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Property profile & analytics
OFF-MARKET
Flex space
8903 78th Ave, Peoria, AZ 85345-7956
Individually Owned
3-yr Hold
~
Est. High Equity
Property ID
US07-1259731
Property profile
Verified
Property type
Flex space
Use group
LIGHT INDUSTRIAL
Year built
2003
Construction
CONCRETE
Total area
4,676 SF
Lot
0.69 ac (30,000 SF)
Zoning code
I-1
APN
142-20-065
UPID
US07-1259731
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
-
Custom Design Wood Products General Contractor Renovation Specialist
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Timothy James Russell · 3 yrs held
Timothy James Russell
since 2023
Last sale
$1.5M
7 recorded transactions
Zoning & alternative use
I-1 · Peoria, AZ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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 Peoria submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Peoria 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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
$7,581
Tax year 2023
Assessed value
$167,426
Assessed 2024
Previous assessed
$138,788
+20.6% YoY
Effective rate
4.53%
On assessed value
Land market value
$244,600
Improvement market value
$770,100
Total market value
$1,014,700
Applied tax rate
111,200.0000
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
Flex space
Use group
LIGHT INDUSTRIAL
Status
Off-Market
Year built
2003
Construction
CONCRETE
Heating
HEAT PUMP
Cooling
EVAPORATIVE
Stories
1
Total area
4,676 SF
Lot
0.69 ac (30,000 SF)
Zoning code
I-1
APN
142-20-065
UPID
US07-1259731
Jurisdiction
MARICOPA
Zoning & alternative use
I-1 · Peoria, AZ
Zoning I-1 · permitted uses
I-1 · Peoria, AZ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Peoria. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
2003
Construction
CONCRETE
Heating
HEAT PUMP
Cooling
Yes
Stories
1
Lot
0.69 ac
Current owner
From public records · entity-resolved
Timothy James Russell
Individual
Mailing address
35831 N 10TH ST, PHOENIX, AZ 85086-7427
Ownership since
2023
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
Feb 28, 2023
$1,450,000
Timothy James Russell
K&m Papa LLC
Special Warranty Deed
$1,050,000 · K&m Papa LLC
Apr 23, 2003
$95,000
K & M Papa LLC
Papa,ken & Michelle
Grant Deed
related
$443,000 · Wells Fargo Bank Arizona
Feb 20, 2002
$95,000
Ken Papa
J-rock Drywall INC Retirement
Grant Deed
—
Sep 26, 2001
$81,190
J-rock Drywall INC
J-rock Drywall INC
Grant Deed
related
—
Jul 20, 2000
$81,360
J-rock Drywall INC
Peoria Industrial Park LLC
Grant Deed
$61,879 · Seller
Feb 16, 2000
—
Peoria Industrial Park LLC
Bodine,charlene D
Trustees Deed
related
—
—
—
Ken Papa
—
Deed Of Trust
related
$71,250 · M & I Marshall & Isley Bank
—
—
Elmalon Corp
—
Deed Of Trust
related
$2,716,742 · Seller
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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