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Property profile & analytics
OFF-MARKET
Estimated value
$2,405,000
Warehouses
1315 Hobson St Gilbert, AZ 85233
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US07-0806043
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1998
Construction
CONCRETE
Total area
8,126 SF
Lot
0.46 ac (20,253 SF)
Zoning code
LI
APN
302-11-131
UPID
US07-0806043
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
$1.92M
Blend (final)
Blend
$2.41M
Owner & transaction history
1580 Magnolia LLC · 3 yrs held
1580 Magnolia LLC
since 2023
Last sale
$2.8M
5 recorded transactions
Zoning & alternative use
LI · Gilbert, AZ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$3.6M
+147.8%
Retail stores
$3.0M
+104.9%
Neighborhood: shopping center
$3.0M
+103.1%
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
$2,640,000
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
$1,455,000
Current use
AUTO REPAIR, GARAGE
$3,610,000
Change: +148% · Conversion: Easy
RETAIL STORES
$2,985,000
Change: +105% · Conversion: Moderate
NEIGHBORHOOD: SHOPPING CENTER
$2,955,000
Change: +103% · Conversion: Moderate
MEDICAL BUILDING
$2,075,000
Change: +43% · Conversion: Difficult
OFFICE BUILDING
$1,810,000
Change: +24% · Conversion: Difficult
Blend value · Realmo final
$2.41M
Range $2.16M – $2.65M · ±10% · vs last sale $2.78M (Jul 12 2023)
Last sale anchor
$2.78M
Jul 12 2023
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
$296 / 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
$11,075
Tax year 2023
Assessed value
$242,781
Assessed 2024
Previous assessed
$208,930
+16.2% YoY
Effective rate
4.56%
On assessed value
Land market value
$151,200
Improvement market value
$1,320,200
Total market value
$1,471,400
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
1998
Construction
CONCRETE
Heating
HEAT PUMP
Cooling
EVAPORATIVE
Stories
1
Total area
8,126 SF
Lot
0.46 ac (20,253 SF)
Zoning code
LI
APN
302-11-131
UPID
US07-0806043
Jurisdiction
MARICOPA
Zoning & alternative use
LI · Gilbert, AZ
Zoning LI · permitted uses
LI · Gilbert, AZ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Gilbert. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$1.5M
AUTO REPAIR, GARAGE
Est. value
$3.6M
RETAIL STORES
Est. value
$3.0M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$3.0M
MEDICAL BUILDING
Est. value
$2.1M
OFFICE BUILDING
Est. value
$1.8M
WAREHOUSE, STORAGE Current
AUTO REPAIR, GARAGE
RETAIL STORES
NEIGHBORHOOD: SHOPPING CENTER
MEDICAL BUILDING
OFFICE 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
1998
Construction
CONCRETE
Heating
HEAT PUMP
Cooling
Yes
Stories
1
Lot
0.46 ac
Current owner
From public records · entity-resolved
1580 Magnolia LLC
Entity
Mailing address
1880 N EL CAMINO REAL SPC #15, SAN CLEMENTE, CA 92672-4901
Ownership since
2023
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 12, 2023
$2,775,000
1580 Magnolia LLC
Coxboys4 LLC
Special Warranty Deed
$725,000 · Desert Financial Cu
Sep 16, 2020
$1,100,000
Coxboys4 LLC
Jpc Investments LLC
Warranty Deed
$1,134,200 · Celtic Bank Corporation
Feb 28, 2020
—
Jpc Investments LLC
—
Deed
related
$453,400 · Wells Fargo Bank NA
Mar 10, 2004
—
Jpc Investments LLC
Cox,charles T & Vanessa K
Grant Deed
$688,000 · Wells Fargo Bank
—
—
Jpc Investments LLC
—
Deed Of Trust
related
$150,000 · 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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