Back to Search
Property profile & analytics
FOR LEASE
Parking lots & garages
3330 N 2Nd St Phoenix, AZ 85004
Individually Owned
7-yr Hold
~
Est. High Equity
Property ID
US07-0022549
For Lease
1 / 12
$30 SF/Yr
3330 N 2Nd St, Phoenix, AZ 85004
View Listing →
Property summary
AI-generated overview
Invest in this prime Midtown Phoenix medical office building, the Osborn Medical Plaza. This Class B property, built in 1985, offers 50,778 square feet of space with multiple tenancy options. Suites range from a minimum of 604 square feet to a maximum contiguous space of 13,307 square feet, with 4,123 square feet currently vacant. The property sits on 1.79 acres of land (APN: 118-34-110) and is zoned P-2. Conveniently located at 3330 N 2nd St, Phoenix, AZ 85004, this building boasts an excellent central location with nearby retail and restaurants. Enjoy easy access to the Central Ave & Osborn light rail station. The building features a three-level, on-site parking garage with direct building access and a covered patient drop-off and pick-up area. Current common area renovations include new flooring and paint in lobbies and restrooms, along with garage improvements. Attractive tenant improvement packages are available. Professional on-site building management ensures a smooth operation. No elevators are present in this building.
Property profile
Verified
Property type
Parking lots & garages
Use group
PARKING GARAGE, PARKING STRUCTURE
Year built
1985
Construction
CONCRETE
Total area
62,565 SF
Lot
1.79 ac (77,924 SF)
Zoning code
C-O
APN
118-34-110
UPID
US07-0022549
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
-
Denova Collaborative Health, Bella Vista Medical Clinic
-
Banner Health Physician
-
Narayanan Vinodh MD Physician Medical Clinic
-
Affiliated Eye Surgeons Physician
-
DM Clinical Research- Phoenix Medical Clinic
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$39.01M
Blend (final)
Blend
$38.30M
Owner & transaction history
Cmk2 Phoenix · 7 yrs held
Cmk2 Phoenix
since 2018
6 recorded transactions
Zoning & alternative use
C-O · Phoenix, AZ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$43.6M
+105.3%
Restaurant
$33.4M
+57.4%
Auto repair, garage
$26.4M
+24.6%
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)
$43,570,000
Change: +105% · Conversion: Difficult
RESTAURANT
$33,410,000
Change: +57% · Conversion: Difficult
AUTO REPAIR, GARAGE
$26,435,000
Change: +25% · Conversion: Difficult
Blend value · Realmo final
$38.30M
Range $34.47M – $42.12M · ±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
$612 / 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
$232,637
Tax year 2023
Assessed value
$4,554,514
Assessed 2024
Previous assessed
$3,785,543
+20.3% YoY
Effective rate
5.11%
On assessed value
Land market value
$5,065,000
Improvement market value
$22,538,113
Total market value
$27,603,113
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
Parking lots & garages
Use group
PARKING GARAGE, PARKING STRUCTURE
Status
For Lease
Year built
1985
Construction
CONCRETE
Heating
NONE
Buildings
4
Stories
2
Units
3
Total area
62,565 SF
Lot
1.79 ac (77,924 SF)
Zoning code
C-O
APN
118-34-110
UPID
US07-0022549
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
COMMERCIAL (GENERAL)
Est. value
$43.6M
RESTAURANT
Est. value
$33.4M
AUTO REPAIR, GARAGE
Est. value
$26.4M
COMMERCIAL (GENERAL)
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
1985
Construction
CONCRETE
Heating
NONE
Stories
2
Buildings
4
Units
3
Lot
1.79 ac
Current owner
From public records · entity-resolved
Cmk2 Phoenix
Individual
Mailing address
800 W MADISON ST STE #400, CHICAGO, IL 60607-2481
Ownership since
2018
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 10, 2018
$5,000,000
Cmk2 Phoenix
Phoenix Medical Properties LP
Special Warranty Deed
related
$498,558 · Capital One Bank NA
Feb 1, 2006
$12,100,000
Cnl Retirement Crs1 Phoenix Az LP
Paz Osborn LP
Special Warranty Deed
$56,330,000 · Countrywide Commercial Real Estate
Nov 19, 2004
$9,500,000
Paz Osborn
Central & Osborn Medical Ptrs
Grant Deed
$7,500,000 · Aries Capital INC
Aug 28, 2003
$8,600,000
Central & Osborn Medical Partn
Itw Mortgage Investments II
Grant Deed
$7,400,000 · First National Bank Arizona
Jul 15, 1997
$4,200,000
Itw Mortgage Investments II INC
Fh Osborn L P
Trustees Deed
related
—
—
—
Phoenix Medical Properties LP
—
Deed Of Trust
related
$407,176,000 · Capital One NA
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
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
