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Property profile & analytics
OFF-MARKET
Estimated value
$955,000
Medical Office Space
4700 51st Ave, Phoenix, AZ 85031-1237
Entity Owned
8-yr Hold
~
Est. High Equity
Property ID
US07-0107053
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1967
Construction
CONCRETE
Total area
4,258 SF
Lot
0.45 ac (19,584 SF)
Zoning code
R-5
APN
144-44-013
UPID
US07-0107053
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
-
Arizona Womens Specialists Physician
-
Ronald Morgan, DMD Dental Office
-
Megan Miller Physician
-
Nahla Chirco, DNP, FNP Physician
-
MVP Kids Care Pediatrician Medical Clinic
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$971k
Blend (final)
Blend
$955k
Owner & transaction history
Challenger Nc LLC · 8 yrs held
Challenger Nc LLC
since 2017
7 recorded transactions
Zoning & alternative use
R-5 · Phoenix, AZ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$1.3M
+13.1%
Retail stores
$1.3M
+12.3%
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
MEDICAL BUILDING
$1,130,000
Current use
OFFICE BUILDING
$1,280,000
Change: +13% · Conversion: Easy
RETAIL STORES
$1,270,000
Change: +12% · Conversion: Difficult
WAREHOUSE, STORAGE
$1,105,000
Change: -2% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$1,085,000
Change: -4% · Conversion: Difficult
Blend value · Realmo final
$955k
Range $860k – $1.05M · ±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
$224 / 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
$9,973
Tax year 2023
Assessed value
$122,951
Assessed 2024
Previous assessed
$107,134
+14.8% YoY
Effective rate
8.11%
On assessed value
Land market value
$194,400
Improvement market value
$550,760
Total market value
$745,160
Applied tax rate
831,300.0000
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
1967
Construction
CONCRETE
Heating
FLOOR FURNACE
Cooling
YES
Stories
1
Total area
4,258 SF
Lot
0.45 ac (19,584 SF)
Zoning code
R-5
APN
144-44-013
UPID
US07-0107053
Jurisdiction
MARICOPA
Zoning & alternative use
R-5 · Phoenix, AZ
Zoning R-5 · permitted uses
R-5 · 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
MEDICAL BUILDING Current
Est. value
$1.1M
OFFICE BUILDING
Est. value
$1.3M
RETAIL STORES
Est. value
$1.3M
WAREHOUSE, STORAGE
Est. value
$1.1M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.1M
MEDICAL BUILDING Current
OFFICE BUILDING
RETAIL STORES
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
1967
Construction
CONCRETE
Heating
FLOOR FURNACE
Cooling
Yes
Stories
1
Lot
0.45 ac
Current owner
From public records · entity-resolved
Challenger Nc LLC
Entity
Mailing address
36130 N 54TH ST, CAVE CREEK, AZ 85331
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
12 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 21, 2017
$390,000
Challenger Nc LLC
Manage Systems LLC
Special Warranty Deed
$451,200 · Jpmorgan Chase Bank NA
Mar 28, 2013
$378,000
Manage System LLC
Harout Broutian
Warranty Deed
$340,200 · Wells Fargo Bank NA
Sep 30, 2008
$625,000
Harout Broutian
Larry Wilson Station JR
Warranty Deed
$468,750 · Wachovia Bank NA
Apr 27, 2007
$680,000
Larry W Station JR.
Wolter Realty & Invs INC
Grant Deed
$510,000 · Greenpoint Mortgage Funding
Jan 13, 2005
$300,000
Wolter Realty
Evans,ronald
Warranty Deed
$300,000 · Ray Leman
Jan 31, 2002
$180,000
Ronald C Evans
Gannon Trust
Grant Deed
$160,000 · Gannon Trust
Jul 31, 1995
—
Beverly J Gannon
Beverly Gannon
Quit Claim Deed
related
—
Mar 30, 1989
—
William B Robey
Unknown
Grant Deed
related
—
Sep 12, 1988
$13,022
William B Robey
—
Deed Of Trust
related
—
—
—
Wolter Realty & Invs INC
—
Deed Of Trust
related
$480,000 · Mark A Speno
—
—
Wolter Realty & Invs INC
—
Deed Of Trust
related
$25,000 · Baron Financial LLC
—
—
Ronald C Evans
—
Deed Of Trust
related
$169,000 · Interbay Funding LLC
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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