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Property profile & analytics
OFF-MARKET
Estimated value
$5,075,000
Office buildings
308 Palm Ln Phoenix, AZ 85004
Entity Owned
14-yr Hold
~
Est. High Equity
Property ID
US07-0140134
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1980
Construction
CONCRETE
Total area
21,600 SF
Lot
0.99 ac (43,002 SF)
Zoning code
C-O
APN
118-53-054A
UPID
US07-0140134
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
$5.07M
Blend (final)
Blend
$5.08M
Owner & transaction history
2001 North 3rd Street LLC · 14 yrs held
2001 North 3rd Street LLC
since 2012
7 recorded transactions
Zoning & alternative use
C-O · 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
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
OFFICE BUILDING
$6,530,000
Current use
RETAIL STORES
$6,435,000
Change: -1% · Conversion: Moderate
MEDICAL BUILDING
$5,735,000
Change: -12% · Conversion: Easy
WAREHOUSE, STORAGE
$5,605,000
Change: -14% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$5,500,000
Change: -16% · Conversion: Difficult
Blend value · Realmo final
$5.08M
Range $4.57M – $5.58M · ±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
$235 / 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
$35,072
Tax year 2023
Assessed value
$560,291
Assessed 2024
Previous assessed
$367,353
+52.5% YoY
Effective rate
6.26%
On assessed value
Land market value
$1,309,800
Improvement market value
$2,085,900
Total market value
$3,395,700
Applied tax rate
11,303.0000
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1980
Construction
CONCRETE
Heating
PACKAGE
Cooling
YES
Stories
2
Total area
21,600 SF
Lot
0.99 ac (43,002 SF)
Zoning code
C-O
APN
118-53-054A
UPID
US07-0140134
Jurisdiction
MARICOPA
Zoning & alternative use
C-O · Phoenix, AZ
Zoning C-O · permitted uses
C-O · 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
OFFICE BUILDING Current
Est. value
$6.5M
RETAIL STORES
Est. value
$6.4M
MEDICAL BUILDING
Est. value
$5.7M
WAREHOUSE, STORAGE
Est. value
$5.6M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$5.5M
OFFICE BUILDING Current
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
1980
Construction
CONCRETE
Heating
PACKAGE
Cooling
Yes
Stories
2
Lot
0.99 ac
Current owner
From public records · entity-resolved
2001 North 3rd Street LLC
Entity
Mailing address
3637 E MIAMI AVE, PHOENIX, AZ 85040-1630
Ownership since
2012
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
14 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 22, 2021
—
2001 North 3rd Street LLC
—
Deed
related
$2,300,000 · Ameritas Life Insurance Corp
Dec 31, 2020
—
2001 North 3rd Street LLC
—
Deed
related
$15,000,000 · Hillcrest Bk
Jun 27, 2017
—
2001 North 3rd Street LLC
—
Deed
related
—
Jun 15, 2012
$1,170,000
2001 North 3rd Street LLC
Arizona Cimarron Partners LP
Grant Deed
$1,200,000 · Acacia Life Insurance Co
Dec 27, 2004
$1,708,500
Dale Terrace LLC
Arizona Cimarron Partners
Warranty Deed
related
—
Jun 28, 2004
$2,435,000
Arizona Cimarron Partners Lpp
Tres Palmas Investments LLC
Grant Deed
related
—
Jan 6, 2004
$2,225,000
Tres Palmas Investments LLC
Palm At Third LLC
Grant Deed
related
$1,625,000 · First Federal Savings Bank
Jun 12, 2000
$1,685,000
Palm At Third LLC
Palm Lane Office Income Inv LP
Grant Deed
related
—
Mar 17, 1994
$810,400
Palm Lane Office Income Investor
Palm Lane Profes
Grant Deed
related
$1,000,000 · Seller Carry Back
May 27, 1992
$50,000
Palm Lane Professional Building
Stoddart
Grant Deed
related
—
Mar 1, 1990
—
Stoddart Family
Palm Ln Professi
Grant Deed
related
—
—
—
Thomas W Meissner
—
Deed Of Trust
related
$100,000 · Valley National Bank Arizona
—
—
2001 North 3rd Street LLC
—
Deed Of Trust
related
$15,000,000 · Hillcrest Bk
—
—
Arizona Cimarron Partner
—
Deed Of Trust
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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