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    Property profile & analytics

    4840 83rd Ave Phoenix, AZ 85033-1045

    • Strip malls
    • 6,500 SF
    • 0.63 lot acres
    OFF-MARKET
    Value Estimations
    $1,630,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US07-0398198
    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

    • Papa John's Pizza / Restaurant
    • Subway / Take-out & Catering
    • CUTS N CLIPPERS BARBER SHOP / Barber Shop
    • Western Union / Bank / Credit Union
    • Metro by T-Mobile / Mobile Phone Store / Electronics & Wireless Store

    Property Details for 4840 83rd Ave

    Year built
    2001
    Construction
    CONCRETE
    Lot size
    0.63 lot acres
    Property size
    6,500 SF
    Zone code
    C-1
    Property type
    Strip malls
    Property subtype
    Shopping centers
    APN
    102-19-975
    APU
    10219975

    Description

    This exceptional retail opportunity presents a 1,200 square foot space within a multi-tenant building at 4840 N 83rd Ave, Phoenix, Arizona, 85033. Built in 2002, the property boasts excellent frontage and visibility, situated directly across from a Safeway grocery store. The building is strategically located adjacent to well-established national retailers including AutoZone, Walgreens, and Ace Hardware. This PAD (Pad Adjacent to Dominant Tenant) benefits from the high traffic generated by these anchor tenants. Current occupants include Subway, MetroPCS, and Papa John's Pizza, creating a vibrant and successful retail environment. The property is zoned C-2, offering flexibility for a variety of retail uses. Monument signage is available, providing excellent branding opportunities. The location offers unparalleled convenience, being just two miles from State Farm Stadium and in close proximity to major transportation arteries, Loop 101 and I-10. The property's Maricopa County location (APN 102-19-975) ensures easy access to a large and diverse customer base. This is an ideal opportunity for a business seeking high visibility and strong foot traffic in a thriving commercial area.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,709,000
      Market price range: $762k - $2.99M
      AI Estimate
      $1,551,000
      Market price range: $702k - $2.67M

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $1,655,000
      Current use
      OFFICE BUILDING
      $1,950,000
      Change: +18% Conversion: Moderate
      RETAIL STORES
      $1,935,000
      Change: +17% Conversion: Easy
      MEDICAL BUILDING
      $1,725,000
      Change: +4% Conversion: Difficult
      WAREHOUSE, STORAGE
      $1,685,000
      Change: +2% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Phoenix
    County
    Maricopa
    State
    Arizona
    Longitude
    -112.238
    Latitude
    33.5072
    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
    $21,739
    $0.00
    $0.00
    $205,788
    -
    $309,800
    $937,401
    $1,247,201

    Comparable in this City

    • Value Estimation
      $2,285,000
      15,736 SF

      6544 Thomas Rd

      SHOPPING CENTER, STRIP CENTER • 15,736 SF
      6544 Thomas Rd, Phoenix, AZ 85033-5738
      View Details
    • Value Estimation
      $3,355,000
      10,656 SF

      3825 75th Ave

      SHOPPING CENTER, STRIP CENTER • 10,656 SF
      3825 75th Ave, Phoenix, AZ 85033-3700
      View Details
    • Value Estimation by Request
      12,850 SF

      4819 83rd Ave

      SHOPPING CENTER, STRIP CENTER • 12,850 SF
      4819 83rd Ave, Phoenix, AZ 85033-1047
      View Details
    • Value Estimation
      $1,275,000
      7,350 SF

      6602 Indian School Rd

      SHOPPING CENTER, STRIP CENTER • 7,350 SF
      6602 Indian School Rd, Phoenix, AZ 85033-3331
      View Details
    • Value Estimation
      $2,035,000
      7,513 SF

      7510 Thomas Rd

      SHOPPING CENTER, STRIP CENTER • 7,513 SF
      7510 Thomas Rd, Phoenix, AZ 85033-5437
      View Details
    • Value Estimation by Request
      2,850 SF

      8123 Indian School Rd

      SHOPPING CENTER, STRIP CENTER • 2,850 SF
      8123 Indian School Rd, Phoenix, AZ 85033
      View Details

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      West Phoenix Retail Opportunity

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      Commercial Land in Established Community

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    Similar Nearby for Lease

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      9,555 SF

      Retail Space with High Visibility

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      Retail space available in a Fry’s Marketplace anchored center.
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      Retail Space Near Major Intersections

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      High visibility retail space with frontage on Indian School Road.
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      View Details
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    4840 83rd Ave
    Phoenix, AZ 85033-1045
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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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