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Property profile & analytics
FOR LEASE
Strip malls
3646 E Ray Rd, Phoenix, AZ 85044
Entity Owned
Absentee Owner
Free & Clear
Property ID
US07-1160057
For Lease
1 / 2
$6,305,000
3646 E Ray Rd, Phoenix, AZ 85044
View Listing →
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1993
Construction
CONCRETE
Total area
14,480 SF
Lot
3.72 ac (161,913 SF)
Zoning code
PSC
APN
301-77-995A
UPID
US07-1160057
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
-
Local Services Services
-
Glam Beauty Bar Hair Salon Nail Salon
-
The Bombshell Beauty Studio Medical Clinic Skin Care Clinic
-
Glam Glow Aesthetics by Laura Spa & Massage Center Skin Care Clinic
-
Steph Fades Barber Shop
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$6.66M
Blend (final)
Blend
$6.31M
Owner & transaction history
SAMUELSON HORNADAY PARTNERSHIP
SAMUELSON HORNADAY PARTNERSHIP
Zoning & alternative use
PSC · Phoenix, AZ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$10.1M
+173.6%
Restaurant
$7.7M
+109.8%
Auto repair, garage
$6.1M
+66.0%
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
COMMERCIAL (GENERAL)
$10,085,000
Change: +174% · Conversion: Easy
RESTAURANT
$7,735,000
Change: +110% · Conversion: Difficult
AUTO REPAIR, GARAGE
$6,120,000
Change: +66% · Conversion: Difficult
RETAIL STORES
$4,315,000
Change: +17% · Conversion: Easy
MEDICAL BUILDING
$3,845,000
Change: +4% · Conversion: Difficult
Blend value · Realmo final
$6.31M
Range $5.67M – $6.94M · ±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
$435 / 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
$72,446
Tax year 2023
Assessed value
$1,129,527
Assessed 2024
Previous assessed
$1,001,742
+12.8% YoY
Effective rate
6.41%
On assessed value
Land market value
$3,884,700
Improvement market value
$2,960,918
Total market value
$6,845,618
Applied tax rate
281,300.0000
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
1993
Construction
CONCRETE
Heating
PACKAGE
Cooling
YES
Buildings
2
Stories
1
Units
2
Total area
14,480 SF
Lot
3.72 ac (161,913 SF)
Zoning code
PSC
APN
301-77-995A
UPID
US07-1160057
Jurisdiction
MARICOPA
Zoning & alternative use
PSC · Phoenix, AZ
Zoning PSC · permitted uses
PSC · 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
COMMERCIAL (GENERAL)
Est. value
$10.1M
RESTAURANT
Est. value
$7.7M
AUTO REPAIR, GARAGE
Est. value
$6.1M
RETAIL STORES
Est. value
$4.3M
MEDICAL BUILDING
Est. value
$3.8M
COMMERCIAL (GENERAL)
RESTAURANT
AUTO REPAIR, GARAGE
RETAIL STORES
MEDICAL BUILDING
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
1993
Construction
CONCRETE
Heating
PACKAGE
Cooling
Yes
Stories
1
Buildings
2
Units
2
Lot
3.72 ac
Current owner
From public records · entity-resolved
SAMUELSON HORNADAY PARTNERSHIP
Individual
Free & Clear · 0 yrs held
Mailing address
2400 E ARIZONA BILTMORE CIR STE #1135, PHOENIX, AZ 85016-2134
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
—
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
No recorded transactions
No recorded transactions found for this property.
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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