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Property profile & analytics
OFF-MARKET
Estimated value
$1,110,000
Medical Office Space
52 Monterey Way, Phoenix, AZ 85012-2628
Individually Owned
3-yr Hold
Free & Clear
Property ID
US07-1218454
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1977
Construction
CONCRETE
Total area
2,955 SF
Lot
0.26 ac (11,349 SF)
Zoning code
M-H
APN
118-34-062A
UPID
US07-1218454
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
-
Spectrum Medical Group, P.C. Medical Group Doctor
-
Sirrine Thomas J Physician
-
JUDITH BERGMAN Physician
-
Spectrum Medical: Vanig Thanes MD Atm
-
ETHAN D NGUYEN Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.17M
Blend (final)
Blend
$1.11M
Owner & transaction history
Jasmine Natanian · 3 yrs held
Jasmine Natanian
since 2022
Last sale
$1.1M
5 recorded transactions
Zoning & alternative use
M-H · Phoenix, AZ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$1.3M
+59.2%
Retail stores
$880,000
+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
$1,140,000
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
$785,000
Current use
AUTO REPAIR, GARAGE
$1,250,000
Change: +59% · Conversion: Difficult
RETAIL STORES
$880,000
Change: +12% · Conversion: Difficult
WAREHOUSE, STORAGE
$765,000
Change: -2% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$750,000
Change: -4% · Conversion: Difficult
Blend value · Realmo final
$1.11M
Range $999k – $1.22M · ±10% · vs last sale $1.06M (Dec 28 2022)
Last sale anchor
$1.06M
Dec 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
$376 / 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
$9,057
Tax year 2023
Assessed value
$174,733
Assessed 2024
Previous assessed
$137,751
+26.8% YoY
Effective rate
5.18%
On assessed value
Land market value
$737,600
Improvement market value
$321,389
Total market value
$1,058,989
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
1977
Construction
CONCRETE
Heating
PACKAGE
Cooling
YES
Stories
1
Total area
2,955 SF
Lot
0.26 ac (11,349 SF)
Zoning code
M-H
APN
118-34-062A
UPID
US07-1218454
Jurisdiction
MARICOPA
Zoning & alternative use
M-H · Phoenix, AZ
Zoning M-H · permitted uses
M-H · 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
$785,000
AUTO REPAIR, GARAGE
Est. value
$1.3M
RETAIL STORES
Est. value
$880,000
WAREHOUSE, STORAGE
Est. value
$765,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$750,000
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
1977
Construction
CONCRETE
Heating
PACKAGE
Cooling
Yes
Stories
1
Lot
0.26 ac
Current owner
From public records · entity-resolved
Jasmine Natanian
Individual
Free & Clear · 3 yrs held
Mailing address
1218 SWARTHMORE DR, GLENDALE, CA 91206-1526
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
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 28, 2022
—
Jasmine Natanian
Jasmine Natanian
Intrafamily Transfer
related
—
Mar 16, 2022
$1,055,000
Leo Natanian
Sterling Trust Company
Special Warranty Deed
—
May 21, 2003
$375,000
Peter C Taylor
Johnson,howard H & Patty J
Grant Deed
—
Nov 7, 2000
—
Howard H Johnston
Johnston,howard H & Patty J
Quit Claim Deed
related
—
—
—
Johnston Trust
—
Deed Of Trust
related
$245,000 · First Capital Bank Az
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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