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Property profile & analytics
OFF-MARKET
Estimated value
$2,165,000
Strip malls
720 Elliot Rd Tempe, AZ 85284-1211
Individually Owned
4-yr Hold
~
Est. High Equity
Property ID
US07-0300955
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
2002
Construction
CONCRETE
Total area
10,800 SF
Lot
0.92 ac (40,019 SF)
Zoning code
PCC-1
APN
301-90-027
UPID
US07-0300955
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
-
NAPA Auto Parts Auto Parts Store
-
AlphaGraphics South Tempe Marketing & Advertising Printing Service
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$2.31M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$2.17M
Owner & transaction history
Richard N Morrison · 4 yrs held
Richard N Morrison
since 2022
Last sale
$2.2M
6 recorded transactions
Zoning & alternative use
PCC-1 · Tempe, AZ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
$1,995,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$2,500,000
6.5%
$2,305,000
7%
$2,140,000
Blend value · Realmo final
$2.17M
Range $1.95M – $2.38M · ±10% · vs last sale $2.18M (Jul 8 2022)
Last sale anchor
$2.18M
Jul 8 2022
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
$200 / 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
$22,775
Tax year 2023
Assessed value
$334,785
Assessed 2024
Previous assessed
$291,601
+14.8% YoY
Effective rate
6.80%
On assessed value
Land market value
$692,900
Improvement market value
$1,336,098
Total market value
$2,028,998
Applied tax rate
281,600.0000
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
2002
Construction
CONCRETE
Heating
PACKAGE
Cooling
YES
Stories
1
Total area
10,800 SF
Lot
0.92 ac (40,019 SF)
Zoning code
PCC-1
APN
301-90-027
UPID
US07-0300955
Jurisdiction
MARICOPA
Zoning & alternative use
PCC-1 · Tempe, AZ
Zoning PCC-1 · permitted uses
PCC-1 · 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.
Building & site characteristics
From public records
Year built
2002
Construction
CONCRETE
Heating
PACKAGE
Cooling
Yes
Stories
1
Lot
0.92 ac
Current owner
From public records · entity-resolved
Richard N Morrison
Individual
Mailing address
720 W ELLIOT RD, TEMPE, AZ 85284-1211
Ownership since
2022
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
Jul 8, 2022
—
Richard N Morrison
Richard N Morrison
Intrafamily Transfer
related
—
Jul 31, 2020
—
Pde Investments LLC
—
Deed
related
$1,350,000 · First Fidelity Bank
Oct 23, 2019
—
Morrison,r N Living Trust
Richard N Morrison
Quit Claim Deed
related
—
Dec 23, 2005
$2,180,604
Pde Investments LLC
Lge Corp
Grant Deed
$2,000,000 · Sonoma National Bank
—
—
Pde Investments LLC
—
Deed Of Trust
related
$150,000 · Bank Of America
—
—
Pde Investments LLC
—
Deed Of Trust
related
$1,517,000 · Sonoma National Bank
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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