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Property profile & analytics
OFF-MARKET
Estimated value
$23,720,000
Outlet malls
19205 27th Ave, Phoenix, AZ 85027-5034
Individually Owned
13-yr Hold
~
Est. High Equity
Property ID
US07-3282116
Property profile
Verified
Property type
Outlet malls
Use group
WHOLESALE OUTLET, DISCOUNT STORE
Year built
2003
Construction
CONCRETE
Total area
48,210 SF
Lot
4.53 ac (197,351 SF)
Zoning code
PCD
APN
209-15-006B
UPID
US07-3282116
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
-
Sportsman's Warehouse (Bike/Boat/Book/etc) Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$23.90M
Blend (final)
Blend
$23.72M
Owner & transaction history
Spirit Spe Portfolio 2012-4 Ll · 13 yrs held
Spirit Spe Portfolio 2012-4 Ll
since 2012
6 recorded transactions
Zoning & alternative use
PCD · Phoenix, AZ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$33.6M
+133.7%
Restaurant
$25.7M
+79.2%
Auto repair, garage
$20.4M
+41.8%
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 Phoenix submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Phoenix 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
RETAIL STORES
$14,365,000
Current use
COMMERCIAL (GENERAL)
$33,575,000
Change: +134% · Conversion: Easy
RESTAURANT
$25,745,000
Change: +79% · Conversion: Easy
AUTO REPAIR, GARAGE
$20,370,000
Change: +42% · Conversion: Difficult
OFFICE BUILDING
$17,895,000
Change: +25% · Conversion: Easy
Blend value · Realmo final
$23.72M
Range $21.35M – $26.09M · ±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
$492 / 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
$120,017
Tax year 2023
Assessed value
$2,509,121
Assessed 2024
Previous assessed
$1,312,111
+91.2% YoY
Effective rate
4.78%
On assessed value
Land market value
$10,212,900
Improvement market value
$4,993,893
Total market value
$15,206,793
Applied tax rate
971,300.0000
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
Off-Market
Year built
2003
Construction
CONCRETE
Heating
PACKAGE
Cooling
YES
Stories
1
Total area
48,210 SF
Lot
4.53 ac (197,351 SF)
Zoning code
PCD
APN
209-15-006B
UPID
US07-3282116
Jurisdiction
MARICOPA
Zoning & alternative use
PCD · Phoenix, AZ
Zoning PCD · permitted uses
PCD · Phoenix, AZ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Phoenix. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$14.4M
COMMERCIAL (GENERAL)
Est. value
$33.6M
RESTAURANT
Est. value
$25.7M
AUTO REPAIR, GARAGE
Est. value
$20.4M
OFFICE BUILDING
Est. value
$17.9M
RETAIL STORES Current
COMMERCIAL (GENERAL)
RESTAURANT
AUTO REPAIR, GARAGE
OFFICE BUILDING
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
2003
Construction
CONCRETE
Heating
PACKAGE
Cooling
Yes
Stories
1
Lot
4.53 ac
Current owner
From public records · entity-resolved
Spirit Spe Portfolio 2012-4 Ll
Individual
Mailing address
PO BOX 35547, TULSA, OK 74153-0547
Ownership since
2012
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
Oct 15, 2012
$7,411,875
Spirit Spe Portfolio 2012-4 Ll
Sportsmans Warehouse INC
Grant Deed
—
May 21, 2004
—
Sportsman Warehouse INC
—
Deed Of Trust
related
$100,000,000 · Cit Group/business Credit Ttee
Mar 23, 2004
$6,509,658
Sportsmans Warehouse INC
G & M Properties LLC
Grant Deed
$4,875,000 · Bridgeview Bank Group
—
—
Sportsmans Warehouse INC
—
Deed Of Trust
related
$75,000,000 · Cit Group Business Credit INC
—
—
Spirit Spe Portfolio 2012-4 Ll
—
Deed Of Trust
related
—
—
—
Sportsmans Warehouse INC
—
Deed Of Trust
related
$75,000 · Cit Group Business Credit INC
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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