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Property profile & analytics
OFF-MARKET
Estimated value
$4,935,000
Strip malls
10215 28th Dr Phoenix, AZ 85051-1523
Entity Owned
1-yr Hold
~
Est. High Equity
Property ID
US07-0673252
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1977
Construction
CONCRETE
Total area
27,873 SF
Lot
2 ac (87,096 SF)
Zoning code
RSC
APN
149-16-397
UPID
US07-0673252
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
-
T-Mobile Mobile Phone Store Electronics & Wireless Store
-
Jamaris' Kitchen LLC Catering Service Take-out & Catering
-
Appliances liquidation Department Store
-
Furniture liquidators Home Decor Store Department Store
-
The chill spot LLC Restaurant Buffet
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$5.17M
Blend (final)
Blend
$4.94M
Owner & transaction history
28 Az LLC · 1 yrs held
28 Az LLC
since 2025
7 recorded transactions
Zoning & alternative use
RSC · Phoenix, AZ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The intent of RSC district is to provide for major regional shopping facilities in those locations in the City deemed appropriate for such intense concentrations to serve large geographic areas while at the same time affording protection to nearby areas
Zone name
Regional Shopping Center
General category
COMMERCIAL
Zone area
178.53 ac
Source
Realmo
Top alternative use upside
Medical building
$7.4M
+4.3%
Warehouse, storage
$7.2M
+2.0%
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
NEIGHBORHOOD: SHOPPING CENTER
$7,095,000
Current use
MEDICAL BUILDING
$7,400,000
Change: +4% · Conversion: Difficult
WAREHOUSE, STORAGE
$7,235,000
Change: +2% · Conversion: Difficult
Blend value · Realmo final
$4.94M
Range $4.44M – $5.43M · ±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
$177 / 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
$41,645
Tax year 2023
Assessed value
$622,734
Assessed 2024
Previous assessed
$515,423
+20.8% YoY
Effective rate
6.69%
On assessed value
Land market value
$1,649,900
Improvement market value
$2,124,244
Total market value
$3,774,144
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
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
Off-Market
Year built
1977
Construction
CONCRETE
Heating
PACKAGE
Cooling
YES
Stories
1
Total area
27,873 SF
Lot
2 ac (87,096 SF)
Zoning code
RSC
APN
149-16-397
UPID
US07-0673252
Jurisdiction
MARICOPA
Zoning & alternative use
RSC · Phoenix, AZZoning RSC · permitted uses
RSC · Phoenix, AZ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The intent of RSC district is to provide for major regional shopping facilities in those locations in the City deemed appropriate for such intense concentrations to serve large geographic areas while at the same time affording protection to nearby areas
Zone name
Regional Shopping Center
General category
COMMERCIAL
Zone area
178.53 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$7.1M
MEDICAL BUILDING
Est. value
$7.4M
WAREHOUSE, STORAGE
Est. value
$7.2M
NEIGHBORHOOD: SHOPPING CENTER Current
MEDICAL BUILDING
WAREHOUSE, STORAGE
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
1977
Construction
CONCRETE
Heating
PACKAGE
Cooling
Yes
Stories
1
Lot
2 ac
Current owner
From public records · entity-resolved
28 Az LLC
Entity
Mailing address
13740 N HWY 183RD STE L1, AUSTIN, TX 78750-1833
Ownership since
2025
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
Mar 28, 2025
—
28 Az LLC
Austin San Leon LLC
Special Warranty Deed
—
Nov 22, 2022
—
Standard Insurance Company
Austin San Leon LLC
Intrafamily Transfer
related
$2,500,000 · Standard Insurance Co
Jul 23, 2021
$2,750,000
Austin Leon LLC
Eb Commercial Rental Property LLC
Special Warranty Deed
—
Nov 24, 2015
$3,850,000
Eb Commercial Rental Property LLC
Metro Property LLC
Special Warranty Deed
$2,695,000 · The Foothills Bank
Apr 9, 2014
$3,400,000
Metro Property LLC
Fortune International Propeteis LLC
Special Warranty Deed
$2,145,000 · Wells Fargo Bank NA
Jan 28, 2010
$950,000
Fortune Intl Props LLC
Highland Mc LLC
Grant Deed
—
Jan 25, 2010
—
Highland Mc LLC
—
Trustees Deed
related
$1,457,119 · Wcrt Seller LLC
Jun 17, 2005
$32,075,000
Highland Mc LLC
Pv Metrocenter LLC
Grant Deed
$30,250,000 · Cf First U LLC
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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