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Property profile & analytics
FOR LEASE
Office buildings
11321 W Bell Rd Surprise, AZ 85378
Entity Owned
1-yr Hold
~
Est. High Equity
Property ID
US07-3423315
For Lease
1 / 16
$3,135,000
11321 W Bell Rd, Surprise, AZ 85378
View Listing →
Property summary
AI-generated overview
This exceptional medical office building, located at 11321-11327 W Bell Rd in Surprise, Arizona (zip code 85378), offers a prime opportunity for medical professionals seeking flexible and modern workspace. The property, identified by APN 200-13-018M
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
2003
Construction
STEEL FRAME
Total area
5,778 SF
Lot
1.32 ac (57,377 SF)
Zoning code
C-2
APN
200-13-018N
UPID
US07-3423315
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
$2.42M
Blend (final)
Blend
$3.14M
Owner & transaction history
Nirfas Investments LLC · 1 yrs held
Nirfas Investments LLC
since 2024
Last sale
$3.9M
7 recorded transactions
Zoning & alternative use
C-2 · Surprise, AZ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$4.6M
+235.6%
Restaurant
$3.3M
+138.4%
Auto repair, garage
$2.6M
+85.7%
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 Surprise submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Surprise 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
COMMERCIAL (GENERAL)
$4,635,000
Change: +236% · Conversion: Easy
RESTAURANT
$3,295,000
Change: +138% · Conversion: Moderate
AUTO REPAIR, GARAGE
$2,565,000
Change: +86% · Conversion: Difficult
RETAIL STORES
$1,945,000
Change: +41% · Conversion: Moderate
Blend value · Realmo final
$3.14M
Range $2.82M – $3.45M · ±10% · vs last sale $3.85M (Jan 29 2021)
Last sale anchor
$3.85M
Jan 29 2021
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
$543 / 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
$29,043
Tax year 2023
Assessed value
$431,360
Assessed 2024
Previous assessed
$401,268
+7.5% YoY
Effective rate
6.73%
On assessed value
Land market value
$706,700
Improvement market value
$1,907,600
Total market value
$2,614,300
Applied tax rate
890,000.0000
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
Office buildings
Use group
OFFICE BUILDING
Status
For Lease
Year built
2003
Construction
STEEL FRAME
Heating
PACKAGE
Cooling
YES
Buildings
3
Stories
1
Units
3
Total area
5,778 SF
Lot
1.32 ac (57,377 SF)
Zoning code
C-2
APN
200-13-018N
UPID
US07-3423315
Jurisdiction
MARICOPA
Zoning & alternative use
C-2 · Surprise, AZ
Zoning C-2 · permitted uses
C-2 · Surprise, AZ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Surprise. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL)
Est. value
$4.6M
RESTAURANT
Est. value
$3.3M
AUTO REPAIR, GARAGE
Est. value
$2.6M
RETAIL STORES
Est. value
$1.9M
COMMERCIAL (GENERAL)
RESTAURANT
AUTO REPAIR, GARAGE
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
2003
Construction
STEEL FRAME
Heating
PACKAGE
Cooling
Yes
Stories
1
Buildings
3
Units
3
Lot
1.32 ac
Current owner
From public records · entity-resolved
Nirfas Investments LLC
Entity
Mailing address
7227 E BASELINE RD STE #104, MESA, AZ 85209-5005
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 26, 2024
—
Nirfas Investments LLC
Nirfas Investments LLC
Deed
related
—
Jan 29, 2021
$3,850,000
Nirfas Investments LLC
Walker Bell Rd LLC
Special Warranty Deed
$2,695,000 · Desert Financial Cu
Aug 14, 2019
—
Walker Bell Rd LLC
—
Loan Modification
related
$1,900,287 · Meadows Bk
Apr 11, 2019
$2,450,000
Walker Bell Rd LLC
Wtb 5 Enterprises LLC
Special Warranty Deed
$1,837,500 · Meadows Bank
Oct 19, 2016
—
Wtb 5 Ents LLC
Bassil Tatiana Living Trust
Grant Deed
related
—
Mar 21, 2013
—
Wtb Enterprises LLC
Tatiana Bassil
Warranty Deed
$1,700,000 · Republicbankaz NA
Mar 2, 2006
$4,575,000
Wtb 5 Ents LLC
Bassil Tatiana Trust
Deed Of Trust
$2,500,000 · Irwin Union Bank Fsb
Feb 7, 2006
$4,575,000
Bassil Tatiana Trust
Windsor Bell LLC
Grant Deed
—
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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