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Property profile & analytics
OFF-MARKET
Estimated value
$2,540,000
Grocery and convenience stores
3151 Broadway Rd Phoenix, AZ 85040-2723
Entity Owned
9-yr Hold
Free & Clear
Property ID
US07-3281125
Property profile
Verified
Property type
Grocery and convenience stores
Use group
CONVENIENCE STORE
Year built
1988
Construction
STEEL FRAME
Total area
3,049 SF
Lot
1.75 ac (76,279 SF)
Zoning code
CP/GCP
APN
122-59-024A
UPID
US07-3281125
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
-
Redbox Cinema (Bike/Boat/Book/etc) Store
-
Circle K Grocery & Convenience Store
-
Amazon Hub Locker - Exercise Postal Service Courier Service
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.54M
Blend (final)
Blend
$2.54M
Owner & transaction history
City Of Phoenix · 9 yrs held
City Of Phoenix
since 2016
2 recorded transactions
Zoning & alternative use
CP/GCP · Phoenix, AZ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The most flexible option provides for a broad range of manufacturing, warehousing, distribution and supportive retail sales and services
Zone name
General Commerce Park
General category
INDUSTRIAL
Zone area
2,738.84 ac
Source
Realmo
Top alternative use upside
Office building
$1.7M
+122.7%
Commercial (general)
$1.6M
+104.3%
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
OFFICE BUILDING
$1,730,000
Change: +123% · Conversion: Moderate
COMMERCIAL (GENERAL)
$1,585,000
Change: +104% · Conversion: Easy
Blend value · Realmo final
$2.54M
Range $2.29M – $2.79M · ±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
$833 / 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 2022Property tax & assessments
Tax year 2022
Tax billed
$26,288
Tax year 2022
Assessed value
$270,623
Assessed 2024
Previous assessed
$239,137
+13.2% YoY
Effective rate
9.71%
On assessed value
Land market value
$1,333,800
Improvement market value
$336,651
Total market value
$1,670,451
Applied tax rate
661,300.0000
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
Grocery and convenience stores
Use group
CONVENIENCE STORE
Status
Off-Market
Year built
1988
Construction
STEEL FRAME
Heating
HEAT PUMP
Buildings
2
Stories
1
Total area
3,049 SF
Lot
1.75 ac (76,279 SF)
Zoning code
CP/GCP
APN
122-59-024A
UPID
US07-3281125
Jurisdiction
MARICOPA
Zoning & alternative use
CP/GCP · Phoenix, AZZoning CP/GCP · permitted uses
CP/GCP · Phoenix, AZ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The most flexible option provides for a broad range of manufacturing, warehousing, distribution and supportive retail sales and services
Zone name
General Commerce Park
General category
INDUSTRIAL
Zone area
2,738.84 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING
Est. value
$1.7M
COMMERCIAL (GENERAL)
Est. value
$1.6M
OFFICE BUILDING
COMMERCIAL (GENERAL)
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
1988
Construction
STEEL FRAME
Heating
HEAT PUMP
Stories
1
Buildings
2
Lot
1.75 ac
Current owner
From public records · entity-resolved
City Of Phoenix
Entity
Free & Clear · 9 yrs held
Mailing address
PO BOX 460069, ESCONDIDO, CA 92046-0069
Ownership since
2016
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 19, 2016
—
City Of Phoenix
Ri Cs1 LLC
Grant Deed
—
Apr 2, 2004
$950,000
Ri Csi LLC
Circle K Stores INC
Grant Deed
—
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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