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Property profile & analytics
OFF-MARKET
Estimated value
$505,000
Grocery and convenience stores
119 University Dr Tempe, AZ 85281-3639
Entity Owned
Free & Clear
Property ID
US07-1131478
Property profile
Verified
Property type
Grocery and convenience stores
Use group
CONVENIENCE STORE
Year built
1968
Construction
CONCRETE
Total area
4,525 SF
Lot
0.41 ac (17,998 SF)
Zoning code
CC
APN
132-42-014
UPID
US07-1131478
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
-
Universal Low Cost Car Insurance Tempe AZ Insurance Agency
-
Circle K Grocery & Convenience Store
-
Bitcoin Depot | Bitcoin ATM Crypto Atm Atm
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.44M
Blend (final)
Blend
$505k
Owner & transaction history
119 University LLC
119 University LLC
since 2025
Last sale
$1.6M
2 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
$3.1M
+36.9%
Retail stores
$2.4M
+4.9%
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
NEIGHBORHOOD: SHOPPING CENTER
$2,270,000
Current use
AUTO REPAIR, GARAGE
$3,110,000
Change: +37% · Conversion: Difficult
RETAIL STORES
$2,385,000
Change: +5% · Conversion: Easy
Blend value · Realmo final
$505k
Range $455k – $556k · ±10% · vs last sale $1.58M (May 22 2025)
Last sale anchor
$1.58M
May 22 2025
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
$112 / 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 2022Property tax & assessments
Tax year 2022
Tax billed
$23,954
Tax year 2022
Assessed value
$266,129
Assessed 2024
Previous assessed
$207,366
+28.3% YoY
Effective rate
9.00%
On assessed value
Land market value
$1,167,500
Improvement market value
$445,400
Total market value
$1,612,900
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
CONVENIENCE STORE
Status
Off-Market
Year built
1968
Construction
CONCRETE
Heating
PACKAGE
Cooling
YES
Stories
1
Total area
4,525 SF
Lot
0.41 ac (17,998 SF)
Zoning code
CC
APN
132-42-014
UPID
US07-1131478
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
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$2.3M
AUTO REPAIR, GARAGE
Est. value
$3.1M
RETAIL STORES
Est. value
$2.4M
NEIGHBORHOOD: SHOPPING CENTER Current
AUTO REPAIR, GARAGE
RETAIL STORES
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
1968
Construction
CONCRETE
Heating
PACKAGE
Cooling
Yes
Stories
1
Lot
0.41 ac
Current owner
From public records · entity-resolved
119 University LLC
Entity
Free & Clear · 0 yrs held
Mailing address
PO BOX 52085, PHOENIX, AZ 85072-2085
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 22, 2025
$1,575,000
119 University LLC
Circle K Stores INC
Special Warranty Deed
—
Jan 7, 1998
$248,000
Circle K Stores INC
Store Properties Co Trustee
Grant Deed
related
—
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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