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Property profile & analytics
OFF-MARKET
Estimated value
$2,390,000
Strip malls
220 Southern Ave, Phoenix, AZ 85040-3034
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US07-0367418
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1999
Construction
CONCRETE
Total area
11,481 SF
Lot
1.6 ac (69,831 SF)
Zoning code
C-2
APN
113-43-059
UPID
US07-0367418
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
-
Top Dawg Barber Shop Barber Shop
-
Michael Reed Barber Shop
-
Rapid Wash Laundry (Bike/Boat/Book/etc) Store
-
Complete Vision Care, PLLC Physician
-
Next To You Storage Units Storage Facility
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$2.64M
Comparable Approach
Comparable
$3.32M
Blend (final)
Blend
$2.39M
Owner & transaction history
Nass 220 LLC · 2 yrs held
Nass 220 LLC
since 2023
Last sale
$1.6M
1 recorded transaction
Zoning & alternative use
C-2 · Phoenix, AZ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$3.4M
+17.1%
Warehouse, storage
$3.1M
+5.8%
Medical building
$3.1M
+4.3%
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 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
$1,555,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$2,850,000
6.5%
$2,635,000
7%
$2,445,000
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$2,920,000
Current use
RETAIL STORES
$3,420,000
Change: +17% · Conversion: Easy
WAREHOUSE, STORAGE
$3,090,000
Change: +6% · Conversion: Difficult
MEDICAL BUILDING
$3,050,000
Change: +4% · Conversion: Difficult
Blend value · Realmo final
$2.39M
Range $2.15M – $2.63M · ±10% · vs last sale $1.58M (Nov 30 2023)
Last sale anchor
$1.58M
Nov 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
$208 / 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
$39,594
Tax year 2023
Assessed value
$440,367
Assessed 2024
Previous assessed
$355,368
+23.9% YoY
Effective rate
8.99%
On assessed value
Land market value
$620,900
Improvement market value
$2,047,989
Total market value
$2,668,889
Applied tax rate
661,300.0000
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
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
Off-Market
Year built
1999
Construction
CONCRETE
Heating
PACKAGE
Cooling
YES
Buildings
2
Stories
1
Units
2
Total area
11,481 SF
Lot
1.6 ac (69,831 SF)
Zoning code
C-2
APN
113-43-059
UPID
US07-0367418
Jurisdiction
MARICOPA
Zoning & alternative use
C-2 · Phoenix, AZ
Zoning C-2 · permitted uses
C-2 · 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
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$2.9M
RETAIL STORES
Est. value
$3.4M
WAREHOUSE, STORAGE
Est. value
$3.1M
MEDICAL BUILDING
Est. value
$3.1M
NEIGHBORHOOD: SHOPPING CENTER Current
RETAIL STORES
WAREHOUSE, STORAGE
MEDICAL 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
1999
Construction
CONCRETE
Heating
PACKAGE
Cooling
Yes
Stories
1
Buildings
2
Units
2
Lot
1.6 ac
Current owner
From public records · entity-resolved
Nass 220 LLC
Entity
Mailing address
722 W SOUTHERN AVE, PHOENIX, AZ 85041-4744
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
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 30, 2023
$1,580,000
Nass 220 LLC
Happy Mates INC
Special Warranty Deed
$900,000 · Happy Mates 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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