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    3400 Ml Ave Tempe, AZ 85282-4960
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    Property profile & analytics

    3400 Ml Ave, Tempe, AZ 85282-4960

    View on Map
    • Retail space
    • 1,280 SF
    • 0.05 lot acres
    Off-Market
    Property ID
    US07-3154491
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Firepower Music / Recording Studio
    • Arizona Brothers Keeper Ministry / Church / Mosque
    • Five Stars Pizza Party / Take-out & Catering / Catering Service
    • Casa de Paz / Church
    • Industrial Personnel Inc / Employment Agency

    Property Details for 3400 Ml Ave

    Year built
    1964
    Construction
    CONCRETE
    Lot size
    0.05 lot acres
    Zone code
    C-G
    Property type
    Retail space
    APN
    133-58-016D
    APU
    13358016D

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Feb 3, 2009 $25,001 Nesren Nessan Investors Te Svcs INC Trustees Deed · related —
    Jul 16, 2008 — Annie Hsu Carrillo,juan Warranty Deed · related —
    Nov 13, 2002 — Dale A Walker Walker,loretta L Quit Claim Deed · related —
    Oct 8, 2002 — Juan Carrillo Enge,percy C & Mary L Grant Deed · related —
    Nov 13, 1996 — Juan Carrillo Annie Carrillo Quit Claim Deed · related —
    — — Juan Carrillo — Deed Of Trust · related $35k · Dale A Walker
    — — Juan Carrillo — Deed Of Trust · related $53k · Herbert & Sandra Porath
    — — Juan Carrillo — Deed Of Trust · related $65k · Sir Mortgage & Finance Arizona

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Tempe
    County
    Maricopa
    State
    Arizona
    Longitude
    -111.943
    Latitude
    33.3922
    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
    $1,406
    $0.00
    $0.00
    $26,268
    -
    $94,500
    $64,702
    $159,202

    Comparable in this City

    • Value Estimation
      $4,430,000
      6,773 SF

      2180 Southern Ave

      RETAIL STORES (PERSONAL SERVICES)
      2180 Southern Ave, Tempe, AZ 85282-7504
      View Details
    • Value Estimation
      $1,660,000
      4,860 SF

      2010 Rural Rd

      RETAIL STORES (PERSONAL SERVICES)
      2010 Rural Rd, Tempe, AZ 85282-1408
      View Details
    • Value Estimation
      $755,000
      2,280 SF

      3400 Ml Ave

      RETAIL STORES (PERSONAL SERVICES)
      3400 Ml Ave, Tempe, AZ 85282-4960
      View Details
    • Value Estimation
      $1,345,000
      3,350 SF

      3414 Ml Ave

      RETAIL STORES (PERSONAL SERVICES)
      3414 Ml Ave, Tempe, AZ 85282-4935
      View Details
    • Value Estimation
      $2,045,000
      12,405 SF

      2710 Roosevelt St

      RETAIL STORES (PERSONAL SERVICES)
      2710 Roosevelt St, Tempe, AZ 85282-2089
      View Details
    • Value Estimation by Request
      3,150 SF

      23 Southern Ave

      RETAIL STORES (PERSONAL SERVICES)
      23 Southern Ave, Tempe, AZ 85282-4962
      View Details

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      Prime Retail Space Available

      30,000 SF retail space in a prime location.
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      Retail property with existing building and access to Loop 101.
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      Retail Space in Tempe, Arizona

      Retail space available for sale in Tempe, Arizona.
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      Tempe Hard Corner Building

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    Similar Nearby for Lease

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      1,277 SF

      Retail Space on Broadway Road

      Retail space in high-traffic Tempe location near ASU.
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      1,201 SF

      Retail Space Near ASU

      Retail space for lease near Downtown Tempe and ASU.
      764-790 W Broadway Rd, Tempe, AZ 85282
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      Tempe Retail Space Available

      Retail spaces available in Tempe, with high visibility.
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      Tempe Retail Space For Rent

      Retail space available in a newly remodeled Tempe shopping center.
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      Tempe Retail Space Available

      Retail space in Tempe with high traffic and nearby apartments.
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      2,127 SF

      Retail Space Near ASU

      Retail space in Tempe, close to ASU and Downtown.
      764 W Broadway Rd, Tempe, AZ 85282
      View Details

    Property Visit Statistics

    • Visits by month
      414
    • Visitors by month
      348
    • Avg Time on site
      36 min
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    Tempe, AZ 85282-4960
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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.

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