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Property profile & analytics
OFF-MARKET
Estimated value
$75,255,000
Parking lots & garages
2515 Camelback Rd, Phoenix, AZ 85016-4203
Entity Owned
20-yr Hold
Free & Clear
Property ID
US07-0134501
Property profile
Verified
Property type
Parking lots & garages
Use group
PARKING GARAGE, PARKING STRUCTURE
Year built
1997
Construction
CONCRETE
Total area
122,954 SF
Lot
1.58 ac (69,038 SF)
Zoning code
C-2
APN
163-17-089N
UPID
US07-0134501
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
-
AMC DINE-IN Esplanade 14 Cinema Theater & Performing Art Venue
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$76.65M
Blend (final)
Blend
$75.26M
Owner & transaction history
Spirit Master Funding LLC · 20 yrs held
Spirit Master Funding LLC
since 2006
7 recorded transactions
Zoning & alternative use
C-2 · Phoenix, AZ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$85.6M
+105.3%
Restaurant
$65.7M
+57.4%
Auto repair, garage
$52.0M
+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)
$85,630,000
Change: +105% · Conversion: Difficult
RESTAURANT
$65,660,000
Change: +57% · Conversion: Difficult
AUTO REPAIR, GARAGE
$51,955,000
Change: +25% · Conversion: Difficult
Blend value · Realmo final
$75.26M
Range $67.73M – $82.78M · ±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
$699,566
Tax year 2023
Assessed value
$8,965,009
Assessed 2024
Previous assessed
$7,561,736
+18.6% YoY
Effective rate
7.80%
On assessed value
Land market value
$6,903,800
Improvement market value
$47,429,588
Total market value
$54,333,388
Applied tax rate
381,300.0000
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
Off-Market
Year built
1997
Construction
CONCRETE
Heating
NONE
Buildings
3
Stories
2
Units
3
Total area
122,954 SF
Lot
1.58 ac (69,038 SF)
Zoning code
C-2
APN
163-17-089N
UPID
US07-0134501
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
$85.6M
RESTAURANT
Est. value
$65.7M
AUTO REPAIR, GARAGE
Est. value
$52.0M
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
1997
Construction
CONCRETE
Heating
NONE
Stories
2
Buildings
3
Units
3
Lot
1.58 ac
Current owner
From public records · entity-resolved
Spirit Master Funding LLC
Entity
Free & Clear · 20 yrs held
Mailing address
14631 N SCOTTSDALE RD STE #200, SCOTTSDALE, AZ 85254-2786
Ownership since
2006
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
11 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 26, 2006
—
Spirit Master Funding LLC
Spirit Finance Acquisitions Ll
Quit Claim Deed
—
May 17, 2004
$12,900,000
Spirit Finance Acquisitions Ll
4501 Northpoint
Grant Deed
related
—
Dec 22, 1997
$55,125,000
Northpoint L P 4501
Opus West Corp
Grant Deed
—
Jun 4, 1996
$5,635,816
Opus Southwest Corp
Pivotal Svp 24 L L C
Grant Deed
$3,000,000 · Bank One NA
May 16, 1996
$1,000,000
Pivotal Simon Hotel Xxiv L L C
Svp Camel L L C
Trustees Deed
—
May 16, 1996
$700,000
Pivotal Group III L L C
F Francis Najafi
Trustees Deed
—
May 16, 1996
$300,000
Pivotal Group III L L C
J Jahm Nafji
Trustees Deed
—
May 14, 1996
$1,000,000
Najafi,j Jahm
Pivotal Group I L L C
Trustees Deed
—
May 14, 1996
$2,000,000
Pivotal Group I L L C
Pivotal Svp 24 L L C
Trustees Deed
related
—
May 10, 1996
—
Camelback Esplanade Association
Pivotal Svp 24 L L C
Trustees Deed
related
—
—
—
Svp 24 L L C Pivotal
—
Deed Of Trust
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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