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Property profile & analytics
FOR SALE
Turn key restaurants
7023 N 19Th Ave Phoenix, AZ 85021
Entity Owned
1-yr Hold
~
Est. High Equity
Property ID
US07-3449009
For Sale
$1,970,000
7023 N 19Th Ave, Phoenix, AZ 85021
View Listing →
Property profile
Verified
Property type
Turn key restaurants
Use group
RESTAURANT
Year built
1979
Construction
STEEL FRAME
Total area
3,254 SF
Lot
0.96 ac (41,672 SF)
Zoning code
C-C
APN
157-16-009C
UPID
US07-3449009
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
-
Thai Lotus Restaurant Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.49M
Blend (final)
Blend
$1.97M
Owner & transaction history
Launch Glendale LLC · 1 yrs held
Launch Glendale LLC
since 2025
Last sale
$2.5M
7 recorded transactions
Zoning & alternative use
C-C · Phoenix, AZ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$2.3M
+30.4%
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
$1,740,000
Current use
COMMERCIAL (GENERAL)
$2,265,000
Change: +30% · Conversion: Easy
Blend value · Realmo final
$1.97M
Range $1.77M – $2.17M · ±10% · vs last sale $2.50M (Nov 14 2024)
Last sale anchor
$2.50M
Nov 14 2024
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
$605 / 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
$12,702
Tax year 2023
Assessed value
$157,641
Assessed 2024
Previous assessed
$142,885
+10.3% YoY
Effective rate
8.06%
On assessed value
Land market value
$606,500
Improvement market value
$348,900
Total market value
$955,400
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
Turn key restaurants
Use group
RESTAURANT
Status
For Sale
Year built
1979
Construction
STEEL FRAME
Heating
NONE
Stories
1
Total area
3,254 SF
Lot
0.96 ac (41,672 SF)
Zoning code
C-C
APN
157-16-009C
UPID
US07-3449009
Jurisdiction
MARICOPA
Zoning & alternative use
C-C · Phoenix, AZ
Zoning C-C · permitted uses
C-C · 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 Current
Est. value
$1.7M
COMMERCIAL (GENERAL)
Est. value
$2.3M
RESTAURANT Current
COMMERCIAL (GENERAL)
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
1979
Construction
STEEL FRAME
Heating
NONE
Stories
1
Lot
0.96 ac
Current owner
From public records · entity-resolved
Launch Glendale LLC
Entity
Mailing address
417 E BRK HOLW DR, PHOENIX, AZ 85022-3694
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
10 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 13, 2026
—
Launch Glendale LLC
—
Deed
related
$1,304,000 · Academy Bank NA
Feb 14, 2025
$2,500,000
Launch Glendale LLC
Haugen Enterprises
Special Warranty Deed
$1,500,000 · Haugen Enterprises
Dec 16, 2016
—
Haugen Ents
Haugen Trust
Quit Claim Deed
related
—
Dec 14, 2016
—
Haugen Ents
Haugen Trust
Quit Claim Deed
related
—
Dec 12, 2005
—
Ents Haugen
Haugen Trust
Quit Claim Deed
related
—
Nov 30, 2005
$594,250
Ents Haugen
Haugen Trust
Grant Deed
related
—
Sep 30, 2005
$297,125
Ents Haugen
Haugen Trust
Grant Deed
related
—
Sep 30, 2005
$594,250
Ents Haugen
Haugen Trust
Grant Deed
related
—
Nov 16, 1998
$1,212,600
Montevida LLC
Haugen Enterprises
Grant Deed
related
$14,000,000 · Bank Of America
Aug 12, 1997
—
Anna M Walker Trust
Anna M Walker
Quit Claim 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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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