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Property profile & analytics
FOR LEASE
Medical Office Space
2525 W Greenway Rd, Phoenix, AZ 85023
Entity Owned
Absentee Owner
Free & Clear
Property ID
US07-0895071
For Lease
1 / 3
$9,460,000
2525 W Greenway Rd, Phoenix, AZ 85023
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Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1975
Construction
CONCRETE
Total area
34,495 SF
Lot
2.09 ac (90,866 SF)
Zoning code
R-5
APN
208-15-007U
UPID
US07-0895071
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
-
Alt Software (Bike/Boat/Book/etc) Store Corporate Office
-
Victor John Zannis Physician
-
Arizona Center For Cancer Care Medical Clinic Hospital
-
Stevens Teresa M De Alternative Medicine Practice
-
ExpressCare Labs Medical Laboratory
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$9.60M
Blend (final)
Blend
$9.46M
Owner & transaction history
City Of Phoenix
City Of Phoenix
since 2026
7 recorded transactions
Zoning & alternative use
R-5 · Phoenix, AZ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$14.6M
+59.2%
Office building
$10.4M
+13.1%
Retail stores
$10.3M
+12.3%
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
MEDICAL BUILDING
$9,155,000
Current use
AUTO REPAIR, GARAGE
$14,575,000
Change: +59% · Conversion: Difficult
OFFICE BUILDING
$10,350,000
Change: +13% · Conversion: Easy
RETAIL STORES
$10,280,000
Change: +12% · Conversion: Difficult
WAREHOUSE, STORAGE
$8,955,000
Change: -2% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$8,780,000
Change: -4% · Conversion: Difficult
Blend value · Realmo final
$9.46M
Range $8.51M – $10.41M · ±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
$274 / 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
$56,038
Tax year 2023
Assessed value
$1,215,506
Assessed 2024
Previous assessed
$1,052,708
+15.5% YoY
Effective rate
4.61%
On assessed value
Land market value
$1,156,600
Improvement market value
$6,210,100
Total market value
$7,366,700
Applied tax rate
61,300.0000
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
For Lease
Year built
1975
Construction
CONCRETE
Heating
CENTRAL
Cooling
CENTRAL
Buildings
2
Stories
3
Units
2
Total area
34,495 SF
Lot
2.09 ac (90,866 SF)
Zoning code
R-5
APN
208-15-007U
UPID
US07-0895071
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
MEDICAL BUILDING Current
Est. value
$9.2M
AUTO REPAIR, GARAGE
Est. value
$14.6M
OFFICE BUILDING
Est. value
$10.4M
RETAIL STORES
Est. value
$10.3M
WAREHOUSE, STORAGE
Est. value
$9.0M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$8.8M
MEDICAL BUILDING Current
AUTO REPAIR, GARAGE
OFFICE BUILDING
RETAIL STORES
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
1975
Construction
CONCRETE
Heating
CENTRAL
Cooling
Yes
Stories
3
Buildings
2
Units
2
Lot
2.09 ac
Current owner
From public records · entity-resolved
City Of Phoenix
Entity
Free & Clear · 0 yrs held
Mailing address
10632 N SCOTTSDALE RD #166, SCOTTSDALE, AZ 85254-6164
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2026
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
Feb 2, 2026
—
City Of Phoenix
Riii Ld Park Terrace Owner LLC
Warranty Deed
—
May 21, 2020
—
2525 W Greenway Holdings LLC
—
Deed Of Trust
related
$3,850,000 · First Citizens Bk
Aug 29, 2019
$2,409,680
2525 W Greenway Holdings Ll
8686 Central LLC
Trustees Deed
$3,000,000 · Firstbank
Jul 19, 2017
$1,800,000
8686 Central L L C
2620 West Broadway L L C
Special Warranty Deed
$1,150,800 · The First National Bank Of Layton
Mar 27, 1998
$1,435,000
2620 W Broadway LLC
2525 W Greenway Medical Buildi
Grant Deed
—
Sep 1, 1994
$425,000
Rtc
Deer Valley Medical Ltd
Trustees Deed
—
—
—
2525 West Greenway Medical Build
—
Deed Of Trust
related
$140,000 · National Bank Canada
—
—
2525 W Greenway Medical Building
—
Deed Of Trust
related
$100,000 · National Bank Canada
—
—
2525 West Greenway Medical Build
—
Deed Of Trust
related
—
—
—
G P Cynr
—
Deed Of Trust
related
$325,000 · Seller
—
—
2620 West Broadway LLC
—
Deed Of Trust
related
$1,150,000 · Canada Life Insurance Co Ameri
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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