New search
Property profile & analytics
FOR LEASE
Strip malls
3222 E Greenway Rd, Phoenix, AZ 85032
Entity Owned
6-yr Hold
Free & Clear
Property ID
US07-0987465
For Lease
1 / 5
$4,875,000
3222 E Greenway Rd, Phoenix, AZ 85032
View Listing →
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1990
Construction
CONCRETE
Total area
27,762 SF
Lot
2.58 ac (112,347 SF)
Zoning code
C-2
APN
214-35-226
UPID
US07-0987465
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$5.11M
Blend (final)
Blend
$4.88M
Owner & transaction history
Ap Capital Holdings LP · 6 yrs held
Ap Capital Holdings LP
since 2019
6 recorded transactions
Zoning & alternative use
C-2 · Phoenix, AZ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$7.8M
+10.3%
Medical building
$7.4M
+4.3%
Warehouse, storage
$7.2M
+2.0%
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
NEIGHBORHOOD: SHOPPING CENTER
$7,065,000
Current use
RETAIL STORES
$7,795,000
Change: +10% · Conversion: Easy
MEDICAL BUILDING
$7,370,000
Change: +4% · Conversion: Difficult
WAREHOUSE, STORAGE
$7,205,000
Change: +2% · Conversion: Difficult
Blend value · Realmo final
$4.88M
Range $4.39M – $5.36M · ±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
$176 / 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
$47,850
Tax year 2023
Assessed value
$614,988
Assessed 2024
Previous assessed
$550,630
+11.7% YoY
Effective rate
7.78%
On assessed value
Land market value
$1,105,300
Improvement market value
$2,621,900
Total market value
$3,727,200
Applied tax rate
691,300.0000
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
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
For Lease
Year built
1990
Construction
CONCRETE
Heating
PACKAGE
Cooling
YES
Stories
1
Total area
27,762 SF
Lot
2.58 ac (112,347 SF)
Zoning code
C-2
APN
214-35-226
UPID
US07-0987465
Jurisdiction
MARICOPA
Zoning & alternative use
C-2 · Phoenix, AZ
Zoning 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
Phoenix. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$7.1M
RETAIL STORES
Est. value
$7.8M
MEDICAL BUILDING
Est. value
$7.4M
WAREHOUSE, STORAGE
Est. value
$7.2M
NEIGHBORHOOD: SHOPPING CENTER Current
RETAIL STORES
MEDICAL BUILDING
WAREHOUSE, STORAGE
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
1990
Construction
CONCRETE
Heating
PACKAGE
Cooling
Yes
Stories
1
Lot
2.58 ac
Current owner
From public records · entity-resolved
Ap Capital Holdings LP
Entity
Free & Clear · 6 yrs held
Mailing address
19777 N 76TH ST APT #2222, SCOTTSDALE, AZ 85255-3819
Ownership since
2019
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 4, 2019
—
Ap Capital Holdings LP
Ap Capital Reit USA LP
Quit Claim Deed
related
—
Nov 7, 2017
—
Ap Capital Reit USA LP
—
Grant Deed
related
$17,500,000 · Miscellaneous Ins Co
Oct 29, 2015
$95,000
Arizona Greenway Hirani Inv
Capon Acquisition LLC
Grant Deed
—
Oct 29, 2015
$23,100,000
Ap Capital Reit USA Limited Partner
Arizona Greenway Hirani Investments
Special Warranty Deed
$18,000,000 · Midcap Financial Trust
Nov 1, 2005
—
Greenway Hirani Invs L Arizona
Greenway Village Investors LLC
Quit Claim Deed
related
$24,750,000 · Wells Fargo Bank
Dec 18, 1997
$16,580,000
Realty L L C Gms
Radnor Phoenix Partnershi
Grant Deed
$135,000,000 · Wells Fargo Bank
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
