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Property profile & analytics
OFF-MARKET
Estimated value
$121,075,000
Office buildings
350 Washington St, Tempe, AZ 85288-1495
Entity Owned
12-yr Hold
~
Est. High Equity
Property ID
US07-0536628
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
2008
Construction
STEEL FRAME
Total area
210,116 SF
Lot
5.01 ac (218,266 SF)
Zoning code
GID
APN
124-22-016
UPID
US07-0536628
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
-
Blink Charging Station Electric Vehicle Charging Station
-
First Solar, Inc Industrial Manufacturer Production Facility
-
RLI Insurance Agency
-
DeXL Training Center
-
KeyGlee Home Inspections Home Inspector
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$121.97M
Blend (final)
Blend
$121.08M
Owner & transaction history
Lmc Papago Investment Company LLC · 12 yrs held
Lmc Papago Investment Company LLC
since 2013
6 recorded transactions
Zoning & alternative use
GID · Tempe, AZ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$146.5M
+150.0%
Auto repair, garage
$144.4M
+146.5%
Retail stores
$110.6M
+88.8%
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 Tempe submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Tempe 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
RESTAURANT
$146,465,000
Change: +150% · Conversion: Moderate
AUTO REPAIR, GARAGE
$144,440,000
Change: +146% · Conversion: Difficult
RETAIL STORES
$110,645,000
Change: +89% · Conversion: Moderate
NEIGHBORHOOD: SHOPPING CENTER
$105,495,000
Change: +80% · Conversion: Difficult
Blend value · Realmo final
$121.08M
Range $108.97M – $133.18M · ±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
$576 / 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
Assessed value
$13,260,427
Assessed 2024
Previous assessed
$10,429,290
+27.1% YoY
Land market value
$3,075,200
Improvement market value
$85,327,650
Total market value
$88,402,850
Applied tax rate
31,600.0000
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
2008
Construction
STEEL FRAME
Heating
HOT WATER
Cooling
REFRIGERATOR
Buildings
4
Stories
6
Units
4
Total area
210,116 SF
Lot
5.01 ac (218,266 SF)
Zoning code
GID
APN
124-22-016
UPID
US07-0536628
Jurisdiction
MARICOPA
Zoning & alternative use
GID · Tempe, AZ
Zoning GID · permitted uses
GID · Tempe, AZ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Tempe. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RESTAURANT
Est. value
$146.5M
AUTO REPAIR, GARAGE
Est. value
$144.4M
RETAIL STORES
Est. value
$110.6M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$105.5M
RESTAURANT
AUTO REPAIR, GARAGE
RETAIL STORES
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
2008
Construction
STEEL FRAME
Heating
HOT WATER
Cooling
Yes
Stories
6
Buildings
4
Units
4
Lot
5.01 ac
Current owner
From public records · entity-resolved
Lmc Papago Investment Company LLC
Entity
Mailing address
1155 CAMINO DEL MAR #525, DEL MAR, CA 92014-2605
Ownership since
2013
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
May 21, 2024
—
Barclays Capital Real Estate INC
—
Deed
related
$34,000,000 · Bbcms Mortgage Trust 2024 5c25 Commercia
Feb 14, 2024
—
Lmc Papago Investment Company LLC
—
Deed
related
$34,000,000 · Barclays Capital Real Estate INC
Nov 26, 2013
—
Lmc Papago Investment Company LLC
Lmc Sorrento Investment Company LLC
Special Warranty Deed
$40,000,000 · Morgan Stanley Mortgage Capital Hol
Dec 23, 2010
—
Lmc-sorrento Investment Co LLC
—
Deed Of Trust
related
$42,360,886 · San Diego National Bank
Jun 4, 2007
—
Lmc-sorrento Investment Co LLC
Faec Holdings 388213 LLC
Grant Deed
$1,806 · San Diego National Bank
May 31, 2007
—
Faec Holdings 388213 LLC
—
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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