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Property profile & analytics
OFF-MARKET
Estimated value
$1,135,000
Warehouses
2519 16th St Phoenix, AZ 85006
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US07-2637405
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1964
Total area
8,060 SF
Lot
0.55 ac (23,853 SF)
Zoning code
C-2
APN
117-05-027
UPID
US07-2637405
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
-
TEASPRESSA Agricultural Supply
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$945k
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.14M
Owner & transaction history
2519 Thomas LLC · 3 yrs held
2519 Thomas LLC
since 2022
Last sale
$1.2M
7 recorded transactions
Zoning & alternative use
C-2 · Phoenix, AZ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The purpose C-2 zone is to provide commercial uses of medium intensity designed to be compatible with each other and to provide for a wide range of types of commercial activity within the district
Zone name
Intermediate Commercial
General category
COMMERCIAL
Zone area
13,095.06 ac
Source
Realmo
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
$1,190,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$1,025,000
6.5%
$945,000
7%
$880,000
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$1,775,000
Change: -15% · Conversion: Easy
Blend value · Realmo final
$1.14M
Range $1.02M – $1.25M · ±10% · vs last sale $1.20M (Nov 14 2022)
Last sale anchor
$1.20M
Nov 14 2022
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
$141 / 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
$7,846
Tax year 2023
Assessed value
$154,949
Assessed 2024
Previous assessed
$154,949
+0.0% YoY
Effective rate
5.06%
On assessed value
Land market value
$588,700
Improvement market value
$350,386
Total market value
$939,086
Applied tax rate
141,300.0000
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
1964
Heating
NONE
Stories
1
Total area
8,060 SF
Lot
0.55 ac (23,853 SF)
Zoning code
C-2
APN
117-05-027
UPID
US07-2637405
Jurisdiction
MARICOPA
Zoning & alternative use
C-2 · Phoenix, AZZoning 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
Zoning description
The purpose C-2 zone is to provide commercial uses of medium intensity designed to be compatible with each other and to provide for a wide range of types of commercial activity within the district
Zone name
Intermediate Commercial
General category
COMMERCIAL
Zone area
13,095.06 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
INDUSTRIAL (GENERAL)
Est. value
$1.8M
INDUSTRIAL (GENERAL)
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
1964
Heating
NONE
Stories
1
Lot
0.55 ac
Current owner
From public records · entity-resolved
2519 Thomas LLC
Entity
Mailing address
4308 E PALM LN, PHOENIX, AZ 85008-3122
Ownership since
2022
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
Nov 14, 2022
$1,200,000
2519 Thomas LLC
Ns Building LLC
Special Warranty Deed
$654,730 · First Fidelity Bank
Nov 14, 2022
—
2519 Thomas LLC
—
Deed
related
$447,000 · Cdc Small Business Finance Corp
Feb 1, 2017
—
Ns Building LLC
—
Deed
related
$1,150,000 · Bnlm LLC
Dec 23, 2011
—
Ns Building LLC
Shlita,nineff
Quit Claim Deed
related
—
Sep 29, 2011
$210,000
Nineff Shlita
Zions First Natl Bk
Grant Deed
—
Jun 6, 2011
$404,363
Zions First Natl Bk
Gillespie,margaret A
Trustees Deed
related
—
May 8, 2007
—
Sergio C Quintana
Chacon,david V
Quit Claim Deed
related
—
Sep 2, 2005
$700,000
David V Chacon
Azjmb LLC
Warranty Deed
$525,000 · Zions First National Bank
Jul 20, 2004
—
Azjmb LLC
Mjb Investments LLC
Warranty Deed
related
$515,000 · Sfg Of Arizona
Jul 23, 1998
$300,000
Mjb Investments LLC
Store Equipment Co
Grant Deed
$230,000 · M & I Thunderbird Bank
—
—
Ns Building LLC
—
Deed Of Trust
related
$1,150,000 · Bnlm LLC
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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