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Property profile & analytics
OFF-MARKET
Estimated value
$7,680,000
Flex space
1503 San Pedro St Gilbert, AZ 85233-2401
Entity Owned
1-yr Hold
Absentee Owner
Free & Clear
Property ID
US07-0812216
Property profile
Verified
Property type
Flex space
Use group
LIGHT INDUSTRIAL
Year built
1987
Construction
STEEL FRAME
Total area
57,539 SF
Lot
1.28 ac (55,567 SF)
Zoning code
LI
APN
302-12-071
UPID
US07-0812216
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
-
Heritage Windows and Doors Industrial Manufacturer Production Facility
-
Airside MRO, Inc. Distribution Center Logistics Company
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$7.84M
Blend (final)
Blend
$7.68M
Owner & transaction history
Lrf3 Phx San Pedro St LLC · 1 yrs held
Lrf3 Phx San Pedro St LLC
since 2024
7 recorded transactions
Zoning & alternative use
LI · Gilbert, AZ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$12.8M
+44.9%
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
INDUSTRIAL (GENERAL)
$8,835,000
Current use
OFFICE BUILDING
$12,800,000
Change: +45% · Conversion: Difficult
Blend value · Realmo final
$7.68M
Range $6.91M – $8.45M · ±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
$133 / 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 2022Property tax & assessments
Tax year 2022
Tax billed
$36,860
Tax year 2022
Assessed value
$1,090,865
Assessed 2024
Previous assessed
$772,769
+41.2% YoY
Effective rate
3.38%
On assessed value
Land market value
$315,800
Improvement market value
$6,295,500
Total market value
$6,611,300
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
Flex space
Use group
LIGHT INDUSTRIAL
Status
Off-Market
Year built
1987
Construction
STEEL FRAME
Heating
PACKAGE
Cooling
YES
Stories
1
Total area
57,539 SF
Lot
1.28 ac (55,567 SF)
Zoning code
LI
APN
302-12-071
UPID
US07-0812216
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
INDUSTRIAL (GENERAL) Current
Est. value
$8.8M
OFFICE BUILDING
Est. value
$12.8M
INDUSTRIAL (GENERAL) Current
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
1987
Construction
STEEL FRAME
Heating
PACKAGE
Cooling
Yes
Stories
1
Lot
1.28 ac
Current owner
From public records · entity-resolved
Lrf3 Phx San Pedro St LLC
Entity
Free & Clear · 1 yrs held
Mailing address
100 CRES CT STE #850, DALLAS, TX 75201-6904
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
11 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 29, 2024
$17,000,000
Lrf3 Phx San Pedro St LLC
Sl Project Texas LP
Special Warranty Deed
—
Jan 12, 2023
—
Sl Project Texas LP
Sl Industrial Acquisition LP
Correction Deed
related
—
Sep 1, 2022
—
Sl Project Texas LP
Sl Industrial Acquisition LP
Special Warranty Deed
$375,000,000 · Truist Bank
Apr 4, 2022
$11,500,000
Sl Industrial Acquisition LP
Discover Investments Gilbert LLC
Special Warranty Deed
—
Apr 2, 2021
$6,269,700
Discover Investments Gilbert LLC
Weiland Sliding Doors And Windows I
Special Warranty Deed
—
Feb 26, 2009
—
Tashco Industries INC
—
Deed Of Trust
related
$2,250,000 · Comerica Bank
Aug 16, 2002
—
Tashco Industries INC
—
Deed Of Trust
related
$2,000,000 · Comerica Bank California
Jan 21, 1994
$216,910
Tashco Industries INC
Flashlights INC
Grant Deed
—
Dec 13, 1991
—
Security Flashli
Tashco Industrie
Grant Deed
related
—
Nov 1, 1991
—
Security Flashli
Tashco Industrie
Grant Deed
related
—
Jan 3, 1989
—
Tashco Industrie
—
Deed Of Trust
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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