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    Property profile & analytics

    5109 Thomas Rd, Unit 100 Phoenix, AZ 85031-3944

    • Outlet malls
    • 21,440 SF
    • 7.33 lot acres
    OFF-MARKET
    Value Estimations
    $11,715,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US07-0552677
    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

    • Chevys Appliances / Home Appliance Store / Hardware & Home Improvement
    • dd's DISCOUNTS / Department Store / Discount Store
    • Salon de fiestas: Palacio Real Reception Hall / Wedding Service
    • Rassa Abdollahzadeh / Dental Office
    • Martin Sobieraj / Dental Office

    Property Details for 5109 Thomas Rd

    Year built
    1975
    Construction
    CONCRETE
    Lot size
    7.33 lot acres
    Property size
    21,440 SF
    Zone code
    C-2
    Property type
    Outlet malls
    Property subtype
    Shopping centers
    APN
    103-54-095S
    APU
    10354095S

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $11,819,000
      Market price range: $2.52M - $11.8M
      AI Estimate
      $11,610,000
      Market price range: $2.46M - $11.6M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $14,930,000
      RESTAURANT
      $11,450,000
      AUTO REPAIR, GARAGE
      $9,060,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Phoenix
    County
    Maricopa
    State
    Arizona
    Longitude
    -112.17
    Latitude
    33.4793
    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
    $87,417
    $0.00
    $0.00
    $1,325,844
    -
    $3,239,800
    $4,795,621
    $8,035,421

    Comparable in this City

    • Value Estimation
      $3,830,000
      15,500 SF

      5235 Indian School Rd

      WHOLESALE OUTLET, DISCOUNT STORE • 15,500 SF
      5235 Indian School Rd, Phoenix, AZ 85031-2604
      View Details
    • Value Estimation
      $18,000,000
      115,050 SF

      4848 43rd Ave

      WHOLESALE OUTLET, DISCOUNT STORE • 115,050 SF
      4848 43rd Ave, Phoenix, AZ 85031-1503
      View Details
    • Value Estimation
      $3,455,000
      10,408 SF

      5251 Indian School Rd

      WHOLESALE OUTLET, DISCOUNT STORE • 10,408 SF
      5251 Indian School Rd, Phoenix, AZ 85031-2604
      View Details
    • Value Estimation
      $800,000
      5,880 SF

      3939 43rd Ave

      WHOLESALE OUTLET, DISCOUNT STORE • 5,880 SF
      3939 43rd Ave, Phoenix, AZ 85031-2943
      View Details
    • Value Estimation
      $1,140,000
      6,950 SF

      5243 Indian School Rd

      SHOPPING CENTER, STRIP CENTER • 6,950 SF
      5243 Indian School Rd, Phoenix, AZ 85031-2610
      View Details
    • Value Estimation by Request
      15,000 SF

      4344 Indian School Rd

      SHOPPING CENTER, STRIP CENTER • 15,000 SF
      4344 Indian School Rd, Phoenix, AZ 85031-2984
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      2,009 SF

      Phoenix Retail Space For Sale

      Retail space with a 5-year lease extension in Phoenix.
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    • $1,750,000
      9,258 SF

      Medical/Retail Condo in Phoenix, AZ

      Medical/retail condo with build-out and shell space available for sale.
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      View Details
    • Contact for pricing
      1,025 SF

      Redevelopment Opportunity in Phoenix

      Commercial land available for redevelopment in a densely populated area.
      4301 W Indian School Rd, Phoenix, AZ 85031
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    • Contact for pricing

      Phoenix Land Near Loop 202

      Land for sale near Loop 202 and future Power Center.
      9108 S 58Th Dr, Phoenix, AZ 85031
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    • $179,000

      Commercial Land Near New Development

      Commercial land available near new development in a neighborhood setting.
      4719 W Thomas Rd, Phoenix, AZ 85031
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    • Contact for pricing
      1,160 SF

      Phoenix 55+ Community Home

      Home in a vibrant Phoenix 55+ gated community.
      5201 W Camelback Rd, Phoenix, AZ 85031
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    Similar Nearby for Lease

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      12,000 SF

      Retail Space in Phoenix Center

      Retail space available in shopping center anchored by Los Altos.
      5802-5830 W Thomas Rd, Phoenix, AZ 85031
      View Details
    • Contact for pricing
      3,800 SF

      Retail Space Available For Lease

      Retail space available for lease in high-traffic area.
      5802 W Thomas Rd, Phoenix, AZ 85031
      View Details
    • $14 SF/Yr

      Retail Suites For Lease

      Retail suites available for lease in Phoenix, Arizona.
      4324 W Indian School Rd, Phoenix, AZ 85031
      View Details
    • Contact for pricing

      Retail Suites For Lease

      Retail suites available for lease in Phoenix, Arizona.
      4324 W Indian School Rd, Phoenix, AZ 85031
      View Details
    • Contact for pricing

      Retail Space Available For Lease

      Retail space for lease at 4105 N. 51st Avenue.
      4105 N 51St Ave, Phoenix, AZ 85031
      View Details
    • Contact for pricing
      995 SF

      Arcadia Lite Retail Space

      Retail space available for lease in Arcadia Lite.
      4502 E Thomas Rd, Phoenix, AZ 85031
      View Details
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    Phoenix, AZ 85031-3944
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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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