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Property profile & analytics
OFF-MARKET
Estimated value
$5,785,000
Strip malls
2829 32nd St, Phoenix, AZ 85008-1264
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US07-0830473
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
2002
Construction
CONCRETE
Total area
22,644 SF
Lot
2.23 ac (97,095 SF)
Zoning code
C-1
APN
120-04-072A
UPID
US07-0830473
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
-
Carniceria Panaderia Guerrero En Phoenix Restaurant
-
Watermill Express Big Box & Wholesale Store
-
Sleep Shop Furniture & Home Goods
-
Friend Tax Services Tax Preparation
-
Panaderia Y Tortilleria LLC Bakery Specialty Food Shop
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$6.06M
Blend (final)
Blend
$5.79M
Owner & transaction history
Thomas & 32nd LLC · 4 yrs held
Thomas & 32nd LLC
since 2021
7 recorded transactions
Zoning & alternative use
C-1 · Phoenix, AZ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$9.6M
+66.0%
Office building
$6.8M
+18.3%
Medical building
$6.0M
+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
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
$5,765,000
Current use
AUTO REPAIR, GARAGE
$9,570,000
Change: +66% · Conversion: Difficult
OFFICE BUILDING
$6,820,000
Change: +18% · Conversion: Moderate
MEDICAL BUILDING
$6,010,000
Change: +4% · Conversion: Difficult
WAREHOUSE, STORAGE
$5,875,000
Change: +2% · Conversion: Difficult
RETAIL STORES
$5,450,000
Change: -5% · Conversion: Easy
Blend value · Realmo final
$5.79M
Range $5.21M – $6.36M · ±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
$255 / 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
$52,238
Tax year 2023
Assessed value
$729,948
Assessed 2024
Previous assessed
$650,726
+12.2% YoY
Effective rate
7.16%
On assessed value
Land market value
$1,651,000
Improvement market value
$2,772,929
Total market value
$4,423,929
Applied tax rate
141,300.0000
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
2002
Construction
CONCRETE
Heating
PACKAGE
Cooling
YES
Stories
1
Total area
22,644 SF
Lot
2.23 ac (97,095 SF)
Zoning code
C-1
APN
120-04-072A
UPID
US07-0830473
Jurisdiction
MARICOPA
Zoning & alternative use
C-1 · Phoenix, AZ
Zoning C-1 · permitted uses
C-1 · 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
$5.8M
AUTO REPAIR, GARAGE
Est. value
$9.6M
OFFICE BUILDING
Est. value
$6.8M
MEDICAL BUILDING
Est. value
$6.0M
WAREHOUSE, STORAGE
Est. value
$5.9M
RETAIL STORES
Est. value
$5.5M
NEIGHBORHOOD: SHOPPING CENTER Current
AUTO REPAIR, GARAGE
OFFICE BUILDING
MEDICAL BUILDING
WAREHOUSE, STORAGE
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
2002
Construction
CONCRETE
Heating
PACKAGE
Cooling
Yes
Stories
1
Lot
2.23 ac
Current owner
From public records · entity-resolved
Thomas & 32nd LLC
Entity
Mailing address
3925 W ADAMS ST STE #1, PHOENIX, AZ 85009-4617
Ownership since
2021
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
Mar 18, 2022
—
Thomas & 32nd LLC
—
Deed
related
$750,000 · Zb NA
Oct 4, 2021
—
Thomas & 32nd LLC
Venancio Macias
Warranty Deed
$750,000 · Zb NA
Nov 17, 2017
—
Venancio Macias
—
Deed
related
$500,000 · Private Individual
Sep 29, 2017
—
Venancio Macias
—
Deed
related
$1,004,000 · T Bank NA
—
—
Venancio Macias
—
Deed Of Trust
related
$1,966,800 · Zions First National Bank
—
—
Venancio Macias
—
Deed Of Trust
related
$500,000 · Prestamos Cdfi LLC
—
—
Venancio Macias
—
Deed Of Trust
related
$500,000 · Private Individual
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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