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Property profile & analytics
OFF-MARKET
Estimated value
$3,915,000
Flex space
2835 Grovers Ave, Phoenix, AZ 85053-1919
Entity Owned
21-yr Hold
~
Est. High Equity
Property ID
US07-3281338
Property profile
Verified
Property type
Flex space
Use group
LIGHT INDUSTRIAL
Year built
1995
Construction
CONCRETE
Total area
9,904 SF
Lot
1.37 ac (59,704 SF)
Zoning code
IND.PK.
APN
207-04-231
UPID
US07-3281338
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
-
Cline Labs Inc Corporate Office
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$3.92M
Blend (final)
Blend
$3.92M
Owner & transaction history
Cline Labs INC · 21 yrs held
Cline Labs INC
since 2004
7 recorded transactions
Zoning & alternative use
IND.PK. · Phoenix, AZ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$5.3M
+142.7%
Auto repair, garage
$4.2M
+92.1%
Office building
$3.0M
+36.4%
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
RESTAURANT
$5,290,000
Change: +143% · Conversion: Difficult
AUTO REPAIR, GARAGE
$4,185,000
Change: +92% · Conversion: Easy
OFFICE BUILDING
$2,970,000
Change: +36% · Conversion: Difficult
RETAIL STORES
$2,950,000
Change: +35% · Conversion: Moderate
MEDICAL BUILDING
$2,630,000
Change: +21% · Conversion: Difficult
WAREHOUSE, STORAGE
$2,570,000
Change: +18% · Conversion: Easy
Blend value · Realmo final
$3.92M
Range $3.52M – $4.31M · ±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
$395 / 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
$16,874
Tax year 2023
Assessed value
$380,127
Assessed 2024
Previous assessed
$298,282
+27.4% YoY
Effective rate
4.44%
On assessed value
Land market value
$778,300
Improvement market value
$1,525,500
Total market value
$2,303,800
Applied tax rate
971,300.0000
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
1995
Construction
CONCRETE
Heating
PACKAGE
Cooling
YES
Buildings
2
Stories
1
Units
2
Total area
9,904 SF
Lot
1.37 ac (59,704 SF)
Zoning code
IND.PK.
APN
207-04-231
UPID
US07-3281338
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
RESTAURANT
Est. value
$5.3M
AUTO REPAIR, GARAGE
Est. value
$4.2M
OFFICE BUILDING
Est. value
$3.0M
RETAIL STORES
Est. value
$3.0M
MEDICAL BUILDING
Est. value
$2.6M
WAREHOUSE, STORAGE
Est. value
$2.6M
RESTAURANT
AUTO REPAIR, GARAGE
OFFICE BUILDING
RETAIL STORES
MEDICAL BUILDING
WAREHOUSE, STORAGE
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
1995
Construction
CONCRETE
Heating
PACKAGE
Cooling
Yes
Stories
1
Buildings
2
Units
2
Lot
1.37 ac
Current owner
From public records · entity-resolved
Cline Labs INC
Entity
Mailing address
2835 W GROVERS AVE, PHOENIX, AZ 85053-1919
Ownership since
2004
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 20, 2004
$895,000
Cline Labs INC
Rex,henry & Marion
Grant Deed
related
$830,000 · Sonoma National Bank
Aug 26, 1994
$74,425
Henry Rex
Courtland Homes
Grant Deed
related
$432,000 · Republic National Bank
Feb 15, 1994
$1,010,750
Courtland Homes INC
Wingate Homes In
Grant Deed
related
—
Aug 3, 1993
$1,010,750
Wingate Homes INC
Rtc
Grant Deed
related
—
Jul 3, 1989
—
Sun State Saving
—
Deed Of Trust
related
—
Aug 1, 1988
$20,062,000
Gateway Par Bell
Kobel
Grant Deed
related
—
Jul 1, 1988
$20,062,000
Edward Kobel
Sun S
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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