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Property profile & analytics
OFF-MARKET
Estimated value
$895,000
Strip malls
2914 40th St, Phoenix, AZ 85018-7104
Entity Owned
1-yr Hold
~
Est. High Equity
Property ID
US07-0741138
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1959
Construction
CONCRETE
Total area
3,600 SF
Lot
0.29 ac (12,796 SF)
Zoning code
C-2
APN
127-21-060A
UPID
US07-0741138
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
-
Splash Detailing Car Wash
-
Smart Start Ignition Interlock Building Supply General Contractor
-
Cr8ive Auto Style Car Wash
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$825k
Comparable Approach
Comparable
$762k
Blend (final)
Blend
$895k
Owner & transaction history
Plaza 40 LLC · 1 yrs held
Plaza 40 LLC
since 2025
Last sale
$1.0M
7 recorded transactions
Zoning & alternative use
C-2 · Phoenix, AZ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$1.5M
+59.1%
Retail stores
$1.1M
+17.1%
Medical building
$955,000
+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
$1,040,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$895,000
6.5%
$825,000
7%
$765,000
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$915,000
Current use
OFFICE BUILDING
$1,460,000
Change: +59% · Conversion: Moderate
RETAIL STORES
$1,075,000
Change: +17% · Conversion: Easy
MEDICAL BUILDING
$955,000
Change: +4% · Conversion: Difficult
WAREHOUSE, STORAGE
$935,000
Change: +2% · Conversion: Difficult
Blend value · Realmo final
$895k
Range $806k – $985k · ±10% · vs last sale $1.03M (Feb 24 2025)
Last sale anchor
$1.03M
Feb 24 2025
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
$249 / 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
$7,604
Tax year 2023
Assessed value
$91,735
Assessed 2024
Previous assessed
$93,602
-2.0% YoY
Effective rate
8.29%
On assessed value
Land market value
$361,900
Improvement market value
$194,071
Total market value
$555,971
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
1959
Construction
CONCRETE
Heating
PACKAGE
Cooling
YES
Stories
1
Total area
3,600 SF
Lot
0.29 ac (12,796 SF)
Zoning code
C-2
APN
127-21-060A
UPID
US07-0741138
Jurisdiction
MARICOPA
Zoning & alternative use
C-2 · Phoenix, AZ
Zoning C-2 · permitted uses
C-2 · 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
$915,000
OFFICE BUILDING
Est. value
$1.5M
RETAIL STORES
Est. value
$1.1M
MEDICAL BUILDING
Est. value
$955,000
WAREHOUSE, STORAGE
Est. value
$935,000
NEIGHBORHOOD: SHOPPING CENTER Current
OFFICE BUILDING
RETAIL STORES
MEDICAL BUILDING
WAREHOUSE, STORAGE
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
1959
Construction
CONCRETE
Heating
PACKAGE
Cooling
Yes
Stories
1
Lot
0.29 ac
Current owner
From public records · entity-resolved
Plaza 40 LLC
Entity
Mailing address
PO BOX 51029, PHOENIX, AZ 85076-1029
Ownership since
2025
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
Feb 24, 2025
$1,025,000
Plaza 40 LLC
Nta Commercial Properties LLC
Special Warranty Deed
$625,000 · Nta Commercial Properties LLC
Mar 31, 2021
$735,000
Nta Commercial Properties LLC
H Cubed Phx One LLC
Special Warranty Deed
$624,700 · Midfirst Bank
Dec 18, 2019
—
H Cubed Phx One LLC
—
Deed
related
$366,000 · Umb Bank NA
Sep 9, 2016
$580,000
H Cubed Phx One LLC
Spazio Nostro LLC
Special Warranty Deed
$403,000 · Bank 34
Sep 22, 2008
—
Spazio Nostro LLC
Owner Name Unavailable
Grant Deed
related
—
Sep 19, 2008
—
Spazio Nostro LLC
Mark L Sullivan
Special Warranty Deed
$531,000 · Temecula Valley Bank NA
Apr 21, 1987
$275,000
Mark L Sullivan
—
Grant Deed
related
—
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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