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Property profile & analytics
OFF-MARKET
Medical Office Space
2828 Larkspur Dr Phoenix, AZ 85029
Entity Owned
3-yr Hold
Free & Clear
Property ID
US07-3348365
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1961
Construction
STEEL FRAME
Total area
1,200 SF
Lot
0.28 ac (12,193 SF)
Zoning code
C-1
APN
149-21-013A
UPID
US07-3348365
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
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Al Ghazi Family LLC · 3 yrs held
Al Ghazi Family LLC
since 2023
7 recorded transactions
Zoning & alternative use
C-1 · Phoenix, AZ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The purpose C-1 zone is to provide light neighborhood type retail and customer service uses designed to be compatible with each other and nearby residential districts
Zone name
Neighborhood Retail Commercial
General category
COMMERCIAL
Zone area
1,755.38 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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
$4,178
Tax year 2022
Assessed value
$37,224
Assessed 2024
Previous assessed
$37,320
-0.3% YoY
Effective rate
11.22%
On assessed value
Land market value
$130,100
Improvement market value
$95,502
Total market value
$225,602
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
Off-Market
Year built
1961
Construction
STEEL FRAME
Heating
PACKAGE
Cooling
YES
Stories
1
Total area
1,200 SF
Lot
0.28 ac (12,193 SF)
Zoning code
C-1
APN
149-21-013A
UPID
US07-3348365
Jurisdiction
MARICOPA
Zoning & alternative use
C-1 · Phoenix, AZZoning C-1 · permitted uses
C-1 · 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-1 zone is to provide light neighborhood type retail and customer service uses designed to be compatible with each other and nearby residential districts
Zone name
Neighborhood Retail Commercial
General category
COMMERCIAL
Zone area
1,755.38 ac
Source
Realmo
Building & site characteristics
From public records
Year built
1961
Construction
STEEL FRAME
Heating
PACKAGE
Cooling
Yes
Stories
1
Lot
0.28 ac
Current owner
From public records · entity-resolved
Al Ghazi Family LLC
Entity
Free & Clear · 3 yrs held
Mailing address
3449 E CORTEZ ST, PHOENIX, AZ 85028-2025
Ownership since
2023
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
Mar 13, 2023
—
Al Ghazi Family LLC
Royalty Group Properties LLC
Warranty Deed
—
Nov 10, 2022
—
Royalty Group Properties LLC
—
Deed
related
$170,000 · Rodenburg Ira LLC
Jul 9, 2020
$630,000
Harbor Health Care INC
Royalty Group Properties L
Warranty Deed
$555,000 · Royalty Group Props LLC
May 26, 2020
$420,000
District Phx LLC
Calvary Community Church
Grant Deed
—
May 26, 2020
$510,000
Royalty Group Properties LLC
The District Phx LLC
Special Warranty Deed
$350,000 · Ez Homes INC
Nov 7, 2012
—
Calvary Cmnty Ch A Calvary Cha
—
Grant Deed
related
$11,465,000 · Bank Of The West
Aug 17, 2007
—
Calvary Community Ch
Owner Name Unavailable
Grant Deed
related
—
Sep 24, 2004
$200,000
Calvary Community Church
Brittan,shawn C
Warranty Deed
related
—
Sep 3, 2004
—
Shawn C Brittan
Brittan,teresa
Quit Claim Deed
related
—
Jun 1, 1992
$72,500
Shawn Brittan
Waldrep
Grant Deed
related
$69,000 · Seller
Mar 31, 1989
—
James R Waldrep
Unknown
Grant Deed
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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