Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    650 Indian School Rd Phoenix, AZ 85012-1839

    • Hospitals
    • 172,262 SF
    • 35.53 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US07-1337147
    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

    • Va Medical Center-Phoenix: Knight-Nelson Linda J MD / Physician
    • Carl T. Hayden Veterans' Administration Medical Center / Medical Clinic
    • Dr. Himanshu R. Patel, MD / Physician
    • Shaili Patel MD / Physician
    • Tarazon Adriana / Physician / Medical Clinic

    Property Details for 650 Indian School Rd

    Year built
    1951
    Construction
    STEEL FRAME
    Lot size
    35.53 lot acres
    Property size
    172,262 SF
    Zone code
    R-5
    Property type
    Hospitals
    APN
    155-25-001U
    APU
    15525001U

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $67,967,000
      Market price range: $27.1M - $68.0M
      AI Estimate
      $66,717,000
      Market price range: $25.6M - $66.7M

    • Alternative Use

      Use
      Estimation
      MEDICAL BUILDING
      $45,725,000
      Current use
      RESTAURANT
      $91,990,000
      Change: +101% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $72,790,000
      Change: +59% Conversion: Difficult
      RETAIL STORES
      $51,330,000
      Change: +12% Conversion: Difficult
      WAREHOUSE, STORAGE
      $44,710,000
      Change: -2% Conversion: Difficult
      NEIGHBORHOOD: SHOPPING CENTER
      $43,845,000
      Change: -4% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Phoenix
    County
    Maricopa
    State
    Arizona
    Longitude
    -112.067
    Latitude
    33.497
    CBSA code
    38060
    CBSA name
    PHOENIX-MESA-SCOTTSDALE, AZ METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $0.00
    $0.00
    $0.00
    $35,332,139
    -
    $24,930,200
    $210,617,396
    $235,547,596

    Comparable in this City

    • Value Estimation
      $36,095,000
      92,325 SF

      3003 3rd St

      MEDICAL BUILDING • 92,325 SF
      3003 3rd St, Phoenix, AZ 85012-3031
      View Details
    • Value Estimation
      $14,630,000
      95,638 SF

      202 Earll Dr Ste, Unit 360

      MEDICAL BUILDING • 95,638 SF
      202 Earll Dr Ste, Phoenix, AZ 85012-2677
      View Details
    • Value Estimation
      $1,800,000
      4,837 SF

      515 Thomas Rd

      MEDICAL BUILDING • 4,837 SF
      515 Thomas Rd, Phoenix, AZ 85012-3203
      View Details
    • Value Estimation
      $675,000
      1,818 SF

      59 Lexington Ave

      DENTAL BUILDING • 1,818 SF
      59 Lexington Ave, Phoenix, AZ 85012-2320
      View Details
    • Value Estimation
      $10,165,000
      33,108 SF

      3008 3rd St

      HOMES (RETIRED, NURSING) • 33,108 SF
      3008 3rd St, Phoenix, AZ 85012-3002
      View Details
    • Value Estimation
      $1,050,000
      3,208 SF

      5301 6th St

      HOMES (RETIRED, NURSING) • 3,208 SF
      5301 6th St, Phoenix, AZ 85012-1451
      View Details

    Similar Nearby for Sale

    • $1,018,215
      2,057 SF

      Mid-Century Office Building For Sale

      Freestanding 2,057 SF office building with high visibility.
      506 E Camelback Rd, Phoenix, AZ 85012
      View Details
    • Contact for pricing

      Prime Uptown Infill Land

      Land in the heart of Uptown, North Central Phoenix submarket.
      4801 N Central Ave, Phoenix, AZ 85012
      View Details
    • Contact for pricing
      12,396 SF

      Midtown Phoenix Office/Warehouse Property

      Office and warehouse buildings in Midtown Phoenix, fully leased.
      3806 N 3Rd St, Phoenix, AZ 85012
      View Details
    • Contact for pricing
      722,000 SF

      Midtown Phoenix Executive Office Space

      Class A Office, Retail, & Hotel
      3800 Central Ave, Phoenix, AZ 85012
      View Details
    • Contact for pricing

      Windsor Place Condo with Upgrades

      Sleek 3BR, 2 bath condo in Windsor Place.
      353 E Thomas Rd, Phoenix, AZ 85012
      View Details
    • $2,150,000
      0.74 Acres

      Midtown Phoenix Commercial Land

      Prime 0.74-acre development site.
      2833 3Rd St, Phoenix, AZ 85012
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      1,650 SF

      Retail Space on Camelback Road

      1650 SF retail space available on Camelback Road.
      525-533 E Camelback Rd, Phoenix, AZ 85012
      View Details
    • $375,000

      Commercial Land on Camelback Road

      Strategic commercial land available for rent on Camelback Road.
      654 W Camelback Rd, Phoenix, AZ 85012
      View Details
    • $32 SF/Yr
      80 SF

      Renovated Office Space in Midtown

      Newly renovated office space with on-site amenities and community space.
      3141 N 3Rd Ave, Phoenix, AZ 85012
      View Details
    • Contact for pricing
      389 SF

      Phoenix Office Space with Amenities

      Serviced office space with shared amenities available for rent.
      3101-3111 N Central Ave, Phoenix, AZ 85012
      View Details
    • $23 SF/Yr
      252,400 SF

      Phoenix Office Space Available

      Office building with 252,400 square feet available for rent.
      3030 N 3Rd St, Phoenix, AZ 85012
      View Details
    • $2,300 /Mo
      1,540 SF

      Townhome with Private Fenced Courtyard

      Two-bedroom townhome featuring modern kitchen, fireplace, and private courtyard.
      5330 N Central Ave, Phoenix, AZ 85012
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    650 Indian School Rd
    Phoenix, AZ 85012-1839
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.