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Property profile & analytics
OFF-MARKET
Estimated value
$121,335,000
Office buildings
411 Central Ave Phoenix, AZ 85004-2115
Entity Owned
19-yr Hold
Free & Clear
Property ID
US07-1545446
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1974
Construction
CONCRETE
Total area
268,772 SF
Lot
4.66 ac (202,772 SF)
Zoning code
DTC-BCORE
APN
111-45-183
UPID
US07-1545446
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
-
Alliance for Innovation Association Or Organization
-
College of Integrative Sciences and Arts at ASU Academic Department
-
Maricopa County Building Inspctn County Government Office
-
Maricopa County Zoning Info County Government Office
-
ASU Police Police Department
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$121.34M
Blend (final)
Blend
$121.34M
Owner & transaction history
City Of Phoenix · 19 yrs held
City Of Phoenix
since 2006
1 recorded transaction
Zoning & alternative use
DTC-BCORE · Phoenix, AZ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$143.5M
+76.7%
Auto repair, garage
$113.6M
+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
$81,235,000
Current use
RESTAURANT
$143,530,000
Change: +77% · Conversion: Moderate
AUTO REPAIR, GARAGE
$113,570,000
Change: +40% · Conversion: Difficult
RETAIL STORES
$80,090,000
Change: -1% · Conversion: Moderate
Blend value · Realmo final
$121.34M
Range $109.20M – $133.47M · ±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
$451 / 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
$27,274,500
Assessed 2024
Previous assessed
$23,087,649
+18.1% YoY
Land market value
$20,277,200
Improvement market value
$145,022,802
Total market value
$165,300,002
Applied tax rate
11,301.0000
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
1974
Construction
CONCRETE
Heating
HOT WATER
Cooling
REFRIGERATOR
Buildings
4
Stories
9
Units
4
Total area
268,772 SF
Lot
4.66 ac (202,772 SF)
Zoning code
DTC-BCORE
APN
111-45-183
UPID
US07-1545446
Jurisdiction
MARICOPA
Zoning & alternative use
DTC-BCORE · Phoenix, AZ
Zoning DTC-BCORE · permitted uses
DTC-BCORE · 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
$81.2M
RESTAURANT
Est. value
$143.5M
AUTO REPAIR, GARAGE
Est. value
$113.6M
RETAIL STORES
Est. value
$80.1M
OFFICE BUILDING Current
RESTAURANT
AUTO REPAIR, GARAGE
RETAIL STORES
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
1974
Construction
CONCRETE
Heating
HOT WATER
Cooling
Yes
Stories
9
Buildings
4
Units
4
Lot
4.66 ac
Current owner
From public records · entity-resolved
City Of Phoenix
Entity
Free & Clear · 19 yrs held
Mailing address
251 W WASHINGTON ST FL, PHOENIX, AZ 85003-2295
Ownership since
2006
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 29, 2006
—
City Of Phoenix
Owner Name Unavailable
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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