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Property profile & analytics
OFF-MARKET
Estimated value
$970,000
Grocery and convenience stores
3402 16th St Phoenix, AZ 85016-7119
Trust Owned
6-yr Hold
Free & Clear
Property ID
US07-1351855
Property profile
Verified
Property type
Grocery and convenience stores
Use group
CONVENIENCE STORE
Year built
1987
Construction
STEEL FRAME
Total area
3,006 SF
Lot
0.26 ac (11,326 SF)
Zoning code
C-2
APN
118-09-122E
UPID
US07-1351855
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
-
Amazon Locker - Palate Postal Service Courier Service
-
Circle K Grocery & Convenience Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$972k
Blend (final)
Blend
$970k
Owner & transaction history
Nahshon,ron Zanzucchi E Trust · 6 yrs held
Nahshon,ron Zanzucchi E Trust
since 2019
7 recorded transactions
Zoning & alternative use
C-2 · Phoenix, AZ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The purpose C-2 zone is to provide commercial uses of medium intensity designed to be compatible with each other and to provide for a wide range of types of commercial activity within the district
Zone name
Intermediate Commercial
General category
COMMERCIAL
Zone area
13,095.06 ac
Source
Realmo
Top alternative use upside
Auto repair, garage
$1.3M
+66.0%
Retail stores
$835,000
+8.8%
Medical building
$800,000
+4.3%
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
NEIGHBORHOOD: SHOPPING CENTER
$765,000
Current use
AUTO REPAIR, GARAGE
$1,270,000
Change: +66% · Conversion: Difficult
RETAIL STORES
$835,000
Change: +9% · Conversion: Easy
MEDICAL BUILDING
$800,000
Change: +4% · Conversion: Difficult
OFFICE BUILDING
$780,000
Change: +2% · Conversion: Moderate
WAREHOUSE, STORAGE
$780,000
Change: +2% · Conversion: Difficult
Blend value · Realmo final
$970k
Range $873k – $1.07M · ±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
$323 / 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
$7,552
Tax year 2022
Assessed value
$89,298
Assessed 2024
Previous assessed
$75,378
+18.5% YoY
Effective rate
8.46%
On assessed value
Land market value
$290,200
Improvement market value
$251,000
Total market value
$541,200
Applied tax rate
81,300.0000
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
1987
Construction
STEEL FRAME
Heating
HEAT PUMP
Buildings
2
Stories
1
Total area
3,006 SF
Lot
0.26 ac (11,326 SF)
Zoning code
C-2
APN
118-09-122E
UPID
US07-1351855
Jurisdiction
MARICOPA
Zoning & alternative use
C-2 · Phoenix, AZZoning 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
Zoning description
The purpose C-2 zone is to provide commercial uses of medium intensity designed to be compatible with each other and to provide for a wide range of types of commercial activity within the district
Zone name
Intermediate Commercial
General category
COMMERCIAL
Zone area
13,095.06 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$765,000
AUTO REPAIR, GARAGE
Est. value
$1.3M
RETAIL STORES
Est. value
$835,000
MEDICAL BUILDING
Est. value
$800,000
OFFICE BUILDING
Est. value
$780,000
WAREHOUSE, STORAGE
Est. value
$780,000
NEIGHBORHOOD: SHOPPING CENTER Current
AUTO REPAIR, GARAGE
RETAIL STORES
MEDICAL BUILDING
OFFICE 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
1987
Construction
STEEL FRAME
Heating
HEAT PUMP
Stories
1
Buildings
2
Lot
0.26 ac
Current owner
From public records · entity-resolved
Nahshon,ron Zanzucchi E Trust
Trust
Free & Clear · 6 yrs held
Mailing address
2424 N FEDERAL HWY STE #101, BOCA RATON, FL 33431-7796
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
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 13, 2019
—
Nahshon,ron Zanzucchi E Trust
Pm Promotions LLC
Grant Deed
related
—
Jul 31, 2017
$1,428,500
I S 16th LLC
Circle 3402 LLC
Special Warranty Deed
—
Jan 5, 2006
$1,030,000
Circle 3402 LLC
Conner,steven F
Grant Deed
—
Nov 19, 2004
$1,030,000
Steven F Conner
Dbncf Circle LLC
Grant Deed
related
$750,000 · Steven F Conner
Mar 31, 2004
$760,000
Dbncf Circle LLC
Circle K Stores INC
Grant Deed
related
—
Jun 13, 2000
$975,000
Circle K Stores INC
Central Lakes Partnership
Grant Deed
related
—
Apr 27, 1987
—
Central Lake
—
Deed Of Trust
related
—
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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