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Property profile & analytics
FOR SALE
Retail space
425 South Mill Ave Tempe, AZ 85281
Entity Owned
5-yr Hold
~
Est. High Equity
Property ID
US07-0412655
For Sale
1 / 24
Contact for pricing
425 South Mill Ave, Tempe, AZ 85281
View Listing →
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1979
Construction
CONCRETE
Total area
6,376 SF
Lot
0.28 ac (12,354 SF)
Zoning code
CC
APN
132-28-931
UPID
US07-0412655
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
-
Colour Style Bar Hair Salon
-
Comerica Bank Bank Loan Service
-
Elite on Mill Barber Shop
-
Elevate Tickets, LLC Rental Equipment Company Tech Support Center
-
SeaTec Aviation Consultant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Nicola South Mill LP · 5 yrs held
Nicola South Mill LP
since 2021
Last sale
$16.6M
7 recorded transactions
Zoning & alternative use
CC · Tempe, AZ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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 Tempe submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Tempe 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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
$86,022
Tax year 2023
Assessed value
$1,031,102
Assessed 2024
Previous assessed
$882,861
+16.8% YoY
Effective rate
8.34%
On assessed value
Land market value
$988,300
Improvement market value
$5,260,800
Total market value
$6,249,100
Applied tax rate
31,602.0000
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
For Sale
Year built
1979
Construction
CONCRETE
Heating
PACKAGE
Cooling
YES
Buildings
4
Stories
1
Units
3
Total area
6,376 SF
Lot
0.28 ac (12,354 SF)
Zoning code
CC
APN
132-28-931
UPID
US07-0412655
Jurisdiction
MARICOPA
Zoning & alternative use
CC · Tempe, AZ
Zoning CC · permitted uses
CC · Tempe, AZ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Tempe. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1979
Construction
CONCRETE
Heating
PACKAGE
Cooling
Yes
Stories
1
Buildings
4
Units
3
Lot
0.28 ac
Current owner
From public records · entity-resolved
Nicola South Mill LP
Entity
Mailing address
1508 W BROADWAY FL VANCOUVER XX
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
12 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 17, 2021
—
Nicola South Mill LP
—
Deed
related
$23,000,000 · Voya Investment Management LLC
Jun 17, 2021
$16,550,000
Nicola South Mill LP
Tempe 425 Mill LP
Special Warranty Deed
—
May 2, 2016
—
Tempe 425 Mill LP
—
Deed
related
—
Jan 15, 2016
$9,995,000
Tempe 425 Mill LP
425 S Mill LLC
Grant Deed
—
Aug 30, 2012
—
425 S Mill LLC
Plato Of Lee Trust
Grant Deed
—
Nov 30, 2009
—
Plato Of Lee Trust
—
Trustees Deed
related
$6,050,000 · Copper Star Bank
Feb 26, 2008
—
Donald J Plato
Owner Name Unavailable
Grant Deed
related
—
Feb 22, 2008
—
Plato-lee Trust
—
Trustees Deed
related
$2,300,000 · Copper Star Bank
Dec 28, 2006
—
Plato Of Lee Trust
Plato Of Lee Plato Trust
Quit Claim Deed
related
$2,300,000 · Copper Star Bank
Nov 14, 2002
$1,340,000
Plato/lee,tr
Wealth Properties I
Grant Deed
$1,140,000 · Scottsdale Community Bank
—
—
Plato Of Lee Trust
—
Deed Of Trust
related
$5,500,000 · Stearns Bank NA
—
—
Plato Of Lee Trust
—
Deed Of Trust
related
$300,000 · Copper Star Bank
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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