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Property profile & analytics
OFF-MARKET
Estimated value
$34,215,000
Office buildings
426 44th St Phoenix, AZ 85008-6508
Entity Owned
6-yr Hold
Free & Clear
Property ID
US07-0086221
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1984
Construction
STEEL FRAME
Total area
111,595 SF
Lot
4.22 ac (184,015 SF)
Zoning code
C-2
APN
125-26-013
UPID
US07-0086221
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
-
Proven IT Big Box & Wholesale Store
-
Arcadis Arizona Professional Services
-
Faith Hospice of Arizona Home Health Care Service Health Consultant
-
LJA Engineering, Inc. General Contractor
-
Southwest Wealth Advisory Group LLC Financial Advisor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$34.68M
Blend (final)
Blend
$34.22M
Owner & transaction history
Bof Az Phoenix Gateway Center LLC · 6 yrs held
Bof Az Phoenix Gateway Center LLC
since 2019
7 recorded transactions
Zoning & alternative use
C-2 · Phoenix, AZ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$47.2M
+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
$33,600,000
Current use
AUTO REPAIR, GARAGE
$47,155,000
Change: +40% · Conversion: Difficult
MEDICAL BUILDING
$29,620,000
Change: -12% · Conversion: Easy
WAREHOUSE, STORAGE
$28,965,000
Change: -14% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$28,405,000
Change: -15% · Conversion: Difficult
Blend value · Realmo final
$34.22M
Range $30.79M – $37.64M · ±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
$307 / 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
$311,954
Tax year 2023
Assessed value
$3,173,073
Assessed 2024
Previous assessed
$3,931,777
-19.3% YoY
Effective rate
9.83%
On assessed value
Land market value
$2,155,900
Improvement market value
$17,074,843
Total market value
$19,230,743
Applied tax rate
311,300.0000
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
1984
Construction
STEEL FRAME
Heating
CENTRAL
Cooling
CENTRAL
Buildings
3
Stories
4
Units
3
Total area
111,595 SF
Lot
4.22 ac (184,015 SF)
Zoning code
C-2
APN
125-26-013
UPID
US07-0086221
Jurisdiction
MARICOPA
Zoning & alternative use
C-2 · Phoenix, AZ
Zoning C-2 · permitted uses
C-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.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$33.6M
AUTO REPAIR, GARAGE
Est. value
$47.2M
MEDICAL BUILDING
Est. value
$29.6M
WAREHOUSE, STORAGE
Est. value
$29.0M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$28.4M
OFFICE BUILDING Current
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
1984
Construction
STEEL FRAME
Heating
CENTRAL
Cooling
Yes
Stories
4
Buildings
3
Units
3
Lot
4.22 ac
Current owner
From public records · entity-resolved
Bof Az Phoenix Gateway Center LLC
Entity
Free & Clear · 6 yrs held
Mailing address
111 E SEGO LILY DR STE #400, SANDY, UT 84070-4422
Ownership since
2019
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
Oct 11, 2019
$86,750,000
Bof Az Phoenix Gateway Center LLC
Are Lei Phoenix Gateway Associates
Special Warranty Deed
—
Jun 15, 2018
—
Are-lei Phoenix Gateway Assocs
—
Loan Modification
related
$50,454,618 · Citizens Bk NA
Jun 17, 2015
$75,700,000
Are Lei Phoenix Gateway Associates
Phoenix Office Grand Avenue Partner
Special Warranty Deed
$44,258,437 · Citizens Bank NA
Dec 22, 2011
$43,000,000
Phoenix Office Grand Avenue Pt
Aslan III Phoenix Gateway LLC
Grant Deed
—
Dec 31, 2009
—
Phoenix Gateway L Transwestern
—
Deed Of Trust
related
$88,000,000 · Anglo Irish Bank Corp
Jul 20, 2007
$96,000,000
Phoenix Gateway L Transwestern
Cmd Realty Inv Fund IV
Grant Deed
—
Sep 15, 1999
$10,000,000
Cmd Realty Investment Fund
Gateway Phoenix Associates LP
Grant Deed
related
—
Jun 15, 1994
$7,176,226
Gateway Phoenix Assoc
Aetna Life Ins C
Grant Deed
—
Jan 8, 1992
$6,877,799
Aetna Life Insur
Soc Gateway Dev
Grant Deed
—
May 24, 1990
$6,000,000
Phoenix Gateway
Soc Gateway Dev
Grant Deed
—
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
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