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    3404 W Southern Ave Phoenix, AZ 85040

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    3404 W Southern Ave Phoenix, AZ 85040

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    • Strip malls
    • 11,357 SF
    • 8.77 lot acres
    For Lease
    $4,945,000
    View Listing →
    New Shopping Center Retail Space For Lease
    $4,945,000
    20,230 SF

    New Shopping Center Retail Space

    Newly built shopping center retail space for lease.

    3404 W Southern Ave, Phoenix, AZ
    View Listing
    Property ID
    US07-0785701
    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

    • BBB Fashion / Clothing Store / Beauty Supply Store

    Property Details for 3404 W Southern Ave

    Year built
    2007
    Construction
    CONCRETE
    Lot size
    8.77 lot acres
    Property size
    11,357 SF
    Zone code
    C-1
    Property type
    Strip malls
    Property subtype
    Shopping centers
    APN
    105-68-528
    APU
    10568528

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $5,226,000
      Market price range: $1.33M - $5.23M
      AI Estimate
      $4,663,000
      Market price range: $1.23M - $4.66M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $7,910,000
      RESTAURANT
      $6,065,000
      AUTO REPAIR, GARAGE
      $4,800,000
      OFFICE BUILDING
      $3,410,000
      RETAIL STORES
      $3,385,000
      MEDICAL BUILDING
      $3,015,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Phoenix
    County
    Maricopa
    State
    Arizona
    Longitude
    -112.131
    Latitude
    33.3929
    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
    $225,799
    $0.00
    $0.00
    $1,893,818
    -
    $3,364,700
    $8,343,600
    $11,708,300

    Comparable in this City

    • Value Estimation
      $1,880,000
      7,200 SF

      2030 Baseline Rd Ste, Unit 183

      SHOPPING CENTER, STRIP CENTER • 7,200 SF
      2030 Baseline Rd Ste, Phoenix, AZ 85041-6574
      View Details
    • Value Estimation
      $4,230,000
      13,860 SF

      2710 Southern Ave

      SHOPPING CENTER, STRIP CENTER • 13,860 SF
      2710 Southern Ave, Phoenix, AZ 85041-4501
      View Details
    • Value Estimation
      $1,220,000
      2,800 SF

      1 Baseline Rd

      SHOPPING CENTER, STRIP CENTER • 2,800 SF
      1 Baseline Rd, Phoenix, AZ 85041-7102
      View Details
    • Value Estimation
      $1,705,000
      6,570 SF

      2020 Baseline Rd

      SHOPPING CENTER, STRIP CENTER • 6,570 SF
      2020 Baseline Rd, Phoenix, AZ 85041-6573
      View Details
    • Value Estimation
      $2,035,000
      7,540 SF

      1810 Southern Ave

      SHOPPING CENTER, STRIP CENTER • 7,540 SF
      1810 Southern Ave, Phoenix, AZ 85041-4652
      View Details
    • Value Estimation
      $7,565,000
      17,376 SF

      2606 Baseline Rd

      SHOPPING CENTER, STRIP CENTER • 17,376 SF
      2606 Baseline Rd, Phoenix, AZ 85041-6403
      View Details

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      Phoenix Land Parcel For Sale

      3.844 AC parcel suitable for gas station, retail, and more.
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      2,700 SF

      Phoenix C-Store/Gas Station Opportunity

      Hard corner gas station for sale, lease, or build-to-suit.
      709 W Southern Ave, Phoenix, AZ 85041
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      Phoenix Land Parcel For Sale

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      Phoenix Land with Mountain Views

      Well-located land near South Mountain Preserve, close to Phoenix.
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      Commercial land for rent in a high-traffic Phoenix location.
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    Similar Nearby for Lease

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      2,176 SF

      Retail Space in Growing Suburb

      Retail space available in a strategically positioned shopping center.
      3525 W Southern Ave, Phoenix, AZ 85041
      View Details
    • Contact for pricing
      1,176 SF

      Retail Space in Phoenix Center

      Well-maintained shopping center with high visibility and traffic.
      1810 W Southern Ave, Phoenix, AZ 85041
      View Details
    • Contact for pricing
      20,000 SF

      Retail Shops and PADs Available

      Retail spaces for lease in a high-traffic Phoenix location.
      1843 W Baseline Rd, Phoenix, AZ 85041
      View Details
    • Contact for pricing
      1,111 SF

      New Retail Space Available

      Newly built shopping center space for lease in Phoenix.
      3424 W Southern Ave, Phoenix, AZ 85041
      View Details
    • Contact for pricing

      Retail Space in Phoenix Center

      Retail space available in a Food City anchored shopping center.
      6036 S 7Th Ave, Phoenix, AZ 85041
      View Details
    • Contact for pricing
      20,390 SF

      Prime Retail Space Available

      Retail space with strong anchor tenants and excellent visibility.
      1976 W Baseline Rd, Phoenix, AZ 85041
      View Details
    View Listing
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    Phoenix, AZ 85040
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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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