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Property profile & analytics
OFF-MARKET
Estimated value
$3,450,000
Strip malls
506 Western Ave Avondale, AZ 85323-2422
Entity Owned
11-yr Hold
~
Est. High Equity
Property ID
US07-0410265
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
2008
Construction
CONCRETE
Total area
13,546 SF
Lot
0.42 ac (18,483 SF)
Zoning code
OTAB
APN
500-20-117A
UPID
US07-0410265
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
-
Proverbs Group Home LLC Nursing Home Social Service Agency
-
Mi Panaderia Bakery Specialty Food Shop
-
Ben's Carpet & Tile Cleaning Services General Contractor
-
Midway Staffing Business Service Center Employment Agency
-
Carnitas Michoacanas Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$3.62M
Blend (final)
Blend
$3.45M
Owner & transaction history
Proverbs Group Hm LLC Hm Ll · 11 yrs held
Proverbs Group Hm LLC Hm Ll
since 2014
5 recorded transactions
Zoning & alternative use
OTAB · Avondale, AZ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
100' Parking Setback from Residential District or Use* 25' 25' 25' 25' 25' Maximum Accessory Structure Height 15' 15' 15' 15' 15' * Not applicable to manufactured home parks. 28-57 - Old Town Avondale Business District (OTAB). (a) Purpose. The purpose of the Old Town Avondale Business District (OTAB) is to further the revitalization of the city's original to…
Zone name
Old Town Avondale Business
General category
COMMERCIAL
Zone area
29.52 ac
Source
code of ordinances
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 Avondale submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Avondale 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
$4,280,000
Current use
MEDICAL BUILDING
$3,450,000
Change: -19% · Conversion: Difficult
Blend value · Realmo final
$3.45M
Range $3.11M – $3.80M · ±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
$255 / 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
$18,138
Tax year 2023
Assessed value
$390,951
Assessed 2024
Previous assessed
$336,583
+16.2% YoY
Effective rate
4.64%
On assessed value
Land market value
$172,400
Improvement market value
$2,197,000
Total market value
$2,369,400
Applied tax rate
440,100.0000
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
Off-Market
Year built
2008
Construction
CONCRETE
Heating
HEAT PUMP
Buildings
2
Stories
1
Units
2
Total area
13,546 SF
Lot
0.42 ac (18,483 SF)
Zoning code
OTAB
APN
500-20-117A
UPID
US07-0410265
Jurisdiction
MARICOPA
Zoning & alternative use
OTAB · Avondale, AZZoning OTAB · permitted uses
OTAB · Avondale, AZ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
100' Parking Setback from Residential District or Use* 25' 25' 25' 25' 25' Maximum Accessory Structure Height 15' 15' 15' 15' 15' * Not applicable to manufactured home parks. 28-57 - Old Town Avondale Business District (OTAB). (a) Purpose. The purpose of the Old Town Avondale Business District (OTAB) is to further the revitalization of the city's original town site and its immediate vicinity by encouraging pedestrian-oriented development an
Zone name
Old Town Avondale Business
General category
COMMERCIAL
Zone area
29.52 ac
Source
code of ordinances
Alternative use value scenarios
Repositioning upside vs current use
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$4.3M
MEDICAL BUILDING
Est. value
$3.5M
NEIGHBORHOOD: SHOPPING CENTER Current
MEDICAL BUILDING
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
2008
Construction
CONCRETE
Heating
HEAT PUMP
Stories
1
Buildings
2
Units
2
Lot
0.42 ac
Current owner
From public records · entity-resolved
Proverbs Group Hm LLC Hm Ll
Entity
Mailing address
4716 W MALDONADO RD, LAVEEN, AZ 85339-8213
Ownership since
2014
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
Jan 27, 2022
—
Proverbs Group Home LLC
—
Deed
related
$1,000,000 · Silver Hill Financial LLC
Jul 30, 2014
$420,000
Proverbs Group Hm LLC Hm Ll
Cml-az Blue Ridge LLC
Grant Deed
$300,000 · Kenyon Homes INC
Dec 20, 2010
$330,000
Cml-az Sterling LLC
Hameed,azim Q
Trustees Deed
—
Jan 8, 2007
—
Sterling Plaza West LLC
Sterling Ridge Investments LLC
Quit Claim Deed
related
$2,250,000 · Choice Bank INC
Nov 16, 2004
$185,000
Sterling Ridge Investments LLC
Pojo Ents INC
Grant Deed
$145,000 · Pojo Ents INC
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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