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Property profile & analytics
OFF-MARKET
Estimated value
$540,000
Retail space
603 15th Ave Phoenix, AZ 85007-2202
Trust Owned
11-yr Hold
~
Est. High Equity
Property ID
US07-2674593
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1926
Construction
CONCRETE
Total area
1,930 SF
Lot
0.1 ac (4,272 SF)
Zoning code
C-2
APN
111-27-147
UPID
US07-2674593
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
-
Buster's Market Grocery & Convenience Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$546k
Blend (final)
Blend
$540k
Owner & transaction history
Bennett Living Trust · 11 yrs held
Bennett Living Trust
since 2015
7 recorded transactions
Zoning & alternative use
C-2 · Phoenix, AZ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$815,000
+41.8%
Office building
$735,000
+28.1%
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
RETAIL STORES
$575,000
Current use
AUTO REPAIR, GARAGE
$815,000
Change: +42% · Conversion: Difficult
OFFICE BUILDING
$735,000
Change: +28% · Conversion: Easy
COMMERCIAL (GENERAL)
$545,000
Change: -5% · Conversion: Easy
MEDICAL BUILDING
$510,000
Change: -11% · Conversion: Difficult
WAREHOUSE, STORAGE
$500,000
Change: -13% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$490,000
Change: -15% · Conversion: Moderate
Blend value · Realmo final
$540k
Range $486k – $594k · ±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
$280 / 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
$2,372
Tax year 2023
Assessed value
$57,272
Assessed 2024
Previous assessed
$57,272
+0.0% YoY
Effective rate
4.14%
On assessed value
Land market value
$190,600
Improvement market value
$156,505
Total market value
$347,105
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1926
Construction
CONCRETE
Heating
FORCED AIR
Cooling
CENTRAL
Buildings
2
Stories
1
Units
2
Total area
1,930 SF
Lot
0.1 ac (4,272 SF)
Zoning code
C-2
APN
111-27-147
UPID
US07-2674593
Jurisdiction
MARICOPA
Zoning & alternative use
C-2 · Phoenix, AZ
Zoning C-2 · permitted uses
C-2 · 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
RETAIL STORES Current
Est. value
$575,000
AUTO REPAIR, GARAGE
Est. value
$815,000
OFFICE BUILDING
Est. value
$735,000
COMMERCIAL (GENERAL)
Est. value
$545,000
MEDICAL BUILDING
Est. value
$510,000
WAREHOUSE, STORAGE
Est. value
$500,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$490,000
RETAIL STORES Current
AUTO REPAIR, GARAGE
OFFICE BUILDING
COMMERCIAL (GENERAL)
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
1926
Construction
CONCRETE
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
2
Units
2
Lot
0.1 ac
Current owner
From public records · entity-resolved
Bennett Living Trust
Trust
Mailing address
950 W VAN BUREN ST, PHOENIX, AZ 85007-2552
Ownership since
2015
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 25, 2015
—
Bennett Living Trust
Bennett Charles A
Quit Claim Deed
related
—
Aug 3, 1998
—
Charles A Bennett
Charles F Bennett Estates
Quit Claim Deed
related
—
Nov 6, 1997
$54,375
Fnc Enterprise Corp
Sam S & Christina S Wong
Trustees Deed
—
Nov 6, 1997
—
Wong,sam S & Christine S
Elsha & Wardia Elesha
Trustees Deed
related
—
Jun 6, 1997
—
Vada Bennett
Charles F Bennett
Quit Claim Deed
related
—
Jan 29, 1993
$45,000
Sam S Wong
Som
Grant Deed
—
—
—
Sam S Wong
—
Deed Of Trust
related
—
—
—
Fnc Enterprise Corp
—
Deed Of Trust
related
$197,350 · Bank One NA
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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