New search
Property profile & analytics
OFF-MARKET
Estimated value
$7,735,000
Office buildings
600 40th St Phoenix, AZ 85008-6444
Individually Owned
6-yr Hold
Free & Clear
Property ID
US07-2519582
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
2019
Construction
CONCRETE
Total area
18,882 SF
Lot
4.97 ac (216,389 SF)
Zoning code
CP/GCP
APN
121-13-007M
UPID
US07-2519582
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
-
Heidi's Village Animal Shelter Pet Adoption Service
-
K9s For Warriors at Heidi's Village Charitable Organization Social Service Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$7.75M
Blend (final)
Blend
$7.74M
Owner & transaction history
Virgina B Jontes Foundation · 6 yrs held
Virgina B Jontes Foundation
since 2020
3 recorded transactions
Zoning & alternative use
CP/GCP · Phoenix, AZ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$10.1M
+77.4%
Auto repair, garage
$8.0M
+40.3%
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
OFFICE BUILDING
$5,685,000
Current use
RESTAURANT
$10,085,000
Change: +77% · Conversion: Moderate
AUTO REPAIR, GARAGE
$7,980,000
Change: +40% · Conversion: Difficult
MEDICAL BUILDING
$5,010,000
Change: -12% · Conversion: Easy
WAREHOUSE, STORAGE
$4,900,000
Change: -14% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$4,805,000
Change: -15% · Conversion: Difficult
Blend value · Realmo final
$7.74M
Range $6.96M – $8.51M · ±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
$410 / 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
Assessed value
$1,930,299
Assessed 2024
Previous assessed
$1,731,780
+11.5% YoY
Land market value
$2,468,700
Improvement market value
$10,399,957
Total market value
$12,868,657
Applied tax rate
311,300.0000
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
2019
Construction
CONCRETE
Heating
NONE
Buildings
11
Stories
2
Total area
18,882 SF
Lot
4.97 ac (216,389 SF)
Zoning code
CP/GCP
APN
121-13-007M
UPID
US07-2519582
Jurisdiction
MARICOPA
Zoning & alternative use
CP/GCP · Phoenix, AZ
Zoning CP/GCP · permitted uses
CP/GCP · 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
OFFICE BUILDING Current
Est. value
$5.7M
RESTAURANT
Est. value
$10.1M
AUTO REPAIR, GARAGE
Est. value
$8.0M
MEDICAL BUILDING
Est. value
$5.0M
WAREHOUSE, STORAGE
Est. value
$4.9M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$4.8M
OFFICE BUILDING Current
RESTAURANT
AUTO REPAIR, GARAGE
MEDICAL BUILDING
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
2019
Construction
CONCRETE
Heating
NONE
Stories
2
Buildings
11
Lot
4.97 ac
Current owner
From public records · entity-resolved
Virgina B Jontes Foundation
Individual
Free & Clear · 6 yrs held
Mailing address
78 BILTMORE EST, PHOENIX, AZ 85016-2827
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2020
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 27, 2020
—
Virginia B Jontes Foundation
—
Deed
related
$5,000,000 · Republicbankaz NA
Jan 23, 2020
—
Virgina B Jontes Foundation
Rs Tree 40 LLC
Re-recorded Document
related
—
Nov 2, 2017
$3,100,000
Virginia B Jontes Foundation
Rs Tree 40 LLC
Special Warranty Deed
—
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 600 40th St?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
