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Property profile & analytics
OFF-MARKET
Estimated value
$2,875,000
Grocery and convenience stores
1034 Ml Ave Tempe, AZ 85281-5606
Individually Owned
10-yr Hold
~
Est. High Equity
Property ID
US07-1293355
Property profile
Verified
Property type
Grocery and convenience stores
Use group
GROCERY, SUPERMARKET
Year built
1943
Construction
CONCRETE
Total area
3,010 SF
Lot
0.44 ac (18,994 SF)
Zoning code
CC
APN
132-45-013C
UPID
US07-1293355
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
-
AirGarage | Public Parking Parking Lot & Garage
-
Coastal Church Arizona Church
-
Campus Christian Center Church
-
Ascend Church Church
-
Lighthouse Chapel International - Phoenix Church
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.87M
Blend (final)
Blend
$2.88M
Owner & transaction history
University Christian Legacy Fu · 10 yrs held
University Christian Legacy Fu
since 2016
6 recorded transactions
Zoning & alternative use
CC · Tempe, AZ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The CC district fosters employment and livability in Tempe City Center, generally bounded by the Town Lake to the North, the railroad tracks to the West, University Drive to the South and rural road to the East, by providing retail, offices, moderate and high density residential uses, entertainment, civic uses, and cultural exchange in a mixed use environmen…
Zone name
City Center
General category
MIXED_USE
Zone area
107.99 ac
Source
Realmo
Top alternative use upside
Auto repair, garage
$2.1M
+30.5%
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 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
AUTO REPAIR, GARAGE
$2,070,000
Change: +31% · Conversion: Difficult
Blend value · Realmo final
$2.88M
Range $2.59M – $3.16M · ±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
$955 / 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
$257,207
Assessed 2024
Previous assessed
$216,780
+18.6% YoY
Land market value
$1,221,300
Improvement market value
$493,410
Total market value
$1,714,710
Applied tax rate
31,600.0000
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
Grocery and convenience stores
Use group
GROCERY, SUPERMARKET
Status
Off-Market
Year built
1943
Construction
CONCRETE
Heating
FORCED AIR
Cooling
CENTRAL
Buildings
2
Stories
1
Units
2
Total area
3,010 SF
Lot
0.44 ac (18,994 SF)
Zoning code
CC
APN
132-45-013C
UPID
US07-1293355
Jurisdiction
MARICOPA
Zoning & alternative use
CC · Tempe, AZZoning CC · permitted uses
CC · Tempe, AZ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The CC district fosters employment and livability in Tempe City Center, generally bounded by the Town Lake to the North, the railroad tracks to the West, University Drive to the South and rural road to the East, by providing retail, offices, moderate and high density residential uses, entertainment, civic uses, and cultural exchange in a mixed use environment that supports the public investment in transit and other public facilities and services. This district may also be considered mixed use when the design provides a mix of uses for the purposes of implementing the General Plan Land Use.
Zone name
City Center
General category
MIXED_USE
Zone area
107.99 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
AUTO REPAIR, GARAGE
Est. value
$2.1M
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
1943
Construction
CONCRETE
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
2
Units
2
Lot
0.44 ac
Current owner
From public records · entity-resolved
University Christian Legacy Fu
Individual
Mailing address
1034 S ML AVE, TEMPE, AZ 85281-5606
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2016
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
Aug 19, 2020
—
1034 S Mill Ave LLC
—
Deed
related
$333,860 · Midfirst Bank
Jul 12, 2016
—
University Christian Legacy Fu
Campus Christian Center
Warranty Deed
—
Aug 31, 2015
$1,250,000
Campus Christian Center LLC
Lutheran Ch Extension Fund
Warranty Deed
$942,455 · Lutheran Church Extension Fund
Aug 29, 2012
—
Church Extension Fund Lutheran
Pacific Southwest District Of Lut
Trustees Deed
related
—
Jul 11, 2012
—
Church Extension Fund Lutheran
Pacific Southwest District Of Lut
Deed In Lieu Of Foreclosure
related
—
—
—
Southwest District Pacific
—
Deed Of Trust
related
$380,281 · Lutheran Church Extension Fund
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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