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Property profile & analytics
OFF-MARKET
Estimated value
$1,785,000
Strip malls
3501 Northern Ave, Phoenix, AZ 85051
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US07-1576665
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1977
Construction
CONCRETE
Total area
10,785 SF
Lot
1.11 ac (48,439 SF)
Zoning code
C-2
APN
151-04-001V
UPID
US07-1576665
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
-
Commercial Lot Parking Lot & Garage
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.87M
Blend (final)
Blend
$1.79M
Owner & transaction history
Northern 35 Investments LLC · 3 yrs held
Northern 35 Investments LLC
since 2022
4 recorded transactions
Zoning & alternative use
C-2 · Phoenix, AZ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$2.9M
+4.3%
Warehouse, storage
$2.8M
+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
$2,745,000
Current use
MEDICAL BUILDING
$2,865,000
Change: +4% · Conversion: Difficult
WAREHOUSE, STORAGE
$2,800,000
Change: +2% · Conversion: Difficult
Blend value · Realmo final
$1.79M
Range $1.61M – $1.96M · ±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
$166 / 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
$12,314
Tax year 2023
Assessed value
$225,077
Assessed 2024
Previous assessed
$177,242
+27.0% YoY
Effective rate
5.47%
On assessed value
Land market value
$623,700
Improvement market value
$740,400
Total market value
$1,364,100
Applied tax rate
61,300.0000
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
Off-Market
Year built
1977
Construction
CONCRETE
Heating
PACKAGE
Cooling
YES
Stories
1
Total area
10,785 SF
Lot
1.11 ac (48,439 SF)
Zoning code
C-2
APN
151-04-001V
UPID
US07-1576665
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
$2.7M
MEDICAL BUILDING
Est. value
$2.9M
WAREHOUSE, STORAGE
Est. value
$2.8M
NEIGHBORHOOD: SHOPPING CENTER Current
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
1977
Construction
CONCRETE
Heating
PACKAGE
Cooling
Yes
Stories
1
Lot
1.11 ac
Current owner
From public records · entity-resolved
Northern 35 Investments LLC
Entity
Mailing address
6501 E GREENWAY PKWY STE #103, SCOTTSDALE, AZ 85254-2070
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 22, 2022
$3,750,000
Northern 35 Investments LLC
5818 California Street Partners
Special Warranty Deed
$2,437,500 · Firstbank
Feb 10, 2004
$890,000
5818 California Street Ptrs
Jack Berg Family
Grant Deed
$2,000,000 · Affinity Bank
Oct 29, 1996
—
Berg Family L P
Jack Berg Family Trust
Quit Claim Deed
related
—
Oct 25, 1988
$720,000
Jack A Berg
—
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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