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Property profile & analytics
OFF-MARKET
Estimated value
$2,215,000
Drive through restaurants
3602 Thomas Rd, Phoenix, AZ 85018-7506
Entity Owned
15-yr Hold
~
Est. High Equity
Property ID
US07-1187088
Property profile
Verified
Property type
Drive through restaurants
Use group
DRIVE-THRU RESTAURANT, FAST FOOD
Year built
2017
Construction
STEEL FRAME
Total area
2,730 SF
Lot
0.57 ac (24,840 SF)
Zoning code
C-2
APN
127-22-064A
UPID
US07-1187088
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
-
Academia Freedom LLC High School Daycare Center
-
Pizza Hut Restaurant Take-out & Catering
-
Finisher's Warehouse Department Store
-
Embassy World Worship Center Church
-
Copier Warehouse Warehouse & Storage
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.26M
Blend (final)
Blend
$2.22M
Owner & transaction history
Peterson & Burge LLC · 15 yrs held
Peterson & Burge LLC
since 2010
6 recorded transactions
Zoning & alternative use
C-2 · Phoenix, AZ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$1.9M
+30.4%
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
RESTAURANT
$1,460,000
Current use
COMMERCIAL (GENERAL)
$1,900,000
Change: +30% · Conversion: Easy
Blend value · Realmo final
$2.22M
Range $1.99M – $2.44M · ±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
$811 / 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
$23,604
Tax year 2023
Assessed value
$256,441
Assessed 2024
Previous assessed
$234,651
+9.3% YoY
Effective rate
9.20%
On assessed value
Land market value
$683,700
Improvement market value
$870,485
Total market value
$1,554,185
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
Drive through restaurants
Use group
DRIVE-THRU RESTAURANT, FAST FOOD
Status
Off-Market
Year built
2017
Construction
STEEL FRAME
Heating
NONE
Stories
1
Total area
2,730 SF
Lot
0.57 ac (24,840 SF)
Zoning code
C-2
APN
127-22-064A
UPID
US07-1187088
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
RESTAURANT Current
Est. value
$1.5M
COMMERCIAL (GENERAL)
Est. value
$1.9M
RESTAURANT Current
COMMERCIAL (GENERAL)
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
2017
Construction
STEEL FRAME
Heating
NONE
Stories
1
Lot
0.57 ac
Current owner
From public records · entity-resolved
Peterson & Burge LLC
Entity
Mailing address
PO BOX 3459, KINGMAN, AZ 86402-3459
Ownership since
2010
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
Jul 13, 2022
—
Peterson And Burge LLC
—
Deed
related
$156,500,000 · First Horizon Bank
Oct 2, 2017
—
Peterson & Burge LLC
—
Grant Deed
related
$48,000,000 · First Tn Bk
Jun 19, 2013
—
Peterson & Burge LLC
—
Loan Modification
related
$23,100,000 · Regions Financial Corp
Jun 6, 2013
—
Peterson & Burge LLC
—
Deed Of Trust
related
$7,500,000 · Regions Bank
Oct 20, 2010
$1,200,000
Peterson & Burge LLC
Pizz Hut Of America INC
Special Warranty Deed
$12,500,000 · Regions Financial Corporation
—
—
Peterson & Burge LLC
—
Loan Modification
related
$90,000,000 · Regions Fin'l
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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