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    Property profile & analytics

    3721 Thomas Rd Phoenix, AZ 85018-7507

    • Showrooms
    • 194,130 SF
    • 14.82 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US07-1761326
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Walmart Pharmacy / Pharmacy
    • Walmart Garden Center / Garden Center
    • First Convenience Bank / Bank / Loan Service
    • Walmart Business Center / Tech Support Center / (Bike/Boat/Book/etc) Store
    • Primo Water Refill & Exchange / Big Box & Wholesale Store

    Property Details for 3721 Thomas Rd

    Year built
    2000
    Construction
    CONCRETE
    Lot size
    14.82 lot acres
    Property size
    194,130 SF
    Zone code
    C-2
    Property type
    Showrooms
    APN
    120-02-005B
    APU
    12002005B

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $94,531,000
      Market price range: $33.9M - $258M
      AI Estimate
      $75,615,000
      Market price range: $27.1M - $227M

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Phoenix
    County
    Maricopa
    State
    Arizona
    Longitude
    -112.001
    Latitude
    33.4793
    CBSA code
    38060
    CBSA name
    PHOENIX-MESA-SCOTTSDALE, AZ METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $452,587
    $0.00
    $0.00
    $3,521,084
    -
    $10,876,700
    $10,463,200
    $21,339,900

    Comparable in this City

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    • Value Estimation
      $8,675,000
      21,780 SF

      4750 Indian School Rd

      DRUG STORE, PHARMACY • 21,780 SF
      4750 Indian School Rd, Phoenix, AZ 85018-5440
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    • Value Estimation
      $8,295,000
      15,183 SF

      4134 44th St

      DRUG STORE, PHARMACY • 15,183 SF
      4134 44th St, Phoenix, AZ 85018-4217
      View Details
    • Value Estimation
      $1,375,000
      2,520 SF

      4007 Camelback Rd

      RETAIL STORES (PERSONAL SERVICES) • 2,520 SF
      4007 Camelback Rd, Phoenix, AZ 85018-2712
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    • Value Estimation
      $1,340,000
      3,248 SF

      4108 Indian School Rd

      RETAIL STORES (PERSONAL SERVICES) • 3,248 SF
      4108 Indian School Rd, Phoenix, AZ 85018-5371
      View Details
    • Value Estimation
      $1,125,000
      2,058 SF

      4247 Indian School Rd

      RETAIL STORES (PERSONAL SERVICES) • 2,058 SF
      4247 Indian School Rd, Phoenix, AZ 85018-5342
      View Details

    Similar Nearby for Sale

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      Arcadia Freestanding Building For Sale

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      Centrally located retail suite in Phoenix with high traffic counts.
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      Prime retail space for sale in Phoenix, Arizona.
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      Arcadia Retail Space on Thomas

      Retail space available in Arcadia with excellent visibility.
      4456 E Thomas Rd, Phoenix, AZ 85018
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      Prime Phoenix Drive-Thru Restaurant Pad

      Arcadia location, high visibility, 2,436 SF
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      Freestanding Building with Drive-Thru

      3,106 SF freestanding building ideal for quick-service restaurants.
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    Similar Nearby for Lease

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      1,320 SF

      Arcadia Area Retail Space

      Retail space in prominent power center with strong tenant lineup.
      4535-4539 E Thomas Rd, Phoenix, AZ 85018
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      Prime Retail Space in Phoenix

      High-traffic retail space near Biltmore Estates with excellent visibility.
      3225 E Camelback Rd, Phoenix, AZ 85018
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      2,400 SF

      Retail Space in Phoenix Center

      Retail spaces available in shopping center anchored by major retailers.
      3923 E Thomas Rd, Phoenix, AZ 85018
      View Details
    • $15 SF/Yr
      10,747 SF

      Freestanding Retail Building For Rent

      Freestanding retail building with street frontage and easy access.
      3722 East Thomas Rd, Phoenix, AZ 85018
      View Details
    • Contact for pricing
      1,525 SF

      Retail Space on Thomas Road

      Retail spaces available in Phoenix, anchored by major retailers.
      3833-3911 E Thomas Rd, Phoenix, AZ 85018
      View Details
    • Contact for pricing
      1,400 SF

      Retail, Office & Medical Space

      Available space suitable for retail, office, or medical tenants.
      3601-3633 W Camelback Rd, Phoenix, AZ 85018
      View Details
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    3721 Thomas Rd
    Phoenix, AZ 85018-7507
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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