Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$590,000
Grocery and convenience stores
8385 Grand Ave Peoria, AZ 85345-8191
Entity Owned
8-yr Hold
Free & Clear
Property ID
US07-1207755
Property profile
Verified
Property type
Grocery and convenience stores
Use group
CONVENIENCE STORE
Year built
1970
Construction
CONCRETE
Total area
2,460 SF
Lot
0.53 ac (23,087 SF)
Zoning code
C-3
APN
142-42-041Q
UPID
US07-1207755
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
-
Cabinet Granite & Floor Store Kitchen & Bath Showroom Hardware & Home Improvement
-
El Pechocho Restaurant
-
HireQuest Direct of Peoria Employment Agency
-
Pescaderia Playas de Guaymas Seafood Market Specialty Food Shop Fish Market
-
CCO Appliance Repair Home Appliance Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$767k
Blend (final)
Blend
$590k
Owner & transaction history
Iconic Properties LLC · 8 yrs held
Iconic Properties LLC
since 2018
6 recorded transactions
Zoning & alternative use
C-3 · Peoria, AZ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
Central Commercial District (C-3). The C-3 District is intended to accommodate retail and service establishments in the original plat of Peoria, what is now called the 'Old Town' area. While the C-3 District is intended for buildings to be grouped together in compact arrangements in order to provide maximum shopping convenience and efficient use of off-stree…
Zone name
Central Commercial
General category
COMMERCIAL
Zone area
83.34 ac
Source
Chapter 21 ZONING
Top alternative use upside
Auto repair, garage
$1.0M
+8.0%
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 Peoria submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Peoria 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
$940,000
Current use
AUTO REPAIR, GARAGE
$1,015,000
Change: +8% · Conversion: Difficult
Blend value · Realmo final
$590k
Range $531k – $649k · ±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
$240 / 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
$4,702
Tax year 2023
Assessed value
$83,534
Assessed 2024
Previous assessed
$63,818
+30.9% YoY
Effective rate
5.63%
On assessed value
Land market value
$228,700
Improvement market value
$277,567
Total market value
$506,267
Applied tax rate
111,200.0000
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
Grocery and convenience stores
Use group
CONVENIENCE STORE
Status
Off-Market
Year built
1970
Construction
CONCRETE
Heating
HEAT PUMP
Buildings
2
Stories
1
Units
2
Total area
2,460 SF
Lot
0.53 ac (23,087 SF)
Zoning code
C-3
APN
142-42-041Q
UPID
US07-1207755
Jurisdiction
MARICOPA
Zoning & alternative use
C-3 · Peoria, AZZoning C-3 · permitted uses
C-3 · Peoria, AZ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
Central Commercial District (C-3). The C-3 District is intended to accommodate retail and service establishments in the original plat of Peoria, what is now called the 'Old Town' area. While the C-3 District is intended for buildings to be grouped together in compact arrangements in order to provide maximum shopping convenience and efficient use of off-street parking, the development standards contained herein recognize the existing characteristics of individually owned, small-lot business establishments. The regulations and development standards are designed to preserve adjacent residential amenities and to prohibit encroachment by more intensive commercial uses. G.
Zone name
Central Commercial
General category
COMMERCIAL
Zone area
83.34 ac
Source
Chapter 21 ZONING
Alternative use value scenarios
Repositioning upside vs current use
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$940,000
AUTO REPAIR, GARAGE
Est. value
$1.0M
NEIGHBORHOOD: SHOPPING CENTER Current
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
1970
Construction
CONCRETE
Heating
HEAT PUMP
Stories
1
Buildings
2
Units
2
Lot
0.53 ac
Current owner
From public records · entity-resolved
Iconic Properties LLC
Entity
Free & Clear · 8 yrs held
Mailing address
7 41ST AVE #222, SAN MATEO, CA 94403-5105
Ownership since
2018
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 2, 2018
—
Iconic Properties LLC
Fanucchi,john J
Warranty Deed
—
Mar 30, 2018
$556,000
John J Fanucchi
Sayegh,issa & Asmahan Trust
Grant Deed
$376,000 · Sayegh Issa & Asmahan Tr (pt)
Mar 26, 2010
—
Sayegh Issa & Ashmahan I Trust
Sayegh,issa & Ashmahan I
Quit Claim Deed
related
—
Dec 22, 2009
—
Sayegh Issa & Asmaham Trust
Sayegh,issa & Asmaham
Quit Claim Deed
related
—
Jul 17, 2002
—
Wagoner Plaza LLC
Perkins,wayne C & Preal
Grant Deed
related
—
Oct 6, 1994
$140,000
Issa Sayegh
Provident Bank
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 8385 Grand Ave?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
