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Property profile & analytics
FOR LEASE
Strip malls
315 W Elliot Rd, Tempe, AZ 85284
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US07-0832890
For Lease
1 / 2
$10,475,000
315 W Elliot Rd, Tempe, AZ 85284
View Listing →
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
2004
Construction
CONCRETE
Total area
12,110 SF
Lot
2.07 ac (90,031 SF)
Zoning code
PCC-1
APN
301-52-982
UPID
US07-0832890
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
-
Smart Firearms (Bike/Boat/Book/etc) Store
-
Nad's Chicken & Seafood Restaurant
-
Hyper-Formance Department Store
-
Keep Tempe Beautiful Charitable Organization Social Service Agency
-
Native Diagnostic Imaging Medical Clinic
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$9.98M
Blend (final)
Blend
$10.48M
Owner & transaction history
Tmp Estate LLC · 3 yrs held
Tmp Estate LLC
since 2022
Last sale
$11.3M
7 recorded transactions
Zoning & alternative use
PCC-1 · Tempe, AZ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$8.4M
+38.8%
Auto repair, garage
$8.3M
+36.9%
Industrial (general)
$6.4M
+5.3%
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 Tempe submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Tempe 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
$10,300,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RESTAURANT
$8,440,000
Change: +39% · Conversion: Difficult
AUTO REPAIR, GARAGE
$8,325,000
Change: +37% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$6,400,000
Change: +5% · Conversion: Difficult
RETAIL STORES
$6,375,000
Change: +5% · Conversion: Easy
Blend value · Realmo final
$10.48M
Range $9.43M – $11.52M · ±10% · vs last sale $11.25M (Jul 29 2022)
Last sale anchor
$11.25M
Jul 29 2022
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
$865 / 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
$29,372
Tax year 2023
Assessed value
$520,767
Assessed 2024
Previous assessed
$458,932
+13.5% YoY
Effective rate
5.64%
On assessed value
Land market value
$1,364,800
Improvement market value
$1,791,362
Total market value
$3,156,162
Applied tax rate
281,600.0000
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
For Lease
Year built
2004
Construction
CONCRETE
Heating
PACKAGE
Cooling
YES
Stories
1
Total area
12,110 SF
Lot
2.07 ac (90,031 SF)
Zoning code
PCC-1
APN
301-52-982
UPID
US07-0832890
Jurisdiction
MARICOPA
Zoning & alternative use
PCC-1 · Tempe, AZ
Zoning PCC-1 · permitted uses
PCC-1 · Tempe, AZ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Tempe. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RESTAURANT
Est. value
$8.4M
AUTO REPAIR, GARAGE
Est. value
$8.3M
INDUSTRIAL (GENERAL)
Est. value
$6.4M
RETAIL STORES
Est. value
$6.4M
RESTAURANT
AUTO REPAIR, GARAGE
INDUSTRIAL (GENERAL)
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
2004
Construction
CONCRETE
Heating
PACKAGE
Cooling
Yes
Stories
1
Lot
2.07 ac
Current owner
From public records · entity-resolved
Tmp Estate LLC
Entity
Mailing address
110 DARRELL DR, GLENDALE, CA 91202-1314
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
15 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 29, 2022
$11,250,000
Tmp Estate LLC
Tempe Crossroads LLC
Special Warranty Deed
$5,587,500 · Ready Capital Mortgage Trust 2019 5
Jul 13, 2018
$7,450,000
Tempe Crossroads LLC
Plc Holdings LLC
Trustees Deed
$5,587,500 · Readycap Com'l
Sep 10, 2013
$5,500,000
Plc Holdings LLC
Wfc Kyrene & Eliot LLC
Grant Deed
$4,387,500 · Western State Bank
Sep 19, 2011
$2,900,000
Wfc Kyrene & Eliot LLC
Scheurich,michael R
Trustees Deed
—
Jan 13, 2010
—
Mesa-fontana LLC
Steiner,jerry R & Julie M
Grant Deed
related
—
Dec 31, 2008
—
Mesa-fontana LLC
Botkin Vicki R 1999 Trust
Grant Deed
related
—
Oct 28, 2008
—
Mesa-fontana LLC
Knapek Living Trust
Grant Deed
related
—
May 23, 2007
—
Oflanagan Marcella J 1995
Boyd Jeffrey D & J J Trust
Grant Deed
—
Mar 19, 2007
—
Chapman Family Trust
Folkins Family Trust
Grant Deed
—
Sep 21, 2006
—
Jones David P SR Trust 2005
Jones,david P
Quit Claim Deed
related
—
May 18, 2006
—
Mesa-fontana LLC
Vp Properties LLC
Quit Claim Deed
related
—
Jul 29, 2004
$4,929,100
Mesa-fontana LLC
K & E Partners LLC
Quit Claim Deed
related
—
Jul 29, 2004
$3,945,900
Mesa-fontana LLC
Gvsw Kyrene & Elliot LLC
Grant Deed
$5,765,000 · Greenwich Capital Fin'l INC
Jul 31, 2003
$740,000
K & E Partners LLC
Castle & Cooke Commercial-ca
Grant Deed
$2,100,000 · Bank One NA
—
—
Wfc Kyrene & Eliot LLC
—
Deed Of Trust
related
$2,000,000 · Wfc Value Add Financing Ptrs L
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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