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Property profile & analytics
FOR SALE
Outlet malls
5050 E Ray Rd, Phoenix, AZ 85044
Entity Owned
9-yr Hold
~
Est. High Equity
Property ID
US07-3376209
For Sale
1 / 3
$11,000,000
5050 E Ray Rd, Phoenix, AZ 85044
View Listing →
Property profile
Verified
Property type
Outlet malls
Use group
WHOLESALE OUTLET, DISCOUNT STORE
Year built
1990
Construction
CONCRETE
Total area
104,880 SF
Lot
8.66 ac (377,230 SF)
Zoning code
C-2
APN
301-59-471
UPID
US07-3376209
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
-
Lifetime Brakes Auto Repair Shop
-
JCPenney Portraits Photography Service (Bike/Boat/Book/etc) Store
-
JCPenney Clothing Store Department Store
-
JCPenney Salon Hair Salon Nail Salon
-
Primary Air Duct Cleaning Phoenix HVAC Service
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$21.22M
Blend (final)
Blend
$21.06M
Owner & transaction history
Grt Ray Jcp LLC · 9 yrs held
Grt Ray Jcp LLC
since 2016
6 recorded transactions
Zoning & alternative use
C-2 · Phoenix, 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 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
RETAIL STORES
$31,250,000
Current use
MEDICAL BUILDING
$27,840,000
Change: -11% · Conversion: Difficult
WAREHOUSE, STORAGE
$27,220,000
Change: -13% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$26,695,000
Change: -15% · Conversion: Moderate
Blend value · Realmo final
$21.06M
Range $18.95M – $23.16M · ±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
$201 / 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
$149,556
Tax year 2023
Assessed value
$2,227,500
Assessed 2024
Previous assessed
$1,994,576
+11.7% YoY
Effective rate
6.71%
On assessed value
Land market value
$8,682,100
Improvement market value
$4,817,900
Total market value
$13,500,000
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
For Sale
Year built
1990
Construction
CONCRETE
Heating
PACKAGE
Cooling
YES
Stories
1
Total area
104,880 SF
Lot
8.66 ac (377,230 SF)
Zoning code
C-2
APN
301-59-471
UPID
US07-3376209
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
RETAIL STORES Current
Est. value
$31.3M
MEDICAL BUILDING
Est. value
$27.8M
WAREHOUSE, STORAGE
Est. value
$27.2M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$26.7M
RETAIL STORES Current
MEDICAL BUILDING
WAREHOUSE, STORAGE
NEIGHBORHOOD: SHOPPING CENTER
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
1990
Construction
CONCRETE
Heating
PACKAGE
Cooling
Yes
Stories
1
Lot
8.66 ac
Current owner
From public records · entity-resolved
Grt Ray Jcp LLC
Entity
Mailing address
501 SANTA MONICA BLVD STE #701, SANTA MONICA, CA 90401-2483
Ownership since
2016
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 16, 2017
—
Grt Ray Jcp LLC
—
Deed
related
$5,425,000 · First Republic Bank
Jul 22, 2016
$10,850,000
Grt Ray Jcp LLC
Yorktown Corp
Grant Deed
—
Jun 9, 2006
$10,650,000
Yorktown Country Inn INC
Trecde 0561 LLC
Grant Deed
—
Dec 21, 2005
$13,000,000
Trecde 0561 LLC
Ct Operating Ptshp
Warranty Deed
—
Dec 27, 1993
$3,781,500
Alexander Hagen Properties Opera
Haagen Alhambra
Grant Deed
—
—
—
Heights Properties
—
Deed Of Trust
related
$3,000,000 · Wells Fargo 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
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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