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    Property profile & analytics

    2824 Indian School Rd Phoenix, AZ 85016-6863

    • Grocery and convenience stores
    • 32,979 SF
    • 2.65 lot acres
    OFF-MARKET
    Value Estimations
    $7,590,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US07-0104085
    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

    • Cambridge-Lee Industries Llc / Distribution Center / Logistics Company
    • Keep It Cut - Phoenix / Arcadia / Barber Shop
    • Haus of Vapors Phoenix / (Bike/Boat/Book/etc) Store
    • Sugar Sugar / Hair Salon
    • Sunshine Foot Spa&Massage / Alternative Medicine Practice / Spa & Massage Center

    Property Details for 2824 Indian School Rd

    Year built
    1980
    Construction
    CONCRETE
    Lot size
    2.65 lot acres
    Property size
    32,979 SF
    Zone code
    C-1
    Property type
    Grocery and convenience stores
    APN
    163-02-004
    APU
    16302004

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $7,896,000
      Market price range: $4.18M - $13.8M
      AI Estimate
      $7,283,000
      Market price range: $2.84M - $12.7M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $9,135,000
      Current use
      MEDICAL BUILDING
      $8,755,000
      Change: -4% Conversion: Difficult
      OFFICE BUILDING
      $8,575,000
      Change: -6% Conversion: Easy
      WAREHOUSE, STORAGE
      $8,560,000
      Change: -6% Conversion: Difficult
      NEIGHBORHOOD: SHOPPING CENTER
      $8,395,000
      Change: -8% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Phoenix
    County
    Maricopa
    State
    Arizona
    Longitude
    -112.02
    Latitude
    33.4959
    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
    $67,607
    $0.00
    $0.00
    $1,001,187
    -
    $3,734,300
    $2,333,500
    $6,067,800

    Comparable in this City

    • Value Estimation
      $970,000
      3,006 SF

      3402 16th St

      CONVENIENCE STORE • 3,006 SF
      3402 16th St, Phoenix, AZ 85016-7119
      View Details
    • Value Estimation
      $4,655,000
      5,589 SF

      2250 Thomas Rd

      CONVENIENCE STORE • 5,589 SF
      2250 Thomas Rd, Phoenix, AZ 85016-7826
      View Details
    • Value Estimation
      $845,000
      2,080 SF

      6351 16th St

      CONVENIENCE STORE • 2,080 SF
      6351 16th St, Phoenix, AZ 85016-1509
      View Details
    • Value Estimation
      $4,160,000
      4,995 SF

      1610 Highland Ave

      CONVENIENCE STORE • 4,995 SF
      1610 Highland Ave, Phoenix, AZ 85016-0624
      View Details
    • Value Estimation
      $1,730,000
      2,680 SF

      2401 Indian School Rd

      CONVENIENCE STORE • 2,680 SF
      2401 Indian School Rd, Phoenix, AZ 85016-6736
      View Details
    • Value Estimation
      $4,205,000
      5,044 SF

      2941 Indian School Rd

      CONVENIENCE STORE • 5,044 SF
      2941 Indian School Rd, Phoenix, AZ 85016-6804
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      2,943 SF

      Phoenix Retail NNN Investment Opportunity

      NNN retail property with long-term lease and rental increases.
      2649 W Indian School Rd, Phoenix, AZ 85016
      View Details
    • $5,928,000
      8,009 SF

      Phoenix Retail Space For Sale

      8,009 SF retail space in a high-traffic Phoenix location.
      2002 E Camelback Rd, Phoenix, AZ 85016
      View Details
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      2,246 SF

      Commissary Kitchen and Retail Storefront

      Newly constructed building with kitchen and retail space for sale.
      1944 E Osborn Rd, Phoenix, AZ 85016
      View Details
    • Contact for pricing
      4,485 SF

      Retail Space on Thomas Road

      Retail space available for sale, Phoenix, Arizona.
      3123 E Thomas Rd, Phoenix, AZ 85016
      View Details
    • $3,150,000

      Phoenix Automotive Property For Sale

      Two buildings on a corner lot with high traffic frontage.
      2912 E Thomas Rd, Phoenix, AZ 85016
      View Details
    • $1,542,240
      2,592 SF

      Phoenix Restaurant/Retail Opportunity For Sale

      2520 SF building in a strategic Phoenix location.
      2939 N 24Th St, Phoenix, AZ 85016
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      1,286 SF

      Phoenix Retail Space For Lease

      Multi-tenant retail property in a dominant Phoenix retail corridor.
      2441 E Indian School Rd, Phoenix, AZ 85016
      View Details
    • Contact for pricing
      1,170 SF

      Freestanding Retail PAD Available

      4,172 SF retail space with high-traffic location.
      6102 N 16Th St, Phoenix, AZ 85016
      View Details
    • Contact for pricing
      2,385 SF

      Former Personal Training Studio

      Retail space available in Phoenix, Arizona.
      3003-3045 E Indian School Rd, Phoenix, AZ 85016
      View Details
    • Contact for pricing
      1,015 SF

      Retail Space in Camelback Corridor

      Retail space for rent in a convenient Phoenix location.
      1610-1660 E Camelback Rd, Phoenix, AZ 85016
      View Details
    • Contact for pricing
      7,830 SF

      Phoenix Retail Space For Lease

      Retail space available in a dense Phoenix in-fill location.
      2511 W Indian School Rd, Phoenix, AZ 85016
      View Details
    • Contact for pricing
      1,030 SF

      Retail Space in Lincoln View

      Retail spaces available in neighborhood shopping center, Phoenix, Arizona.
      3113-3159 E Lincoln Dr, Phoenix, AZ 85016
      View Details
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    Phoenix, AZ 85016-6863
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    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
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