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Property profile & analytics
OFF-MARKET
Estimated value
$2,685,000
Strip malls
12133 Bell Rd Surprise, AZ 85378-9409
Entity Owned
~
Est. High Equity
Property ID
US07-1074082
Property summary
AI-generated overview
The Bernini Building, located at 12133 W Bell Rd in Surprise, Arizona (zip code 85378), offers a unique opportunity for businesses seeking a well-maintained retail or office space. This two-story building, constructed in 2003, boasts a total of 12,000 square feet, with one suite currently available. The vacant space comprises 2,718 contiguous square feet, ideal for a variety of uses. The building features an exterior elevator for convenient access to both floors. Its PAD zoning allows for flexibility in tenant improvements and operations. The property benefits from its high-visibility location on busy Bell Road, strategically situated between the Loop 101 and 303 freeways, ensuring excellent accessibility and high traffic exposure. The building is attractively landscaped and situated near a variety of retail establishments and restaurants, providing a vibrant and convenient environment for both employees and customers. The building's single suite configuration offers a unique opportunity for a single tenant to occupy the entire available space.
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
2002
Construction
CONCRETE
Total area
12,568 SF
Lot
0.72 ac (31,367 SF)
Zoning code
PAD
APN
501-24-012E
UPID
US07-1074082
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
$2.98M
Comparable Approach
Comparable
$3.71M
Blend (final)
Blend
$2.69M
Owner & transaction history
Kl Alexander Properties LLC
Kl Alexander Properties LLC
since 2025
Last sale
$2.2M
7 recorded transactions
Zoning & alternative use
PAD · Surprise, AZ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$4.2M
+6.5%
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
$1,765,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$3,225,000
6.5%
$2,980,000
7%
$2,765,000
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$3,970,000
Current use
RETAIL STORES
$4,230,000
Change: +7% · Conversion: Easy
MEDICAL BUILDING
$3,200,000
Change: -19% · Conversion: Difficult
Blend value · Realmo final
$2.69M
Range $2.42M – $2.95M · ±10% · vs last sale $2.15M (Oct 21 2020)
Last sale anchor
$2.15M
Oct 21 2020
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
$214 / 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
$16,500
Tax year 2023
Assessed value
$400,163
Assessed 2024
Previous assessed
$352,359
+13.6% YoY
Effective rate
4.12%
On assessed value
Land market value
$707,800
Improvement market value
$1,717,429
Total market value
$2,425,229
Applied tax rate
891,508.0000
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
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
Off-Market
Year built
2002
Construction
CONCRETE
Heating
PACKAGE
Cooling
YES
Stories
2
Total area
12,568 SF
Lot
0.72 ac (31,367 SF)
Zoning code
PAD
APN
501-24-012E
UPID
US07-1074082
Jurisdiction
MARICOPA
Zoning & alternative use
PAD · Surprise, AZ
Zoning PAD · permitted uses
PAD · 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
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$4.0M
RETAIL STORES
Est. value
$4.2M
MEDICAL BUILDING
Est. value
$3.2M
NEIGHBORHOOD: SHOPPING CENTER Current
RETAIL STORES
MEDICAL BUILDING
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
2002
Construction
CONCRETE
Heating
PACKAGE
Cooling
Yes
Stories
2
Lot
0.72 ac
Current owner
From public records · entity-resolved
Kl Alexander Properties LLC
Entity
Mailing address
PO BOX 1040, SERGEANT BLUFF, IA 51054-1040
Ownership since
2025
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
Nov 14, 2025
—
Kl Alexander Properties LLC
K&l Properties
Warranty Deed
$2,100,000 · Capital Fund I LLC
Jul 2, 2025
$2,150,000
K & L Properties LLC
Bernini Holdings Lllp
Deed
related
—
Jul 1, 2025
—
K & L Properties LLC
Bernini Holdings Lllp
Deed
related
—
Oct 21, 2020
$2,150,000
K & L Properties LLC
Bernini Holdings Lllp
Warranty Deed
—
Apr 17, 2013
—
Bernini Holdings Lllp
Carey,william
Grant Deed
related
—
Aug 1, 2012
$800,000
Carey,william
Bernini LLP
Grant Deed
—
Mar 19, 2004
—
Bernini Limited Partnership
De La Pava D & V
Quit Claim Deed
related
$1,427,000 · Wells Fargo Bank
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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