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    Property profile & analytics

    6135 N 35Th Ave Phoenix, AZ 85017

    • Turn key restaurants
    • 5,419 SF
    • 15.25 lot acres
    For Lease
    View listing
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US07-1114815
    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

    • Zia Records (Bethany Home - Phoenix) / Video Game Store / Book Store
    • Davi Nails / Nail Salon
    • J & Gios Barbershop / Barber Shop
    • Kelly D. Nails & Spa / Nail Salon
    • Sally Beauty / Beauty Supply Store / Barber Supply Store

    Property Details for 6135 N 35Th Ave

    Year built
    1977
    Construction
    CONCRETE
    Lot size
    15.25 lot acres
    Property size
    5,419 SF
    Zone code
    C-2
    Property type
    Turn key restaurants
    APN
    152-18-003N
    APU
    15218003N

    Description

    Grand Canyon Crossing, a vibrant retail strip center in Phoenix, Arizona, presents a prime opportunity for discerning businesses. Located at 6135 & 6145 N 35th Ave, 85017, this property boasts a total of 105,316 square feet of retail space within a substantial 664,490 square foot lot in Maricopa County. Currently, there is 3,000 square feet of immediately available space, perfect for a variety of retail uses. The minimum divisible space is also 3,000 square feet, offering flexibility for expansion or consolidation. This multi-tenant center is conveniently situated off Bethany Home Road, providing excellent visibility and accessibility to a thriving customer base. The property's size and location make it an ideal investment for businesses seeking a strong presence in a dynamic Phoenix neighborhood. The ample lot size offers potential for future development or expansion. This is a rare opportunity to secure retail space in a well-established center with significant potential for growth and return on investment. The property is categorized as a retail strip center and is situated in a high-traffic area, promising strong foot traffic and visibility for your business. Don't miss this chance to establish your business in this desirable location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Phoenix
    County
    Maricopa
    State
    Arizona
    Longitude
    -112.131
    Latitude
    33.527
    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
    $266,682
    $0.00
    $0.00
    $2,770,185
    -
    $3,589,200
    $13,199,800
    $16,789,000

    Comparable in this City

    • Value Estimation by Request
      4,188 SF

      3308 Grand Ave

      RESTAURANT • 4,188 SF
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    • Value Estimation by Request
      4,200 SF

      2624 Bethany Home Rd

      RESTAURANT • 4,200 SF
      2624 Bethany Home Rd, Phoenix, AZ 85017-2104
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      4131 27th Ave

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      $755,000
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      2620 Indian School Rd

      RESTAURANT • 5,292 SF
      2620 Indian School Rd, Phoenix, AZ 85017
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    • Value Estimation by Request
      1,317 SF

      3210 Grand Ave

      RESTAURANT • 1,317 SF
      3210 Grand Ave, Phoenix, AZ 85017-4504
      View Details
    • Value Estimation by Request
      7,845 SF

      2525 Bethany Home Rd

      RESTAURANT • 7,845 SF
      2525 Bethany Home Rd, Phoenix, AZ 85017-2120
      View Details

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    Similar Nearby for Lease

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      6,000 SF retail/showroom space with frontage and signage.
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      Retail Space in High-Density Area

      Retail space with high visibility in a densely populated area.
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      Retail Space on Thomas Road

      Retail space with high visibility and easy highway access.
      2901 W Thomas Rd, Phoenix, AZ 85017
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    Phoenix, AZ 85017
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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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