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Property profile & analytics
OFF-MARKET
Estimated value
$1,800,000
Medical Office Space
515 Thomas Rd Phoenix, AZ 85012-3203
Entity Owned
26-yr Hold
~
Est. High Equity
Property ID
US07-0978046
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
2001
Construction
CONCRETE
Total area
4,837 SF
Lot
0.48 ac (21,075 SF)
Zoning code
C-1
APN
118-45-343
UPID
US07-0978046
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
-
Church Family Appliance Repair Home Appliance Store
-
Women's Care - Plimpton & Associates Medical Clinic
-
Jessica Worthington, MD Physician
-
Plimpton Obstetrics and Gynecology (Pellet Hormone Therapy for Women & Men) Physician Medical Clinic
-
Steven Plimpton, M.D. Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.82M
Blend (final)
Blend
$1.80M
Owner & transaction history
Plimpton Properties LLC · 26 yrs held
Plimpton Properties LLC
since 2000
2 recorded transactions
Zoning & alternative use
C-1 · Phoenix, AZ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The purpose C-1 zone is to provide light neighborhood type retail and customer service uses designed to be compatible with each other and nearby residential districts
Zone name
Neighborhood Retail Commercial
General category
COMMERCIAL
Zone area
1,755.38 ac
Source
Realmo
Top alternative use upside
Auto repair, garage
$2.0M
+59.2%
Retail stores
$1.4M
+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
$1,285,000
Current use
AUTO REPAIR, GARAGE
$2,045,000
Change: +59% · Conversion: Difficult
RETAIL STORES
$1,440,000
Change: +12% · Conversion: Difficult
WAREHOUSE, STORAGE
$1,255,000
Change: -2% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$1,230,000
Change: -4% · Conversion: Difficult
Blend value · Realmo final
$1.80M
Range $1.62M – $1.98M · ±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
$372 / 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
$19,739
Tax year 2023
Assessed value
$230,997
Assessed 2024
Previous assessed
$195,993
+17.9% YoY
Effective rate
8.55%
On assessed value
Land market value
$528,000
Improvement market value
$871,984
Total market value
$1,399,984
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
2001
Construction
CONCRETE
Heating
FORCED AIR
Cooling
CENTRAL
Stories
1
Total area
4,837 SF
Lot
0.48 ac (21,075 SF)
Zoning code
C-1
APN
118-45-343
UPID
US07-0978046
Jurisdiction
MARICOPA
Zoning & alternative use
C-1 · Phoenix, AZZoning C-1 · permitted uses
C-1 · Phoenix, AZ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The purpose C-1 zone is to provide light neighborhood type retail and customer service uses designed to be compatible with each other and nearby residential districts
Zone name
Neighborhood Retail Commercial
General category
COMMERCIAL
Zone area
1,755.38 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
MEDICAL BUILDING Current
Est. value
$1.3M
AUTO REPAIR, GARAGE
Est. value
$2.0M
RETAIL STORES
Est. value
$1.4M
WAREHOUSE, STORAGE
Est. value
$1.3M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.2M
MEDICAL BUILDING Current
AUTO REPAIR, GARAGE
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
2001
Construction
CONCRETE
Heating
FORCED AIR
Cooling
Yes
Stories
1
Lot
0.48 ac
Current owner
From public records · entity-resolved
Plimpton Properties LLC
Entity
Mailing address
4648 E CARON ST, PHOENIX, AZ 85028-5517
Ownership since
2000
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 18, 2017
—
Plimpton Properties LLC
—
Deed
related
$540,000 · Wells Fargo Bank NA
Apr 7, 2000
$220,000
Plimpton Properties LLC
Wilcox Trust
Grant Deed
$176,000 · Sunrise Bank Of Arizona
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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