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Property profile & analytics
OFF-MARKET
Estimated value
$7,675,000
Distribution centers
610 Watkins St Phoenix, AZ 85004-2934
Entity Owned
16-yr Hold
Free & Clear
Property ID
US07-0687065
Property profile
Verified
Property type
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Year built
1978
Construction
CONCRETE
Total area
38,120 SF
Lot
1.2 ac (52,279 SF)
Zoning code
A-2
APN
112-42-021C
UPID
US07-0687065
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
-
Azelis Industrial Manufacturer Production Facility
-
Ribelin Sales Inc Department Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$7.79M
Blend (final)
Blend
$7.68M
Owner & transaction history
Watkins 610 LLC · 16 yrs held
Watkins 610 LLC
since 2009
4 recorded transactions
Zoning & alternative use
A-2 · Phoenix, AZ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$11.5M
+16.5%
Retail stores
$11.4M
+14.8%
Medical building
$10.1M
+2.3%
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
WAREHOUSE, STORAGE
$9,895,000
Current use
OFFICE BUILDING
$11,520,000
Change: +16% · Conversion: Difficult
RETAIL STORES
$11,360,000
Change: +15% · Conversion: Moderate
MEDICAL BUILDING
$10,120,000
Change: +2% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$9,705,000
Change: -2% · Conversion: Moderate
Blend value · Realmo final
$7.68M
Range $6.91M – $8.44M · ±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
$201 / 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 2022Property tax & assessments
Tax year 2022
Tax billed
$32,606
Tax year 2022
Assessed value
$651,536
Assessed 2024
Previous assessed
$467,466
+39.4% YoY
Effective rate
5.00%
On assessed value
Land market value
$646,900
Improvement market value
$3,301,800
Total market value
$3,948,700
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
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Status
Off-Market
Year built
1978
Construction
CONCRETE
Heating
HEAT PUMP
Cooling
EVAPORATIVE
Stories
1
Total area
38,120 SF
Lot
1.2 ac (52,279 SF)
Zoning code
A-2
APN
112-42-021C
UPID
US07-0687065
Jurisdiction
MARICOPA
Zoning & alternative use
A-2 · Phoenix, AZ
Zoning A-2 · permitted uses
A-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
WAREHOUSE, STORAGE Current
Est. value
$9.9M
OFFICE BUILDING
Est. value
$11.5M
RETAIL STORES
Est. value
$11.4M
MEDICAL BUILDING
Est. value
$10.1M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$9.7M
WAREHOUSE, STORAGE Current
OFFICE BUILDING
RETAIL STORES
MEDICAL BUILDING
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
1978
Construction
CONCRETE
Heating
HEAT PUMP
Cooling
Yes
Stories
1
Lot
1.2 ac
Current owner
From public records · entity-resolved
Watkins 610 LLC
Entity
Free & Clear · 16 yrs held
Mailing address
505 E GLENN DR, PHOENIX, AZ 85020-4927
Ownership since
2009
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
Jul 24, 2009
$1,583,044
Watkins 610 LLC
Hayscale LLC
Warranty Deed
—
Dec 29, 1999
—
Hayscale LLC
Hurley,emory T
Grant Deed
related
—
Jan 13, 1995
—
Emory T Hurley
Hurley
Quit Claim Deed
related
—
Oct 27, 1994
—
Emory T Hurley
Hurley Estate
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.
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