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Property profile & analytics
OFF-MARKET
Estimated value
$19,965,000
Strip malls
1721 Warner Rd, Tempe, AZ 85284-4555
Entity Owned
3-yr Hold
Free & Clear
Property ID
US07-0632567
Property summary
AI-generated overview
This exceptional Class A retail opportunity is located in the highly desirable Cobblestone Village shopping center at 1721 E Warner Rd, Tempe, AZ 85284, situated at the prominent intersection of Warner Rd & McClintock Dr. The property offers multiple tenancy options, with two spaces currently available, totaling 1,168 square feet to 3,770 square feet. This vibrant shopping center boasts a substantial 764 parking spaces, ensuring ample convenience for customers. The property is zoned PCC by the City of Tempe and is located in Maricopa County. The strategic location within this established shopping center provides excellent visibility and accessibility, making it an ideal location for a variety of retail businesses. The property's Class A designation reflects its high-quality construction and modern amenities. This is a rare opportunity to secure a prime retail space in a thriving Tempe location. The available space offers significant potential for growth and success in a bustling commercial area. Contact us today to learn more about this exceptional retail opportunity and to schedule a viewing.
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1986
Construction
CONCRETE
Total area
24,809 SF
Lot
7.71 ac (335,935 SF)
Zoning code
PCC-1
APN
308-02-075
UPID
US07-0632567
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
-
Maskadores Taco Shop Restaurant
-
Eva Maurice Counselor
-
Cobblestone Veterinary Care Veterinary Clinic
-
AAA Paint and Supply-Benjamin Moore Hardware & Home Improvement Building Supply
-
Dr. Lee Acupuncture Physician Alternative Medicine Practice
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$20.45M
Blend (final)
Blend
$19.97M
Owner & transaction history
Cobblestone Center LLC · 3 yrs held
Cobblestone Center LLC
since 2023
Last sale
$20.0M
7 recorded transactions
Zoning & alternative use
PCC-1 · Tempe, AZ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$17.3M
+38.8%
Auto repair, garage
$17.1M
+36.9%
Industrial (general)
$13.1M
+5.3%
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
$19,685,000
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
$12,455,000
Current use
RESTAURANT
$17,295,000
Change: +39% · Conversion: Difficult
AUTO REPAIR, GARAGE
$17,055,000
Change: +37% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$13,115,000
Change: +5% · Conversion: Difficult
RETAIL STORES
$13,065,000
Change: +5% · Conversion: Easy
Blend value · Realmo final
$19.97M
Range $17.97M – $21.96M · ±10% · vs last sale $20.00M (Jun 30 2023)
Last sale anchor
$20.00M
Jun 30 2023
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
$805 / 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
$142,472
Tax year 2023
Assessed value
$2,104,978
Assessed 2024
Previous assessed
$1,852,711
+13.6% YoY
Effective rate
6.77%
On assessed value
Land market value
$6,039,000
Improvement market value
$6,718,443
Total market value
$12,757,443
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
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
Off-Market
Year built
1986
Construction
CONCRETE
Heating
PACKAGE
Cooling
YES
Buildings
5
Stories
1
Units
5
Total area
24,809 SF
Lot
7.71 ac (335,935 SF)
Zoning code
PCC-1
APN
308-02-075
UPID
US07-0632567
Jurisdiction
MARICOPA
Zoning & alternative use
PCC-1 · Tempe, AZ
Zoning PCC-1 · permitted uses
PCC-1 · 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
$12.5M
RESTAURANT
Est. value
$17.3M
AUTO REPAIR, GARAGE
Est. value
$17.1M
INDUSTRIAL (GENERAL)
Est. value
$13.1M
RETAIL STORES
Est. value
$13.1M
NEIGHBORHOOD: SHOPPING CENTER Current
RESTAURANT
AUTO REPAIR, GARAGE
INDUSTRIAL (GENERAL)
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
1986
Construction
CONCRETE
Heating
PACKAGE
Cooling
Yes
Stories
1
Buildings
5
Units
5
Lot
7.71 ac
Current owner
From public records · entity-resolved
Cobblestone Center LLC
Entity
Free & Clear · 3 yrs held
Mailing address
1520 W GUADALUPE RD STE #105, GILBERT, AZ 85233-3049
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
12 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 30, 2023
$20,000,000
Cobblestone Center LLC
Ap Capital Reit Cobblestone LP
Special Warranty Deed
—
Nov 30, 2016
$11,200,000
Ap Cap Reit Cobblestone LP
Cobblestone Venture LLC
Grant Deed
$7,450,000 · Ubs Ag
Apr 3, 2012
—
Cobblestone Venture LLC
—
Trustees Deed
related
$3,300,000 · Stearns Bank NA
Sep 3, 2010
$4,800,000
Cobblestone Venture LLC
Smi Cobblestone Village LLC Jm
Grant Deed
—
Mar 16, 2005
$996,581
Jms Cobblestone Exchange LLC
Dsf Phoenix Property LLC
Warranty Deed
—
Mar 16, 2005
$400,073
Asm Cobblestone Exchange LLC
Dsf Phoenix Property LLC
Warranty Deed
—
Nov 12, 2002
$97,000
Jms Cobblestone Exchange LLC
Dsf Phoenix Property LLC
Grant Deed
—
Aug 9, 2000
$809,050
Asm Cobblestone Exchange LLC
Dsf Phoenix Propery LLC
Trustees Deed
—
Aug 9, 2000
$415,070
Asm Cobblestone Exchange LLC
Dsf Phoenix Propery LLC
Trustees Deed
—
Oct 26, 1999
—
Asm Cobblestone Exchange LLC
Dsf Phoenix Property LLC
Trustees Deed
related
—
Jun 8, 1999
—
Smi Cobblestone Village LLC
Smi Phoenix Property LLC
Quit Claim Deed
related
—
Dec 16, 1998
—
Cobblestone Village LP
First American Title Ins Ttee
Trustees 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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