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Property profile & analytics
OFF-MARKET
Estimated value
$940,000
Office buildings
323 Mcdowell Rd, Phoenix, AZ 85004-1534
Individually Owned
1-yr Hold
~
Est. High Equity
Property ID
US07-3306595
Property summary
AI-generated overview
This exceptional 7,310-square-foot commercial property, located at 323 W McDowell Rd in Phoenix, Arizona (zip code 85003), presents a unique investment opportunity. The single-story, 1926-built building boasts a flexible zoning designation within the Commercial Downtown McDowell Corridor (APN: 111-31-121-A), allowing for diverse uses including retail, office, and industrial. Currently, 6,550 square feet are vacant, divisible into spaces ranging from 750 to a maximum contiguous 5,800 square feet. The property features a 12-foot ceiling height, adding to its versatility. Eleven parking spaces and one drive-in bay are available. The building's prime location offers excellent visibility and accessibility, being seconds from the freeway and surrounded by restaurants and shopping, ensuring high traffic counts. While lacking elevators, this Class C property is ideal for businesses seeking a centrally located, adaptable space. Two suites are available within the building.
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1965
Construction
STEEL FRAME
Total area
2,377 SF
Lot
0.22 ac (9,460 SF)
Zoning code
DTC-MCD-2
APN
111-37-048
UPID
US07-3306595
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
-
NOVUS REALTY AGENCY Real Estate Agency
-
I Ride I Recycle Recycling Center Waste Management Facility
-
Arturo Galvez, Novus Realty Agency Real Estate Agency
-
HireQuest Direct of Phoenix Employment Agency
-
Agenda Nacional Radio Station Telecommunications Service
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$939k
Blend (final)
Blend
$940k
Owner & transaction history
Anita F Gutkin · 1 yrs held
Anita F Gutkin
since 2025
7 recorded transactions
Zoning & alternative use
DTC-MCD-2 · Phoenix, AZ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$1.0M
+39.8%
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
$720,000
Current use
AUTO REPAIR, GARAGE
$1,005,000
Change: +40% · Conversion: Difficult
RETAIL STORES
$710,000
Change: -1% · Conversion: Moderate
MEDICAL BUILDING
$630,000
Change: -12% · Conversion: Easy
WAREHOUSE, STORAGE
$615,000
Change: -14% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$605,000
Change: -16% · Conversion: Difficult
Blend value · Realmo final
$940k
Range $846k – $1.03M · ±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
$6,454
Tax year 2023
Assessed value
$103,752
Assessed 2024
Previous assessed
$82,212
+26.2% YoY
Effective rate
6.22%
On assessed value
Land market value
$423,600
Improvement market value
$205,200
Total market value
$628,800
Applied tax rate
11,300.0000
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1965
Construction
STEEL FRAME
Heating
HEAT PUMP
Stories
1
Total area
2,377 SF
Lot
0.22 ac (9,460 SF)
Zoning code
DTC-MCD-2
APN
111-37-048
UPID
US07-3306595
Jurisdiction
MARICOPA
Zoning & alternative use
DTC-MCD-2 · Phoenix, AZ
Zoning DTC-MCD-2 · permitted uses
DTC-MCD-2 · 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
$720,000
AUTO REPAIR, GARAGE
Est. value
$1.0M
RETAIL STORES
Est. value
$710,000
MEDICAL BUILDING
Est. value
$630,000
WAREHOUSE, STORAGE
Est. value
$615,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$605,000
OFFICE BUILDING 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
1965
Construction
STEEL FRAME
Heating
HEAT PUMP
Stories
1
Lot
0.22 ac
Current owner
From public records · entity-resolved
Anita F Gutkin
Individual
Mailing address
6037 E JENAN DR, SCOTTSDALE, AZ 85254-4972
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
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 14, 2025
—
Anita F Gutkin
Jerome S Gutkin
Deed
related
—
May 13, 2025
—
Jerome S Gutkin
Jerome S Gutkin
Deed
related
—
May 12, 2025
—
Jerome S Gutkin
323 East Mcdowell LLC
Special Warranty Deed
—
Apr 23, 2015
—
323 East Mcdowell LLC
Gutkin Jerome S & Anita F
Grant Deed
—
Jul 20, 2011
$182,800
Jerome S Gutkin
Boca,paul H
Grant Deed
—
Dec 20, 2004
$500,000
Glen M Lineberry
Middleman Family Trust
Warranty Deed
related
$527,680 · Sunrise Bank Of Arizona
Feb 19, 2004
—
Paul H Boca
Boca,terri M
Quit Claim Deed
related
$275,000 · Biltmore Bank Of Arizona
Jan 4, 1996
$175,000
Heskett Trust
Jack D Butler
Grant Deed
related
$150,000 · Seller
Dec 3, 1992
—
John D Frisby
Updike
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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