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Property profile & analytics
OFF-MARKET
Estimated value
$14,460,000
Warehouses
2628 Indian School Rd Phoenix, AZ 85016
Entity Owned
21-yr Hold
~
Est. High Equity
Property ID
US07-1004667
Property profile
Verified
Property type
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Year built
1987
Construction
CONCRETE
Total area
33,380 SF
Lot
4.23 ac (184,313 SF)
Zoning code
C-G
APN
163-05-029B
UPID
US07-1004667
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$14.61M
Blend (final)
Blend
$14.46M
Owner & transaction history
Arec 10 LLC · 21 yrs held
Arec 10 LLC
since 2005
4 recorded transactions
Zoning & alternative use
C-G · Phoenix, AZ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Source
Public/Zoning (MapServer)
Top alternative use upside
Commercial (general)
$23.2M
+168.3%
Restaurant
$17.8M
+105.8%
Auto repair, garage
$14.1M
+62.8%
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)
$23,245,000
Change: +168% · Conversion: Difficult
RESTAURANT
$17,825,000
Change: +106% · Conversion: Difficult
AUTO REPAIR, GARAGE
$14,105,000
Change: +63% · Conversion: Easy
RETAIL STORES
$9,245,000
Change: +7% · Conversion: Moderate
MEDICAL BUILDING
$8,860,000
Change: +2% · Conversion: Difficult
OFFICE BUILDING
$8,675,000
Change: +0% · Conversion: Difficult
Blend value · Realmo final
$14.46M
Range $13.01M – $15.91M · ±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
$433 / 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 2022Property tax & assessments
Tax year 2022
Tax billed
$79,612
Tax year 2022
Assessed value
$1,342,647
Assessed 2024
Previous assessed
$1,031,917
+30.1% YoY
Effective rate
5.93%
On assessed value
Land market value
$5,815,000
Improvement market value
$2,322,255
Total market value
$8,137,255
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
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Status
Off-Market
Year built
1987
Construction
CONCRETE
Heating
PACKAGE
Cooling
YES
Buildings
6
Stories
2
Units
5
Total area
33,380 SF
Lot
4.23 ac (184,313 SF)
Zoning code
C-G
APN
163-05-029B
UPID
US07-1004667
Jurisdiction
MARICOPA
Zoning & alternative use
C-G · Phoenix, AZZoning C-G · permitted uses
C-G · Phoenix, AZ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Source
Public/Zoning (MapServer)
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL)
Est. value
$23.2M
RESTAURANT
Est. value
$17.8M
AUTO REPAIR, GARAGE
Est. value
$14.1M
RETAIL STORES
Est. value
$9.2M
MEDICAL BUILDING
Est. value
$8.9M
OFFICE BUILDING
Est. value
$8.7M
COMMERCIAL (GENERAL)
RESTAURANT
AUTO REPAIR, GARAGE
RETAIL STORES
MEDICAL BUILDING
OFFICE BUILDING
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
1987
Construction
CONCRETE
Heating
PACKAGE
Cooling
Yes
Stories
2
Buildings
6
Units
5
Lot
4.23 ac
Current owner
From public records · entity-resolved
Arec 10 LLC
Entity
Mailing address
PO BOX 29046, PHOENIX, AZ 85038-9046
Ownership since
2005
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 29, 2005
—
Arec 10 LLC
Amerco Real Estate Co
Other
$240,000,000 · Morgan Stanley Mortgage Capital INC
May 24, 1994
$1,300,000
Amerco Real Estate Co
O'malley Lumber
Grant Deed
—
—
—
Amerco Real Estate Co
—
Deed Of Trust
related
—
—
—
Two Sac Self Storage Corp
—
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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