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Property profile & analytics
OFF-MARKET
Estimated value
$385,000
Grocery and convenience stores
118 Gilbert Rd Gilbert, AZ 85234-5762
Individually Owned
28-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US07-0935866
Property profile
Verified
Property type
Grocery and convenience stores
Use group
CONVENIENCE STORE
Year built
1966
Construction
CONCRETE
Total area
2,633 SF
Lot
0.22 ac (9,750 SF)
Zoning code
HVC
APN
302-18-016A
UPID
US07-0935866
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
-
Gilbert Convenient Mart (Bike/Boat/Book/etc) Store Wine and Liquor Store
-
San Tan Fireworks Discount Store Party Supply Store
-
Covenant Health Corporate Office
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$720k
Blend (final)
Blend
$385k
Owner & transaction history
Salim Hanna · 28 yrs held
Salim Hanna
since 1998
5 recorded transactions
Zoning & alternative use
HVC · Gilbert, AZ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The Heritage Village Center zoning district celebrates the heart and history of Gilbert preserving history through architecture, art, and views of iconic landmarks that reference traditions of the communitys past. New development within this mixed use environment should be complementary to the existing context of the Heritage District.
Zone name
Heritage Village Center District
General category
MIXED_USE
Zone area
86.29 ac
Source
Realmo
Top alternative use upside
Retail stores
$965,000
+0.9%
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 Gilbert submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Gilbert 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
NEIGHBORHOOD: SHOPPING CENTER
$960,000
Current use
RETAIL STORES
$965,000
Change: +1% · Conversion: Easy
Blend value · Realmo final
$385k
Range $347k – $424k · ±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
$146 / 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 2022Property tax & assessments
Tax year 2022
Tax billed
$2,937
Tax year 2022
Assessed value
$57,559
Assessed 2024
Previous assessed
$45,475
+26.6% YoY
Effective rate
5.10%
On assessed value
Land market value
$189,700
Improvement market value
$159,142
Total market value
$348,842
Applied tax rate
410,600.0000
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
Grocery and convenience stores
Use group
CONVENIENCE STORE
Status
Off-Market
Year built
1966
Construction
CONCRETE
Heating
HEAT PUMP
Stories
1
Total area
2,633 SF
Lot
0.22 ac (9,750 SF)
Zoning code
HVC
APN
302-18-016A
UPID
US07-0935866
Jurisdiction
MARICOPA
Zoning & alternative use
HVC · Gilbert, AZZoning HVC · permitted uses
HVC · Gilbert, AZ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The Heritage Village Center zoning district celebrates the heart and history of Gilbert preserving history through architecture, art, and views of iconic landmarks that reference traditions of the communitys past. New development within this mixed use environment should be complementary to the existing context of the Heritage District.
Zone name
Heritage Village Center District
General category
MIXED_USE
Zone area
86.29 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$960,000
RETAIL STORES
Est. value
$965,000
NEIGHBORHOOD: SHOPPING CENTER Current
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
1966
Construction
CONCRETE
Heating
HEAT PUMP
Stories
1
Lot
0.22 ac
Current owner
From public records · entity-resolved
Salim Hanna
Individual
Mailing address
431 E PALO BREA CT, GILBERT, AZ 85296-1727
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
1998
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 23, 1998
$175,000
Salim Hanna
Ben Fatto LP
Grant Deed
$140,000 · Bank One NA
Feb 16, 1989
—
Cardon Elijah
Unknown
Grant Deed
related
—
—
—
Gluck L P Viel
—
Deed Of Trust
related
—
—
—
Fatto L P Ben
—
Deed Of Trust
related
—
—
—
Sorte L P Boa
—
Deed Of Trust
related
—
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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