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

    6622 7th Ave Phoenix, AZ 85013-1108

    • Assisted living facilities
    • 3,090 SF
    • 0.29 lot acres
    OFF-MARKET
    Last Sale
    Nov 19, 2021
    $640,000
    Value Estimations
    $650,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US07-1497047
    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

    • Assisted living facilities

    Property Details for 6622 7th Ave

    Year built
    1952
    Construction
    CONCRETE BLOCKS
    Lot size
    0.29 lot acres
    Property size
    3,090 SF
    Zone code
    R1-6
    Property type
    Assisted living facilities
    Property subtype
    Retirement homes
    APN
    156-25-048
    APU
    15625048

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $735,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $662,000
      Market price range: $408k - $1.01M
      AI Estimate
      $649,000
      Market price range: $401k - $1.01M

    • Alternative Use

      Use
      Estimation
      HOMES (RETIRED, HANDICAP, REST, CONVALESCENT, NURSING)
      $700,000
      Current use
      RETAIL STORES
      $920,000
      Change: +32% Conversion: Difficult
      MEDICAL BUILDING
      $820,000
      Change: +17% Conversion: Difficult
      WAREHOUSE, STORAGE
      $800,000
      Change: +15% Conversion: Difficult
      OFFICE BUILDING
      $790,000
      Change: +13% Conversion: Difficult
      NEIGHBORHOOD: SHOPPING CENTER
      $785,000
      Change: +12% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Phoenix
    County
    Maricopa
    State
    Arizona
    Longitude
    -112.083
    Latitude
    33.5333
    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
    $3,271
    $0.00
    $0.00
    $61,470
    -
    $122,900
    $491,800
    $614,700

    Comparable in this City

    • Value Estimation by Request
      3,012 SF

      6846 4th Ave

      HOMES (RETIRED, NURSING) • 3,012 SF
      6846 4th Ave, Phoenix, AZ 85013-1106
      View Details
    • Value Estimation
      $765,000
      2,340 SF

      1306 Weldon Ave

      HOMES (RETIRED, NURSING) • 2,340 SF
      1306 Weldon Ave, Phoenix, AZ 85013-3626
      View Details
    • Value Estimation
      $540,000
      1,784 SF

      5629 7th Dr

      HOMES (RETIRED, NURSING) • 1,784 SF
      5629 7th Dr, Phoenix, AZ 85013-1703
      View Details
    • Value Estimation
      $830,000
      6,025 SF

      610 Berridge Ln

      HOMES (RETIRED, NURSING) • 6,025 SF
      610 Berridge Ln, Phoenix, AZ 85013-1550
      View Details
    • Value Estimation
      $745,000
      2,276 SF

      31 Maryland Ave

      HOMES (RETIRED, NURSING) • 2,276 SF
      31 Maryland Ave, Phoenix, AZ 85013-1227
      View Details
    • Value Estimation
      $545,000
      2,111 SF

      830 Amelia Ave

      HOMES (RETIRED, NURSING) • 2,111 SF
      830 Amelia Ave, Phoenix, AZ 85013-3319
      View Details

    Similar Nearby for Sale

    • $3,578,250
      18,350 SF

      Phoenix Office Building For Sale

      Two-story office building with flexible layout in Phoenix, Arizona.
      3620 N 4Th Ave, Phoenix, AZ 85013
      View Details
    • $3,750,000
      13,660 SF

      Phoenix Medical/Rehabilitation Facility For Sale

      Renovated medical facility with courtyard, parking, and lightrail access.
      1212 W Camelback Rd, Phoenix, AZ 85013
      View Details
    • $1,250,000
      0.47 Acres

      Prime Phoenix Commercial Land

      Permit-ready, 0.472-acre lot in midtown.
      1141 Monterosa St, Phoenix, AZ 85013
      View Details
    • $1,450,000
      0.78 Acres

      Phoenix Townhome Development

      13-unit townhome land, fully entitled
      931 Pierson St, Phoenix, AZ 85013
      View Details
    • $575,000
      1,713 SF

      Updated Townhouse in Central Phoenix

      Updated townhouse near dining, shopping, light rail, and bike paths.
      21 W Pasadena Ave, Phoenix, AZ 85013
      View Details
    • $1,500,000

      Phoenix Land Parcel For Sale

      2.5 acre commercial land parcel in Phoenix, Arizona.
      4415 W Pierson St, Phoenix, AZ 85013
      View Details

    Similar Nearby for Lease

    • $19 SF/Yr
      22,514 SF

      Phoenix Medical Office Building

      Prime Phoenix medical space available.
      333 Thomas Rd, Phoenix, AZ 85013
      View Details
    • Contact for pricing
      39,000 SF

      Park Central Retail Space - Central Ave.

      High-traffic retail space, multiple tenants.
      3121 3Rd Ave, Phoenix, AZ 85013
      View Details
    • Contact for pricing
      200 SF

      Phoenix Commercial Kitchen Space

      200 sq ft Ghost Kitchen - Ready to Lease
      720 Highland Ave, Phoenix, AZ 85013
      View Details
    • $26 SF/Yr
      4,320 SF

      Retail Space Near St. Joseph Hospital

      Retail space for lease with high visibility on Thomas Road.
      501-515 W Thomas Rd, Phoenix, AZ 85013
      View Details
    • $19 SF/Yr
      4,831 SF

      Modern Office Space Available

      Modern office space for rent in prime location.
      4601 N 7Th Ave, Phoenix, AZ 85013
      View Details
    • Contact for pricing
      10,019 SF

      Freestanding Retail Building For Rent

      Freestanding retail building with flexible zoning and ample parking.
      4116 N 7Th Ave, Phoenix, AZ 85013
      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.
    6622 7th Ave
    Phoenix, AZ 85013-1108
    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.