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Property profile & analytics
OFF-MARKET
Estimated value
$27,750,000
Warehouses
550 Southern Ave Tempe, AZ 85282-4506
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US07-3290382
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1979
Construction
CONCRETE
Total area
128,768 SF
Lot
9.78 ac (426,187 SF)
Zoning code
GID
APN
123-39-506
UPID
US07-3290382
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
-
Mygrant Glass Auto Repair Shop (Bike/Boat/Book/etc) Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$27.75M
Blend (final)
Blend
$27.75M
Owner & transaction history
Mrp Az St LLC · 4 yrs held
Mrp Az St LLC
since 2022
7 recorded transactions
Zoning & alternative use
GID · Tempe, AZ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$39.0M
+67.8%
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
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
WAREHOUSE, STORAGE
$23,245,000
Current use
OFFICE BUILDING
$38,995,000
Change: +68% · Conversion: Difficult
Blend value · Realmo final
$27.75M
Range $24.98M – $30.53M · ±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
$216 / 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
$213,369
Tax year 2023
Assessed value
$3,290,133
Assessed 2024
Previous assessed
$2,628,523
+25.2% YoY
Effective rate
6.49%
On assessed value
Land market value
$2,735,900
Improvement market value
$17,204,300
Total market value
$19,940,200
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
1979
Construction
CONCRETE
Heating
PACKAGE
Cooling
YES
Stories
1
Total area
128,768 SF
Lot
9.78 ac (426,187 SF)
Zoning code
GID
APN
123-39-506
UPID
US07-3290382
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
$23.2M
OFFICE BUILDING
Est. value
$39.0M
WAREHOUSE, STORAGE Current
OFFICE 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
1979
Construction
CONCRETE
Heating
PACKAGE
Cooling
Yes
Stories
1
Lot
9.78 ac
Current owner
From public records · entity-resolved
Mrp Az St LLC
Entity
Mailing address
3271 ARDEN RD, HAYWARD, CA 94545-3901
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
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 27, 2022
—
Mrp Az St LLC
Michael R Mygrant
Special Warranty Deed
—
Aug 26, 2019
$13,147,876
Michael R Mygrant
550 West Southern LLC
Special Warranty Deed
$9,757,500 · Wells Fargo Bank NA
Aug 24, 2018
$7,500,000
550 West Southern LLC
Southern Paramount LLC
Trustees Deed
related
$8,500,000 · Nexus Holdings INC
Aug 9, 2005
$5,800,000
Southern Paramount LLC
Southern Avenue LLC
Special Warranty Deed
$5,400,000 · Wells Fargo Bank NA
—
—
Southern Paramount LLC
—
Loan Modification
related
—
—
—
Southern Paramount LLC
—
Loan Modification
related
—
—
—
Southern Paramount LLC
—
Deed Of Trust
related
$500,000 · Loon Eagle Diversified LLC
—
—
Southern Paramount LLC
—
Loan Modification
related
—
—
—
Southern Paramount LLC
—
Deed Of Trust
related
$816,826 · Sp Holdings INC
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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