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Property profile & analytics
OFF-MARKET
Estimated value
$2,795,000
Outlet malls
2346 Southern Ave Tempe, AZ 85282-7627
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US07-0989015
Property profile
Verified
Property type
Outlet malls
Use group
WHOLESALE OUTLET, DISCOUNT STORE
Year built
1980
Construction
STEEL FRAME
Total area
15,240 SF
Lot
1.25 ac (54,580 SF)
Zoning code
PCC-1
APN
134-41-003T
UPID
US07-0989015
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
-
FX Tactical (Bike/Boat/Book/etc) Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$2.74M
Comparable Approach
Comparable
$3.33M
Blend (final)
Blend
$2.80M
Owner & transaction history
Morley LLC · 4 yrs held
Morley LLC
since 2022
Last sale
$2.6M
7 recorded transactions
Zoning & alternative use
PCC-1 · Tempe, AZ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
$2,300,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$2,960,000
6.5%
$2,735,000
7%
$2,535,000
Blend value · Realmo final
$2.80M
Range $2.52M – $3.07M · ±10% · vs last sale $2.56M (May 31 2022)
Last sale anchor
$2.56M
May 31 2022
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
$183 / 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
$25,878
Tax year 2023
Assessed value
$249,832
Assessed 2024
Previous assessed
$214,506
+16.5% YoY
Effective rate
10.36%
On assessed value
Land market value
$858,900
Improvement market value
$655,234
Total market value
$1,514,134
Applied tax rate
41,600.0000
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
Outlet malls
Use group
WHOLESALE OUTLET, DISCOUNT STORE
Status
Off-Market
Year built
1980
Construction
STEEL FRAME
Heating
PACKAGE
Cooling
YES
Stories
1
Total area
15,240 SF
Lot
1.25 ac (54,580 SF)
Zoning code
PCC-1
APN
134-41-003T
UPID
US07-0989015
Jurisdiction
MARICOPA
Zoning & alternative use
PCC-1 · Tempe, AZ
Zoning PCC-1 · permitted uses
PCC-1 · 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.
Building & site characteristics
From public records
Year built
1980
Construction
STEEL FRAME
Heating
PACKAGE
Cooling
Yes
Stories
1
Lot
1.25 ac
Current owner
From public records · entity-resolved
Morley LLC
Entity
Mailing address
16 N MORLEY AVE, NOGALES, AZ 85621-3114
Ownership since
2022
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
Jun 9, 2022
—
Morley LLC
—
Deed
related
$1,300,500 · Mufg Union Bank NA
May 31, 2022
$2,560,000
Morley LLC
Omnia Investments LLC
Special Warranty Deed
$1,300,500 · Mufg Union Bank NA
May 31, 2022
—
Morley LLC
—
Deed
related
$1,071,000 · Cdc Small Business Finance Corp
Nov 18, 2021
$1,575,000
2346 E Southern LLC
Anna Lise Hansen
Special Warranty Deed
$1,145,000 · Kenwood Mortgage Investments INC
Jun 10, 2016
—
Christensen,tony & Jonna Trust
Christensen,tony M & Jonna
Quit Claim Deed
related
—
Feb 24, 2016
—
Hansen,erik & Anna L Family Trust
Hansen,erik V & Anna L
Quit Claim Deed
related
—
Aug 29, 1996
$1,270,000
Calvary Chapel Of Phoenix
Marion S Alleman
Grant Deed
$1,000,000 · First Santa Clara Corp
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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