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Property profile & analytics
OFF-MARKET
Estimated value
$4,545,000
Flex space
2602 37th Dr Phoenix, AZ 85009-1347
Entity Owned
7-yr Hold
~
Est. High Equity
Property ID
US07-0401585
Property profile
Verified
Property type
Flex space
Use group
LIGHT INDUSTRIAL
Year built
1986
Construction
CONCRETE
Total area
8,384 SF
Lot
1.01 ac (44,133 SF)
Zoning code
IND.PK.
APN
108-11-035
UPID
US07-0401585
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
-
PLM Motorsports LLC Car Dealership
-
Spray Foam Insulation General Contractor
-
Amplified Health Production Facility
-
Retaining Wall General Contractor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$4.66M
Blend (final)
Blend
$4.55M
Owner & transaction history
Lnl Holdings LLC · 7 yrs held
Lnl Holdings LLC
since 2018
7 recorded transactions
Zoning & alternative use
IND.PK. · Phoenix, AZ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$5.5M
+119.4%
Restaurant
$4.5M
+77.9%
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)
$5,520,000
Change: +119% · Conversion: Difficult
RESTAURANT
$4,475,000
Change: +78% · Conversion: Difficult
Blend value · Realmo final
$4.55M
Range $4.09M – $5.00M · ±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
$542 / 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
$20,630
Tax year 2023
Assessed value
$248,523
Assessed 2024
Previous assessed
$213,401
+16.5% YoY
Effective rate
8.30%
On assessed value
Land market value
$251,900
Improvement market value
$1,254,300
Total market value
$1,506,200
Applied tax rate
51,300.0000
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
Flex space
Use group
LIGHT INDUSTRIAL
Status
Off-Market
Year built
1986
Construction
CONCRETE
Heating
HEAT PUMP
Cooling
EVAPORATIVE
Stories
1
Total area
8,384 SF
Lot
1.01 ac (44,133 SF)
Zoning code
IND.PK.
APN
108-11-035
UPID
US07-0401585
Jurisdiction
MARICOPA
Zoning & alternative use
IND.PK. · Phoenix, AZ
Zoning IND.PK. · permitted uses
IND.PK. · 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
$5.5M
RESTAURANT
Est. value
$4.5M
COMMERCIAL (GENERAL)
RESTAURANT
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
1986
Construction
CONCRETE
Heating
HEAT PUMP
Cooling
Yes
Stories
1
Lot
1.01 ac
Current owner
From public records · entity-resolved
Lnl Holdings LLC
Entity
Mailing address
221 W JOMAX RD, PHOENIX, AZ 85085-0692
Ownership since
2018
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
Oct 5, 2018
$735,000
Lnl Holdings LLC
Giddyup LLC
Warranty Deed
—
Jan 26, 2000
$474,000
Giddyup LLC
Buckholz,bryan R
Grant Deed
$381,656 · Bank Of America
Feb 28, 1996
—
Bryan Buckholz
Robert E Buckholz
Quit Claim Deed
related
—
Mar 23, 1995
—
Bryan E Buckholz
Buckholz
Quit Claim Deed
related
—
—
—
Bryan R Buckholz
—
Deed Of Trust
related
$175,000 · M & I Thunderbird Bank
—
—
Bryan R Buckholz
—
Deed Of Trust
related
$750,000 · M & I Thunderbird Bank
—
—
Bryan R Buckholz
—
Deed Of Trust
related
$220,000 · Norwest Bank
—
—
Bryan R Buckholz
—
Deed Of Trust
related
$125,000 · Norwest Bank
—
—
Giddyup LLC
—
Deed Of Trust
related
$365,000 · Hibernia National Bank
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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