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Property profile & analytics
OFF-MARKET
Estimated value
$10,730,000
Individual retail properties
15601 Bell Rd Surprise, AZ 85374-3060
Entity Owned
6-yr Hold
~
Est. High Equity
Property ID
US07-1325657
Property profile
Verified
Property type
Individual retail properties
Use group
GYM, HEALTH SPA
Year built
2005
Construction
CONCRETE
Total area
28,000 SF
Lot
7.93 ac (345,584 SF)
Zoning code
PAD
APN
501-77-968
UPID
US07-1325657
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
$10.73M
Blend (final)
Blend
$10.73M
Owner & transaction history
Mountain Vista 18 LP · 6 yrs held
Mountain Vista 18 LP
since 2019
5 recorded transactions
Zoning & alternative use
PAD · Surprise, AZ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
(PAD) zoning district prior to the adoption of this ordinance . The PAD zoning designation now serves only to preserve the governing entitlement documents adopted by city council for each PAD at the time of the adoption of this ordinance. Existing PADs may have individual development standards, land uses , and densities that supersede the zoning standards co…
Zone name
Planned Area Development
General category
PLANNED_DEVELOPMENT
Zone area
42,500.99 ac
Source
municipal code
Top alternative use upside
Retail stores
$17.9M
+134.1%
Restaurant
$17.3M
+126.5%
Auto repair, garage
$12.4M
+63.0%
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 Surprise submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Surprise 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
GYM, HEALTH SPA
$7,625,000
Current use
RETAIL STORES
$17,855,000
Change: +134% · Conversion: Difficult
RESTAURANT
$17,275,000
Change: +126% · Conversion: Difficult
AUTO REPAIR, GARAGE
$12,430,000
Change: +63% · Conversion: Difficult
MEDICAL BUILDING
$10,860,000
Change: +42% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$7,275,000
Change: -5% · Conversion: Difficult
Blend value · Realmo final
$10.73M
Range $9.66M – $11.80M · ±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
$383 / 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
$161,860
Tax year 2023
Assessed value
$2,364,825
Assessed 2024
Previous assessed
$2,018,563
+17.2% YoY
Effective rate
6.84%
On assessed value
Land market value
$4,289,200
Improvement market value
$10,043,070
Total market value
$14,332,270
Applied tax rate
891,503.0000
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
Individual retail properties
Use group
GYM, HEALTH SPA
Status
Off-Market
Year built
2005
Construction
CONCRETE
Heating
PACKAGE
Cooling
YES
Buildings
4
Stories
1
Units
4
Total area
28,000 SF
Lot
7.93 ac (345,584 SF)
Zoning code
PAD
APN
501-77-968
UPID
US07-1325657
Jurisdiction
MARICOPA
Zoning & alternative use
PAD · Surprise, AZZoning PAD · permitted uses
PAD · Surprise, AZ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
(PAD) zoning district prior to the adoption of this ordinance . The PAD zoning designation now serves only to preserve the governing entitlement documents adopted by city council for each PAD at the time of the adoption of this ordinance. Existing PADs may have individual development standards, land uses , and densities that supersede the zoning standards contained within this ordinance . Any zoning standard contained within this ordinance shall apply that is not explicitly identified in a PAD. General references to zoning district s within previous city zoning codes shall follow the conversion chart listed in Table 106-1b of this chapter. D. Standards and regulations such as, but not limited to, lot size, building height , residential densities , and setbacks herein, assure compatibility of properties within a district; protect the quality of the environment from nuisances associated with certain uses or constructions; and provide adequate open space for privacy, light, air, connectivity, and green space. ( Ord. No. 2024-03 , § 1(Exh. A), 3-5-24)
Zone name
Planned Area Development
General category
PLANNED_DEVELOPMENT
Zone area
42,500.99 ac
Source
municipal code
Alternative use value scenarios
Repositioning upside vs current use
GYM, HEALTH SPA Current
Est. value
$7.6M
RETAIL STORES
Est. value
$17.9M
RESTAURANT
Est. value
$17.3M
AUTO REPAIR, GARAGE
Est. value
$12.4M
MEDICAL BUILDING
Est. value
$10.9M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$7.3M
GYM, HEALTH SPA Current
RETAIL STORES
RESTAURANT
AUTO REPAIR, GARAGE
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
2005
Construction
CONCRETE
Heating
PACKAGE
Cooling
Yes
Stories
1
Buildings
4
Units
4
Lot
7.93 ac
Current owner
From public records · entity-resolved
Mountain Vista 18 LP
Entity
Mailing address
PO BOX 10, SCOTTSDALE, AZ 85252-0010
Ownership since
2019
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
Nov 5, 2019
$14,125,000
Mountain Vista 18 LP
15601 Bell Rd LLC
Warranty Deed
$10,250,000 · Citi Real Estae Funding INC
May 30, 2017
$9,300,000
15601 Bell Rd LLC
Macayo Derito-p Retail 1 L
Grant Deed
$8,100,000 · Rait Ptshp
Dec 27, 2013
$7,300,000
Macayo Derito-p Retail 1 Ll
Us Bank NA
Grant Deed
$24,971,000 · Alliance Bank Of Arizona
Feb 6, 2013
$7,600,000
Us Bank NA Series 2006-c2
Ghidotti Michelle
Trustees Deed
related
—
Mar 31, 2005
$378,500
Macayo Plaza LLC
Mac Properties
Grant Deed
$7,428,000 · Alliance Bank Of Arizona
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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