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Property profile & analytics
OFF-MARKET
Estimated value
$1,545,000
Medical Office Space
1502 Tucson Blvd, Tucson, AZ 85716-3423
Entity Owned
5-yr Hold
~
Est. High Equity
Property ID
US07-3487208
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL CLINIC
Year built
1986
Construction
FRAME
Total area
6,795 SF
Lot
0.61 ac (26,600 SF)
APN
123-03-1050
UPID
US07-3487208
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
-
Hodges Eye Care and Surgical Center Ophthalmologist
-
Cheryl E. Schmitt, OD Physician
-
Hodges Eye Care and Surgical Center - Dr. Timothy Hodges Ophthalmologist
-
Amine Medical Clinic
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$2.08M
CAP Approach
CAP
$1.39M
Comparable Approach
Comparable
$1.03M
Blend (final)
Blend
$1.55M
Owner & transaction history
Fall Creek Partners 4 LLC · 5 yrs held
Fall Creek Partners 4 LLC
since 2020
Last sale
$1.7M
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$2.0M
+83.3%
Neighborhood: shopping center
$2.0M
+81.1%
Auto repair, garage
$1.9M
+70.4%
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 Tucson submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Tucson 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
$2,050,000
ML approach
$2,075,000
CAP Approach
CAP Return
Estimation
6%
$1,510,000
6.5%
$1,390,000
7%
$1,295,000
Alternative Use
Use
Estimation
MEDICAL BUILDING
$1,085,000
Current use
COMMERCIAL (GENERAL)
$1,990,000
Change: +83% · Conversion: Easy
NEIGHBORHOOD: SHOPPING CENTER
$1,965,000
Change: +81% · Conversion: Difficult
AUTO REPAIR, GARAGE
$1,850,000
Change: +70% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$1,400,000
Change: +29% · Conversion: Difficult
RETAIL STORES
$1,290,000
Change: +19% · Conversion: Difficult
Blend value · Realmo final
$1.55M
Range $1.39M – $1.70M · ±10% · vs last sale $1.67M (Nov 30 2020)
Last sale anchor
$1.67M
Nov 30 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
$227 / 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
$19,288
Tax year 2023
Assessed value
$138,781
Assessed 2024
Previous assessed
$130,627
+6.2% YoY
Effective rate
13.90%
On assessed value
Assessed land
$27,930
Assessed improvement
$110,851
Land market value
$186,200
Improvement market value
$739,007
Total market value
$925,207
Applied tax rate
150.0000
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 CLINIC
Status
Off-Market
Year built
1986
Construction
FRAME
Heating
YES
Cooling
YES
Stories
1
Total area
6,795 SF
Lot
0.61 ac (26,600 SF)
APN
123-03-1050
UPID
US07-3487208
Jurisdiction
PIMA
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
MEDICAL BUILDING Current
Est. value
$1.1M
COMMERCIAL (GENERAL)
Est. value
$2.0M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$2.0M
AUTO REPAIR, GARAGE
Est. value
$1.9M
INDUSTRIAL (GENERAL)
Est. value
$1.4M
RETAIL STORES
Est. value
$1.3M
MEDICAL BUILDING Current
COMMERCIAL (GENERAL)
NEIGHBORHOOD: SHOPPING CENTER
AUTO REPAIR, GARAGE
INDUSTRIAL (GENERAL)
RETAIL STORES
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
FRAME
Heating
YES
Cooling
Yes
Stories
1
Lot
0.61 ac
Current owner
From public records · entity-resolved
Fall Creek Partners 4 LLC
Entity
Mailing address
31772 OWL RD, EUGENE, OR 97405-9547
Ownership since
2020
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
Nov 30, 2020
$1,670,000
Fall Creek Partners 4 LLC
Tlh Investments LLC
Warranty Deed
$1,252,500 · Washington Fed'l Bk
Dec 10, 2018
—
Tlh Investments LLC
Tlh & Abh Properties LLC
Quit Claim Deed
related
$1,336,000 · National Bk/az
Aug 2, 2018
—
Tlh & Abh Properties LLC
Bevels,angela
Quit Claim Deed
related
—
Jun 29, 2004
—
Tlh & Abh Properties LLC
Hodges Eye Care & Surgical Ctr
Grant Deed
related
—
Apr 7, 2004
—
Tlh & Abh Properties LLC
Hodges,timothy L
Quit Claim Deed
related
—
Jun 12, 2003
$1,700,000
Hodges Eye Care & Surgical Ctr
Grimm I Family LP
Grant Deed
$1,120,000 · Bank Of Tucson
Feb 25, 2003
—
Grimm I Family LP
Grimm,s F & Eleanor
Quit Claim Deed
related
—
—
—
Tlh & Abh Properties LLC
—
Deed Of Trust
related
$1,120,000 · Wells Fargo Bank
—
—
Tlh & Abh Properties LLC
—
Deed Of Trust
related
$900,000 · Bank Of America
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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