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Property profile & analytics
OFF-MARKET
Estimated value
$7,020,000
Hotels
9631 Black Cyn Hwy, Phoenix, AZ 85021-2702
Entity Owned
20-yr Hold
~
Est. High Equity
Property ID
US07-0786673
Property profile
Verified
Property type
Hotels
Use group
HOTEL
Year built
1987
Construction
STEEL FRAME
Total area
8,006 SF
Lot
4.07 ac (177,289 SF)
Zoning code
A-1
APN
149-12-004S
UPID
US07-0786673
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
-
Starbucks Cafe & Coffee Shop
-
9631 North Black Canyon Highway Parking Parking Lot & Garage
-
State farm stadium Resort
-
Courtyard Phoenix North Hotel & Motel
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$7.16M
Blend (final)
Blend
$7.02M
Owner & transaction history
C2 Land LP · 20 yrs held
C2 Land LP
since 2006
7 recorded transactions
Zoning & alternative use
A-1 · Phoenix, AZ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$5.6M
+33.7%
Restaurant
$4.3M
+2.5%
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)
$5,575,000
Change: +34% · Conversion: Difficult
RESTAURANT
$4,275,000
Change: +3% · Conversion: Difficult
Blend value · Realmo final
$7.02M
Range $6.32M – $7.72M · ±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
$877 / 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
$129,933
Tax year 2023
Assessed value
$1,856,168
Assessed 2024
Previous assessed
$981,444
+89.1% YoY
Effective rate
7.00%
On assessed value
Land market value
$2,696,200
Improvement market value
$8,553,304
Total market value
$11,249,504
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
Hotels
Use group
HOTEL
Status
Off-Market
Year built
1987
Construction
STEEL FRAME
Heating
PACKAGE
Cooling
YES
Buildings
4
Stories
1
Units
146
Total area
8,006 SF
Lot
4.07 ac (177,289 SF)
Zoning code
A-1
APN
149-12-004S
UPID
US07-0786673
Jurisdiction
MARICOPA
Zoning & alternative use
A-1 · Phoenix, AZ
Zoning 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
Phoenix. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL)
Est. value
$5.6M
RESTAURANT
Est. value
$4.3M
COMMERCIAL (GENERAL)
RESTAURANT
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
1987
Construction
STEEL FRAME
Heating
PACKAGE
Cooling
Yes
Stories
1
Buildings
4
Units
146
Lot
4.07 ac
Current owner
From public records · entity-resolved
C2 Land LP
Entity
Mailing address
1717 MCKINNEY AVE STE #1900, DALLAS, TX 75202-1253
Ownership since
2006
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
Dec 18, 2024
—
Cbm Two Hotels LP
—
Deed
related
$677,000,000 · German American Capital Corp
Jan 17, 2020
—
Cbm Two Hotels LP
—
Deed
related
$684,000,000 · Dbr Invs Co Ltd
Jan 3, 2006
$4,681,937
C2 Land LP
Essex House Condominium Corp
Special Warranty Deed
$120,000,000 · Lehman Brothers Bank Fsb
Apr 1, 2005
—
Courtyard II Associates
—
Deed Of Trust
related
$550,000,000 · Lehman Brothers Bank Fsb
Apr 9, 1998
—
Essex House Condominium Corp
Marriott International INC
Grant Deed
related
—
Nov 18, 1987
—
Greer Properties
—
Deed Of Trust
related
—
—
—
Cbm Two Hotels LP
—
Deed Of Trust
related
$670,000,000 · German Am Cap
—
—
Cbm Two Hotels LP
—
Deed Of Trust
related
$684,000,000 · Dbr Invs Co Ltd
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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