Property profile

650 2nd Ave Phoenix, AZ 85003

OFF-MARKET
Parking lots & garages
Property ID
US07-2337346
26,116 SF 0.88 ac lot Built 2013
Entity Owned 13-yr Hold ~ Est. High Equity
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Property profile

Verified
Property type Parking lots & garages
Use group PARKING GARAGE, PARKING STRUCTURE
Year built 2013
Construction CONCRETE
Total area 26,116 SF
Lot 0.88 ac (38,514 SF)
Zoning code DTC-E-ROO
APN 111-40-123
UPID US07-2337346

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Apartment Complex
  • Advertising Agency Marketing & Advertising
  • Industrial Manufacturer

Location

650 2nd Ave Phoenix, AZ 85003-1546
Phoenix metro Census 113100 PHOENIX-MESA-SCOTTSDALE, AZ METROPOLITAN STATISTICAL AREA
Google Maps

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
$16.28M
Blend (final) Blend
$835k

Owner & transaction history

since 2012
4 recorded transactions
2012
$850,000
1969
Price N/A
1969
Price N/A
1969
Price N/A

Zoning & alternative use

DTC-E-ROO · Phoenix, AZ
Zoning description

The Roosevelt East character area is comprised of a mixture of historic buildings with larger blocks of land with high-rise entitlements. The area will serve as a transition zone from the smaller scale Roosevelt South an…

General category COMMERCIAL
Top alternative use upside
Commercial (general) $20.8M +134.5%
Restaurant $13.9M +57.4%
Auto repair, garage $11.0M +24.6%

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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