
Us Bank NA Series 2010a Tr
Entity
Free & Clear · 16 yrs held
Mailing address
205 S 17TH AVE612E, PHOENIX, AZ 85007-3212
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2010
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 26, 2010
—
Us Bank NA Series 2010a Tr
State Of Arizona
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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