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Property profile & analytics
OFF-MARKET
Estimated value
$540,000
Turn key restaurants
701 2nd Ave Phoenix, AZ 85003
Individually Owned
25-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US07-1328501
Property profile
Verified
Property type
Turn key restaurants
Use group
RESTAURANT
Year built
1969
Construction
CONCRETE
Total area
2,260 SF
Lot
0.07 ac (3,240 SF)
Zoning code
C-DT
APN
112-23-064A
UPID
US07-1328501
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$587k
Blend (final)
Blend
$540k
Owner & transaction history
Ernest D Caro · 25 yrs held
Ernest D Caro
since 2000
7 recorded transactions
Zoning & alternative use
C-DT · Phoenix, AZ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
Blend value · Realmo final
$540k
Range $486k – $594k · ±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
$239 / 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
$2,976
Tax year 2023
Assessed value
$36,698
Assessed 2024
Previous assessed
$29,988
+22.4% YoY
Effective rate
8.11%
On assessed value
Land market value
$62,600
Improvement market value
$159,812
Total market value
$222,412
Applied tax rate
11,300.0000
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
Turn key restaurants
Use group
RESTAURANT
Status
Off-Market
Year built
1969
Construction
CONCRETE
Heating
PACKAGE
Cooling
YES
Stories
1
Units
83
Total area
2,260 SF
Lot
0.07 ac (3,240 SF)
Zoning code
C-DT
APN
112-23-064A
UPID
US07-1328501
Jurisdiction
MARICOPA
Zoning & alternative use
C-DT · Phoenix, AZ
Zoning C-DT · permitted uses
C-DT · 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.
Building & site characteristics
From public records
Year built
1969
Construction
CONCRETE
Heating
PACKAGE
Cooling
Yes
Stories
1
Units
83
Lot
0.07 ac
Current owner
From public records · entity-resolved
Ernest D Caro
Individual
Mailing address
805 N 4TH AVE UNIT #804, PHOENIX, AZ 85003-1307
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2000
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
16 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 28, 2021
—
Earl Wilcox
—
Deed
related
$50,000 · Prestamos Cdfi LLC
Sep 2, 2021
—
Earl Wilcox
—
Deed
related
$150,000 · Prestamos Cdfi LLC
Apr 26, 2021
—
Earl Wilcox
—
Deed
related
$40,000 · Prestamos Cdfi LLC
Aug 22, 2019
—
Earl V Wilcox
—
Deed
related
$250,000 · Nh Profit Invs II LLC
Oct 13, 2000
—
Ernest D Caro
Zapien,maria C
Quit Claim Deed
related
—
Mar 10, 2000
—
Ernest D Caro
Sanchez,sylvia Z
Quit Claim Deed
related
—
Nov 8, 1999
—
Ernest D Caro
Zapien,jessie
Quit Claim Deed
related
—
Nov 8, 1999
$100,000
Wilcox,earl & Mary R
Caro,ernest D
Trustees Deed
$100,000 · First Capital Bank Arizona
Oct 28, 1993
$90,386
Sally Zapien
Pesqueira
Trustees Deed
—
—
—
Earl V Wilcox
—
Deed Of Trust
related
$250,000 · Nh Profit Invs II LLC
—
—
Ernest D Caro
—
Deed Of Trust
related
—
—
—
Earl Wilcox
—
Deed Of Trust
related
$165,000 · Prestamos Cdfi LLC
—
—
Grant Park Ents LLC
—
Deed Of Trust
related
$165,000 · Prestamos Cdfi LLC
—
—
Earl Wilcox
—
Deed Of Trust
related
$120,000 · Prestamos Cdfi LLC
—
—
Earl Wilcox
—
Deed Of Trust
related
$50,000 · Prestamos Cdfi LLC
—
—
Grant Park Ents LLC
—
Deed Of Trust
related
$450,000 · Community Bank Nevada
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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