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Property profile & analytics
FOR LEASE
Parking lots & garages
800 N 2Nd St, Phoenix, AZ 85004
Entity Owned
6-yr Hold
~
Est. High Equity
Property ID
US07-2498442
For Lease
1 / 2
$13,955,000
800 N 2Nd St, Phoenix, AZ 85004
View Listing →
Property profile
Verified
Property type
Parking lots & garages
Use group
PARKING GARAGE, PARKING STRUCTURE
Year built
2021
Total area
22,800 SF
Lot
0.34 ac (14,706 SF)
Zoning code
DTC-W-EV
APN
111-43-053B
UPID
US07-2498442
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
-
Derby Real Estate Agency
-
Derby Apartments Apartment Complex Apartment Building
-
The Derby Apartment Complex Apartment Building
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$14.21M
Blend (final)
Blend
$13.96M
Owner & transaction history
Derby-rr LLC · 6 yrs held
Derby-rr LLC
since 2019
3 recorded transactions
Zoning & alternative use
DTC-W-EV · Phoenix, AZ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$17.2M
+122.5%
Restaurant
$12.2M
+57.4%
Auto repair, garage
$9.6M
+24.6%
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
COMMERCIAL (GENERAL)
$17,205,000
Change: +122% · Conversion: Difficult
RESTAURANT
$12,175,000
Change: +57% · Conversion: Difficult
AUTO REPAIR, GARAGE
$9,635,000
Change: +25% · Conversion: Difficult
Blend value · Realmo final
$13.96M
Range $12.56M – $15.35M · ±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
$612 / 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
$172,372
Tax year 2023
Assessed value
$6,286,550
Assessed 2024
Previous assessed
$121,470
+5,075.4% YoY
Effective rate
2.74%
On assessed value
Land market value
$12,573,100
Improvement market value
$50,292,400
Total market value
$62,865,500
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
Parking lots & garages
Use group
PARKING GARAGE, PARKING STRUCTURE
Status
For Lease
Year built
2021
Heating
NONE
Buildings
5
Stories
6
Total area
22,800 SF
Lot
0.34 ac (14,706 SF)
Zoning code
DTC-W-EV
APN
111-43-053B
UPID
US07-2498442
Jurisdiction
MARICOPA
Zoning & alternative use
DTC-W-EV · Phoenix, AZ
Zoning DTC-W-EV · permitted uses
DTC-W-EV · 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
COMMERCIAL (GENERAL)
Est. value
$17.2M
RESTAURANT
Est. value
$12.2M
AUTO REPAIR, GARAGE
Est. value
$9.6M
COMMERCIAL (GENERAL)
RESTAURANT
AUTO REPAIR, GARAGE
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
2021
Heating
NONE
Stories
6
Buildings
5
Lot
0.34 ac
Current owner
From public records · entity-resolved
Derby-rr LLC
Entity
Mailing address
1225 17TH ST STE #1100, DENVER, CO 80202-5599
Ownership since
2019
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 3, 2024
—
Derby Rr LLC
—
Deed
related
$24,000,000 · Ladder Capital Finance LLC
Dec 13, 2019
—
Derby-rr LLC
Derby-rr LLC
Grant Deed
related
$25,000,000 · Tcf Nat'l Bk
Sep 27, 2019
—
Derby-rr LLC
Derby-rr LLC
Correction 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
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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