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Property profile & analytics
FOR LEASE
Strip malls
3620 E Thomas Rd, Phoenix, AZ 85018
Entity Owned
8-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US07-0895052
For Lease
1 / 19
$1,790,000
3620 E Thomas Rd, Phoenix, AZ 85018
View Listing →
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1962
Construction
CONCRETE
Total area
6,930 SF
Lot
0.42 ac (18,307 SF)
Zoning code
C-2
APN
127-22-004
UPID
US07-0895052
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
-
Soapy Sudz Laundry (Bike/Boat/Book/etc) Store
-
J S Printing Marketing & Advertising Printing Service
-
Moon Smoke (Bike/Boat/Book/etc) Store
-
La Regional Religious Bookstore
-
Twadestore Department Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.88M
Blend (final)
Blend
$1.79M
Owner & transaction history
3620 Thomas LLC · 8 yrs held
3620 Thomas LLC
since 2017
2 recorded transactions
Zoning & alternative use
C-2 · Phoenix, AZ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$2.9M
+66.0%
Office building
$2.8M
+59.1%
Retail stores
$2.1M
+17.1%
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
$1,765,000
Current use
AUTO REPAIR, GARAGE
$2,930,000
Change: +66% · Conversion: Difficult
OFFICE BUILDING
$2,805,000
Change: +59% · Conversion: Moderate
RETAIL STORES
$2,065,000
Change: +17% · Conversion: Easy
MEDICAL BUILDING
$1,840,000
Change: +4% · Conversion: Difficult
WAREHOUSE, STORAGE
$1,800,000
Change: +2% · Conversion: Difficult
Blend value · Realmo final
$1.79M
Range $1.61M – $1.97M · ±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
$258 / 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
$21,159
Tax year 2023
Assessed value
$226,001
Assessed 2024
Previous assessed
$205,479
+10.0% YoY
Effective rate
9.36%
On assessed value
Land market value
$432,100
Improvement market value
$937,600
Total market value
$1,369,700
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
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
For Lease
Year built
1962
Construction
CONCRETE
Heating
PACKAGE
Cooling
YES
Buildings
2
Stories
2
Units
2
Total area
6,930 SF
Lot
0.42 ac (18,307 SF)
Zoning code
C-2
APN
127-22-004
UPID
US07-0895052
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
$1.8M
AUTO REPAIR, GARAGE
Est. value
$2.9M
OFFICE BUILDING
Est. value
$2.8M
RETAIL STORES
Est. value
$2.1M
MEDICAL BUILDING
Est. value
$1.8M
WAREHOUSE, STORAGE
Est. value
$1.8M
NEIGHBORHOOD: SHOPPING CENTER Current
AUTO REPAIR, GARAGE
OFFICE BUILDING
RETAIL STORES
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
1962
Construction
CONCRETE
Heating
PACKAGE
Cooling
Yes
Stories
2
Buildings
2
Units
2
Lot
0.42 ac
Current owner
From public records · entity-resolved
3620 Thomas LLC
Entity
Mailing address
6912 E ORANGE BLOSSOM DR, PARADISE VALLEY, AZ 85253-7039
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2017
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 16, 2017
$2,184,000
3620 Thomas LLC
Helena Rovala
Special Warranty Deed
$835,000 · Bank 34
Jan 9, 1997
—
Rovala Trust
Rex & Helena Rovala
Quit Claim Deed
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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