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Property profile & analytics
OFF-MARKET
Estimated value
$47,590,000
Office buildings
999 Playa Del Norte Dr Tempe, AZ 85288-2151
Entity Owned
4-yr Hold
Free & Clear
Property ID
US07-0008305
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
2021
Total area
82,590 SF
Lot
2.32 ac (101,073 SF)
APN
132-31-487
UPID
US07-0008305
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
-
Russ Richelsoph at Davis Miles, PLLC Law Firm
-
Davis Miles, PLLC Law Firm
-
CG Schmidt Construction Company
-
Scoresby Family Law Law Firm
-
Liz Eyelash Extensions Training Hair Salon Nail Salon
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$47.94M
Blend (final)
Blend
$47.59M
Owner & transaction history
City Of Tempe · 4 yrs held
City Of Tempe
since 2021
1 recorded transaction
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$57.6M
+150.0%
Auto repair, garage
$56.8M
+146.5%
Retail stores
$43.5M
+88.8%
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 Tempe submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Tempe 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
RESTAURANT
$57,570,000
Change: +150% · Conversion: Moderate
AUTO REPAIR, GARAGE
$56,775,000
Change: +146% · Conversion: Difficult
RETAIL STORES
$43,490,000
Change: +89% · Conversion: Moderate
NEIGHBORHOOD: SHOPPING CENTER
$41,470,000
Change: +80% · Conversion: Difficult
Blend value · Realmo final
$47.59M
Range $42.83M – $52.35M · ±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
$576 / 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
Assessed value
$5,492,937
Assessed 2024
Land market value
$2,799,700
Improvement market value
$33,819,881
Total market value
$36,619,581
Applied tax rate
31,601.0000
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
2021
Buildings
3
Stories
3
Total area
82,590 SF
Lot
2.32 ac (101,073 SF)
APN
132-31-487
UPID
US07-0008305
Jurisdiction
MARICOPA
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
RESTAURANT
Est. value
$57.6M
AUTO REPAIR, GARAGE
Est. value
$56.8M
RETAIL STORES
Est. value
$43.5M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$41.5M
RESTAURANT
AUTO REPAIR, GARAGE
RETAIL STORES
NEIGHBORHOOD: SHOPPING CENTER
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
Stories
3
Buildings
3
Lot
2.32 ac
Current owner
From public records · entity-resolved
City Of Tempe
Entity
Free & Clear · 4 yrs held
Mailing address
2425 E CAMELBACK RD STE #750, PHOENIX, AZ 85016-4261
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 29, 2021
—
City Of Tempe
979 Playa Del Norte LLC
Special Warranty Deed
—
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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