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Property profile & analytics
OFF-MARKET
Estimated value
$3,565,000
Strip malls
149 Farmer Ave Tempe, AZ 85281-3649
Entity Owned
2-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US07-0071241
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1960
Construction
STEEL FRAME
Total area
4,405 SF
Lot
1.37 ac (59,696 SF)
Zoning code
GID
APN
124-32-061A
UPID
US07-0071241
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
-
The Madison Tempe Gym & Fitness Center
-
Yes Appliance Repair Tempe Hardware & Home Improvement HVAC Service
-
Tempe Station (Amtrak) Train Depot
-
24/7 TowTruck Tempe, AZ Auto Repair Shop
-
eWomenNetwork Phoenix/Scottsdale Corporate Office
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$3.63M
Blend (final)
Blend
$3.57M
Owner & transaction history
Farmer Arts Retail LLC · 2 yrs held
Farmer Arts Retail LLC
since 2023
7 recorded transactions
Zoning & alternative use
GID · Tempe, AZ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$3.0M
+36.9%
Retail stores
$2.3M
+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
$2,210,000
Current use
AUTO REPAIR, GARAGE
$3,030,000
Change: +37% · Conversion: Difficult
RETAIL STORES
$2,320,000
Change: +5% · Conversion: Easy
Blend value · Realmo final
$3.57M
Range $3.21M – $3.92M · ±10%
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
$809 / 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
$102,290
Tax year 2023
Assessed value
$1,341,669
Assessed 2024
Previous assessed
$1,112,395
+20.6% YoY
Effective rate
7.62%
On assessed value
Land market value
$423,800
Improvement market value
$7,707,528
Total market value
$8,131,328
Applied tax rate
31,602.0000
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
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
Off-Market
Year built
1960
Construction
STEEL FRAME
Heating
PACKAGE
Cooling
YES
Buildings
6
Stories
1
Units
4
Total area
4,405 SF
Lot
1.37 ac (59,696 SF)
Zoning code
GID
APN
124-32-061A
UPID
US07-0071241
Jurisdiction
MARICOPA
Zoning & alternative use
GID · Tempe, AZ
Zoning GID · permitted uses
GID · 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.
Alternative use value scenarios
Repositioning upside vs current use
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$2.2M
AUTO REPAIR, GARAGE
Est. value
$3.0M
RETAIL STORES
Est. value
$2.3M
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
1960
Construction
STEEL FRAME
Heating
PACKAGE
Cooling
Yes
Stories
1
Buildings
6
Units
4
Lot
1.37 ac
Current owner
From public records · entity-resolved
Farmer Arts Retail LLC
Entity
Mailing address
2801 E CAMELBACK RD STE #450, PHOENIX, AZ 85016-4363
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 12, 2023
$436,247
Farmer Arts Retail LLC
1st & Farmer LLC
Special Warranty Deed
—
Jul 3, 2013
$1,896,452
650 California St L Pivotal
Nshe Bayonne LLC
Grant Deed
—
Jun 28, 2013
$1,900,000
Nshe Bayonne LLC
Greenway Realty Holdings L
Grant Deed
—
Jun 5, 2012
$1,600,000
Greenway Realty Holdings LLC
Dwyer Three LLC
Special Warranty Deed
$2,152,000 · Alerus Financial NA
Sep 25, 2003
$500,000
Richard D Dwyer
Thoren 149 LLC
Quit Claim Deed
$450,000 · Thoren 149 LLC
Jun 11, 1999
—
Thorn-149 LLC
Thoren Trust
Quit Claim Deed
related
—
Mar 17, 1988
—
John C Thoren JR.
—
Deed Of Trust
related
—
—
—
John C Thoren JR.
—
Deed Of Trust
related
$120,000 · Omaha State Bank
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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