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Property profile & analytics
OFF-MARKET
Estimated value
$13,140,000
Outlet malls
3833 Thomas Rd, Phoenix, AZ 85018-7523
Entity Owned
9-yr Hold
~
Est. High Equity
Property ID
US07-1935624
Property profile
Verified
Property type
Outlet malls
Use group
WHOLESALE OUTLET, DISCOUNT STORE
Year built
2000
Construction
CONCRETE
Total area
24,044 SF
Lot
9.93 ac (432,482 SF)
Zoning code
C-2
APN
120-02-008B
UPID
US07-1935624
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
-
Kimberly A. Shipman, MD Physician
-
Skechers shoes Discount Clothing & Fashion Store (Bike/Boat/Book/etc) Store
-
Maternity Dresses Discount Clothing & Fashion Store
-
Oak Street Health Desert Palms Primary Care Clinic Medical Clinic
-
GameStop Arcade & Gaming Center Electronics & Wireless Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$13.25M
Blend (final)
Blend
$13.14M
Owner & transaction history
Imagine Properties Ent LLC · 9 yrs held
Imagine Properties Ent LLC
since 2017
4 recorded transactions
Zoning & alternative use
C-2 · Phoenix, AZ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$16.7M
+133.7%
Restaurant
$12.8M
+79.2%
Auto repair, garage
$10.2M
+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)
$16,745,000
Change: +134% · Conversion: Easy
RESTAURANT
$12,840,000
Change: +79% · Conversion: Easy
AUTO REPAIR, GARAGE
$10,160,000
Change: +42% · Conversion: Difficult
OFFICE BUILDING
$9,735,000
Change: +36% · Conversion: Easy
Blend value · Realmo final
$13.14M
Range $11.83M – $14.45M · ±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
$546 / 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
$211,059
Tax year 2023
Assessed value
$2,351,613
Assessed 2024
Previous assessed
$2,281,417
+3.1% YoY
Effective rate
8.98%
On assessed value
Land market value
$7,288,600
Improvement market value
$6,963,600
Total market value
$14,252,200
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
Outlet malls
Use group
WHOLESALE OUTLET, DISCOUNT STORE
Status
Off-Market
Year built
2000
Construction
CONCRETE
Heating
PACKAGE
Cooling
YES
Buildings
5
Stories
1
Units
5
Total area
24,044 SF
Lot
9.93 ac (432,482 SF)
Zoning code
C-2
APN
120-02-008B
UPID
US07-1935624
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
COMMERCIAL (GENERAL)
Est. value
$16.7M
RESTAURANT
Est. value
$12.8M
AUTO REPAIR, GARAGE
Est. value
$10.2M
OFFICE BUILDING
Est. value
$9.7M
COMMERCIAL (GENERAL)
RESTAURANT
AUTO REPAIR, GARAGE
OFFICE 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
2000
Construction
CONCRETE
Heating
PACKAGE
Cooling
Yes
Stories
1
Buildings
5
Units
5
Lot
9.93 ac
Current owner
From public records · entity-resolved
Imagine Properties Ent LLC
Entity
Mailing address
3941 W MOHAVE ST, PHOENIX, AZ 85009-6600
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
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 15, 2020
—
Imagine Properties Ent LLC
—
Deed
related
$13,000,000 · Washington Fed'l Bk
Jun 2, 2017
$11,625,000
Imagine Properties Ent LLC
Desert Palms Holding LLC
Grant Deed
$8,718,750 · Ks Statebank
Jul 13, 2005
$38,500
Desert Palms Holding LLC
Desert Oceanside Holdings Ll
Grant Deed
—
—
—
Imagine Properties Ent LLC
—
Deed Of Trust
related
$13,000,000 · Washington Fed'l Bk
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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