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Property profile & analytics
OFF-MARKET
Estimated value
$2,085,000
Medical Office Space
720 Thunderbird Rd Phoenix, AZ 85022-5396
Entity Owned
24-yr Hold
Free & Clear
Property ID
US07-0388252
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1984
Construction
CONCRETE
Total area
8,951 SF
Lot
0.61 ac (26,746 SF)
Zoning code
C-O
APN
159-01-003H
UPID
US07-0388252
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
-
Dr. James D. Falk, DDS Dental Office
-
David J. Iacuone, DC Alternative Medicine Practice
-
Katherine C. Iacuone, DC Alternative Medicine Practice
-
Dental Home Family Dentistry Phoenix Dental Office
-
Kristina M. Holder, LAC Alternative Medicine Practice Acupuncture
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.11M
Blend (final)
Blend
$2.09M
Owner & transaction history
Garnett Capital Corp · 24 yrs held
Garnett Capital Corp
since 2002
4 recorded transactions
Zoning & alternative use
C-O · Phoenix, AZ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$2.7M
+13.1%
Retail stores
$2.7M
+12.3%
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
MEDICAL BUILDING
$2,375,000
Current use
OFFICE BUILDING
$2,685,000
Change: +13% · Conversion: Easy
RETAIL STORES
$2,665,000
Change: +12% · Conversion: Difficult
WAREHOUSE, STORAGE
$2,325,000
Change: -2% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$2,280,000
Change: -4% · Conversion: Difficult
Blend value · Realmo final
$2.09M
Range $1.88M – $2.29M · ±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
$233 / 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
$20,702
Tax year 2023
Assessed value
$267,655
Assessed 2024
Previous assessed
$241,570
+10.8% YoY
Effective rate
7.73%
On assessed value
Land market value
$287,900
Improvement market value
$1,334,249
Total market value
$1,622,149
Applied tax rate
691,300.0000
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
1984
Construction
CONCRETE
Heating
PACKAGE
Cooling
YES
Stories
1
Total area
8,951 SF
Lot
0.61 ac (26,746 SF)
Zoning code
C-O
APN
159-01-003H
UPID
US07-0388252
Jurisdiction
MARICOPA
Zoning & alternative use
C-O · Phoenix, AZ
Zoning C-O · permitted uses
C-O · 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
MEDICAL BUILDING Current
Est. value
$2.4M
OFFICE BUILDING
Est. value
$2.7M
RETAIL STORES
Est. value
$2.7M
WAREHOUSE, STORAGE
Est. value
$2.3M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$2.3M
MEDICAL BUILDING Current
OFFICE BUILDING
RETAIL STORES
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
1984
Construction
CONCRETE
Heating
PACKAGE
Cooling
Yes
Stories
1
Lot
0.61 ac
Current owner
From public records · entity-resolved
Garnett Capital Corp
Entity
Free & Clear · 24 yrs held
Mailing address
2 MOON MTN TRL, PHOENIX, AZ 85023-5115
Ownership since
2002
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 1, 2002
$1,175,000
Garnett Capital Corp
Lynx Omni LLC
Grant Deed
related
—
Feb 12, 1999
$825,000
Lynx Omni LLC
Grubb,john S
Grant Deed
$475,000 · Seller
Aug 18, 1992
$240,000
John S Grubb
Valley National
Grant Deed
$120,000 · Valley National Bank
Apr 23, 1992
$190,000
Valley National Bank Dananeass A
Kalos
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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