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Property profile & analytics
FOR LEASE
Retail space
707 S Forest Ave Tempe, AZ 85281
Entity Owned
6-yr Hold
Absentee Owner
Property ID
US07-1339268
For Lease
1 / 12
$4,445,000
707 S Forest Ave, Tempe, AZ 85281
View Listing →
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
2021
Total area
4,656 SF
Lot
0.51 ac (22,315 SF)
Zoning code
CC
APN
132-27-772
UPID
US07-1339268
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
-
Rusty Taco Restaurant
-
Atmosphere Tempe Apartment Building Apartment Complex
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$4.45M
Blend (final)
Blend
$4.45M
Owner & transaction history
Az Asu Holdings LLC · 6 yrs held
Az Asu Holdings LLC
since 2019
6 recorded transactions
Zoning & alternative use
CC · Tempe, AZ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$3.2M
+30.5%
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
AUTO REPAIR, GARAGE
$3,200,000
Change: +31% · Conversion: Difficult
Blend value · Realmo final
$4.45M
Range $4.00M – $4.89M · ±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
$955 / 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
$591,407
Tax year 2023
Assessed value
$9,811,160
Assessed 2024
Effective rate
6.03%
On assessed value
Land market value
$19,622,300
Improvement market value
$78,489,300
Total market value
$98,111,600
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
For Lease
Year built
2021
Heating
NONE
Buildings
4
Stories
1
Total area
4,656 SF
Lot
0.51 ac (22,315 SF)
Zoning code
CC
APN
132-27-772
UPID
US07-1339268
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
AUTO REPAIR, GARAGE
Est. value
$3.2M
AUTO REPAIR, GARAGE
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
2021
Heating
NONE
Stories
1
Buildings
4
Lot
0.51 ac
Current owner
From public records · entity-resolved
Az Asu Holdings LLC
Entity
Mailing address
201 MAIN ST, LAFAYETTE, IN 47901-1277
Mailing matches property
Different — outreach signal
Owner-occupied
No
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
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 19, 2022
—
Az Asu Holdings LLC
—
Deed
related
$63,500,000 · Bmo Harris Bank NA
Dec 9, 2019
$6,975,000
Az Asu Holdings LLC
L & G Cannery LLC
Special Warranty Deed
$53,249,458 · Pnc Bank NA
May 23, 2008
$3,000,000
L & G Cannery LLC
Forest Partners LLC
Grant Deed
$1,500,000 · Charles & Barbara Lawrence
Apr 27, 2006
$1,000,000
Forest Partners LLC
Joseph Sidney S & R M Trust
Grant Deed
$2,030,000 · Home Nat'l Bk
May 25, 2000
—
Joseph Trust
Joseph,sidney S & Rose M
Quit Claim Deed
related
—
Apr 29, 1999
$850,000
Sidney S Joseph
Whipple Trust
Grant Deed
$250,000 · Seller
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
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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