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    113 Southern Ave Tempe, AZ 85282-5130
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    Property profile & analytics

    113 Southern Ave, Tempe, AZ 85282-5130

    View on Map
    • Retail space
    • 1,500 SF
    • 7.56 lot acres
    Off-Market
    Last Sale Jun 9, 2023
    $1,642,070
    Property ID
    US07-0172658
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    $1,535,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Nude Wax Bar LLC / Spa & Massage Center / Skin Care Clinic
    • The Luxe Beauty Bar / Spa & Massage Center / Alternative Medicine Practice
    • Muse Studio / Hair Salon
    • Delux Heating & Cooling Tempe / HVAC Service / General Contractor
    • Skyluxx Coffee / Cafe & Coffee Shop

    Property Details for 113 Southern Ave

    Year built
    1964
    Construction
    CONCRETE
    Lot size
    7.56 lot acres
    Zone code
    CSS
    Property type
    Retail space
    APN
    133-40-002M
    APU
    13340002M

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Jun 9, 2023 $1,642,070 South Mill LLC Ec Valley Fair Refi 2016 LLC Special Warranty Deed $14M · Dbr Investments Co
    May 15, 2023 — South Mill 2023 LLC South Mill 2023 LLC Intrafamily Transfer · related —
    Apr 13, 2023 — South Mill 2023 LLC South Mill LLC Intrafamily Transfer · related —
    Jul 6, 2016 — Ec Valley Fair Refi 2016 LLC — Deed · related $11.6M · Deutsche Bank National Trust Co
    Jul 25, 2006 — Springfield Properties LLC Owner Name Unavailable Grant Deed · related —
    Jul 13, 2006 $13,257,949 Springfield Properties LLC Ec Valley Fair LLC Special Warranty Deed $7.8M · Gmac Commercial Mortgage Securities
    Apr 27, 2004 $10,000,000 Ec Valley Fair LLC Carlson Real Estate Co Grant Deed $7.8M · Gmac Commercial Mortgage Corp
    Jun 6, 1995 — Carlson Real Estate Company Carlson Realty Company Quit Claim Deed · related —

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,520,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,432,000
      Market price range: $194k - $1.43M
      AI Estimate
      $1,432,000
      Market price range: $194k - $1.43M

    • Alternative Use

      Use
      Estimation
      AUTO REPAIR, GARAGE
      $1,030,000

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Tempe
    County
    Maricopa
    State
    Arizona
    Longitude
    -111.938
    Latitude
    33.3919
    CBSA code
    38060
    CBSA name
    PHOENIX-MESA-SCOTTSDALE, AZ METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $166,409
    $0.00
    $0.00
    $2,934,443
    -
    $11,338,200
    $6,446,305
    $17,784,505

    Comparable in this City

    • Value Estimation
      $4,430,000
      6,773 SF

      2180 Southern Ave

      RETAIL STORES (PERSONAL SERVICES)
      2180 Southern Ave, Tempe, AZ 85282-7504
      View Details
    • Value Estimation
      $1,660,000
      4,860 SF

      2010 Rural Rd

      RETAIL STORES (PERSONAL SERVICES)
      2010 Rural Rd, Tempe, AZ 85282-1408
      View Details
    • Value Estimation
      $755,000
      2,280 SF

      3400 Ml Ave

      RETAIL STORES (PERSONAL SERVICES)
      3400 Ml Ave, Tempe, AZ 85282-4960
      View Details
    • Value Estimation
      $1,345,000
      3,350 SF

      3414 Ml Ave

      RETAIL STORES (PERSONAL SERVICES)
      3414 Ml Ave, Tempe, AZ 85282-4935
      View Details
    • Value Estimation
      $2,045,000
      12,405 SF

      2710 Roosevelt St

      RETAIL STORES (PERSONAL SERVICES)
      2710 Roosevelt St, Tempe, AZ 85282-2089
      View Details
    • Value Estimation by Request
      3,150 SF

      23 Southern Ave

      RETAIL STORES (PERSONAL SERVICES)
      23 Southern Ave, Tempe, AZ 85282-4962
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      4,574 SF

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      Retail space available near Arizona Mills in Tempe, Arizona.
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      2,061 SF

      Retail Property Near Loop 101

      Retail property with existing building and access to Loop 101.
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      30,000 SF

      Prime Retail Space Available

      30,000 SF retail space in a prime location.
      940 E Baseline Rd, Tempe, AZ 85282
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    • $882,050
      1,495 SF

      Retail Space in Tempe, Arizona

      Retail space available for sale in Tempe, Arizona.
      410 E Southern Ave, Tempe, AZ 85282
      View Details
    • Contact for pricing
      3,230 SF

      Tempe Hard Corner Building

      Hard corner building in Tempe with drive-through and large parking.
      833 W Broadway Rd, Tempe, AZ 85282
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    • Contact for pricing

      Land Available at Arizona Mills

      Land parcel available for ground lease or build to suit.
      1530 W Baseline Rd, Tempe, AZ 85282
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      930 SF

      Tempe Retail Space Available

      Retail spaces available in Tempe, with high visibility.
      3129-3223 S Mill Ave, Tempe, AZ 85282
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    • Contact for pricing
      4,897 SF

      Tempe Retail Space For Rent

      Retail space available in a newly remodeled Tempe shopping center.
      3214-3228 S Mill Ave, Tempe, AZ 85282
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    • Contact for pricing
      2,127 SF

      Retail Space Near ASU

      Retail space in Tempe, close to ASU and Downtown.
      764 W Broadway Rd, Tempe, AZ 85282
      View Details
    • Contact for pricing
      6,630 SF

      Retail Space Near Aldi Grocery

      Retail space available near Aldi Grocery and Arizona State University.
      1715 E Southern Ave, Tempe, AZ 85282
      View Details
    • Contact for pricing
      1,201 SF

      Retail Space Near ASU

      Retail space for lease near Downtown Tempe and ASU.
      764-790 W Broadway Rd, Tempe, AZ 85282
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    • Contact for pricing
      1,277 SF

      Retail Space on Broadway Road

      Retail space in high-traffic Tempe location near ASU.
      1537 W Broadway Rd, Tempe, AZ 85282
      View Details
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    Tempe, AZ 85282-5130
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    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
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