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Property profile & analytics
OFF-MARKET
Estimated value
$6,235,000
Drug stores
1055 Riggs Rd Chandler, AZ 85249-3670
Individually Owned
4-yr Hold
Absentee Owner
Free & Clear
Property ID
US07-0280658
Property profile
Verified
Property type
Drug stores
Use group
DRUG STORE, PHARMACY
Year built
2001
Construction
CONCRETE
Total area
15,120 SF
Lot
2.27 ac (98,743 SF)
Zoning code
PAD
APN
303-79-838
UPID
US07-0280658
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
-
Rodney Koenig, PAC Pharmacy
-
John P. Mcdonnell, R Pharmacy
-
Randall Koenig Pharmacy
-
Michelle Hong Pharmacy
-
Thorsen Martha S Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$6.23M
Blend (final)
Blend
$6.24M
Owner & transaction history
Kathryn M Ramseyer Noel · 4 yrs held
Kathryn M Ramseyer Noel
since 2022
3 recorded transactions
Zoning & alternative use
PAD · Chandler, AZ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
rezoning classification to be sought by, or to be applicable to, private interests for off-airport parcels or uses. Off-airport uses shall be considered under other zoning designations, such as Planned Area Development (PAD), as appropriate to particular needs and circumstances. (Ord. No. 3063, § 3, 11-18-99) 35-3101. - Uses permitted. The following uses sha…
Zone name
Planned Area Development
General category
RESIDENTIAL
Zone area
27,277.66 ac
Source
code of ordinances
Top alternative use upside
Neighborhood: shopping center
$9.6M
+40.5%
Restaurant
$7.8M
+14.8%
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 Chandler submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Chandler 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
RETAIL STORES
$6,835,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$9,600,000
Change: +40% · Conversion: Moderate
RESTAURANT
$7,845,000
Change: +15% · Conversion: Easy
AUTO REPAIR, GARAGE
$5,820,000
Change: -15% · Conversion: Difficult
Blend value · Realmo final
$6.24M
Range $5.61M – $6.86M · ±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
$412 / 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
$53,548
Tax year 2023
Assessed value
$625,360
Assessed 2024
Previous assessed
$545,751
+14.6% YoY
Effective rate
8.56%
On assessed value
Land market value
$1,402,900
Improvement market value
$2,387,162
Total market value
$3,790,062
Applied tax rate
800,306.0000
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
Drug stores
Use group
DRUG STORE, PHARMACY
Status
Off-Market
Year built
2001
Construction
CONCRETE
Heating
PACKAGE
Cooling
YES
Stories
1
Total area
15,120 SF
Lot
2.27 ac (98,743 SF)
Zoning code
PAD
APN
303-79-838
UPID
US07-0280658
Jurisdiction
MARICOPA
Zoning & alternative use
PAD · Chandler, AZZoning PAD · permitted uses
PAD · Chandler, AZ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
rezoning classification to be sought by, or to be applicable to, private interests for off-airport parcels or uses. Off-airport uses shall be considered under other zoning designations, such as Planned Area Development (PAD), as appropriate to particular needs and circumstances. (Ord. No. 3063, § 3, 11-18-99) 35-3101. - Uses permitted. The following uses shall be permitted within the AP-1 zoning district as principal uses: (1) Airport stru
Zone name
Planned Area Development
General category
RESIDENTIAL
Zone area
27,277.66 ac
Source
code of ordinances
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$6.8M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$9.6M
RESTAURANT
Est. value
$7.8M
AUTO REPAIR, GARAGE
Est. value
$5.8M
RETAIL STORES Current
NEIGHBORHOOD: SHOPPING CENTER
RESTAURANT
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
2001
Construction
CONCRETE
Heating
PACKAGE
Cooling
Yes
Stories
1
Lot
2.27 ac
Current owner
From public records · entity-resolved
Kathryn M Ramseyer Noel
Individual
Free & Clear · 4 yrs held
Mailing address
19762 MACARTHUR BLVD STE #100, IRVINE, CA 92612-2425
Mailing matches property
Different — outreach signal
Owner-occupied
No
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
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 5, 2022
—
Kathryn M Ramseyer Noel
Zg Holdings 6 LLC
Re-recorded Document
related
—
Nov 16, 2021
$4,480,500
Kathryn M Ramseyer Noel
Zg Holdings 6 LLC
Special Warranty Deed
$2,827,500 · Citizens Business Bank
Aug 28, 2020
$3,439,989
Zg Holdings 6 LLC
Wmb Brooks Properties Co
Special Warranty Deed
$2,407,000 · Desert Financial Cu
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.
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