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Property profile & analytics
OFF-MARKET
Estimated value
$1,360,000
Medical Office Space
1400 Gilbert Rd, Gilbert, AZ 85234-2328
Entity Owned
10-yr Hold
~
Est. High Equity
Property ID
US07-1502783
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1986
Construction
CONCRETE
Total area
3,699 SF
Lot
1.14 ac (49,702 SF)
Zoning code
C-O
APN
304-10-962
UPID
US07-1502783
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
-
Arthur Kerle Medical Clinic
-
Dr. Robert Austin Dental Office
-
Dr. Alan Petersen Dental Office
-
Matthew Fletcher Physician
-
Dr. Gregory Manning Dental Office
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.36M
Blend (final)
Blend
$1.36M
Owner & transaction history
Community Investments LLC · 10 yrs held
Community Investments LLC
since 2016
7 recorded transactions
Zoning & alternative use
C-O · Gilbert, AZ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$1.6M
+73.7%
Retail stores
$1.4M
+43.6%
Neighborhood: shopping center
$1.3M
+42.4%
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
MEDICAL BUILDING
$945,000
Current use
AUTO REPAIR, GARAGE
$1,640,000
Change: +74% · Conversion: Difficult
RETAIL STORES
$1,360,000
Change: +44% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$1,345,000
Change: +42% · Conversion: Difficult
Blend value · Realmo final
$1.36M
Range $1.22M – $1.50M · ±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
$368 / 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
$19,084
Tax year 2023
Assessed value
$325,611
Assessed 2024
Previous assessed
$282,693
+15.2% YoY
Effective rate
5.86%
On assessed value
Land market value
$654,200
Improvement market value
$1,319,200
Total market value
$1,973,400
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
1986
Construction
CONCRETE
Heating
HEAT PUMP
Buildings
2
Stories
1
Units
2
Total area
3,699 SF
Lot
1.14 ac (49,702 SF)
Zoning code
C-O
APN
304-10-962
UPID
US07-1502783
Jurisdiction
MARICOPA
Zoning & alternative use
C-O · Gilbert, AZ
Zoning C-O · permitted uses
C-O · 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
MEDICAL BUILDING Current
Est. value
$945,000
AUTO REPAIR, GARAGE
Est. value
$1.6M
RETAIL STORES
Est. value
$1.4M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.3M
MEDICAL BUILDING Current
AUTO REPAIR, GARAGE
RETAIL STORES
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
1986
Construction
CONCRETE
Heating
HEAT PUMP
Stories
1
Buildings
2
Units
2
Lot
1.14 ac
Current owner
From public records · entity-resolved
Community Investments LLC
Entity
Mailing address
4343 MARKET ST, RIVERSIDE, CA 92501-3500
Ownership since
2016
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 15, 2016
$3,220,000
Community Investments LLC
Gilbert Cove Props LLC
Grant Deed
$1,000,000 · 4d Market Street LLC
Oct 30, 2003
$2,840,000
Gilbert Cove Properties LLC
Rampart Apartments LLC
Grant Deed
—
Jun 6, 2003
$2,840,000
Rampart Apartments LLC
Day,david M & Shanna
Grant Deed
—
Apr 18, 2002
$2,100,000
David M Day
Olson-arizona Investments LLC
Grant Deed
$1,575,000 · Tierone Bank
Aug 18, 1998
$862,500
Olson-arizona Investments LLC
Summers Rnach INC
Trustees Deed
—
Aug 18, 1998
—
Olson-arizona Investments LLC
Gilbert Road Investors Ltd
Trustees Deed
$1,500,000 · Standard Mortgage Investors
—
—
Community Investments LLC
—
Deed Of Trust
related
$1,000,000 · Private Individual
—
—
Rampart Apartments LLC
—
Deed Of Trust
related
$2,130,000 · Wells Fargo Bank Arizona
—
—
Gilbert Cove Properties LLC
—
Deed Of Trust
related
$1,596,000 · 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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