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Property profile & analytics
OFF-MARKET
Estimated value
$123,755,000
Specialty properties
2902 Sweetwater Ave, Phoenix, AZ 85029-1398
Entity Owned
3-yr Hold
Property ID
US07-3478236
Property profile
Verified
Property type
Specialty properties
Use group
PROFESSIONAL CLUBS/ASSOCIATIONS
Year built
1999
Construction
STEEL FRAME
Total area
6,484 SF
Lot
22.4 ac (975,831 SF)
Zoning code
R-4
APN
149-23-010
UPID
US07-3478236
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
-
Accountant Phoenix Accounting Firm
-
Mixx It Entertainment Nightclub Music Venue
-
Skyline Town Car Service Limousine Service
-
Sow & Grow Cleaning Services LLC (Bike/Boat/Book/etc) Store
-
Onaco Studio#37 Gym & Fitness Center Theater & Performing Art Venue
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$130.76M
Blend (final)
Blend
$123.76M
Owner & transaction history
Prcp Az Sweetwater LLC · 3 yrs held
Prcp Az Sweetwater LLC
since 2023
Last sale
$115.0M
7 recorded transactions
Zoning & alternative use
R-4 · Phoenix, AZ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
$131,885,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$123.76M
Range $111.38M – $136.13M · ±10% · vs last sale $115.00M (Mar 13 2023)
Last sale anchor
$115.00M
Mar 13 2023
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
$19,086 / 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
$550,864
Tax year 2023
Assessed value
$12,579,900
Assessed 2024
Previous assessed
$11,251,450
+11.8% YoY
Effective rate
4.38%
On assessed value
Land market value
$22,735,400
Improvement market value
$103,063,600
Total market value
$125,799,000
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
Specialty properties
Use group
PROFESSIONAL CLUBS/ASSOCIATIONS
Status
Off-Market
Year built
1999
Construction
STEEL FRAME
Heating
PACKAGE
Cooling
YES
Buildings
45
Stories
1
Units
520
Total area
6,484 SF
Lot
22.4 ac (975,831 SF)
Zoning code
R-4
APN
149-23-010
UPID
US07-3478236
Jurisdiction
MARICOPA
Zoning & alternative use
R-4 · Phoenix, AZ
Zoning R-4 · permitted uses
R-4 · 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.
Building & site characteristics
From public records
Year built
1999
Construction
STEEL FRAME
Heating
PACKAGE
Cooling
Yes
Stories
1
Buildings
45
Units
520
Lot
22.4 ac
Current owner
From public records · entity-resolved
Prcp Az Sweetwater LLC
Entity
Mailing address
10455 RIVERSIDE DR STE #200, PALM BEACH GARDENS, FL 33410-4332
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
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 13, 2023
$115,000,000
Prcp Az Sweetwater LLC
Covington Fee Owner LLC
Special Warranty Deed
$75,935,000 · Berkeley Point Capital LLC
Jul 30, 2019
$77,260,000
Covington Fee Owner LLC
Arizona 520 Investors Ll
Grant Deed
$54,250,000 · Cbre Cap Markets
Apr 1, 2019
—
Cpa-ii LLC
Arizona 520 Investors LLC
Grant Deed
—
May 31, 2012
$40,720,000
Arizona 520 Investors LLC
Wm Metro North LLC
Special Warranty Deed
$29,100,000 · Cbre Multifamily Capital INC
Sep 29, 2005
$41,250,000
Wm Metro North LLC
Legacy Park Apartments LLC
Grant Deed
$27,500,000 · Massachusetts Mutual Life Ins
Jan 28, 1999
$4,245,550
Legacy Park Apartments LLC
T-bird Bp
Trustees Deed
—
Jan 28, 1999
$400,000
Legacy Park Apartments LLC
Cmb I LLC
Trustees Deed
$28,000,000 · Gmac Commercial Mortgage Corp
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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