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Property profile & analytics
OFF-MARKET
Estimated value
$980,000
Retail space
3502 Glendale Ave Phoenix, AZ 85051-8333
Entity Owned
5-yr Hold
Free & Clear
Property ID
US07-3282206
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
2021
Construction
STEEL FRAME
Total area
1,797 SF
Lot
0.52 ac (22,651 SF)
Zoning code
PSC
APN
151-20-001D
UPID
US07-3282206
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
-
Starbucks Cafe & Coffee Shop
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$991k
Blend (final)
Blend
$980k
Owner & transaction history
Glendale & 35th Ave LLC · 5 yrs held
Glendale & 35th Ave LLC
since 2021
7 recorded transactions
Zoning & alternative use
PSC · Phoenix, AZ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The intent of PSC district is to provide for well designed retail shopping facilities in appropriate locations and, farther, that the district snail be laid out and developed as a unit according to an approved plan so that the purpose of the district may be accomplished
Zone name
Planned Shopping Center
General category
COMMERCIAL
Zone area
915.97 ac
Source
Realmo
Top alternative use upside
Commercial (general)
$1.3M
+133.7%
Auto repair, garage
$760,000
+41.8%
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
COMMERCIAL (GENERAL)
$1,250,000
Change: +134% · Conversion: Easy
AUTO REPAIR, GARAGE
$760,000
Change: +42% · Conversion: Difficult
Blend value · Realmo final
$980k
Range $882k – $1.08M · ±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
$545 / 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
$10,479
Tax year 2023
Assessed value
$138,506
Assessed 2024
Previous assessed
$68,935
+100.9% YoY
Effective rate
7.57%
On assessed value
Land market value
$461,700
Improvement market value
$377,728
Total market value
$839,428
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
2021
Construction
STEEL FRAME
Heating
HEAT PUMP
Stories
1
Total area
1,797 SF
Lot
0.52 ac (22,651 SF)
Zoning code
PSC
APN
151-20-001D
UPID
US07-3282206
Jurisdiction
MARICOPA
Zoning & alternative use
PSC · Phoenix, AZZoning PSC · permitted uses
PSC · Phoenix, AZ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The intent of PSC district is to provide for well designed retail shopping facilities in appropriate locations and, farther, that the district snail be laid out and developed as a unit according to an approved plan so that the purpose of the district may be accomplished
Zone name
Planned Shopping Center
General category
COMMERCIAL
Zone area
915.97 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL)
Est. value
$1.3M
AUTO REPAIR, GARAGE
Est. value
$760,000
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
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
2021
Construction
STEEL FRAME
Heating
HEAT PUMP
Stories
1
Lot
0.52 ac
Current owner
From public records · entity-resolved
Glendale & 35th Ave LLC
Entity
Free & Clear · 5 yrs held
Mailing address
2861 N 52ND AVE #3, PHOENIX, AZ 85035-1906
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 11, 2022
—
Glendale & 35th Ave LLC
—
Deed
related
$780,000 · Midfirst Bank
Sep 8, 2021
—
Glendale & 35th Ave LLC
—
Deed
related
$1,125,000 · Midfirst Bank
Mar 29, 2021
—
Glendale & 35th Ave LLC
Real Estate Holdings Of Arizona LLC
Warranty Deed
—
Aug 14, 2017
—
Real Estate Holdings Of Arizona L
Nrm Investors LLC
Warranty Deed
related
—
Dec 16, 2011
$180,001
Nrm Investors LLC
Peterson,kurt A
Trustees Deed
related
—
Jul 5, 2011
—
Glendale Avenue Land Trust
Rana,tariq M & Shahnaz A
Warranty Deed
related
—
Feb 14, 2007
$1,112,500
Tariq M Rana
Spirit Store LLC
Warranty Deed
$880,000 · Pacific Western Bank
Sep 30, 2004
$505,300
Spirit Store LLC
Chevron USA INC
Grant Deed
$469,000 · Borrego Springs Bank
—
—
Tariq M Rana
—
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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