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Property profile & analytics
OFF-MARKET
Estimated value
$6,170,000
Individual retail properties
6501 Virginia Ave Phoenix, AZ 85035-1500
Entity Owned
19-yr Hold
Free & Clear
Property ID
US07-2035964
Property profile
Verified
Property type
Individual retail properties
Use group
GYM, HEALTH SPA
Year built
1990
Construction
CONCRETE
Total area
16,106 SF
Lot
93.94 ac (4,091,818 SF)
Zoning code
R1-6
APN
103-11-255
UPID
US07-2035964
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
-
Desert West Park Mini-Pitches Sports Field & Court Sports School
-
Desert West Community Center Community Center
-
Phoenix Bike Polo Gym & Fitness Center Sports Field & Court
-
Phoenix Desert West Senior Center Community Center
-
Desert West Sports Complex Softball field Sports Field & Court
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$6.17M
Blend (final)
Blend
$6.17M
Owner & transaction history
City Of Phoenix · 19 yrs held
City Of Phoenix
since 2006
1 recorded transaction
Zoning & alternative use
R1-6 · Phoenix, AZ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The purpose of R1-6 is to foster the creation of living areas which can assist the establishment of stable, functional neighborhoods and an established pattern of living in this metropolitan area reflects a tradition of single family occupied dwellings which also emphasize outdoor living
Zone name
Single Family Residence
General category
RESIDENTIAL
Zone area
58,147.94 ac
Source
Realmo
Top alternative use upside
Restaurant
$8.6M
+96.0%
Auto repair, garage
$6.8M
+55.1%
Office building
$4.8M
+10.2%
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
GYM, HEALTH SPA
$4,385,000
Current use
RESTAURANT
$8,600,000
Change: +96% · Conversion: Difficult
AUTO REPAIR, GARAGE
$6,805,000
Change: +55% · Conversion: Difficult
OFFICE BUILDING
$4,835,000
Change: +10% · Conversion: Difficult
RETAIL STORES
$4,800,000
Change: +9% · Conversion: Difficult
MEDICAL BUILDING
$4,275,000
Change: -3% · Conversion: Difficult
WAREHOUSE, STORAGE
$4,180,000
Change: -5% · Conversion: Difficult
Blend value · Realmo final
$6.17M
Range $5.55M – $6.79M · ±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
$383 / 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
Assessed value
$4,118,639
Assessed 2024
Previous assessed
$2,986,590
+37.9% YoY
Land market value
$14,087,700
Improvement market value
$13,369,893
Total market value
$27,457,593
Applied tax rate
831,300.0000
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
Individual retail properties
Use group
GYM, HEALTH SPA
Status
Off-Market
Year built
1990
Construction
CONCRETE
Heating
PACKAGE
Cooling
YES
Buildings
4
Stories
1
Units
2
Total area
16,106 SF
Lot
93.94 ac (4,091,818 SF)
Zoning code
R1-6
APN
103-11-255
UPID
US07-2035964
Jurisdiction
MARICOPA
Zoning & alternative use
R1-6 · Phoenix, AZZoning R1-6 · permitted uses
R1-6 · Phoenix, AZ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The purpose of R1-6 is to foster the creation of living areas which can assist the establishment of stable, functional neighborhoods and an established pattern of living in this metropolitan area reflects a tradition of single family occupied dwellings which also emphasize outdoor living
Zone name
Single Family Residence
General category
RESIDENTIAL
Zone area
58,147.94 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
GYM, HEALTH SPA Current
Est. value
$4.4M
RESTAURANT
Est. value
$8.6M
AUTO REPAIR, GARAGE
Est. value
$6.8M
OFFICE BUILDING
Est. value
$4.8M
RETAIL STORES
Est. value
$4.8M
MEDICAL BUILDING
Est. value
$4.3M
WAREHOUSE, STORAGE
Est. value
$4.2M
GYM, HEALTH SPA Current
RESTAURANT
AUTO REPAIR, GARAGE
OFFICE BUILDING
RETAIL STORES
MEDICAL BUILDING
WAREHOUSE, STORAGE
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
1990
Construction
CONCRETE
Heating
PACKAGE
Cooling
Yes
Stories
1
Buildings
4
Units
2
Lot
93.94 ac
Current owner
From public records · entity-resolved
City Of Phoenix
Entity
Free & Clear · 19 yrs held
Mailing address
251 W WASHINGTON ST FL, PHOENIX, AZ 85003-2295
Ownership since
2006
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
Aug 31, 2006
—
City Of Phoenix
Owner Name Unavailable
Grant 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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