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Property profile & analytics
OFF-MARKET
Estimated value
$224,270,000
Office Spaces
3402 University Dr Phoenix, AZ 85034-7200
Entity Owned
~
Est. High Equity
Property ID
US07-1475673
Property profile
Verified
Property type
Office Spaces
Use group
OFFICE (GENERAL)
Year built
1998
Construction
CONCRETE
Total area
155,440 SF
Lot
6.35 ac (276,432 SF)
Zoning code
A-2
APN
122-03-089
UPID
US07-1475673
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
-
PhoenixNAP Data Center IT Consulting Firm
-
Phoenix Techforce Security Service
-
Environmental Science Environmental Consultant
-
Connect-IO (Bike/Boat/Book/etc) Store Corporate Office
-
1GServers Data Center IT Consulting Firm
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$234.81M
Blend (final)
Blend
$224.27M
Owner & transaction history
Radius Dc Phoenix I LLC
Radius Dc Phoenix I LLC
since 2026
7 recorded transactions
Zoning & alternative use
A-2 · 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
Blend value · Realmo final
$224.27M
Range $201.84M – $246.70M · ±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
$1,443 / 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
$572,717
Tax year 2023
Assessed value
$4,857,567
Assessed 2024
Previous assessed
$4,207,721
+15.4% YoY
Effective rate
11.79%
On assessed value
Land market value
$3,029,500
Improvement market value
$26,410,300
Total market value
$29,439,800
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
Office Spaces
Use group
OFFICE (GENERAL)
Status
Off-Market
Year built
1998
Construction
CONCRETE
Heating
HOT WATER
Cooling
REFRIGERATOR
Stories
2
Total area
155,440 SF
Lot
6.35 ac (276,432 SF)
Zoning code
A-2
APN
122-03-089
UPID
US07-1475673
Jurisdiction
MARICOPA
Zoning & alternative use
A-2 · Phoenix, AZ
Zoning A-2 · permitted uses
A-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.
Building & site characteristics
From public records
Year built
1998
Construction
CONCRETE
Heating
HOT WATER
Cooling
Yes
Stories
2
Lot
6.35 ac
Current owner
From public records · entity-resolved
Radius Dc Phoenix I LLC
Entity
Mailing address
2353 W UNIVERSITY DR, TEMPE, AZ 85281-7223
Ownership since
2026
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
Apr 16, 2026
—
Radius Dc Phoenix I LLC
Phoenix Nap LLC
Special Warranty Deed
related
$325,000,000 · Jpmorgan Chase Bank N A
Jul 8, 2014
—
Phoenix Nap LLC
—
Grant Deed
related
$32,000,000 · Bmo Harris Bk NA
Jun 1, 2009
$6,306,124
Phoenix Nap LLC
Rfc Phoenix LLC
Grant Deed
—
Mar 27, 2009
—
Rfc Phoenix LLC
Ep Phoenix Partners
Deed In Lieu Of Foreclosure
related
—
Jan 14, 2005
$14,966,000
Ep Phoenix Partners
Crown-phoenix II LLC
Grant Deed
$11,000,000 · Column Financial INC
Dec 31, 2002
$8,500,000
Crown Phoenix II LLC
Motion Systems LLC
Quit Claim Deed
related
—
Aug 4, 1999
—
Motion System Lc
—
Grant Deed
related
$2,000,000 · Citizens Federal Bank Fsb
Mar 9, 1999
—
Motion Systems LLC
Sb 910 LLC
Grant Deed
$8,000,000 · Citizens Federal Bank Fsb
Apr 21, 1997
$3,268,236
910 L L C Sb
Northland Company Of Ariz
Grant Deed
$2,290,000 · Bank Of America
Oct 26, 1994
—
Northland Land Co Of Arizona
Denro United Partners
Quit Claim 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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