231 W Thomas Rd, Phoenix, AZ 85013

Retail · Phoenix · Phoenix metro, AZ

One of 7,090 reachable retail buildings in Phoenix. Larger than 47% of retail buildings in Phoenix (median 4,017 SF), derived from assessor records.

County gross building area
3,715 SF, Maricopa County Assessor
Lot size
21,780 SF, Maricopa County Assessor
Year built
1997, Maricopa County Assessor
Stories
1, Maricopa County Assessor
Buildings on parcel
2, Maricopa County Assessor
Predominant use
Restaurant Sit Down, Maricopa County Assessor
Assessed value
$1,797,115, per the Maricopa County Assessor (not a market appraisal)
Assessed value per building SF
$483.75/SF, derived from assessor records
Building area / lot
0.17, derived from assessor records
Vintage
1990s vintage
County use code
RESTAURANT SIT DOWN

Nearby comparable buildings

Same building type, by distance. Assessor facts only; not an opinion of value.

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Sale history and market context

MakeMe Estimate: $2.39M (estimated market value), with a likely range of $1.91M to $2.83M (half of recent verified sales in this segment landed inside that range). Computed as the county's full cash value of $1,797,115 times a 1.33 market ratio, measured from 3891 verified arm's-length sale prices vs county values (retail sales in Phoenix, through 2026-06-29). Not an appraisal. How this estimate works.

lower confidence: 57 comparable sales within 3 miles; nearest 0.7 mi. This property type carries wider measured error; treat the estimate as a starting point. Comparable-sale caveat: the estimate is 28% below the $887.74/SF median of the shown comparable sales.

Comparable sales used as evidence

Recorded arm's-length sales of similar buildings nearby; nearer and more recent sales rank first. The strongest 5 of 57 nearby verified sales are shown. Buyer and seller names are withheld. Get this data via API.

Market context: Retail in Phoenix

median verified sale $306.02/SF over the trailing 24 months; 133 sales in the last 12 months and 261 in 24 (newest verified sale 2026-05); the middle 80% of recent sales traded at 0.84x to 2.57x their county full cash value, median 1.48x (261 sales with usable county values).

  • 2022: $229.28/SF median (156 sales)
  • 2023: $281.69/SF median (120 sales)
  • 2024: $278.84/SF median (138 sales)
  • 2025: $309.52/SF median (134 sales)
  • 2026 YTD: $376.65/SF median (35 sales)

This estimate sits at 1.33x county full cash value, the 39th percentile of those recent sale premiums.

Computed from 2,143 verified arm's-length sales in Maricopa County public records (261 in the trailing 24 months). Free public records. Not an appraisal.

Value over time

$0$1M$2M$3M20262027$2.39M$1.8MCounty assessed value

Dark line: county assessed value per Maricopa County tax rolls.

Land, site, and value history

Assessed value moved from $1,968,829 (2026) to $1,797,116 (2027), down 9% over 1 years, per county tax rolls. The 2027 roll splits $1,797,116 into $1,306,800 land and $490,315 improvements.