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Property profile & analytics
OFF-MARKET
Estimated value
$2,870,000
Office buildings
4502 Central Ave Phoenix, AZ 85012-1817
Entity Owned
1-yr Hold
Free & Clear
Property ID
US07-1137204
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1968
Construction
STEEL FRAME
Total area
9,708 SF
Lot
1.52 ac (66,291 SF)
Zoning code
P-2
APN
155-29-126B
UPID
US07-1137204
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
-
Phoenix Union High School District School District Office
-
USPS Collection Box Post Office
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.87M
Blend (final)
Blend
$2.87M
Owner & transaction history
Rh 4502 4504 4506 LLC · 1 yrs held
Rh 4502 4504 4506 LLC
since 2025
4 recorded transactions
Zoning & alternative use
P-2 · Phoenix, AZ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
It is the intent and purpose of this zone P-2 to provide a district whereby off-street parking structures in a planned harmonious site may be provided, either above or below the surface of the ground, for private, public, customer, or commercial use
Zone name
Parking
General category
COMMERCIAL
Zone area
50.93 ac
Source
Realmo
Top alternative use upside
Auto repair, garage
$4.1M
+162.1%
Retail stores
$2.9M
+84.9%
Medical building
$2.6M
+64.7%
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
AUTO REPAIR, GARAGE
$4,100,000
Change: +162% · Conversion: Difficult
RETAIL STORES
$2,895,000
Change: +85% · Conversion: Moderate
MEDICAL BUILDING
$2,575,000
Change: +65% · Conversion: Easy
WAREHOUSE, STORAGE
$2,520,000
Change: +61% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$2,470,000
Change: +58% · Conversion: Difficult
Blend value · Realmo final
$2.87M
Range $2.58M – $3.16M · ±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
$296 / 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
$2,610,123
Assessed 2024
Previous assessed
$1,980,165
+31.8% YoY
Land market value
$3,672,600
Improvement market value
$13,728,219
Total market value
$17,400,819
Applied tax rate
81,300.0000
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
1968
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
CENTRAL
Buildings
4
Stories
1
Units
4
Total area
9,708 SF
Lot
1.52 ac (66,291 SF)
Zoning code
P-2
APN
155-29-126B
UPID
US07-1137204
Jurisdiction
MARICOPA
Zoning & alternative use
P-2 · Phoenix, AZZoning P-2 · permitted uses
P-2 · Phoenix, AZ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
It is the intent and purpose of this zone P-2 to provide a district whereby off-street parking structures in a planned harmonious site may be provided, either above or below the surface of the ground, for private, public, customer, or commercial use
Zone name
Parking
General category
COMMERCIAL
Zone area
50.93 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
AUTO REPAIR, GARAGE
Est. value
$4.1M
RETAIL STORES
Est. value
$2.9M
MEDICAL BUILDING
Est. value
$2.6M
WAREHOUSE, STORAGE
Est. value
$2.5M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$2.5M
AUTO REPAIR, GARAGE
RETAIL STORES
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
1968
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
4
Units
4
Lot
1.52 ac
Current owner
From public records · entity-resolved
Rh 4502 4504 4506 LLC
Entity
Free & Clear · 1 yrs held
Mailing address
415 E GRANT ST, PHOENIX, AZ 85004-2632
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2025
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
Jan 13, 2025
—
Rh 4502 4504 4506 LLC
Roberto Hernandez
Warranty Deed
—
May 15, 2023
$650,000
Roberto Hernandez
Garac Rentals & Investments LLC
Warranty Deed
—
Jan 18, 2019
$490,000
Garac Rentals Of Invs LLC
Marshall,larry V
Warranty Deed
—
Sep 8, 2005
—
City Of Phoenix
Phoenix Union High Sch Distric
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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