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Property profile & analytics
OFF-MARKET
Estimated value
$1,395,000
Medical Office Space
4702 51st Ave, Phoenix, AZ 85031
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US07-0709424
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1967
Construction
CONCRETE
Total area
6,550 SF
Lot
0.56 ac (24,192 SF)
Zoning code
R-5
APN
144-44-014
UPID
US07-0709424
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.44M
Comparable Approach
Comparable
$1.04M
Blend (final)
Blend
$1.40M
Owner & transaction history
Zack Properties LLC · 2 yrs held
Zack Properties LLC
since 2023
Last sale
$1.5M
7 recorded transactions
Zoning & alternative use
R-5 · Phoenix, AZ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$2.0M
+13.1%
Retail stores
$2.0M
+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
$1,875,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$1,555,000
6.5%
$1,435,000
7%
$1,335,000
Alternative Use
Use
Estimation
MEDICAL BUILDING
$1,740,000
Current use
OFFICE BUILDING
$1,965,000
Change: +13% · Conversion: Easy
RETAIL STORES
$1,950,000
Change: +12% · Conversion: Difficult
WAREHOUSE, STORAGE
$1,700,000
Change: -2% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$1,665,000
Change: -4% · Conversion: Difficult
Blend value · Realmo final
$1.40M
Range $1.26M – $1.53M · ±10% · vs last sale $1.50M (Oct 13 2023)
Last sale anchor
$1.50M
Oct 13 2023
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
$213 / 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 2022Property tax & assessments
Tax year 2022
Tax billed
$13,306
Tax year 2022
Assessed value
$131,748
Assessed 2024
Previous assessed
$116,824
+12.8% YoY
Effective rate
10.10%
On assessed value
Land market value
$281,400
Improvement market value
$517,075
Total market value
$798,475
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
PACKAGE
Cooling
YES
Stories
1
Total area
6,550 SF
Lot
0.56 ac (24,192 SF)
Zoning code
R-5
APN
144-44-014
UPID
US07-0709424
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
$1.7M
OFFICE BUILDING
Est. value
$2.0M
RETAIL STORES
Est. value
$2.0M
WAREHOUSE, STORAGE
Est. value
$1.7M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.7M
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
PACKAGE
Cooling
Yes
Stories
1
Lot
0.56 ac
Current owner
From public records · entity-resolved
Zack Properties LLC
Entity
Mailing address
1831 E CATAMARAN DR, GILBERT, AZ 85234-2717
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 13, 2023
$1,500,000
Zack Properties LLC
Direct Medical Billing Services LLC
Special Warranty Deed
$1,000,000 · Standard Insurance Co
Dec 30, 2011
—
Direct Medical Billing Svcs Ll
Hetal C Shah Md PC
Grant Deed
$364,000 · Us Bank NA
Oct 12, 2011
$180,000
Hetal C Shah Md PC
Sterling Svgs Bk
Grant Deed
—
Feb 16, 2011
$250,000
Sterling Svgs Bk
Baron,carol M
Trustees Deed
related
—
Nov 3, 2004
$490,000
Tim J Shugrue
Suite 5 Maryvale Parkway Medi
Grant Deed
$322,000 · Sonoma National Bank
Mar 5, 2002
—
Maryvale Parkway Med Ctr LLC
Louis Goodman Family LP
Quit Claim Deed
related
—
Nov 30, 1999
$576,700
Louis Goodman LP
Goodman,louis & Rose
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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