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Property profile & analytics
FOR LEASE
Retail space
8801 N Central Ave, Phoenix, AZ 85020
Entity Owned
7-yr Hold
~
Est. High Equity
Property ID
US07-1384160
For Lease
1 / 32
$7,416/Mo
8801 N Central Ave, Phoenix, AZ 85020
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Property summary
AI-generated overview
This Phoenix office building, located at 8801 N Central Ave, offers 7,724 square feet of versatile space, ideal for executive, creative, or traditional office uses. Currently, 5,268 square feet are available in multiple contiguous units, with a minimum divisible space of 1,968 square feet. The two-story, Class B building was constructed in 1955 and extensively renovated in 2015, boasting 18-foot ceilings and an industrial-modern design featuring exposed trusses and polished concrete floors. The property includes approximately two parking spaces per 1,000 square feet and is conveniently located in Phoenix, AZ, 85020, with easy access to major transportation routes and numerous amenities. Zoned C-2 by the City of Phoenix (APN 16050197), this property presents a unique opportunity for businesses seeking a stylish and functional workspace in a prime location. The building features no elevators.
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1955
Construction
CONCRETE
Total area
972 SF
Lot
1 ac (43,555 SF)
Zoning code
C-2
APN
160-50-197
UPID
US07-1384160
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
-
Borum Engineering Engineering Consultant
-
myxMedia.org Media Distribution
-
Reverie West | S E Design Interior Design Home Decor Store
-
Nielsen Design Studios Inc. Interior Design Home Decor Store
-
TIMO WINE BAR Bar & Pub
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$536k
Blend (final)
Blend
$530k
Owner & transaction history
Diversified Properties LLC · 7 yrs held
Diversified Properties LLC
since 2018
7 recorded transactions
Zoning & alternative use
C-2 · Phoenix, AZ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$675,000
+133.7%
Auto repair, garage
$410,000
+41.8%
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
COMMERCIAL (GENERAL)
$675,000
Change: +134% · Conversion: Easy
AUTO REPAIR, GARAGE
$410,000
Change: +42% · Conversion: Difficult
Blend value · Realmo final
$530k
Range $477k – $583k · ±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
$545 / 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
$9,769
Tax year 2023
Assessed value
$195,030
Assessed 2024
Previous assessed
$134,453
+45.1% YoY
Effective rate
5.01%
On assessed value
Land market value
$520,500
Improvement market value
$661,500
Total market value
$1,182,000
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
For Lease
Year built
1955
Construction
CONCRETE
Heating
NONE
Cooling
EVAPORATIVE
Buildings
2
Stories
1
Units
2
Total area
972 SF
Lot
1 ac (43,555 SF)
Zoning code
C-2
APN
160-50-197
UPID
US07-1384160
Jurisdiction
MARICOPA
Zoning & alternative use
C-2 · Phoenix, AZ
Zoning C-2 · permitted uses
C-2 · 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
$675,000
AUTO REPAIR, GARAGE
Est. value
$410,000
COMMERCIAL (GENERAL)
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
1955
Construction
CONCRETE
Heating
NONE
Cooling
Yes
Stories
1
Buildings
2
Units
2
Lot
1 ac
Current owner
From public records · entity-resolved
Diversified Properties LLC
Entity
Mailing address
PO BOX 2595, GILBERT, AZ 85299-2595
Ownership since
2018
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 22, 2021
—
Diversified Properties LLC
—
Deed
related
$500,000 · Western Alliance Bank
Dec 31, 2018
—
Diversified Properties LLC
Michael W Nielsen
Warranty Deed
$535,000 · Midfirst Bank
Mar 16, 1993
—
Michael W Nielsen
City Of Phoenix
Grant Deed
$315,000 · Zions First National Bank
—
—
Michael W Nielsen
—
Deed Of Trust
related
$110,000 · Jeffreen E Weisman
—
—
Michael W Nicholson
—
Deed Of Trust
related
$560,000 · Firstar Bank
—
—
Nielsen Diversified INC
—
Deed Of Trust
related
$86,875 · Phoenix City (az)
—
—
Nielsen Diversified INC
—
Deed Of Trust
related
$24,726 · Phoenix City (az)
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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