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Property profile & analytics
OFF-MARKET
Bars & Pubs
903 2nd St Phoenix, AZ 85004-1906
Entity Owned
7-yr Hold
~
Est. High Equity
Property ID
US07-0314747
Property profile
Verified
Property type
Bars & Pubs
Use group
NIGHTCLUB (COCKTAIL LOUNGE)
Year built
1963
Construction
CONCRETE
Total area
15,836 SF
Lot
0.57 ac (24,780 SF)
Zoning code
DTC-W-EV
APN
111-43-079A
UPID
US07-0314747
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
-
Blah Pediatrician Physician
-
Raby Andrea L Do Physician
-
Leslie Joshua J Employment Agency
-
Dr. David E. Schaeffer, DO Physician
-
Erich Brueschke, PA Physician
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
Ro2 903 LLC · 7 yrs held
Ro2 903 LLC
since 2019
7 recorded transactions
Zoning & alternative use
DTC-W-EV · Phoenix, 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 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
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
$41,368
Tax year 2023
Assessed value
$820,945
Assessed 2024
Previous assessed
$358,071
+129.3% YoY
Effective rate
5.04%
On assessed value
Land market value
$2,478,000
Improvement market value
$2,497,422
Total market value
$4,975,422
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
Bars & Pubs
Use group
NIGHTCLUB (COCKTAIL LOUNGE)
Status
Off-Market
Year built
1963
Construction
CONCRETE
Heating
PACKAGE
Cooling
YES
Stories
1
Total area
15,836 SF
Lot
0.57 ac (24,780 SF)
Zoning code
DTC-W-EV
APN
111-43-079A
UPID
US07-0314747
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.
Building & site characteristics
From public records
Year built
1963
Construction
CONCRETE
Heating
PACKAGE
Cooling
Yes
Stories
1
Lot
0.57 ac
Current owner
From public records · entity-resolved
Ro2 903 LLC
Entity
Mailing address
214 E ROOSEVELT ST, PHOENIX, AZ 85004-1951
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
11 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 16, 2026
—
Ro2 903 LLC
—
Deed
related
$7,050,000 · Southwest Heritage Bank
Feb 15, 2023
—
Ro2 903 LLC
—
Deed
related
$5,500,000 · Security National Bank
Apr 9, 2021
—
Ro2 903 LLC
—
Deed
related
$4,125,000 · Horicon Bank
Apr 25, 2019
—
Ro2 903 LLC
—
Deed
related
$4,414,920 · Firstbank
Jan 4, 2019
$3,500,000
Ro2 903 LLC
Carnagan LLC
Grant Deed
—
Nov 29, 2012
$1,500,000
Cloud 9 Dev Corp Dev Corp
Carnagan LLC
Warranty Deed
—
Aug 15, 2002
$856,250
Carnagan LLC
Easter Seals Arizona INC
Grant Deed
related
$69,000 · Us Bank NA
Apr 5, 2000
—
Easter Seals Arizona INC
Easter Seal Society Of Arizona
Quit Claim Deed
related
—
—
—
Ro2 903 LLC
—
Deed Of Trust
related
$4,414,920 · Firstbank
—
—
Easter Seals Arizona INC
—
Deed Of Trust
related
$600,000 · Camelback Community Bank
—
—
Carnagan LLC
—
Deed Of Trust
related
$660,000 · Sunrise Bank Of Arizona
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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