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Property profile & analytics
FOR LEASE
Strip malls
42407 N Vision Way Phoenix, AZ 85086
Individually Owned
6-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US07-1251872
For Lease
1 / 6
$6,650,000
42407 N Vision Way, Phoenix, AZ 85086
View Listing →
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
2005
Construction
CONCRETE
Total area
25,600 SF
Lot
2.39 ac (103,938 SF)
Zoning code
C-2
APN
203-03-006
UPID
US07-1251872
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
-
Paul Phan Dental Office
-
Adore Nail Spa Nail Salon
-
Sunset Cyclery (Bike/Boat/Book/etc) Store
-
Livingston Hearing Aid Center Hearing Aid Store Audiologist
-
Anytime Fitness Gym & Fitness Center
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$6.97M
Blend (final)
Blend
$6.65M
Owner & transaction history
Randy A Gassett · 6 yrs held
Randy A Gassett
since 2020
4 recorded transactions
Zoning & alternative use
C-2 · Phoenix, AZ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The purpose C-2 zone is to provide commercial uses of medium intensity designed to be compatible with each other and to provide for a wide range of types of commercial activity within the district
Zone name
Intermediate Commercial
General category
COMMERCIAL
Zone area
13,095.06 ac
Source
Realmo
Top alternative use upside
Auto repair, garage
$10.8M
+66.0%
Retail stores
$7.6M
+17.1%
Medical building
$6.8M
+4.3%
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
$6,515,000
Current use
AUTO REPAIR, GARAGE
$10,815,000
Change: +66% · Conversion: Difficult
RETAIL STORES
$7,630,000
Change: +17% · Conversion: Easy
MEDICAL BUILDING
$6,795,000
Change: +4% · Conversion: Difficult
WAREHOUSE, STORAGE
$6,645,000
Change: +2% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$5,630,000
Change: -14% · Conversion: Difficult
Blend value · Realmo final
$6.65M
Range $5.99M – $7.32M · ±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
$260 / 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
$57,581
Tax year 2023
Assessed value
$839,075
Assessed 2024
Previous assessed
$743,036
+12.9% YoY
Effective rate
6.86%
On assessed value
Land market value
$1,145,100
Improvement market value
$3,940,200
Total market value
$5,085,300
Applied tax rate
971,300.0000
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
2005
Construction
CONCRETE
Heating
PACKAGE
Cooling
YES
Stories
1
Total area
25,600 SF
Lot
2.39 ac (103,938 SF)
Zoning code
C-2
APN
203-03-006
UPID
US07-1251872
Jurisdiction
MARICOPA
Zoning & alternative use
C-2 · Phoenix, AZZoning 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
Zoning description
The purpose C-2 zone is to provide commercial uses of medium intensity designed to be compatible with each other and to provide for a wide range of types of commercial activity within the district
Zone name
Intermediate Commercial
General category
COMMERCIAL
Zone area
13,095.06 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$6.5M
AUTO REPAIR, GARAGE
Est. value
$10.8M
RETAIL STORES
Est. value
$7.6M
MEDICAL BUILDING
Est. value
$6.8M
WAREHOUSE, STORAGE
Est. value
$6.6M
INDUSTRIAL (GENERAL)
Est. value
$5.6M
NEIGHBORHOOD: SHOPPING CENTER Current
AUTO REPAIR, GARAGE
RETAIL STORES
MEDICAL BUILDING
WAREHOUSE, STORAGE
INDUSTRIAL (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
2005
Construction
CONCRETE
Heating
PACKAGE
Cooling
Yes
Stories
1
Lot
2.39 ac
Current owner
From public records · entity-resolved
Randy A Gassett
Individual
Mailing address
9654 E MTN SPG RD, SCOTTSDALE, AZ 85255-6639
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2020
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
Jan 15, 2020
—
Randy A Gassett
Ionel D Zagrean
Warranty Deed
related
—
Jun 30, 2016
$2,700,000
Centerpoint Plaza LLC
Beka IV LLC
Grant Deed
—
Jan 11, 2005
—
Beka IV LLC
—
Trustees Deed
related
$3,845,000 · Stockmen's Bank
Dec 2, 2003
$600,000
Beka IV LLC
Anthem Arizona LLC
Grant Deed
—
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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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