MakeMe Estimate range: $23.3M to $34.5M (estimated market value range). This building's own 2025 recorded sale at $45M sits 55% above this estimate's midpoint, so we lead with the range rather than a single number. Computed as the county's full cash value of $21,889,769 times a 1.33 market ratio, measured from 527 retail sales in Phoenix within a 3,891-sale countywide calibration (since 2022-01, through 2026-06-29). Not an appraisal. How this estimate works.
lower confidence: 6 comparable sales within 3 miles; nearest 0.2 mi. This property type carries wider measured error; treat the estimate as a starting point. Recent sale check: this building sold for $45,000,000 in 2025; the estimate is about 35% apart. Treat the recorded trade as strong evidence alongside the model. Comparable-sale caveat: the estimate is 69% above the $185.91/SF median of the shown comparable sales.
Recorded arm's-length sales of similar buildings nearby; nearer and more recent sales rank first. The strongest 5 of 6 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.
Last sold: 2025-11-01 for $45,000,000 (recorded arm's-length sale).
Current ownership dates to 2025 per recorded transfers.
2025-11-01: $45,000,000 from KRG Phoenix LLC to Tierra Partners III LLC, rec. 250672797
Source: Maricopa County recorded sales extract; buyer and seller shown only when a company or organization. Individual names are withheld.
Value over time
Dark line: county assessed value per Maricopa County tax rolls. Blue line: our estimate; dashed years are a modeled backcast built from recorded arm's-length sales in the building's segment, not estimates published at the time, and years without enough sales stay unmodeled. The shaded range is the model's measured error band; about half of verified sales in the segment land inside it. Diamonds: recorded arm's-length sales. Not an appraisal. How this estimate works.
Land, site, and value history
Assessed value moved from $16,422,000 (2022) to $21,889,769 (2027), up 33% over 5 years, per county tax rolls. The 2027 roll splits $21,889,769 into $11,811,800 land and $10,077,969 improvements.