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Property profile & analytics
OFF-MARKET
Estimated value
$2,215,000
Warehouses
1217 Gibson Ln, Phoenix, AZ 85034-5611
Entity Owned
15-yr Hold
Free & Clear
Property ID
US07-2663704
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1996
Total area
11,250 SF
Lot
0.95 ac (41,328 SF)
Zoning code
A-2
APN
115-36-043
UPID
US07-2663704
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
-
Advance Terrazzo Co Construction Company General Contractor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.22M
Blend (final)
Blend
$2.22M
Owner & transaction history
Thor Properties 1217 LLC · 15 yrs held
Thor Properties 1217 LLC
since 2010
5 recorded transactions
Zoning & alternative use
A-2 · Phoenix, AZ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$3.4M
+43.0%
Medical building
$3.0M
+27.4%
Neighborhood: shopping center
$2.9M
+22.2%
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 Phoenix submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Phoenix 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
WAREHOUSE, STORAGE
$2,345,000
Current use
RETAIL STORES
$3,350,000
Change: +43% · Conversion: Moderate
MEDICAL BUILDING
$2,985,000
Change: +27% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$2,865,000
Change: +22% · Conversion: Moderate
Blend value · Realmo final
$2.22M
Range $1.99M – $2.44M · ±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
$197 / 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
$13,870
Tax year 2023
Assessed value
$228,707
Assessed 2024
Previous assessed
$228,707
+0.0% YoY
Effective rate
6.06%
On assessed value
Land market value
$354,400
Improvement market value
$1,031,700
Total market value
$1,386,100
Applied tax rate
11,300.0000
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
1996
Heating
PACKAGE
Cooling
YES
Stories
1
Total area
11,250 SF
Lot
0.95 ac (41,328 SF)
Zoning code
A-2
APN
115-36-043
UPID
US07-2663704
Jurisdiction
MARICOPA
Zoning & alternative use
A-2 · Phoenix, AZ
Zoning A-2 · permitted uses
A-2 · Phoenix, AZ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Phoenix. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$2.3M
RETAIL STORES
Est. value
$3.4M
MEDICAL BUILDING
Est. value
$3.0M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$2.9M
WAREHOUSE, STORAGE Current
RETAIL STORES
MEDICAL BUILDING
NEIGHBORHOOD: SHOPPING CENTER
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
1996
Heating
PACKAGE
Cooling
Yes
Stories
1
Lot
0.95 ac
Current owner
From public records · entity-resolved
Thor Properties 1217 LLC
Entity
Free & Clear · 15 yrs held
Mailing address
1217 E GIBSON LN, PHOENIX, AZ 85034-5611
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2010
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
Jan 22, 2025
—
Thor Properties 1217 LLC
—
Deed
related
$250,000 · Pmb Fund I LLC
May 2, 2016
—
Thor Properties 1217 LLC
—
Deed
related
$398,769 · Arizona Bank & Trust
Nov 1, 2010
$98,075
Thor Properties 1217 LLC
Thornham Bruce B Trust
Grant Deed
—
Oct 14, 2005
—
Mlt Trust
Thornham,michael J & Lois J
Grant Deed
related
—
Jun 7, 1994
—
Bruce B Thornham
Anderson
Quit Claim Deed
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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