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Property profile & analytics
FOR LEASE
Strip malls
8840 S Kyrene Rd Tempe, AZ 85284
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US07-0877406
For Lease
1 / 2
$13,850,000
8840 S Kyrene Rd, Tempe, AZ 85284
View Listing →
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1989
Construction
CONCRETE
Total area
27,070 SF
Lot
5.75 ac (250,306 SF)
Zoning code
PCC-2
APN
301-60-991
UPID
US07-0877406
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$13.85M
Owner & transaction history
D S Khurana INC · 4 yrs held
D S Khurana INC
since 2022
Last sale
$11.5M
6 recorded transactions
Zoning & alternative use
PCC-2 · Tempe, AZ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$18.9M
+38.8%
Auto repair, garage
$18.6M
+36.9%
Industrial (general)
$14.3M
+5.3%
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
$10,525,000
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
$13,590,000
Current use
RESTAURANT
$18,870,000
Change: +39% · Conversion: Difficult
AUTO REPAIR, GARAGE
$18,610,000
Change: +37% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$14,310,000
Change: +5% · Conversion: Difficult
RETAIL STORES
$14,255,000
Change: +5% · Conversion: Easy
Blend value · Realmo final
$13.85M
Range $12.47M – $15.24M · ±10% · vs last sale $11.50M (Jun 17 2022)
Last sale anchor
$11.50M
Jun 17 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
$512 / 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
$92,291
Tax year 2023
Assessed value
$1,244,578
Assessed 2024
Previous assessed
$1,093,219
+13.8% YoY
Effective rate
7.42%
On assessed value
Land market value
$3,475,200
Improvement market value
$4,250,300
Total market value
$7,725,500
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
For Lease
Year built
1989
Construction
CONCRETE
Heating
PACKAGE
Cooling
YES
Buildings
4
Stories
1
Units
4
Total area
27,070 SF
Lot
5.75 ac (250,306 SF)
Zoning code
PCC-2
APN
301-60-991
UPID
US07-0877406
Jurisdiction
MARICOPA
Zoning & alternative use
PCC-2 · Tempe, AZ
Zoning PCC-2 · permitted uses
PCC-2 · 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
$13.6M
RESTAURANT
Est. value
$18.9M
AUTO REPAIR, GARAGE
Est. value
$18.6M
INDUSTRIAL (GENERAL)
Est. value
$14.3M
RETAIL STORES
Est. value
$14.3M
NEIGHBORHOOD: SHOPPING CENTER Current
RESTAURANT
AUTO REPAIR, GARAGE
INDUSTRIAL (GENERAL)
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
1989
Construction
CONCRETE
Heating
PACKAGE
Cooling
Yes
Stories
1
Buildings
4
Units
4
Lot
5.75 ac
Current owner
From public records · entity-resolved
D S Khurana INC
Entity
Mailing address
965 E UNIVERSITY DR, TEMPE, AZ 85288-4205
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
Jun 17, 2022
$11,500,000
D S Khurana INC
Arizona Pecan Grove LLC
Special Warranty Deed
—
Mar 6, 2013
—
Arizona Pecan Grove LLC
Dobson Bay Club II Dd LLC
Special Warranty Deed
$22,000,000 · Loan Opportunity Fund I LLC
Oct 28, 2010
—
Dobson Bay Club II Dd LLC
—
Deed Of Trust
related
$28,600,000 · Canadian Imperial Bank Commerc
Oct 28, 2009
—
Dobson Bay Club II Dd LLC
—
Deed Of Trust
related
$28,600,000 · Canadian Imperial Bank Commerc
Sep 11, 2006
$9,400,000
Dobson Bay Club II Dd LLC
Pecan Grove Festival LLC
Grant Deed
—
—
—
Arizona Pecan Grove LLC
—
Deed Of Trust
related
$5,800,000 · Miscellaneous Ins Co
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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