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Property profile & analytics
OFF-MARKET
Estimated value
$4,130,000
Individual retail properties
3406 38th St Phoenix, AZ 85018-5848
Entity Owned
1-yr Hold
Property ID
US07-0082721
Property profile
Verified
Property type
Individual retail properties
Use group
LAUNDROMAT (SELF-SERVICE)
Year built
1973
Construction
CONCRETE
Total area
288 SF
Lot
0.47 ac (20,379 SF)
Zoning code
R-3
APN
127-24-018B
UPID
US07-0082721
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
$4.13M
Blend (final)
Blend
$4.13M
Owner & transaction history
Meta Street LP · 1 yrs held
Meta Street LP
since 2024
6 recorded transactions
Zoning & alternative use
R-3 · Phoenix, AZ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The purpose of R-3 is to provide for alternate living styles including rental, condominiums and single ownership of land with multiple units thereon or single or attached townhomes
Zone name
Multifamily Residence
General category
RESIDENTIAL
Zone area
10,766.74 ac
Source
Realmo
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
Blend value · Realmo final
$4.13M
Range $3.72M – $4.54M · ±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
$14,340 / 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
$8,579
Tax year 2023
Assessed value
$289,670
Assessed 2024
Previous assessed
$222,970
+29.9% YoY
Effective rate
2.96%
On assessed value
Land market value
$321,800
Improvement market value
$2,574,900
Total market value
$2,896,700
Applied tax rate
141,300.0000
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
Individual retail properties
Use group
LAUNDROMAT (SELF-SERVICE)
Status
Off-Market
Year built
1973
Construction
CONCRETE
Heating
NONE
Buildings
4
Stories
1
Units
15
Total area
288 SF
Lot
0.47 ac (20,379 SF)
Zoning code
R-3
APN
127-24-018B
UPID
US07-0082721
Jurisdiction
MARICOPA
Zoning & alternative use
R-3 · Phoenix, AZZoning R-3 · permitted uses
R-3 · Phoenix, AZ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The purpose of R-3 is to provide for alternate living styles including rental, condominiums and single ownership of land with multiple units thereon or single or attached townhomes
Zone name
Multifamily Residence
General category
RESIDENTIAL
Zone area
10,766.74 ac
Source
Realmo
Building & site characteristics
From public records
Year built
1973
Construction
CONCRETE
Heating
NONE
Stories
1
Buildings
4
Units
15
Lot
0.47 ac
Current owner
From public records · entity-resolved
Meta Street LP
Entity
Mailing address
4157 CONCORD PIKE, WILMINGTON, DE 19803-1487
Ownership since
2024
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
Nov 26, 2024
$3,165,000
Meta Street LP
Emerald Industries LLC
Special Warranty Deed
$1,533,000 · Northmarq Capital Finance LLC
Jun 9, 2022
—
Emerald Industries LLC
—
Deed
related
$1,500,000 · First International Bank & Trust
Apr 12, 2016
$1,900,000
Emerald Industries LLC
Estates At Arcadia Lllp
Grant Deed
—
Apr 20, 2005
$850,000
Mawi LLC
Ervin U Farley
Special Warranty Deed
$577,500 · Irwin Union Bank Fsb
Sep 8, 1994
$350,000
Ervin U Farley
Clw & Cjn Co
Grant Deed
related
—
—
—
Ervin U Farley
—
Deed Of Trust
related
$460,000 · Ruby G Farley
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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