Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$580,000
Industrial properties
601 1st Ave Phoenix, AZ 85003
Entity Owned
9-yr Hold
~
Est. High Equity
Property ID
US07-1092248
Property profile
Verified
Property type
Industrial properties
Use group
INDUSTRIAL LOFT BUILDING
Year built
1954
Construction
STEEL FRAME
Total area
6,100 SF
Lot
0.14 ac (6,245 SF)
Zoning code
DTC-WARE
APN
112-23-017
UPID
US07-1092248
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
-
My Solar Energy Solar Energy Company
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.41M
Blend (final)
Blend
$580k
Owner & transaction history
G E M Holdings Group LLC · 9 yrs held
G E M Holdings Group LLC
since 2017
4 recorded transactions
Zoning & alternative use
DTC-WARE · Phoenix, AZ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The Warehouse character area is a unique urban neighborhood that offers a blend of old railroad charm and modern urban living. The unique old warehouse buildings provide design inspiration for the design of new buildings that complement the existing character
Zone name
Downtown Code Warehouse
General category
INDUSTRIAL
Zone area
169.54 ac
Source
Realmo
Top alternative use upside
Office building
$1.8M
+36.4%
Retail stores
$1.8M
+35.5%
Medical building
$1.6M
+20.7%
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
INDUSTRIAL (GENERAL)
$1,340,000
Current use
OFFICE BUILDING
$1,830,000
Change: +36% · Conversion: Difficult
RETAIL STORES
$1,820,000
Change: +35% · Conversion: Moderate
MEDICAL BUILDING
$1,620,000
Change: +21% · Conversion: Difficult
WAREHOUSE, STORAGE
$1,585,000
Change: +18% · Conversion: Easy
Blend value · Realmo final
$580k
Range $522k – $638k · ±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
$95 / 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
$9,070
Tax year 2023
Assessed value
$120,252
Assessed 2024
Previous assessed
$90,525
+32.8% YoY
Effective rate
7.54%
On assessed value
Land market value
$148,000
Improvement market value
$580,800
Total market value
$728,800
Applied tax rate
11,300.0000
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
Industrial properties
Use group
INDUSTRIAL LOFT BUILDING
Status
Off-Market
Year built
1954
Construction
STEEL FRAME
Heating
NONE
Cooling
EVAPORATIVE
Stories
1
Units
83
Total area
6,100 SF
Lot
0.14 ac (6,245 SF)
Zoning code
DTC-WARE
APN
112-23-017
UPID
US07-1092248
Jurisdiction
MARICOPA
Zoning & alternative use
DTC-WARE · Phoenix, AZZoning DTC-WARE · permitted uses
DTC-WARE · Phoenix, AZ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The Warehouse character area is a unique urban neighborhood that offers a blend of old railroad charm and modern urban living. The unique old warehouse buildings provide design inspiration for the design of new buildings that complement the existing character
Zone name
Downtown Code Warehouse
General category
INDUSTRIAL
Zone area
169.54 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
INDUSTRIAL (GENERAL) Current
Est. value
$1.3M
OFFICE BUILDING
Est. value
$1.8M
RETAIL STORES
Est. value
$1.8M
MEDICAL BUILDING
Est. value
$1.6M
WAREHOUSE, STORAGE
Est. value
$1.6M
INDUSTRIAL (GENERAL) Current
OFFICE BUILDING
RETAIL STORES
MEDICAL BUILDING
WAREHOUSE, STORAGE
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
1954
Construction
STEEL FRAME
Heating
NONE
Cooling
Yes
Stories
1
Units
83
Lot
0.14 ac
Current owner
From public records · entity-resolved
G E M Holdings Group LLC
Entity
Mailing address
8531 W ROMA AVE, PHOENIX, AZ 85037-1848
Ownership since
2017
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 21, 2017
—
G E M Holdings Group LLC
Di Mor Business Forms INC
Warranty Deed
$1,645,000
Aug 18, 2016
—
Di-mor Business Forms INC
Morales,diana P
Quit Claim Deed
related
—
Feb 7, 1995
$45,000
Diana P Morales
Kessler
Grant Deed
$40,000 · Seller
Oct 21, 1994
—
Elliot B Kessler
Kessler Investments
Quit Claim Deed
related
—
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 601 1st Ave?
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.
