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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    631 4Th Ave Phoenix, AZ 85003

    • Commercial real estate
    • 7,120 SF
    • 0.24 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US07-3371484
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Commercial real estate

    Property Details for 631 4Th Ave

    Year built
    1957
    Lot size
    0.24 lot acres
    Property size
    7,120 SF
    Property type
    Commercial real estate
    APN
    111-39-010

    Description

    This exceptional 16-unit apartment building presents a compelling investment opportunity in the heart of Phoenix's vibrant Roosevelt Row Arts District. The property, known as The Hepburn, boasts 7,120 square feet of net rentable space spread across two, two-story buildings on a 0.24-acre lot. Built in 1957, the property is zoned R-3 and features 10 parking spaces. Its prime location within the Innovation Corridor provides unparalleled access to major employers like Banner Health, UnitedHealth Group, and Wells Fargo, benefiting from the significant investments in the Phoenix Bioscience Core and Arizona State University's Downtown Phoenix campus. The Hepburn's central location offers residents easy walkability to the area's renowned arts and culture scene, including art galleries, live music venues, and eclectic boutiques. This multifamily asset represents a unique chance to capitalize on the continued growth and revitalization of Downtown Phoenix, offering strong potential for both rental income and future appreciation. The property's address is 631 N 4th Ave, Phoenix, AZ 85003, and its APN is 111-39-010. The asking price for this remarkable investment is $3,600,000.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Phoenix
    County
    Maricopa
    State
    Arizona
    Longitude
    -112.0786118
    Latitude
    33.4559395

    Comparable in this City

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    • $749,000

      Downtown Phoenix Duplex Opportunity

      Newer-construction duplex in Downtown Phoenix, ideal for investors.
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    • New
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      Phoenix Multifamily Property with ADU

      Three units, renovated/new construction, Roosevelt Arts District location.
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    • $3,300,000
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      Prime Location Redevelopment Opportunity

      Redevelopment opportunity in a rapidly growing urban district.
      122-126 E Washington St, Phoenix, AZ 85003
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    • New
      $174,999
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      Phoenix Land Across From Park

      Vacant land in downtown Phoenix, ideal for development.
      340 W Yavapai St, Phoenix, AZ 85003
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    • Contact for pricing

      Land in Roosevelt Row District

      Commercial land near Roosevelt Row Arts District, Phoenix, Arizona.
      833 N 2Nd Ave, Phoenix, AZ 85003
      View Details

    Similar Nearby for Sale

    • $1,155,000
      0.24 Acres

      Downtown Phoenix Multifamily Land

      Prime 0.24-acre lot, high-density zoning.
      833 2Nd Ave, Phoenix, AZ 85003
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    • $749,000

      Downtown Phoenix Duplex Opportunity

      Newer-construction duplex in Downtown Phoenix, ideal for investors.
      909 S 4Th Ave, Phoenix, AZ 85003
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    • New
      $723,800

      Phoenix Multifamily Property with ADU

      Three units, renovated/new construction, Roosevelt Arts District location.
      1015 S 1St Ave, Phoenix, AZ 85003
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    • Contact for pricing

      Land in Roosevelt Row District

      Commercial land near Roosevelt Row Arts District, Phoenix, Arizona.
      833 N 2Nd Ave, Phoenix, AZ 85003
      View Details
    • $3,300,000
      13,850 SF

      Prime Location Redevelopment Opportunity

      Redevelopment opportunity in a rapidly growing urban district.
      122-126 E Washington St, Phoenix, AZ 85003
      View Details
    • New
      $174,999
      0.14 Acres

      Phoenix Land Across From Park

      Vacant land in downtown Phoenix, ideal for development.
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      View Details

    Similar Nearby for Lease

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      Prime Phoenix Retail Space

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      Downtown Phoenix Office Space

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      Retail Space for Lease

      Retail spaces available in Phoenix: 702, 1,062 & 4,250 SF.
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      6,344 SF

      Renovated Office Space Available

      Newly renovated office space with modern amenities for rent.
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    • $33 SF/Yr
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      Office Space Near Light Rail

      Office space with ample parking and highway access.
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    631 4Th Ave
    Phoenix, AZ 85003
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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