Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$9,745,000
Strip malls
2240 Scottsdale Rd Tempe, AZ 85288-1117
Individually Owned
6-yr Hold
~
Est. High Equity
Property ID
US07-0122055
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1980
Construction
CONCRETE
Total area
19,798 SF
Lot
1.42 ac (61,725 SF)
Zoning code
CSS
APN
129-17-002M
UPID
US07-0122055
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
-
Allstate Insurance Agency
-
Anytime Fitness Gym & Fitness Center
-
Green New American Vegetarian Restaurant
-
Megalife Skin & Beauty Spa & Massage Center Alternative Medicine Practice
-
Polar Bear's Pop Culture Shop Department Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$9.99M
Blend (final)
Blend
$9.75M
Owner & transaction history
Chandler Old Vine Limited Partnersh · 6 yrs held
Chandler Old Vine Limited Partnersh
since 2019
7 recorded transactions
Zoning & alternative use
CSS · Tempe, AZ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$13.8M
+38.8%
Auto repair, garage
$13.6M
+36.9%
Retail stores
$10.4M
+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
$9,940,000
Current use
RESTAURANT
$13,800,000
Change: +39% · Conversion: Difficult
AUTO REPAIR, GARAGE
$13,610,000
Change: +37% · Conversion: Difficult
RETAIL STORES
$10,425,000
Change: +5% · Conversion: Easy
Blend value · Realmo final
$9.75M
Range $8.77M – $10.72M · ±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
$21,463
Tax year 2023
Assessed value
$502,643
Assessed 2024
Previous assessed
$411,332
+22.2% YoY
Effective rate
4.27%
On assessed value
Land market value
$1,463,500
Improvement market value
$1,582,822
Total market value
$3,046,322
Applied tax rate
481,600.0000
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
1980
Construction
CONCRETE
Heating
PACKAGE
Cooling
YES
Stories
1
Total area
19,798 SF
Lot
1.42 ac (61,725 SF)
Zoning code
CSS
APN
129-17-002M
UPID
US07-0122055
Jurisdiction
MARICOPA
Zoning & alternative use
CSS · Tempe, AZ
Zoning CSS · permitted uses
CSS · 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
$9.9M
RESTAURANT
Est. value
$13.8M
AUTO REPAIR, GARAGE
Est. value
$13.6M
RETAIL STORES
Est. value
$10.4M
NEIGHBORHOOD: SHOPPING CENTER Current
RESTAURANT
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
1980
Construction
CONCRETE
Heating
PACKAGE
Cooling
Yes
Stories
1
Lot
1.42 ac
Current owner
From public records · entity-resolved
Chandler Old Vine Limited Partnersh
Individual
Mailing address
1459 S PEARL ST, DENVER, CO 80210-2226
Ownership since
2019
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 19, 2019
$3,500,000
Chandler Old Vine Limited Partnersh
Drof 1 5 LLC
Special Warranty Deed
$2,660,000 · Independent Bank
Dec 24, 2012
$1,425,000
Drof I-5 LLC LLC
2240 North Scottsdale Road
Grant Deed
—
Apr 6, 2010
$1,300,000
North Scottsdale Road Hol 2240
Morris Kevin J
Trustees Deed
related
—
Oct 17, 2006
$2,445,000
Bpre Tempe Scottsdale LLC
Tempe Scottsdale Investors LLC
Grant Deed
—
May 13, 1999
$1,820,000
Tempe Scottsdale Investors LLC
2240 North Scottsdale LLC
Grant Deed
—
Sep 1, 1995
$1,050,000
North Scottsdale L L C 2240
Mutual Casualty Insurance
Grant Deed
$787,500 · Seller
Oct 30, 1987
$2,000,000
Nenap Co
The N
Grant Deed
—
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 2240 Scottsdale Rd?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
