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Property profile & analytics
OFF-MARKET
Estimated value
$985,000
Office buildings
12040 91st Ave Peoria, AZ 85345-8122
Entity Owned
9-yr Hold
~
Est. High Equity
Property ID
US07-0071752
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1971
Construction
CONCRETE
Total area
3,640 SF
Lot
3.35 ac (145,926 SF)
Zoning code
I-1
APN
142-49-030D
UPID
US07-0071752
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
-
Herc Rentals (Bike/Boat/Book/etc) Store Rental Equipment Company
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.08M
Blend (final)
Blend
$985k
Owner & transaction history
Catalpa Industrial Park INC · 9 yrs held
Catalpa Industrial Park INC
since 2017
7 recorded transactions
Zoning & alternative use
I-1 · Peoria, AZ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$1.5M
+137.6%
Neighborhood: shopping center
$1.4M
+120.0%
Medical building
$880,000
+39.7%
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 Peoria submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Peoria 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
OFFICE BUILDING
$630,000
Current use
AUTO REPAIR, GARAGE
$1,500,000
Change: +138% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$1,390,000
Change: +120% · Conversion: Difficult
MEDICAL BUILDING
$880,000
Change: +40% · Conversion: Easy
WAREHOUSE, STORAGE
$745,000
Change: +18% · Conversion: Difficult
Blend value · Realmo final
$985k
Range $887k – $1.08M · ±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
$271 / 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
$18,391
Tax year 2023
Assessed value
$525,278
Assessed 2024
Previous assessed
$483,208
+8.7% YoY
Effective rate
3.50%
On assessed value
Land market value
$1,776,100
Improvement market value
$1,407,400
Total market value
$3,183,500
Applied tax rate
111,200.0000
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
Off-Market
Year built
1971
Construction
CONCRETE
Heating
PACKAGE
Cooling
YES
Stories
1
Total area
3,640 SF
Lot
3.35 ac (145,926 SF)
Zoning code
I-1
APN
142-49-030D
UPID
US07-0071752
Jurisdiction
MARICOPA
Zoning & alternative use
I-1 · Peoria, AZ
Zoning I-1 · permitted uses
I-1 · Peoria, AZ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Peoria. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$630,000
AUTO REPAIR, GARAGE
Est. value
$1.5M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.4M
MEDICAL BUILDING
Est. value
$880,000
WAREHOUSE, STORAGE
Est. value
$745,000
OFFICE BUILDING Current
AUTO REPAIR, GARAGE
NEIGHBORHOOD: SHOPPING CENTER
MEDICAL BUILDING
WAREHOUSE, STORAGE
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
1971
Construction
CONCRETE
Heating
PACKAGE
Cooling
Yes
Stories
1
Lot
3.35 ac
Current owner
From public records · entity-resolved
Catalpa Industrial Park INC
Entity
Mailing address
6501 E EL MARO CIR, PARADISE VALLEY, AZ 85253-2633
Ownership since
2017
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 27, 2017
$2,600,000
Catalpa Industrial Park INC
91st Avenue Offramp LLC
Grant Deed
—
Dec 23, 2003
$1,036,140
91st Ave Offramp LLC
Marsden,richard E & Wilma J
Grant Deed
$800,000 · Bank Of The Southwest
Aug 30, 2002
$750,000
Richard E Marsden
Gs & Pe LLC
Grant Deed
$600,000 · Bank Of America
Jun 7, 2002
—
Gs & Pe LLC
Snyder,gill F & Patricia S
Grant Deed
related
—
—
—
91st Avenue Offramp LLC
—
Deed Of Trust
related
$100,000 · Bank Of The Southwest
—
—
91st Avenue Offramp LLC
—
Deed Of Trust
related
$100,000 · Bank Of The Southwest
—
—
91st Avenue Offramp LLC
—
Deed Of Trust
related
$1,175,000 · American Equity Inv Life Ins
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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