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Property profile & analytics
OFF-MARKET
Estimated value
$3,615,000
Flex space
6875 21st Ave Phoenix, AZ 85015-1137
Trust Owned
20-yr Hold
Absentee Owner
Free & Clear
Property ID
US07-0816538
Property profile
Verified
Property type
Flex space
Use group
LIGHT INDUSTRIAL
Year built
1973
Construction
CONCRETE
Total area
9,150 SF
Lot
2.43 ac (106,060 SF)
Zoning code
C-2
APN
156-16-131
UPID
US07-0816538
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
-
Andrew's Woodworks General Contractor
-
JSE Automotive Auto Repair Shop
-
jbacousticsaz.com General Contractor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$3.62M
Blend (final)
Blend
$3.62M
Owner & transaction history
Mchenry David J Trust · 20 yrs held
Mchenry David J Trust
since 2006
1 recorded transaction
Zoning & alternative use
C-2 · Phoenix, AZ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$4.9M
+142.7%
Auto repair, garage
$3.9M
+92.1%
Retail stores
$2.7M
+35.5%
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
RESTAURANT
$4,885,000
Change: +143% · Conversion: Difficult
AUTO REPAIR, GARAGE
$3,865,000
Change: +92% · Conversion: Easy
RETAIL STORES
$2,725,000
Change: +35% · Conversion: Moderate
MEDICAL BUILDING
$2,430,000
Change: +21% · Conversion: Difficult
WAREHOUSE, STORAGE
$2,375,000
Change: +18% · Conversion: Easy
NEIGHBORHOOD: SHOPPING CENTER
$2,330,000
Change: +16% · Conversion: Difficult
Blend value · Realmo final
$3.62M
Range $3.25M – $3.98M · ±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
$395 / 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
$46,126
Tax year 2023
Assessed value
$518,776
Assessed 2024
Previous assessed
$458,014
+13.3% YoY
Effective rate
8.89%
On assessed value
Land market value
$1,213,900
Improvement market value
$1,930,197
Total market value
$3,144,097
Applied tax rate
61,300.0000
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
Flex space
Use group
LIGHT INDUSTRIAL
Status
Off-Market
Year built
1973
Construction
CONCRETE
Heating
PACKAGE
Cooling
YES
Buildings
4
Stories
1
Units
4
Total area
9,150 SF
Lot
2.43 ac (106,060 SF)
Zoning code
C-2
APN
156-16-131
UPID
US07-0816538
Jurisdiction
MARICOPA
Zoning & alternative use
C-2 · Phoenix, AZ
Zoning C-2 · permitted uses
C-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
RESTAURANT
Est. value
$4.9M
AUTO REPAIR, GARAGE
Est. value
$3.9M
RETAIL STORES
Est. value
$2.7M
MEDICAL BUILDING
Est. value
$2.4M
WAREHOUSE, STORAGE
Est. value
$2.4M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$2.3M
RESTAURANT
AUTO REPAIR, GARAGE
RETAIL STORES
MEDICAL BUILDING
WAREHOUSE, STORAGE
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
1973
Construction
CONCRETE
Heating
PACKAGE
Cooling
Yes
Stories
1
Buildings
4
Units
4
Lot
2.43 ac
Current owner
From public records · entity-resolved
Mchenry David J Trust
Trust
Free & Clear · 20 yrs held
Mailing address
1450 E INDIAN SCHOOL RD STE #104, PHOENIX, AZ 85014-4954
Mailing matches property
Different — outreach signal
Owner-occupied
No
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
Jun 22, 2006
—
Mchenry David J Trust
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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