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Property profile & analytics
OFF-MARKET
Commercial real estate
516 Edgemont Ave Phoenix, AZ 85003
Entity Owned
21-yr Hold
~
Est. High Equity
Property ID
US07-3386848
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Year built
1975
Construction
STEEL FRAME
Lot
0.19 ac (8,125 SF)
Zoning code
P-1
APN
118-42-092
UPID
US07-3386848
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
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Iea Investment Corp · 21 yrs held
Iea Investment Corp
since 2005
1 recorded transaction
Zoning & alternative use
P-1 · Phoenix, AZ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
It is intended that the P-1 District will provide necessary off-street parking in appropriate locations for nonresidential uses located near residential districts
Zone name
Passenger Automobile Parking
General category
RESIDENTIAL
Zone area
318.48 ac
Source
Realmo
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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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
$2,168
Tax year 2022
Assessed value
$40,640
Assessed 2024
Previous assessed
$30,056
+35.2% YoY
Effective rate
5.33%
On assessed value
Land market value
$217,800
Improvement market value
$28,500
Total market value
$246,300
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
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Status
Off-Market
Year built
1975
Construction
STEEL FRAME
Heating
NONE
Stories
1
Lot
0.19 ac (8,125 SF)
Zoning code
P-1
APN
118-42-092
UPID
US07-3386848
Jurisdiction
MARICOPA
Zoning & alternative use
P-1 · Phoenix, AZZoning P-1 · permitted uses
P-1 · Phoenix, AZ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
It is intended that the P-1 District will provide necessary off-street parking in appropriate locations for nonresidential uses located near residential districts
Zone name
Passenger Automobile Parking
General category
RESIDENTIAL
Zone area
318.48 ac
Source
Realmo
Building & site characteristics
From public records
Year built
1975
Construction
STEEL FRAME
Heating
NONE
Stories
1
Lot
0.19 ac
Current owner
From public records · entity-resolved
Iea Investment Corp
Entity
Mailing address
3202 W ROOSEVELT ST, PHOENIX, AZ 85009-3406
Ownership since
2005
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 8, 2005
$660,000
Iea Investment Corp
Heileman,michael M
Warranty Deed
$400,000 · Michael M Heileman
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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