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Property profile & analytics
OFF-MARKET
Estimated value
$17,255,000
Distribution centers
641 Watkins St Phoenix, AZ 85004-2935
Entity Owned
1-yr Hold
Absentee Owner
Free & Clear
Property ID
US07-0424319
Property profile
Verified
Property type
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Year built
1978
Construction
CONCRETE
Total area
66,560 SF
Lot
3.79 ac (164,979 SF)
Zoning code
A-2
APN
112-42-050
UPID
US07-0424319
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
-
United Freight Service Trucking Company
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$17.50M
Blend (final)
Blend
$17.26M
Owner & transaction history
Phoenix Resource Center LLC · 1 yrs held
Phoenix Resource Center LLC
since 2024
1 recorded transaction
Zoning & alternative use
A-2 · Phoenix, AZ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$28.1M
+62.8%
Office building
$20.1M
+16.5%
Retail stores
$19.8M
+14.8%
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
$17,275,000
Current use
AUTO REPAIR, GARAGE
$28,125,000
Change: +63% · Conversion: Easy
OFFICE BUILDING
$20,120,000
Change: +16% · Conversion: Difficult
RETAIL STORES
$19,835,000
Change: +15% · Conversion: Moderate
MEDICAL BUILDING
$17,670,000
Change: +2% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$16,940,000
Change: -2% · Conversion: Moderate
Blend value · Realmo final
$17.26M
Range $15.53M – $18.98M · ±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
$259 / 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
$65,417
Tax year 2023
Assessed value
$1,464,656
Assessed 2024
Previous assessed
$1,184,951
+23.6% YoY
Effective rate
4.47%
On assessed value
Land market value
$2,093,700
Improvement market value
$6,783,000
Total market value
$8,876,700
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
Buildings
2
Stories
1
Units
2
Total area
66,560 SF
Lot
3.79 ac (164,979 SF)
Zoning code
A-2
APN
112-42-050
UPID
US07-0424319
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
$17.3M
AUTO REPAIR, GARAGE
Est. value
$28.1M
OFFICE BUILDING
Est. value
$20.1M
RETAIL STORES
Est. value
$19.8M
MEDICAL BUILDING
Est. value
$17.7M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$16.9M
WAREHOUSE, STORAGE Current
AUTO REPAIR, GARAGE
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
Buildings
2
Units
2
Lot
3.79 ac
Current owner
From public records · entity-resolved
Phoenix Resource Center LLC
Entity
Free & Clear · 1 yrs held
Mailing address
2235 FARADAY AVE STE O, CARLSBAD, CA 92008-7215
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 13, 2024
$12,625,000
Phoenix Resource Center LLC
Prologis
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.
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