Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2346 Mcdowell Rd Phoenix, AZ 85006-2440

    • Drive through restaurants
    • 3,026 SF
    • 0.45 lot acres
    OFF-MARKET
    Value Estimations
    $2,445,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US07-0651553
    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.

    Current Use by Public Records

    • Wendy's / Restaurant / Take-out & Catering

    Property Details for 2346 Mcdowell Rd

    Year built
    1978
    Construction
    STEEL FRAME
    Lot size
    0.45 lot acres
    Property size
    3,026 SF
    Zone code
    C-C
    Property type
    Drive through restaurants
    APN
    117-10-003D
    APU
    11710003D

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $2,506,000
      Market price range: $786k - $2.51M
      AI Estimate
      $2,378,000
      Market price range: $664k - $2.40M

    • Alternative Use

      Use
      Estimation
      RESTAURANT
      $1,615,000
      Current use
      COMMERCIAL (GENERAL)
      $2,105,000
      Change: +30% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Phoenix
    County
    Maricopa
    State
    Arizona
    Longitude
    -112.031
    Latitude
    33.4661
    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
    $15,426
    $0.00
    $0.00
    $268,818
    -
    $969,400
    $659,800
    $1,629,200

    Comparable in this City

    • Value Estimation
      $895,000
      2,480 SF

      731 Mcdowell Rd

      DRIVE-THRU RESTAURANT, FAST FOOD • 2,480 SF
      731 Mcdowell Rd, Phoenix, AZ 85006
      View Details
    • Value Estimation
      $7,100,000
      10,770 SF

      819 7th St

      DRIVE-THRU RESTAURANT, FAST FOOD • 10,770 SF
      819 7th St, Phoenix, AZ 85006-3209
      View Details
    • Value Estimation by Request
      1,101 SF

      1921 Mcdowell Rd

      DRIVE-THRU RESTAURANT, FAST FOOD • 1,101 SF
      1921 Mcdowell Rd, Phoenix, AZ 85006-3054
      View Details
    • Value Estimation by Request
      286 SF

      924 Roosevelt St

      DRIVE-THRU RESTAURANT, FAST FOOD • 286 SF
      924 Roosevelt St, Phoenix, AZ 85006-3255
      View Details
    • Value Estimation
      $865,000
      2,828 SF

      1621 Van Buren St

      DRIVE-THRU RESTAURANT, FAST FOOD • 2,828 SF
      1621 Van Buren St, Phoenix, AZ 85006-3737
      View Details
    • Value Estimation
      $1,010,000
      2,692 SF

      1601 Van Buren St

      DRIVE-THRU RESTAURANT, FAST FOOD • 2,692 SF
      1601 Van Buren St, Phoenix, AZ 85006-3737
      View Details

    Similar Nearby for Sale

    • $995,000
      4,340 SF

      Turnkey Bakery with Extensive FF&E

      Bakery with ovens, freezer, refrigerator, and immediate highway access.
      1915 N 16Th St, Phoenix, AZ 85006
      View Details
    • $1,500,000
      2,410 SF

      Freestanding Corner Building in Phoenix

      Iconic building suitable for retail, restaurant, or creative office.
      1201 East Van Buren St, Phoenix, AZ 85006
      View Details
    • Contact for pricing
      4,957 SF

      Turn Key Office Space

      Office space with McDowell road frontage in Downtown Phoenix.
      1641 E Mcdowell Rd, Phoenix, AZ 85006
      View Details
    • Contact for pricing
      3,250 SF

      Freestanding Building with Cell Tower

      Retail building with cell tower income and convenient location.
      703 N 20Th St, Phoenix, AZ 85006
      View Details
    • $1,833,333
      6,126 SF

      Retail Property with McDowell Frontage

      Retail property featuring easy access and central location.
      1708-1716 E Mcdowell Rd, Phoenix, AZ 85006
      View Details
    • Contact for pricing
      7,200 SF

      Retail Building on McDowell Road

      End-cap retail building with high traffic and excellent frontage.
      1928 E Mcdowell Rd, Phoenix, AZ 85006
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      2,667 SF

      Freestanding Drive-Thru Opportunity

      Freestanding drive-thru building available for ground lease or build-to-suit.
      8601 N 7Th St, Phoenix, AZ 85006
      View Details
    • Contact for pricing
      73,529 SF

      Prime Pad Sites For Lease

      Pad sites available for ground lease near I-10 and DTPHX.
      1602-1650 E Roosevelt St, Phoenix, AZ 85006
      View Details
    • $1,250 /Mo
      12,692 SF

      Phoenix Retail Space For Lease

      Retail spaces available for lease in Phoenix, Arizona.
      1710 N 16Th St, Phoenix, AZ 85006
      View Details
    • Contact for pricing
      19,300 SF

      Phoenix Retail Space For Rent

      Retail space with fenced yard and roll-up doors available for rent.
      8935 North 7Th St, Phoenix, AZ 85006
      View Details
    • $1,800 /Mo
      206 SF

      Retail Space Near Coronado Neighborhood

      Retail space for rent near the Historical Coronado Neighborhood.
      1710 N 16Th St, Phoenix, AZ 85006
      View Details
    • $12 SF/Yr
      3,700 SF

      Retail Space on McDowell Road

      Retail space with frontage on McDowell Road in Phoenix, Arizona.
      1701 E Mcdowell Rd, Phoenix, AZ 85006
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    2346 Mcdowell Rd
    Phoenix, AZ 85006-2440
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!