Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    Property profile & analytics

    2801 15th Ave Phoenix, AZ 85007-1002

    • Turn key restaurants
    • 8,348 SF
    • 1.42 lot acres
    OFF-MARKET
    Last Sale
    Jun 30, 2022
    $4,950,000
    Value Estimations
    $5,610,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US07-1089051
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Original Hamburger Works / Hamburger Restaurant

    Property Details for 2801 15th Ave

    Year built
    1951
    Construction
    CONCRETE
    Lot size
    1.42 lot acres
    Property size
    8,348 SF
    Zone code
    C-1
    Property type
    Turn key restaurants
    APN
    111-03-012
    APU
    11103012

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $5,615,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $5,718,000
      Market price range: $2.17M - $6.92M
      AI Estimate
      $5,349,000
      Market price range: $1.83M - $6.63M

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Phoenix
    County
    Maricopa
    State
    Arizona
    Longitude
    -112.091
    Latitude
    33.48
    CBSA code
    38060
    CBSA name
    PHOENIX-MESA-SCOTTSDALE, AZ METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $29,608
    $0.00
    $0.00
    $604,513
    -
    $1,552,300
    $2,111,416
    $3,663,716

    Comparable in this City

    • Value Estimation by Request
      7,706 SF

      1344 Mckinley St

      RESTAURANT • 7,706 SF
      1344 Mckinley St, Phoenix, AZ 85007-2774
      View Details
    • Value Estimation by Request
      9,507 SF

      1516 Van Buren St

      RESTAURANT • 9,507 SF
      1516 Van Buren St, Phoenix, AZ 85007-2414
      View Details
    • Value Estimation by Request
      3,744 SF

      1733 Van Buren St

      RESTAURANT • 3,744 SF
      1733 Van Buren St, Phoenix, AZ 85007-2417
      View Details
    • Value Estimation by Request
      2,100 SF

      711 Pima St

      RESTAURANT • 2,100 SF
      711 Pima St, Phoenix, AZ 85007-3910
      View Details
    • Value Estimation by Request
      3,815 SF

      1515 15th Ave

      RESTAURANT • 3,815 SF
      1515 15th Ave, Phoenix, AZ 85007-1850
      View Details
    • Value Estimation by Request
      1,350 SF

      925 Grand Ave

      RESTAURANT • 1,350 SF
      925 Grand Ave, Phoenix, AZ 85007-2511
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      3,400 SF

      Freestanding Retail Building in Phoenix

      3,400 SF retail building with restaurant buildout and outdoor dining.
      1714 W Van Buren St, Phoenix, AZ 85007
      View Details
    • Contact for pricing
      1,000 SF

      Retail Space Attached to Apartments

      Retail space connected to a 12-unit multifamily property.
      1605 W Latham St, Phoenix, AZ 85007
      View Details
    • $2,435,000
      2,988 SF

      Circle K Investment Property

      NNN leased Circle K in Phoenix, Arizona for sale.
      1842 W Grant St, Phoenix, AZ 85007
      View Details
    • $2,927,000
      2,680 SF

      Phoenix Retail NNN Investment Opportunity

      NNN leased retail property with long-term operating history near downtown.
      1602 S 7Th Ave, Phoenix, AZ 85007
      View Details
    • $6,220,000
      30,047 SF

      Phoenix Retail Showroom with Drive-Thru

      Retail showroom with drive-thru, high ceilings, and convenient loading.
      1805 E Mcdowell Rd, Phoenix, AZ 85007
      View Details
    • $333,000
      0.15 Acres

      Commercial Lot on Buckeye Road

      Affordable, paved commercial lot with broad commercial uses available.
      1117 W Buckeye Rd, Phoenix, AZ 85007
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      1,835 SF

      Freestanding Drive-Thru Restaurant For Lease

      1,835 SF drive-thru restaurant on a hard corner location.
      1302 E Mcdowell Rd, Phoenix, AZ 85007
      View Details
    • Contact for pricing
      1,054 SF

      Retail Space on McDowell Road

      Retail space available in a high-traffic Phoenix location.
      1515 N 7Th Ave, Phoenix, AZ 85007
      View Details
    • Contact for pricing

      Paved Parking Near State Fairgrounds

      Paved parking lot with 70+ spaces near fairgrounds.
      1414 N 17Th Ave, Phoenix, AZ 85007
      View Details
    • Contact for pricing
      2,901 SF

      Prime Retail Space Available

      Retail space with high visibility in a high-traffic area.
      1605 N 7Th Ave, Phoenix, AZ 85007
      View Details
    • Contact for pricing
      9,583 SF

      Downtown Phoenix Warehouse/Retail/Office Space

      Warehouse, retail, and office spaces available for lease in Phoenix.
      1805 W Van Buren St, Phoenix, AZ 85007
      View Details
    • $6 SF/Yr
      104,000 SF

      Downtown Phoenix Redevelopment Site

      Prime City Block, Huge Potential
      1450 7Th Ave, Phoenix, AZ 85007
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    2801 15th Ave
    Phoenix, AZ 85007-1002
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.