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Property profile & analytics
OFF-MARKET
Estimated value
$97,620,000
Showrooms
3003 38th St, Phoenix, AZ 85040-1657
Entity Owned
5-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US07-2249926
Property profile
Verified
Property type
Showrooms
Use group
SHOW ROOM, WAREHOUSE
Year built
2020
Total area
211,900 SF
Lot
16.25 ac (707,635 SF)
Zoning code
A-1
APN
122-01-079
UPID
US07-2249926
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
-
Pinpoint Logistics Courier Service Postal Service
-
Amazon DTU8 Warehouse & Storage
-
Amazon Hub Locker - Ouray Postal Service Courier Service
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$104.30M
Blend (final)
Blend
$97.62M
Owner & transaction history
Conor Globe 40th Street LLC · 5 yrs held
Conor Globe 40th Street LLC
since 2021
1 recorded transaction
Zoning & alternative use
A-1 · Phoenix, AZ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$120.1M
+9.0%
Restaurant
$113.2M
+2.7%
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)
$110,210,000
Current use
OFFICE BUILDING
$120,095,000
Change: +9% · Conversion: Easy
RESTAURANT
$113,160,000
Change: +3% · Conversion: Difficult
AUTO REPAIR, GARAGE
$89,540,000
Change: -19% · Conversion: Difficult
Blend value · Realmo final
$97.62M
Range $87.86M – $107.38M · ±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
$461 / 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
$703,647
Tax year 2023
Assessed value
$6,709,929
Assessed 2024
Previous assessed
$7,510,277
-10.7% YoY
Effective rate
10.49%
On assessed value
Land market value
$3,680,001
Improvement market value
$36,986,235
Total market value
$40,666,236
Applied tax rate
661,300.0000
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
Showrooms
Use group
SHOW ROOM, WAREHOUSE
Status
Off-Market
Year built
2020
Heating
NONE
Buildings
2
Stories
1
Units
2
Total area
211,900 SF
Lot
16.25 ac (707,635 SF)
Zoning code
A-1
APN
122-01-079
UPID
US07-2249926
Jurisdiction
MARICOPA
Zoning & alternative use
A-1 · Phoenix, AZ
Zoning A-1 · permitted uses
A-1 · 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
COMMERCIAL (GENERAL) Current
Est. value
$110.2M
OFFICE BUILDING
Est. value
$120.1M
RESTAURANT
Est. value
$113.2M
AUTO REPAIR, GARAGE
Est. value
$89.5M
COMMERCIAL (GENERAL) Current
OFFICE BUILDING
RESTAURANT
AUTO REPAIR, GARAGE
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
2020
Heating
NONE
Stories
1
Buildings
2
Units
2
Lot
16.25 ac
Current owner
From public records · entity-resolved
Conor Globe 40th Street LLC
Entity
Mailing address
6730 N SCOTTSDALE RD STE #250, SCOTTSDALE, AZ 85253-4416
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 23, 2021
—
Conor Globe 40th Street LLC
—
Deed
related
$37,500 · Life Insurance Company Of The Southwest
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.
Try Rey
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