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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    3202 Greenway Rd Phoenix, AZ 85032-4548

    • Strip malls
    • 0.76 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US07-1608373
    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

    • Freeway Insurance / Insurance Agency
    • Planet Fitness / Gym & Fitness Center
    • One Love Grappling Arts / Training Center / Sports School
    • Lee's ATA Martial Arts / Training Center / Sports School
    • Country Boys Restaurant / Restaurant

    Property Details for 3202 Greenway Rd

    Lot size
    0.76 lot acres
    Zone code
    C-C
    Property type
    Strip malls
    Property subtype
    Shopping centers
    APN
    214-35-224B
    APU
    21435224B

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Phoenix
    County
    Maricopa
    State
    Arizona
    Longitude
    -112.009
    Latitude
    33.6274
    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
    $3,542
    $0.00
    $0.00
    $50,547
    -
    $327,800
    $0.00
    $327,800

    Comparable in this City

    • Value Estimation
      $1,355,000
      12,050 SF

      2534 Greenway Rd Ste, Unit 103

      SHOPPING CENTER, STRIP CENTER • 12,050 SF
      2534 Greenway Rd Ste, Phoenix, AZ 85032-4372
      View Details
    • Value Estimation
      $4,875,000
      27,762 SF

      3222 Greenway Rd

      SHOPPING CENTER, STRIP CENTER • 27,762 SF
      3222 Greenway Rd, Phoenix, AZ 85032
      View Details
    • Value Estimation
      $19,105,000
      43,880 SF

      4585 Cactus Rd

      SHOPPING CENTER, STRIP CENTER • 43,880 SF
      4585 Cactus Rd, Phoenix, AZ 85032-7701
      View Details
    • Value Estimation
      $715,000
      5,940 SF

      15211 Cave Crk Rd

      SHOPPING CENTER, STRIP CENTER • 5,940 SF
      15211 Cave Crk Rd, Phoenix, AZ 85032-4371
      View Details
    • Value Estimation
      $670,000
      5,940 SF

      15227 Cave Crk Rd

      SHOPPING CENTER, STRIP CENTER • 5,940 SF
      15227 Cave Crk Rd, Phoenix, AZ 85032-4352
      View Details
    • Value Estimation
      $2,645,000
      17,520 SF

      15206 Cave Crk Rd

      SHOPPING CENTER, STRIP CENTER • 17,520 SF
      15206 Cave Crk Rd, Phoenix, AZ 85032-4364
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      33,323 SF

      Greenway Road Retail Pad - Phoenix

      Prime Phoenix retail space, 33,323 SF.
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      Retail Property with Service Bays

      Retail storefront with service bays, suitable for automotive businesses.
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      4,441 SF

      Freestanding Restaurant with Drive-Thru Potential

      Phoenix restaurant space for lease with drive-thru opportunity.
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      Prime Phoenix Retail Anchor Space

      High-visibility anchor space in a rapidly evolving retail corridor.
      12645 N 48Th St, Phoenix, AZ 85032
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      7,120 SF

      Freestanding Commercial Building Near PV

      7,120 SF building near Paradise Valley Mall redevelopment.
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    • $595,000
      2,400 SF

      Free-Standing Retail Building For Sale

      2,400 SF retail building in high-traffic area.
      15046 N Cave Creek Rd, Phoenix, AZ 85032
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    Similar Nearby for Lease

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      1,608 SF

      Retail Space Near Loop-101

      Retail space with high visibility near Loop-101 and SR-51.
      4727 E Bell Rd, Phoenix, AZ 85032
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      3,064 SF

      Retail Space Near Loop-101

      Retail space with high visibility near Loop-101 and SR-51.
      4601 E Bell Rd, Phoenix, AZ 85032
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      825 SF

      Retail Space Available for Lease

      2,423 SF end cap in busy Phoenix location.
      2901-2957 W Bell Rd, Phoenix, AZ 85032
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      7,831 SF

      Retail Spaces For Lease

      Retail spaces available from 929 to 13,382 SF for lease.
      3227-3301 E Bell Rd, Phoenix, AZ 85032
      View Details
    • Contact for pricing

      Retail Space in North Phoenix

      Retail property with high visibility in a high-traffic area.
      18413 N Cave Creek Rd, Phoenix, AZ 85032
      View Details
    • Contact for pricing
      136,890 SF

      Premier Retail Center Near PV

      Elite retail center with high visibility and access to consumers.
      4513-4541 E Cactus Rd, Phoenix, AZ 85032
      View Details
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    Phoenix, AZ 85032-4548
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    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
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