Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    11846 28th Dr Phoenix, AZ 85029

    • Retail space
    • 3,600 SF
    • 0.52 lot acres
    OFF-MARKET
    Last Sale
    Mar 22, 2021
    $1,130,000
    Value Estimations
    $1,170,000
    Show details
    Cap Rate Potential
    4.7%
    Retail space
    Location Intelligence
    Property ID
    US07-2499499
    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.

    Current Use by Public Records

    • Cactus rd. / Campground & RV Park

    Property Details for 11846 28th Dr

    Year built
    1979
    Construction
    CONCRETE
    Lot size
    0.52 lot acres
    Property size
    3,600 SF
    Zone code
    C-1
    Property type
    Retail space
    APN
    149-20-175
    APU
    14920175

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $875,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,620,000
      Market price range: $413k - $1.95M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $1,075,000
      Current use
      AUTO REPAIR, GARAGE
      $1,520,000
      Change: +42% Conversion: Difficult
      MEDICAL BUILDING
      $955,000
      Change: -11% Conversion: Difficult
      WAREHOUSE, STORAGE
      $935,000
      Change: -13% Conversion: Difficult
      NEIGHBORHOOD: SHOPPING CENTER
      $915,000
      Change: -15% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Phoenix
    County
    Maricopa
    State
    Arizona
    Longitude
    -112.12
    Latitude
    33.5953
    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
    $12,706
    $0.00
    $0.00
    $172,737
    -
    $645,800
    $401,088
    $1,046,888

    Comparable in this City

    • Value Estimation by Request
      1,159 SF

      3437 Cactus Rd

      RETAIL STORES (PERSONAL SERVICES) • 1,159 SF
      3437 Cactus Rd, Phoenix, AZ 85029-2223
      View Details
    • Value Estimation
      $1,060,000
      5,244 SF

      3425 Peoria Ave

      RETAIL STORES (PERSONAL SERVICES) • 5,244 SF
      3425 Peoria Ave, Phoenix, AZ 85029-4606
      View Details
    • Value Estimation
      $955,000
      1,752 SF

      3135 Peoria Ave

      RETAIL STORES (PERSONAL SERVICES) • 1,752 SF
      3135 Peoria Ave, Phoenix, AZ 85029-5207
      View Details
    • Value Estimation
      $795,000
      5,251 SF

      3424 Peoria Ave

      RETAIL STORES (PERSONAL SERVICES) • 5,251 SF
      3424 Peoria Ave, Phoenix, AZ 85029-4607
      View Details
    • Value Estimation
      $1,910,000
      4,664 SF

      1826 Peoria Ave

      RETAIL STORES (PERSONAL SERVICES) • 4,664 SF
      1826 Peoria Ave, Phoenix, AZ 85029-5038
      View Details
    • Value Estimation
      $2,630,000
      8,032 SF

      12025 19th Ave

      RETAIL STORES (PERSONAL SERVICES) • 8,032 SF
      12025 19th Ave, Phoenix, AZ 85029-3524
      View Details

    Similar Nearby for Sale

    • $3,700,000

      Phoenix Retail Building For Sale

      23,010 SF retail building at 35th Ave and Cactus.
      3528 W Cactus Rd, Phoenix, AZ 85029
      View Details
    • $13,802,000
      56,806 SF

      CVS Pharmacy Portfolio: 4 Locations

      High-yield, NNN leasehold investment.
      3560 Peoria Ave, Phoenix, AZ 85029
      View Details
    • Contact for pricing

      Restaurant Space at Metro Commons

      Restaurant space available in high-traffic Phoenix location near I-17.
      3121 W Peoria Ave, Phoenix, AZ 85029
      View Details
    • $2,000,000
      14,537 SF

      Phoenix Retail Strip Center ForSale

      Retail strip center located just off I-17 in Phoenix.
      12654 N 28Th Dr, Phoenix, AZ 85029
      View Details
    • Contact for pricing
      65,573 SF

      Phoenix Office Building For Sale

      Two-story office building in Phoenix's Sunnyslope neighborhood.
      11420 N 19Th Ave, Phoenix, AZ 85029
      View Details
    • Contact for pricing
      56,042 SF

      Phoenix Office Building Near Freeway

      Office building with move-in ready space and freeway access.
      2225 W Peoria Ave, Phoenix, AZ 85029
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      17,192 SF

      Retail Space Available For Rent

      Retail property available for lease in Phoenix, Arizona.
      10617 North 43Rd Ave, Phoenix, AZ 85029
      View Details
    • Contact for pricing
      28,473 SF

      Retail Space Available for Sublease

      Retail space available for sublease in Phoenix, Arizona.
      2728 W Peoria Ave, Phoenix, AZ 85029
      View Details
    • $16 SF/Yr

      Retail Space on 35th Avenue

      Retail spaces available on 35th Avenue with high visibility.
      13615 North 35Th Ave, Phoenix, AZ 85029
      View Details
    • $14 SF/Yr
      16,266 SF

      Phoenix Retail Space for Lease

      Prime Phoenix storefront, multiple units available.
      12416 28Th Dr, Phoenix, AZ 85029
      View Details
    • Contact for pricing
      140,614 SF

      Metro Towne Center Retail Space

      Phoenix Retail Center - 7,579 SF Available
      0 Wswc I-17 & Peoria Ave, Phoenix, AZ 85029
      View Details
    • Contact for pricing
      2,740 SF

      Retail Space Near Peoria Avenue

      Retail spaces available, anchored by Ross Dress For Less.
      10605-10653 N 43Rd Ave, Phoenix, AZ 85029
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    11846 28th Dr
    Phoenix, AZ 85029
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!