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    1838 Bell Rd Phoenix, AZ 85023-3480
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    Property profile & analytics

    1838 Bell Rd Phoenix, AZ 85023-3480

    View on Map
    • Strip malls
    • 17,365 SF
    • 1.51 lot acres
    For Lease
    $5,690,000
    View Listing →
    Retail Space Near Bell Road For Lease
    $5,690,000
    2,150 SF

    Retail Space Near Bell Road

    Retail space available near Bell Road in Phoenix, Arizona.

    1838 W Bell Rd, Phoenix, AZ
    View Listing
    Property ID
    US07-1290670
    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.
    Value Estimations
    $5,690,000
    Cap Rate Potential
    5.5%
    Strip malls
    Location Intelligence

    Current Use by Public Records

    • Phoenix Home Window Tinting / Interior Design / Auto Repair Shop
    • NAILS Studio / Nail Salon
    • Eyeglass World / Physician
    • Maryam Beyramian / Dental Office
    • Nabil Fehmi / Medical Clinic

    Property Details for 1838 Bell Rd

    Year built
    2008
    Construction
    CONCRETE
    Lot size
    1.51 lot acres
    Property size
    17,365 SF
    Zone code
    C-3
    Property type
    Strip malls
    Property subtype
    Shopping centers
    APN
    208-08-589
    APU
    20808589

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $4,740,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $4,315,000
      6.5%
      $3,980,000
      7%
      $3,695,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $6,366,000
      Market price range: $2.03M - $7.99M
      AI Estimate
      $5,777,000
      Market price range: $1.88M - $7.13M

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $4,420,000
      Current use
      RESTAURANT
      $9,275,000
      Change: +110% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $7,340,000
      Change: +66% Conversion: Difficult
      OFFICE BUILDING
      $5,210,000
      Change: +18% Conversion: Moderate
      RETAIL STORES
      $5,175,000
      Change: +17% Conversion: Easy
      MEDICAL BUILDING
      $4,610,000
      Change: +4% Conversion: Difficult
      WAREHOUSE, STORAGE
      $4,505,000
      Change: +2% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Phoenix
    County
    Maricopa
    State
    Arizona
    Longitude
    -112.099
    Latitude
    33.6406
    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
    $45,258
    $0.00
    $0.00
    $766,396
    -
    $1,898,400
    $2,746,425
    $4,644,825

    Comparable in this City

    • Value Estimation
      $1,190,000
      9,800 SF

      1820 Thunderbird Rd

      SHOPPING CENTER, STRIP CENTER • 9,800 SF
      1820 Thunderbird Rd, Phoenix, AZ 85023-6300
      View Details
    • Value Estimation by Request
      71,050 SF

      1818 Bell Rd

      SHOPPING CENTER, STRIP CENTER • 71,050 SF
      1818 Bell Rd, Phoenix, AZ 85023-3426
      View Details
    • Value Estimation
      $3,385,000
      13,771 SF

      1744 Bell Rd

      SHOPPING CENTER, STRIP CENTER • 13,771 SF
      1744 Bell Rd, Phoenix, AZ 85023-3414
      View Details
    • Value Estimation by Request
      2,440 SF

      1855 Greenway Rd

      SHOPPING CENTER, STRIP CENTER • 2,440 SF
      1855 Greenway Rd, Phoenix, AZ 85023-3475
      View Details
    • Value Estimation
      $3,950,000
      28,800 SF

      1712 Bell Rd

      SHOPPING CENTER, STRIP CENTER • 28,800 SF
      1712 Bell Rd, Phoenix, AZ 85023-3414
      View Details
    • Value Estimation
      $3,350,000
      18,480 SF

      1920 Thunderbird Rd

      SHOPPING CENTER, STRIP CENTER • 18,480 SF
      1920 Thunderbird Rd, Phoenix, AZ 85023-6311
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Phoenix Strip Center For Sale

      Strip center with high visibility and regional access.
      1838 W Bell Rd, Phoenix, AZ 85023
      View Details
    • $949,500
      3,798 SF

      Freestanding Pad Building Opportunity

      Freestanding pad building with patio space available for sale.
      1546 W Bell Rd, Phoenix, AZ 85023
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      Nightingale on 25th Apartments

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      Phoenix Land Parcel For Sale

      Land parcel available in Phoenix, Arizona.
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    • $999,000

      27 Acres Development Opportunity

      27 acres in Moon Valley, Phoenix, development opportunity.
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    Similar Nearby for Lease

    • Contact for pricing

      Grocery Anchored Shopping Center Space

      Retail space in a busy Phoenix shopping center.
      18402 N 19Th Ave, Phoenix, AZ 85023
      View Details
    • Contact for pricing

      North Phoenix Retail Space Available

      Rare vacancy in busy strip center near Thunderbird High School.
      13803 N 19Th Ave, Phoenix, AZ 85023
      View Details
    • $1,067 /Mo
      12,120 SF

      Phoenix Retail Space For Rent

      Retail space available for lease in Phoenix, Arizona.
      13803 N 19Th Ave N 13825, Phoenix, AZ 85023
      View Details
    • Contact for pricing
      6,333 SF

      Retail Space in Dense Location

      Retail property with drive-thru, located near Walmart Supercenter.
      1735 W Bell Rd, Phoenix, AZ 85023
      View Details
    • Contact for pricing

      Retail Space For Lease

      Retail space available for lease in Phoenix, Arizona.
      17220 N 19Th Ave, Phoenix, AZ 85023
      View Details
    View Listing
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    Phoenix, AZ 85023-3480
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    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
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