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Property profile & analytics
OFF-MARKET
Estimated value
$2,935,000
Flex space
1640 Sunrise Blvd, Gilbert, AZ 85233-5006
Trust Owned
27-yr Hold
~
Est. High Equity
Property ID
US07-0548703
Property profile
Verified
Property type
Flex space
Use group
LIGHT INDUSTRIAL
Year built
1996
Construction
CONCRETE
Total area
14,866 SF
Lot
2.45 ac (106,560 SF)
Zoning code
LI
APN
302-23-015
UPID
US07-0548703
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
-
Custom Products Industrial Manufacturer Production Facility
-
Mesa Custom Machining Corporation Industrial Manufacturer
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.93M
Blend (final)
Blend
$2.94M
Owner & transaction history
Carpenter Trust · 27 yrs held
Carpenter Trust
since 1999
7 recorded transactions
Zoning & alternative use
LI · Gilbert, AZ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$3.8M
+66.5%
Office building
$3.3M
+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)
$2,280,000
Current use
MEDICAL BUILDING
$3,800,000
Change: +66% · Conversion: Difficult
OFFICE BUILDING
$3,305,000
Change: +45% · Conversion: Difficult
Blend value · Realmo final
$2.94M
Range $2.64M – $3.23M · ±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
$197 / 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
$35,154
Tax year 2023
Assessed value
$750,189
Assessed 2024
Previous assessed
$623,543
+20.3% YoY
Effective rate
4.69%
On assessed value
Land market value
$1,009,900
Improvement market value
$3,536,700
Total market value
$4,546,600
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
1996
Construction
CONCRETE
Heating
PACKAGE
Cooling
YES
Buildings
2
Stories
1
Total area
14,866 SF
Lot
2.45 ac (106,560 SF)
Zoning code
LI
APN
302-23-015
UPID
US07-0548703
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
$2.3M
MEDICAL BUILDING
Est. value
$3.8M
OFFICE BUILDING
Est. value
$3.3M
INDUSTRIAL (GENERAL) Current
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
1996
Construction
CONCRETE
Heating
PACKAGE
Cooling
Yes
Stories
1
Buildings
2
Lot
2.45 ac
Current owner
From public records · entity-resolved
Carpenter Trust
Trust
Mailing address
1640 W SUNRISE BLVD, GILBERT, AZ 85233-5006
Ownership since
1999
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
13 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 16, 2021
—
Dale Carpenter
—
Deed
related
$600,000 · Midfirst Bank
Jan 15, 2020
—
Dale Carpenter
—
Deed
related
$1,930,000 · Midfirst Bank
Jun 8, 1999
—
Carpenter Trust
Mesa Custom Machining Corp
Grant Deed
related
—
Mar 7, 1996
$175,253
Mesa,custom Machining
New Credit Corp
Trustees Deed
$95,000 · Cambrie Financial Service INC
Mar 7, 1996
—
Dale Carpenter
Mesa Machining Corp
Quit Claim Deed
related
—
Dec 12, 1994
$4,100,000
New Church Ventures Credit Corp
Fmc Holding Corp
Grant Deed
related
—
—
—
Carpenter Dale & Carol Trust
—
Deed Of Trust
related
$1,000,000 · Compass Bank
—
—
Dale Carpenter
—
Deed Of Trust
related
$875,000 · Sonoma National Bank
—
—
Carpenter Dale & Carol Trust
—
Deed Of Trust
related
$100,000 · Compass Bank
—
—
Carpenter Dale & Carol Trust
—
Deed Of Trust
related
$800,000 · Compass Bank
—
—
Mesa Custom Machining Corp
—
Deed Of Trust
related
$875,000 · Sonoma National Bank
—
—
Custom Machining Mesa
—
Deed Of Trust
related
$100,000 · Private Lender
—
—
Carpenter Dale & Carol Trust
—
Deed Of Trust
related
$86,539 · Compass 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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