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Property profile & analytics
OFF-MARKET
Estimated value
$1,650,000
Warehouses
732 Illini St Phoenix, AZ 85041
Entity Owned
21-yr Hold
Free & Clear
Property ID
US07-3422348
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1986
Construction
STEEL FRAME
Total area
4,500 SF
Lot
0.42 ac (18,081 SF)
Zoning code
A-1
APN
105-54-009
UPID
US07-3422348
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
$1.67M
Blend (final)
Blend
$1.65M
Owner & transaction history
Wsl Associates INC · 21 yrs held
Wsl Associates INC
since 2005
7 recorded transactions
Zoning & alternative use
A-1 · Phoenix, AZ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The purpose of A-1 zone is to provide industrial uses designed to serve the needs of the community for industrial activity not offensive to nearby commercial and residential uses
Zone name
Light Industrial
General category
INDUSTRIAL
Zone area
16,992.51 ac
Source
Realmo
Top alternative use upside
Auto repair, garage
$1.9M
+62.8%
Office building
$1.4M
+15.6%
Retail stores
$1.3M
+14.8%
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
WAREHOUSE, STORAGE
$1,170,000
Current use
AUTO REPAIR, GARAGE
$1,900,000
Change: +63% · Conversion: Easy
OFFICE BUILDING
$1,350,000
Change: +16% · Conversion: Difficult
RETAIL STORES
$1,340,000
Change: +15% · Conversion: Moderate
MEDICAL BUILDING
$1,195,000
Change: +2% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$1,145,000
Change: -2% · Conversion: Moderate
Blend value · Realmo final
$1.65M
Range $1.49M – $1.82M · ±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
$367 / 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 2022Property tax & assessments
Tax year 2022
Tax billed
$9,356
Tax year 2022
Assessed value
$140,168
Assessed 2024
Previous assessed
$86,190
+62.6% YoY
Effective rate
6.67%
On assessed value
Land market value
$130,200
Improvement market value
$719,300
Total market value
$849,500
Applied tax rate
661,300.0000
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
1986
Construction
STEEL FRAME
Heating
NONE
Cooling
EVAPORATIVE
Buildings
2
Stories
1
Units
2
Total area
4,500 SF
Lot
0.42 ac (18,081 SF)
Zoning code
A-1
APN
105-54-009
UPID
US07-3422348
Jurisdiction
MARICOPA
Zoning & alternative use
A-1 · Phoenix, AZZoning A-1 · permitted uses
A-1 · Phoenix, AZ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The purpose of A-1 zone is to provide industrial uses designed to serve the needs of the community for industrial activity not offensive to nearby commercial and residential uses
Zone name
Light Industrial
General category
INDUSTRIAL
Zone area
16,992.51 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$1.2M
AUTO REPAIR, GARAGE
Est. value
$1.9M
OFFICE BUILDING
Est. value
$1.4M
RETAIL STORES
Est. value
$1.3M
MEDICAL BUILDING
Est. value
$1.2M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.1M
WAREHOUSE, STORAGE Current
AUTO REPAIR, GARAGE
OFFICE BUILDING
RETAIL STORES
MEDICAL BUILDING
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
1986
Construction
STEEL FRAME
Heating
NONE
Cooling
Yes
Stories
1
Buildings
2
Units
2
Lot
0.42 ac
Current owner
From public records · entity-resolved
Wsl Associates INC
Entity
Free & Clear · 21 yrs held
Mailing address
6632 N 66TH PL, PARADISE VALLEY, AZ 85253-4332
Ownership since
2005
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 18, 2005
$675,000
Wsl Associates INC
Viking Props & Investments LLC
Grant Deed
—
Sep 11, 2001
—
Properties Viking
Sedona Trust
Grant Deed
related
—
Sep 6, 2001
—
Sedoan Trust
Riggs,carl W
Grant Deed
related
—
Jan 18, 2000
$252,000
Carl W Riggs
Malcolm,carol A
Grant Deed
—
May 27, 1997
$320,000
Carol A Malcolm
D M C Enterprises
Grant Deed
$256,000 · Seller
Sep 17, 1992
—
John G Colton Family Trust
Colton Family Tr
Quit Claim Deed
related
—
Dec 11, 1990
$340,000
Truck Freymiller
Century Machiner
Grant Deed
—
—
—
Carl W Riggs
—
Deed Of Trust
related
$45,000 · M & I Thunderbird Bank
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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