New search
Property profile & analytics
OFF-MARKET
Estimated value
$9,770,000
Outlet malls
10223 Metro E Pkwy, Phoenix, AZ 85051-1515
Entity Owned
13-yr Hold
~
Est. High Equity
Property ID
US07-0930167
Property profile
Verified
Property type
Outlet malls
Use group
WHOLESALE OUTLET, DISCOUNT STORE
Year built
1975
Construction
CONCRETE
Total area
17,880 SF
Lot
5.11 ac (222,658 SF)
Zoning code
C-2
APN
149-16-001U
UPID
US07-0930167
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
-
HOOTERS METROCENTER Restaurant
-
Hooters Bar & Pub
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$9.86M
Blend (final)
Blend
$9.77M
Owner & transaction history
Reddy Ventures LLC · 13 yrs held
Reddy Ventures LLC
since 2013
6 recorded transactions
Zoning & alternative use
C-2 · Phoenix, AZ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$12.5M
+133.7%
Restaurant
$9.6M
+79.2%
Auto repair, garage
$7.6M
+41.8%
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 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)
$12,450,000
Change: +134% · Conversion: Easy
RESTAURANT
$9,550,000
Change: +79% · Conversion: Easy
AUTO REPAIR, GARAGE
$7,555,000
Change: +42% · Conversion: Difficult
Blend value · Realmo final
$9.77M
Range $8.79M – $10.75M · ±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
$546 / 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
$81,585
Tax year 2023
Assessed value
$1,307,839
Assessed 2024
Previous assessed
$1,126,437
+16.1% YoY
Effective rate
6.24%
On assessed value
Land market value
$3,495,700
Improvement market value
$4,430,598
Total market value
$7,926,298
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
Outlet malls
Use group
WHOLESALE OUTLET, DISCOUNT STORE
Status
Off-Market
Year built
1975
Construction
CONCRETE
Heating
PACKAGE
Cooling
YES
Buildings
6
Stories
1
Units
5
Total area
17,880 SF
Lot
5.11 ac (222,658 SF)
Zoning code
C-2
APN
149-16-001U
UPID
US07-0930167
Jurisdiction
MARICOPA
Zoning & alternative use
C-2 · Phoenix, AZ
Zoning C-2 · permitted uses
C-2 · 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
$12.5M
RESTAURANT
Est. value
$9.6M
AUTO REPAIR, GARAGE
Est. value
$7.6M
COMMERCIAL (GENERAL)
RESTAURANT
AUTO REPAIR, GARAGE
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
1975
Construction
CONCRETE
Heating
PACKAGE
Cooling
Yes
Stories
1
Buildings
6
Units
5
Lot
5.11 ac
Current owner
From public records · entity-resolved
Reddy Ventures LLC
Entity
Mailing address
4335 MARINA CITY DR PH #32, MARINA DEL REY, CA 90292-5802
Ownership since
2013
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 20, 2013
—
Reddy Ventures LLC
Reddy Irrev R/e Trust
Quit Claim Deed
—
Aug 7, 2009
—
Irrevocable R Es Reddy
Reddy Ventures LLC
Quit Claim Deed
—
May 6, 2005
$4,660,000
Reddy Ventures LLC
Metrocenter Associates LLC
Special Warranty Deed
—
Dec 16, 2004
$47,500
Metrocenter Associates LLC
Westbar Limited Partnershi
Grant Deed
related
$34,686,800 · California Bank & Trust
Nov 1, 1987
$600,000
D V M Etal
Az Ap
Grant Deed
related
—
—
—
Reddy Ventures LLC
—
Deed Of Trust
related
$5,000,000 · Citigroup Global Markets Rlty
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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