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Property profile & analytics
OFF-MARKET
Estimated value
$10,165,000
Assisted living facilities
3008 3rd St Phoenix, AZ 85012-3002
Individually Owned
1-yr Hold
Free & Clear
Property ID
US07-0155037
Property summary
AI-generated overview
This exceptional 37,078 square foot medical office building, situated on a 1.8-acre lot in Phoenix, Arizona (APN 118-35-156), presents a unique owner-user investment opportunity. The Class B property, built in 1975 and extensively renovated in 2016, features 46 individual patient rooms with a potential for 92 beds with double occupancy. The building boasts a comprehensive array of amenities including a physical therapy center complete with a pool, and a full commercial kitchen. Zoned R-5, this three-story building offers significant potential for a variety of medical uses. Its prime location in Phoenix, within five miles of nine hospitals, ensures high visibility and accessibility. The property's Matterport 3D virtual tour provides a comprehensive view of the facility's layout and condition. This is a rare opportunity to acquire a well-maintained, established medical facility in a thriving healthcare market. The property is for sale by owner.
Property profile
Verified
Property type
Assisted living facilities
Use group
HOMES (RETIRED, NURSING)
Year built
1975
Construction
STEEL FRAME
Total area
33,108 SF
Lot
1.8 ac (78,214 SF)
Zoning code
P-1
APN
118-35-156
UPID
US07-0155037
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
-
Ivy K. Radciffe, APN Physician
-
Dr. Lanita A. Morrison, DMD Dental Office
-
Ali Hariri Dental Office
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$10.83M
Blend (final)
Blend
$10.17M
Owner & transaction history
Navajo Nation Of Indians · 1 yrs held
Navajo Nation Of Indians
since 2025
Last sale
$9.5M
7 recorded transactions
Zoning & alternative use
P-1 · Phoenix, AZ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
It is intended that the P-1 District will provide necessary off-street parking in appropriate locations for nonresidential uses located near residential districts
Zone name
Passenger Automobile Parking
General category
RESIDENTIAL
Zone area
318.48 ac
Source
Realmo
Top alternative use upside
Auto repair, garage
$14.0M
+86.5%
Retail stores
$9.9M
+31.5%
Medical building
$8.8M
+17.2%
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
HOMES (RETIRED, HANDICAP, REST, CONVALESCENT, NURSING)
$7,500,000
Current use
AUTO REPAIR, GARAGE
$13,990,000
Change: +87% · Conversion: Difficult
RETAIL STORES
$9,865,000
Change: +32% · Conversion: Difficult
MEDICAL BUILDING
$8,790,000
Change: +17% · Conversion: Difficult
WAREHOUSE, STORAGE
$8,595,000
Change: +15% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$8,425,000
Change: +12% · Conversion: Difficult
Blend value · Realmo final
$10.17M
Range $9.15M – $11.18M · ±10% · vs last sale $9.50M (Dec 21 2024)
Last sale anchor
$9.50M
Dec 21 2024
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
$307 / 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
$76,421
Tax year 2023
Assessed value
$1,465,960
Assessed 2024
Previous assessed
$1,206,740
+21.5% YoY
Effective rate
5.21%
On assessed value
Land market value
$3,967,300
Improvement market value
$10,692,300
Total market value
$14,659,600
Applied tax rate
81,300.0000
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
Assisted living facilities
Use group
HOMES (RETIRED, NURSING)
Status
Off-Market
Year built
1975
Construction
STEEL FRAME
Heating
PACKAGE
Cooling
YES
Stories
3
Total area
33,108 SF
Lot
1.8 ac (78,214 SF)
Zoning code
P-1
APN
118-35-156
UPID
US07-0155037
Jurisdiction
MARICOPA
Zoning & alternative use
P-1 · Phoenix, AZZoning P-1 · permitted uses
P-1 · Phoenix, AZ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
It is intended that the P-1 District will provide necessary off-street parking in appropriate locations for nonresidential uses located near residential districts
Zone name
Passenger Automobile Parking
General category
RESIDENTIAL
Zone area
318.48 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
HOMES (RETIRED, HANDICAP, REST, CONVALESCENT, NURSING) Current
Est. value
$7.5M
AUTO REPAIR, GARAGE
Est. value
$14.0M
RETAIL STORES
Est. value
$9.9M
MEDICAL BUILDING
Est. value
$8.8M
WAREHOUSE, STORAGE
Est. value
$8.6M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$8.4M
HOMES (RETIRED, HANDICAP, REST, CONVALESCENT, NURSING) Current
AUTO REPAIR, GARAGE
RETAIL STORES
MEDICAL BUILDING
WAREHOUSE, STORAGE
NEIGHBORHOOD: SHOPPING CENTER
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
1975
Construction
STEEL FRAME
Heating
PACKAGE
Cooling
Yes
Stories
3
Lot
1.8 ac
Current owner
From public records · entity-resolved
Navajo Nation Of Indians
Individual
Free & Clear · 1 yrs held
Mailing address
4675 MACARTHUR CT STE #1450, NEWPORT BEACH, CA 92660-8889
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
10 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 21, 2025
$9,500,000
Navajo Nation Of Indians
3008 N 3rd Street LLC
Warranty Deed
—
Jul 21, 2023
$7,000,000
Grand Canyon Development Holdings L
Menlo Realco Az Capstone LLC
Trustees Deed
related
—
Mar 12, 2020
—
Menlo Realco Az Capstone LLC
Menlo Realco Az Capstone LLC
Quit Claim Deed
related
$2,056,227 · Grand Canyon Dev Hldgs 2 LLC
Feb 16, 2012
$2,350,000
Menlo Realco Az Capstone LLC
Capstone Dev LLC
Grant Deed
$11,000,000 · Grand Canyon Dev Holdings 2 Ll
May 24, 2007
—
Capstone Dev LLC
Owner Name Unavailable
Grant Deed
related
—
Mar 22, 2007
—
Capstone Dev LLC
Heritage Office One
Quit Claim Deed
related
—
Dec 1, 2005
$2,950,000
Capstone Dev LLC
Sasinowski Trust
Trustees Deed
$2,100,000 · Sterling Bank
Nov 21, 2002
$2,300,000
Sasinowski,tr
Presson Advisory LLC
Grant Deed
$1,700,000 · Union Central Life Insurance
Dec 20, 1995
$1,510,661
L & L Holdings Ltd
Medical Center Group
Trustees Deed
related
—
—
—
Presson Advisory LLC
—
Deed Of Trust
related
$1,235,000 · Standard Moratgage Investors
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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