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Property profile & analytics
OFF-MARKET
Estimated value
$27,815,000
Outlet malls
4735 Ray Rd, Phoenix, AZ 85044-6233
Entity Owned
7-yr Hold
~
Est. High Equity
Property ID
US07-1343409
Property profile
Verified
Property type
Outlet malls
Use group
WHOLESALE OUTLET, DISCOUNT STORE
Year built
1996
Construction
CONCRETE
Total area
50,910 SF
Lot
17.49 ac (761,947 SF)
Zoning code
C-2
APN
301-83-973
UPID
US07-1343409
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
-
Sprouts Farmers Market Grocery & Convenience Store Food Market
-
Michaels (Bike/Boat/Book/etc) Store
-
RAC Acceptance Furniture & Home Goods Home Decor Store
-
Michaels Custom Framing (Bike/Boat/Book/etc) Store Home Decor Store
-
Aqua-Tots Swim Schools Ahwatukee Swimming Facility Swimming Instructor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$28.07M
Blend (final)
Blend
$27.82M
Owner & transaction history
Dt Ahwatukee Foothills LLC · 7 yrs held
Dt Ahwatukee Foothills LLC
since 2018
5 recorded transactions
Zoning & alternative use
C-2 · Phoenix, AZ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$35.5M
+133.7%
Restaurant
$27.2M
+79.2%
Auto repair, garage
$21.5M
+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)
$35,455,000
Change: +134% · Conversion: Easy
RESTAURANT
$27,185,000
Change: +79% · Conversion: Easy
AUTO REPAIR, GARAGE
$21,510,000
Change: +42% · Conversion: Difficult
Blend value · Realmo final
$27.82M
Range $25.03M – $30.60M · ±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
$391,280
Tax year 2023
Assessed value
$5,481,680
Assessed 2024
Previous assessed
$4,833,627
+13.4% YoY
Effective rate
7.14%
On assessed value
Land market value
$17,628,100
Improvement market value
$15,594,200
Total market value
$33,222,300
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
Outlet malls
Use group
WHOLESALE OUTLET, DISCOUNT STORE
Status
Off-Market
Year built
1996
Construction
CONCRETE
Heating
PACKAGE
Cooling
YES
Buildings
7
Stories
1
Units
7
Total area
50,910 SF
Lot
17.49 ac (761,947 SF)
Zoning code
C-2
APN
301-83-973
UPID
US07-1343409
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
$35.5M
RESTAURANT
Est. value
$27.2M
AUTO REPAIR, GARAGE
Est. value
$21.5M
COMMERCIAL (GENERAL)
RESTAURANT
AUTO REPAIR, GARAGE
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
1996
Construction
CONCRETE
Heating
PACKAGE
Cooling
Yes
Stories
1
Buildings
7
Units
7
Lot
17.49 ac
Current owner
From public records · entity-resolved
Dt Ahwatukee Foothills LLC
Entity
Mailing address
3300 ENTERPRISE PKWY, BEACHWOOD, OH 44122-7200
Ownership since
2018
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 30, 2018
—
Dt Ahwatukee Foothills LLC
Ddra Ahwatukee Foothills LLC
Special Warranty Deed
$364,320,000 · Column Financial INC
Jul 14, 2005
—
Ddra Ahwatukee Foothills LLC
Ddra Community Centers Five
Quit Claim Deed
related
—
Sep 18, 1998
$10,000,000
Ddra Community Centers Five LP
Developers Diversified Corp
Trustees Deed
—
Sep 18, 1998
—
Developers Diversified Realty
Foothills Towne Center II INC
Trustees Deed
related
—
—
—
Foothills Towne Center II INC
—
Deed Of Trust
related
—
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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