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Property profile & analytics
OFF-MARKET
Estimated value
$5,155,000
Drug stores
2921 83rd Ave Phoenix, AZ 85033-4761
Entity Owned
11-yr Hold
Free & Clear
Property ID
US07-0372721
Property profile
Verified
Property type
Drug stores
Use group
DRUG STORE, PHARMACY
Year built
1998
Construction
CONCRETE
Total area
13,968 SF
Lot
2.48 ac (107,898 SF)
Zoning code
C-2
APN
102-72-178
UPID
US07-0372721
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
-
Walgreens Photo (Bike/Boat/Book/etc) Store
-
Walgreens Pharmacy Pharmacy
-
COVID-19 Drive-thru Testing at Walgreens Pharmacy
-
Walgreens Pharmacy
-
Redbox Cinema (Bike/Boat/Book/etc) Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$5.20M
Blend (final)
Blend
$5.16M
Owner & transaction history
Jgnk Invs Arizona LLC Arizo · 11 yrs held
Jgnk Invs Arizona LLC Arizo
since 2015
4 recorded transactions
Zoning & alternative use
C-2 · Phoenix, AZ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The purpose C-2 zone is to provide commercial uses of medium intensity designed to be compatible with each other and to provide for a wide range of types of commercial activity within the district
Zone name
Intermediate Commercial
General category
COMMERCIAL
Zone area
13,095.06 ac
Source
Realmo
Top alternative use upside
Restaurant
$7.5M
+79.2%
Auto repair, garage
$5.9M
+41.8%
Office building
$4.2M
+0.7%
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
RETAIL STORES
$4,160,000
Current use
RESTAURANT
$7,460,000
Change: +79% · Conversion: Easy
AUTO REPAIR, GARAGE
$5,900,000
Change: +42% · Conversion: Difficult
OFFICE BUILDING
$4,190,000
Change: +1% · Conversion: Easy
MEDICAL BUILDING
$3,710,000
Change: -11% · Conversion: Difficult
WAREHOUSE, STORAGE
$3,625,000
Change: -13% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$3,555,000
Change: -15% · Conversion: Moderate
Blend value · Realmo final
$5.16M
Range $4.64M – $5.67M · ±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
$369 / 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
$70,726
Tax year 2023
Assessed value
$545,447
Assessed 2024
Previous assessed
$470,917
+15.8% YoY
Effective rate
12.97%
On assessed value
Land market value
$682,700
Improvement market value
$2,623,037
Total market value
$3,305,737
Applied tax rate
831,300.0000
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
Drug stores
Use group
DRUG STORE, PHARMACY
Status
Off-Market
Year built
1998
Construction
CONCRETE
Heating
PACKAGE
Cooling
YES
Stories
1
Total area
13,968 SF
Lot
2.48 ac (107,898 SF)
Zoning code
C-2
APN
102-72-178
UPID
US07-0372721
Jurisdiction
MARICOPA
Zoning & alternative use
C-2 · Phoenix, AZZoning 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
Zoning description
The purpose C-2 zone is to provide commercial uses of medium intensity designed to be compatible with each other and to provide for a wide range of types of commercial activity within the district
Zone name
Intermediate Commercial
General category
COMMERCIAL
Zone area
13,095.06 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$4.2M
RESTAURANT
Est. value
$7.5M
AUTO REPAIR, GARAGE
Est. value
$5.9M
OFFICE BUILDING
Est. value
$4.2M
MEDICAL BUILDING
Est. value
$3.7M
WAREHOUSE, STORAGE
Est. value
$3.6M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$3.6M
RETAIL STORES Current
RESTAURANT
AUTO REPAIR, GARAGE
OFFICE BUILDING
MEDICAL BUILDING
WAREHOUSE, STORAGE
NEIGHBORHOOD: SHOPPING CENTER
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
1998
Construction
CONCRETE
Heating
PACKAGE
Cooling
Yes
Stories
1
Lot
2.48 ac
Current owner
From public records · entity-resolved
Jgnk Invs Arizona LLC Arizo
Entity
Free & Clear · 11 yrs held
Mailing address
3720 S SUSAN ST STE #100, SANTA ANA, CA 92704-6957
Ownership since
2015
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 5, 2015
$3,070,000
Jgnk Invs Arizona LLC Arizo
Bawden,mark D & Joyce E
Grant Deed
—
Jan 5, 2015
—
Joyce E Bawden
Karwath,richard E
Quit Claim Deed
related
—
Dec 1, 2014
—
Mark D Bawden
Jj Realty LLC
Grant Deed
related
—
Apr 13, 1999
$2,975,000
Jj Realty LLC
Evergreen Desert Sky LP
Grant Deed
$2,010,000 · Protective Life Insurance Co
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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