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Property profile & analytics
FOR LEASE
Outlet malls
1275 W Elliot Rd, Tempe, AZ 85284
Entity Owned
~
Est. High Equity
Property ID
US07-1092880
For Lease
1 / 2
$23,335,000
1275 W Elliot Rd, Tempe, AZ 85284
View Listing →
Property profile
Verified
Property type
Outlet malls
Use group
WHOLESALE OUTLET, DISCOUNT STORE
Year built
1990
Construction
CONCRETE
Total area
103,970 SF
Lot
7.46 ac (324,783 SF)
Zoning code
PCC-2
APN
301-53-058
UPID
US07-1092880
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
-
Hitsquad Ninja Gym and Parkour Gym & Fitness Center
-
Mega Graphics Marketing & Advertising Advertising Agency
-
Centerpoint Art Art Gallery Picture Frame Shop
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$18.65M
Comparable Approach
Comparable
$20.58M
Blend (final)
Blend
$23.34M
Owner & transaction history
Tempe Silverrock LLC
Tempe Silverrock LLC
since 2026
Last sale
$27.8M
6 recorded transactions
Zoning & alternative use
PCC-2 · 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
$24,970,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$20,195,000
6.5%
$18,645,000
7%
$17,310,000
Blend value · Realmo final
$23.34M
Range $21.00M – $25.67M · ±10% · vs last sale $27.80M (Jan 11 2022)
Last sale anchor
$27.80M
Jan 11 2022
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
$224 / 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
$140,348
Tax year 2023
Assessed value
$1,541,876
Assessed 2024
Previous assessed
$1,354,305
+13.8% YoY
Effective rate
9.10%
On assessed value
Land market value
$3,893,700
Improvement market value
$5,451,000
Total market value
$9,344,700
Applied tax rate
281,600.0000
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
Outlet malls
Use group
WHOLESALE OUTLET, DISCOUNT STORE
Status
For Lease
Year built
1990
Construction
CONCRETE
Heating
PACKAGE
Cooling
YES
Buildings
2
Stories
1
Units
2
Total area
103,970 SF
Lot
7.46 ac (324,783 SF)
Zoning code
PCC-2
APN
301-53-058
UPID
US07-1092880
Jurisdiction
MARICOPA
Zoning & alternative use
PCC-2 · Tempe, AZ
Zoning PCC-2 · permitted uses
PCC-2 · 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
1990
Construction
CONCRETE
Heating
PACKAGE
Cooling
Yes
Stories
1
Buildings
2
Units
2
Lot
7.46 ac
Current owner
From public records · entity-resolved
Tempe Silverrock LLC
Entity
Mailing address
11601 WILSHIRE BLVD STE #1690, LOS ANGELES, CA 90025-1772
Ownership since
2026
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
Apr 13, 2026
$21,900,000
Tempe Silverrock LLC
Costco Plaza Property LLC
Special Warranty Deed
$17,520,000
Jul 15, 2025
$11,000,000
Costco Wholesale Corporation
Costco Plaza Property LLC
Special Warranty Deed
—
Jan 11, 2022
$27,800,000
Costco Plaza Property LLC
Cp Center 05 E LLC
Special Warranty Deed
$17,000,000 · Tref III Costco Plaza Member LLC
Feb 4, 2016
—
Cp Center 05 A LLC
Cp Center 05 H LLC
Special Warranty Deed
—
Mar 29, 2006
$37,831,924
Cp Center 05 A LLC
Kimco Tempe Shopping Center Ll
Grant Deed
$30,208,000 · General Electric Capital Corp
Jun 24, 2004
$10
Kimo Tempe Shopping Ctr LLC
Centerpoint Associates LLP
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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