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Property profile & analytics
OFF-MARKET
Estimated value
$8,410,000
Strip malls
660 Ml Ave Tempe, AZ 85281-3665
Entity Owned
6-yr Hold
~
Est. High Equity
Property ID
US07-2274995
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1990
Construction
CONCRETE
Total area
10,396 SF
Lot
1.39 ac (60,440 SF)
Zoning code
CC
APN
132-30-722
UPID
US07-2274995
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
-
Seidman Research Institute University
-
Department of Research Administration University
-
Compiler Microarchitecture Lab Laboratory
-
Center for Science and the Imagination Academic Department School
-
Tempe Revenue Collections Department City Tax Office
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$8.57M
Blend (final)
Blend
$8.41M
Owner & transaction history
Centerpoint On Mill Invs LP · 6 yrs held
Centerpoint On Mill Invs LP
since 2019
3 recorded transactions
Zoning & alternative use
CC · Tempe, AZ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$7.2M
+38.8%
Auto repair, garage
$7.1M
+36.9%
Retail stores
$5.5M
+4.9%
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 Tempe submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Tempe 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
$5,220,000
Current use
RESTAURANT
$7,245,000
Change: +39% · Conversion: Difficult
AUTO REPAIR, GARAGE
$7,145,000
Change: +37% · Conversion: Difficult
RETAIL STORES
$5,475,000
Change: +5% · Conversion: Easy
Blend value · Realmo final
$8.41M
Range $7.57M – $9.25M · ±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
$809 / 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
$97,228
Tax year 2023
Assessed value
$1,212,846
Assessed 2024
Previous assessed
$985,881
+23.0% YoY
Effective rate
8.02%
On assessed value
Land market value
$4,795,100
Improvement market value
$2,555,483
Total market value
$7,350,583
Applied tax rate
31,602.0000
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
1990
Construction
CONCRETE
Heating
PACKAGE
Cooling
YES
Buildings
3
Stories
1
Units
3
Total area
10,396 SF
Lot
1.39 ac (60,440 SF)
Zoning code
CC
APN
132-30-722
UPID
US07-2274995
Jurisdiction
MARICOPA
Zoning & alternative use
CC · Tempe, AZ
Zoning CC · permitted uses
CC · Tempe, AZ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Tempe. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$5.2M
RESTAURANT
Est. value
$7.2M
AUTO REPAIR, GARAGE
Est. value
$7.1M
RETAIL STORES
Est. value
$5.5M
NEIGHBORHOOD: SHOPPING CENTER Current
RESTAURANT
AUTO REPAIR, GARAGE
RETAIL STORES
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
Buildings
3
Units
3
Lot
1.39 ac
Current owner
From public records · entity-resolved
Centerpoint On Mill Invs LP
Entity
Mailing address
290-700 6TH CALGARY AVE SW XX
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2019
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 12, 2019
$60,000,000
Centerpoint On Mill Invs LP
Mill Avenue Retail LLC
Trustees Deed
related
$36,250,000 · Gim Com'l Mtg Ln Fund LP
Sep 30, 2013
$38,350,000
Mill Avenue Retail LLC
Centerpoint Holdings LLC
Grant Deed
—
Nov 12, 2010
$11,400,000
Arizona State University
Centerpoint Holdings LLC
Grant Deed
—
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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