Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    3131 Thomas Rd Phoenix, AZ 85016-8015

    • Specialty properties
    • 3,315 SF
    • 0.65 lot acres
    OFF-MARKET
    Value Estimations
    $1,355,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US07-2662527
    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

    • St. Mary’s Food Bank - Phoenix Neighborhood Food Center / Charitable Organization / Social Service Agency
    • Animal Care Hospital of Phoenix / Pet Grooming Service
    • Animal Care Hospital: Halver Mark S DVM / Veterinary Clinic
    • Animal Care Hospital: Temple Tara-Lynn DVM / Veterinary Clinic
    • St. Mary's Food Bank - Phoenix Food Distribution / Food Bank / Charitable Organization

    Property Details for 3131 Thomas Rd

    Year built
    1973
    Construction
    CONCRETE
    Lot size
    0.65 lot acres
    Property size
    3,315 SF
    Zone code
    C-C
    Property type
    Specialty properties
    APN
    120-23-062F
    APU
    12023062F

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,352,000
      Market price range: $506k - $1.35M
      AI Estimate
      $1,352,000
      Market price range: $506k - $1.35M

    • Alternative Use

      Use
      Estimation
      VETERINARY, ANIMAL HOSPITAL
      $875,000
      Current use
      AUTO REPAIR, GARAGE
      $1,400,000
      Change: +60% Conversion: Difficult
      RETAIL STORES
      $920,000
      Change: +5% Conversion: Difficult
      MEDICAL BUILDING
      $880,000
      Change: +1% Conversion: Difficult
      OFFICE BUILDING
      $860,000
      Change: -2% Conversion: Difficult
      WAREHOUSE, STORAGE
      $860,000
      Change: -2% Conversion: Difficult
      NEIGHBORHOOD: SHOPPING CENTER
      $845,000
      Change: -4% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Phoenix
    County
    Maricopa
    State
    Arizona
    Longitude
    -112.014
    Latitude
    33.4799
    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
    $12,757
    $0.00
    $0.00
    $199,430
    -
    $557,300
    $651,366
    $1,208,666

    Comparable in this City

    • Value Estimation by Request
      6,926 SF

      4538 16th St

      CREMATORIUM, MORTUARY • 6,926 SF
      4538 16th St, Phoenix, AZ 85016-5304
      View Details
    • Value Estimation
      $16,915,000
      5,146 SF

      1845 Ocotillo Rd

      PROFESSIONAL CLUBS/ASSOCIATIONS • 5,146 SF
      1845 Ocotillo Rd, Phoenix, AZ 85016-1150
      View Details
    • Value Estimation by Request
      932 SF

      5835 16th St

      VETERINARY, ANIMAL HOSPITAL • 932 SF
      5835 16th St, Phoenix, AZ 85016-2534
      View Details
    • Value Estimation by Request
      16,042 SF

      2833 Glenrosa Ave

      CHARITABLE ORGANIZATION • 16,042 SF
      2833 Glenrosa Ave, Phoenix, AZ 85016
      View Details
    • Value Estimation
      $26,925,000
      841 SF

      6315 16th St

      PROFESSIONAL CLUBS/ASSOCIATIONS • 841 SF
      6315 16th St, Phoenix, AZ 85016-1538
      View Details
    • Value Estimation
      $860,000
      4,974 SF

      3501 24th St

      PROFESSIONAL CLUBS/ASSOCIATIONS • 4,974 SF
      3501 24th St, Phoenix, AZ 85016-6607
      View Details

    Similar Nearby for Sale

    • $865,000

      Midtown Phoenix Industrial Office

      Industrial office space for sale in central Phoenix.
      4309 N 16Th St, Phoenix, AZ 85016
      View Details
    • 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
    • $2,400,000
      0.80 Acres

      Biltmore Land Opportunity in Phoenix

      Rare chance to build a dream estate in Biltmore.
      5516 N 24Th St, Phoenix, AZ 85016
      View Details
    • $2,200,000
      0.69 Acres

      Prime Phoenix Multi-Tenant Investment

      High-yield C-2 property, excellent location.
      3602 16Th St, Phoenix, AZ 85016
      View Details
    • $4,256,775
      18,919 SF

      Biltmore Office Plaza: Phoenix Investment

      18,919 SF Office Building, Excellent Leaseback Opportunity
      2942 24Th St, Phoenix, AZ 85016
      View Details
    • $995,000

      Creative Space with Patio

      Open creative space with a patio available for sale.
      3123 E Thomas Rd, Phoenix, AZ 85016
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Esplanade III

      Discover many ways to work your way in Esplanade III
      2415 Camelback Rd, Phoenix, AZ 85016
      View Details
    • Contact for pricing

      AZ, Phoenix - E Camelback Rd

      Discover many ways to work your way in AZ, Phoenix - E Camelback Rd
      2701 Camelback Rd, Phoenix, AZ 85016
      View Details
    • Contact for pricing

      AZ, Phoenix - 24th and Camelback

      Discover many ways to work your way in AZ, Phoenix - 24th and Camelback
      2375 Phoenix, Phoenix, AZ 85016
      View Details
    • Contact for pricing

      Urban Retail Space Near Camelback

      Retail, restaurant, or office space in Phoenix's Camelback Corridor.
      4515 N 16Th St, Phoenix, AZ 85016
      View Details
    • Contact for pricing

      Arcadia/Biltmore Medical Office Space

      Medical office space with tenant improvements and signage available.
      3102-3104 E Indian School Rd, Phoenix, AZ 85016
      View Details
    • Contact for pricing
      14,180 SF

      Office Space with Balcony

      Office space featuring a balcony, reception, and multiple rooms.
      2555 E Camelback Rd, Phoenix, AZ 85016
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    3131 Thomas Rd
    Phoenix, AZ 85016-8015
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!