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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    9617 N Metro Pkwy W Phoenix, AZ 85051

    • Super regional malls
    • 80,767 SF
    • 40.37 lot acres
    For Lease
    View listing
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US07-1396213
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Pop Shots Photo / Portrait Studio
    • Metro Barber Shop / Barber Shop
    • GAMESQ, PLC / Law Firm / Personal Injury Attorney
    • Varsity Contractors / General Contractor
    • Tom Sowash / Optometrist

    Property Details for 9617 N Metro Pkwy W

    Year built
    1973
    Construction
    STEEL FRAME
    Lot size
    40.37 lot acres
    Property size
    80,767 SF
    Zone code
    C-R
    Property type
    Super regional malls
    APN
    149-16-005
    APU
    14916005

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $20,065,000
      6.5%
      $18,520,000
      7%
      $17,195,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $26,604,000
      Market price range: $9.46M - $37.2M
      AI Estimate
      $24,144,000
      Market price range: $8.72M - $33.2M

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $20,560,000
      Current use
      AUTO REPAIR, GARAGE
      $34,130,000
      Change: +66% Conversion: Difficult
      OFFICE BUILDING
      $24,240,000
      Change: +18% Conversion: Moderate
      RETAIL STORES
      $24,065,000
      Change: +17% Conversion: Easy
      MEDICAL BUILDING
      $21,440,000
      Change: +4% Conversion: Difficult
      WAREHOUSE, STORAGE
      $20,960,000
      Change: +2% Conversion: Difficult

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Phoenix
    County
    Maricopa
    State
    Arizona
    Longitude
    -112.122
    Latitude
    33.5752
    CBSA code
    38060
    CBSA name
    PHOENIX-MESA-SCOTTSDALE, AZ METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2016
    $532,294
    $1,113,552
    $2,089,008
    $3,202,560
    -
    $6,186,400
    $11,605,598
    $17,791,998

    Comparable in this City

    • Value Estimation
      $20,560,000
      80,767 SF

      9817 Metro W Pkwy

      REGIONAL SHOPPING CENTER, MALL • 80,767 SF
      9817 Metro W Pkwy, Phoenix, AZ 85051
      View Details
    • Value Estimation by Request
      107,420 SF

      9801 Metro E Pkwy

      REGIONAL SHOPPING CENTER, MALL • 107,420 SF
      9801 Metro E Pkwy, Phoenix, AZ 85051-1513
      View Details
    • Value Estimation
      $18,105,000
      156,418 SF

      9600 Metro W Pkwy

      REGIONAL SHOPPING CENTER, MALL • 156,418 SF
      9600 Metro W Pkwy, Phoenix, AZ 85051-1402
      View Details
    • Value Estimation
      $17,000,000
      181,834 SF

      9813 Metro E Pkwy

      REGIONAL SHOPPING CENTER, MALL • 181,834 SF
      9813 Metro E Pkwy, Phoenix, AZ 85051
      View Details
    • Value Estimation
      $23,820,000
      211,578 SF

      9803 Metro W Pkwy

      REGIONAL SHOPPING CENTER, MALL • 211,578 SF
      9803 Metro W Pkwy, Phoenix, AZ 85051
      View Details
    • Value Estimation
      $2,670,000
      6,197 SF

      10460 28th Dr

      SHOPPING CENTER, STRIP CENTER • 6,197 SF
      10460 28th Dr, Phoenix, AZ 85051-1505
      View Details

    Similar Nearby for Sale

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      Fully renovated single-level townhome with modern style and high-end finishes.
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      Royal Palm Medical Office Plaza

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      Phoenix Medical Office Investment

      Net-leased medical office, strong tenant.
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    Similar Nearby for Lease

    • Contact for pricing
      6,977 SF

      Metro Center Mall Retail Space

      6,977 SF retail space available in Metro Center Mall.
      10225 N Metro Pkwy E, Phoenix, AZ 85051
      View Details
    • $14 SF/Yr
      11,000 SF

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      1,000 SF Retail Space Available
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      View Details
    • Contact for pricing
      77,425 SF

      Retail Space in High-Traffic Area

      Flexible space suitable for retail, office, or service-based businesses.
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      View Details
    • Contact for pricing
      64,193 SF

      Metrocenter Redevelopment Retail Opportunity

      Retail space available within the Metrocenter redevelopment project.
      9446 N Metro Pkwy W, Phoenix, AZ 85051
      View Details
    • Contact for pricing
      119,400 SF

      Retail Space at The Loop

      119,400 SF of leasable retail space available.
      9617 N Metro Pkwy W, Phoenix, AZ 85051
      View Details
    • Contact for pricing
      7,000 SF

      Colony at Metro Retail Space

      Prime Retail Space, Metro Phoenix Area
      9001 29Th Ave, Phoenix, AZ 85051
      View Details
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    Phoenix, AZ 85051
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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