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    7723 W Thomas Rd Phoenix, AZ 85012

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    For Sale
    $2,043,700

    Bank of America NNN ground lease in Phoenix, Arizona.

    Property size:
    4,240 SF
    Lot size:
    1.45 Acres

    Property Features for 7723 W Thomas Rd

    General Information

    Size
    4,240 SF
    Lot size
    1.45 Acres

    Source: Marcus & Millichap | Phoenix Agent Mark Ruble

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Bank of America Ground Lease

    This property features a Bank of America location with approximately 6 years remaining on an absolute NNN ground lease. The property is located in a highly populated Phoenix trade area with an estimated 409,907 residents within a 5-mile radius. Rent increases are scheduled every 5 years, with only one renewal option remaining. According to Placer.ai, this Bank of America location is ranked #1 out of 98 locations in Arizona. The property is an outparcel to Desert Sky Mall, a regional shopping mall with approximately 130 stores. The building size is 4,240 square feet.
    Insight Report Location Intelligence

    Current Use by Public Records

    Bank of America (with ... Financial Planner Bank of America ATM ... Atm

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Phoenix
    County
    Maricopa
    State
    Arizona
    Longitude
    -112.2242285
    Latitude
    33.4796546

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    FAQs

    What type of property is this?
    Bank - Bank of America NNN ground lease in Phoenix, Arizona.
    Where is this bank located?
    The property is located at 7723 W Thomas Rd Phoenix, AZ.
    What is the asking price?
    The asking price for this property is $2,043,700.
    What are key features of this property?
    This property features: - Ranked #1 out of 98 Bank of America locations in Arizona (Placer.ai); - 6 Years Remaining on Absolute NNN Ground Lease - $200M+ in Deposits; - Rent Increases Every 5 Years - Only 1 Renewal Option Remaining
    (602) 770-2935
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    7723 W Thomas Rd Phoenix, AZ 85012
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    Phoenix, AZ 85012
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    7723 W Thomas Rd Phoenix, AZ 85012
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