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Property profile & analytics
OFF-MARKET
Estimated value
$3,935,000
Office buildings
402 24th St Phoenix, AZ 85008-6014
Entity Owned
9-yr Hold
~
Est. High Equity
Property ID
US07-2020731
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1991
Construction
CONCRETE
Total area
9,600 SF
Lot
2.35 ac (102,427 SF)
Zoning code
C-3
APN
116-02-029A
UPID
US07-2020731
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
-
PHX Valet Parking by FreedomPark Parking Lot & Garage
-
Emotional Support Animal - Phoenix Alternative Medicine Practice
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$3.94M
Blend (final)
Blend
$3.94M
Owner & transaction history
Crisis Nursery INC · 9 yrs held
Crisis Nursery INC
since 2017
4 recorded transactions
Zoning & alternative use
C-3 · Phoenix, AZ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$5.1M
+77.4%
Auto repair, garage
$4.1M
+40.3%
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
$2,890,000
Current use
RESTAURANT
$5,125,000
Change: +77% · Conversion: Moderate
AUTO REPAIR, GARAGE
$4,055,000
Change: +40% · Conversion: Difficult
MEDICAL BUILDING
$2,550,000
Change: -12% · Conversion: Easy
WAREHOUSE, STORAGE
$2,490,000
Change: -14% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$2,445,000
Change: -15% · Conversion: Difficult
Blend value · Realmo final
$3.94M
Range $3.54M – $4.33M · ±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
$410 / 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
$657,788
Assessed 2024
Previous assessed
$516,285
+27.4% YoY
Land market value
$1,394,500
Improvement market value
$2,990,756
Total market value
$4,385,256
Applied tax rate
71,300.0000
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
1991
Construction
CONCRETE
Heating
PACKAGE
Cooling
YES
Buildings
2
Stories
1
Units
2
Total area
9,600 SF
Lot
2.35 ac (102,427 SF)
Zoning code
C-3
APN
116-02-029A
UPID
US07-2020731
Jurisdiction
MARICOPA
Zoning & alternative use
C-3 · Phoenix, AZ
Zoning C-3 · permitted uses
C-3 · 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
$2.9M
RESTAURANT
Est. value
$5.1M
AUTO REPAIR, GARAGE
Est. value
$4.1M
MEDICAL BUILDING
Est. value
$2.6M
WAREHOUSE, STORAGE
Est. value
$2.5M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$2.4M
OFFICE BUILDING Current
RESTAURANT
AUTO REPAIR, GARAGE
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
1991
Construction
CONCRETE
Heating
PACKAGE
Cooling
Yes
Stories
1
Buildings
2
Units
2
Lot
2.35 ac
Current owner
From public records · entity-resolved
Crisis Nursery INC
Entity
Mailing address
2711 E ROOSEVELT ST, PHOENIX, AZ 85008-4946
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2017
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 3, 2017
—
Crisis Nursery INC
—
Deed
related
$79,000 · Miscellaneous Govt Agcy
May 2, 2016
—
Child Crisis Arizona
—
Deed
related
$84,000 · Miscellaneous Govt Agcy
—
—
Child Crisis Arizona
—
Deed Of Trust
related
$84,000 · Miscellaneous Govt Agcy
—
—
Crisis Nursery INC
—
Deed Of Trust
related
$79,000 · Miscellaneous Govt Agcy
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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