New search
Property profile & analytics
OFF-MARKET
Estimated value
$590,000
Turn key restaurants
1038 Ml Ave, Tempe, AZ 85281-5606
Individually Owned
2-yr Hold
Free & Clear
Property ID
US07-1118248
Property profile
Verified
Property type
Turn key restaurants
Use group
RESTAURANT
Year built
1977
Construction
CONCRETE
Total area
3,420 SF
Lot
0.22 ac (9,497 SF)
Zoning code
CC
APN
132-45-015
UPID
US07-1118248
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
-
Chipotle Mexican Grill Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$590k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$590k
Owner & transaction history
Geoffrey P Stowell · 2 yrs held
Geoffrey P Stowell
since 2024
Last sale
$590,000
6 recorded transactions
Zoning & alternative use
CC · Tempe, AZ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
$590,000
ML approach
$590,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$590k
Range $531k – $649k · ±10% · vs last sale $590k (Jun 21 2024)
Last sale anchor
$590k
Jun 21 2024
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
$173 / 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
$16,647
Tax year 2023
Assessed value
$186,863
Assessed 2024
Previous assessed
$186,863
+0.0% YoY
Effective rate
8.91%
On assessed value
Land market value
$611,700
Improvement market value
$520,800
Total market value
$1,132,500
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
Turn key restaurants
Use group
RESTAURANT
Status
Off-Market
Year built
1977
Construction
CONCRETE
Heating
NONE
Stories
1
Total area
3,420 SF
Lot
0.22 ac (9,497 SF)
Zoning code
CC
APN
132-45-015
UPID
US07-1118248
Jurisdiction
MARICOPA
Zoning & alternative use
CC · Tempe, AZ
Zoning CC · permitted uses
CC · Tempe, AZ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Tempe. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1977
Construction
CONCRETE
Heating
NONE
Stories
1
Lot
0.22 ac
Current owner
From public records · entity-resolved
Geoffrey P Stowell
Individual
Free & Clear · 2 yrs held
Mailing address
2424 W RDG RD, ROCKWALL, TX 75087-5116
Ownership since
2024
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
Jun 21, 2024
—
Geoffrey P Stowell
Geoffrey P Stowell
Deed
related
—
Jun 20, 2024
—
Geoffrey P Stowell
Geoffrey P Stowell
Intrafamily Transfer
related
—
Dec 5, 2014
—
Peter A|stowell Patricia P Piper
Piper Kenneth W
Quit Claim Deed
related
—
Nov 20, 2008
—
Kenneth W Piper
Piper,kenneth W & Suzanne J
Quit Claim Deed
related
—
May 2, 1997
$590,000
Kenneth W Piper
John Waterbury
Grant Deed
—
Oct 3, 1996
$375,000
John G Waterbury
Troy E & Judy Neal
Grant Deed
$358,000 · Owens Financial Group
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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