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Property profile & analytics
OFF-MARKET
Estimated value
$595,000
Warehouses
515 1st St Tempe, AZ 85281-2705
Entity Owned
3-yr Hold
Free & Clear
Property ID
US07-1257292
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1972
Construction
CONCRETE
Total area
3,800 SF
Lot
0.47 ac (20,473 SF)
Zoning code
GID
APN
124-32-042B
UPID
US07-1257292
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
$645k
Comparable Approach
Comparable
$565k
Blend (final)
Blend
$595k
Owner & transaction history
Pacificap Holdings II LLC · 3 yrs held
Pacificap Holdings II LLC
since 2022
Last sale
$600,000
7 recorded transactions
Zoning & alternative use
GID · Tempe, AZ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$780,000
+6.5%
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 Tempe submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Tempe 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
$595,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$700,000
6.5%
$645,000
7%
$600,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$730,000
Current use
MEDICAL BUILDING
$780,000
Change: +7% · Conversion: Difficult
Blend value · Realmo final
$595k
Range $536k – $655k · ±10% · vs last sale $600k (Oct 28 2022)
Last sale anchor
$600k
Oct 28 2022
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
$157 / 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
$6,440
Tax year 2023
Assessed value
$60,579
Assessed 2024
Previous assessed
$52,785
+14.8% YoY
Effective rate
10.63%
On assessed value
Land market value
$150,500
Improvement market value
$216,647
Total market value
$367,147
Applied tax rate
31,600.0000
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
1972
Construction
CONCRETE
Heating
SPACE
Cooling
EVAPORATIVE
Buildings
2
Stories
1
Units
2
Total area
3,800 SF
Lot
0.47 ac (20,473 SF)
Zoning code
GID
APN
124-32-042B
UPID
US07-1257292
Jurisdiction
MARICOPA
Zoning & alternative use
GID · Tempe, AZ
Zoning GID · permitted uses
GID · Tempe, AZ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Tempe. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$730,000
MEDICAL BUILDING
Est. value
$780,000
WAREHOUSE, STORAGE Current
MEDICAL BUILDING
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
1972
Construction
CONCRETE
Heating
SPACE
Cooling
Yes
Stories
1
Buildings
2
Units
2
Lot
0.47 ac
Current owner
From public records · entity-resolved
Pacificap Holdings II LLC
Entity
Free & Clear · 3 yrs held
Mailing address
515 W 1ST ST, TEMPE, AZ 85281-2705
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 28, 2022
$600,000
Pacificap Holdings II LLC
First Street Properties Fund LLC
Special Warranty Deed
—
Feb 23, 2017
$650,000
First Street Props Fund LLC
First Street Props LLC
Grant Deed
$420,000 · First Street Properties LLC
Jun 29, 2015
—
First Street Properties LLC
Kraft Carl M
Quit Claim Deed
related
—
May 11, 2006
$490,000
Carl M Kraft
Young,adam L
Warranty Deed
—
May 3, 2005
—
Adam L Young
Young,larry
Quit Claim Deed
related
—
Oct 31, 1991
$400,000
Larry Young
Bellini
Grant Deed
—
—
—
Manuel H Cobos
—
Deed Of Trust
related
$20,800 · Household Finance Corp II
—
—
Manuel H Cobos
—
Deed Of Trust
related
$49,999 · Household Realty Corp
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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