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Property profile & analytics
OFF-MARKET
Estimated value
$12,445,000
Individual retail properties
16750 Bell Rd Surprise, AZ 85374-9539
Entity Owned
5-yr Hold
~
Est. High Equity
Property ID
US07-2343020
Property profile
Verified
Property type
Individual retail properties
Use group
GYM, HEALTH SPA
Year built
2003
Construction
CONCRETE
Total area
53,888 SF
Lot
5.44 ac (236,918 SF)
Zoning code
CC
APN
232-39-971
UPID
US07-2343020
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
$12.76M
Blend (final)
Blend
$12.45M
Owner & transaction history
Store Master Funding III LLC · 5 yrs held
Store Master Funding III LLC
since 2020
Last sale
$11.4M
1 recorded transaction
Zoning & alternative use
CC · Surprise, AZ
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
$13,835,000
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
$14,680,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$14,005,000
Change: -5% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$12,370,000
Change: -16% · Conversion: Difficult
Blend value · Realmo final
$12.45M
Range $11.20M – $13.69M · ±10% · vs last sale $11.43M (Dec 11 2020)
Last sale anchor
$11.43M
Dec 11 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
$231 / 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
$148,298
Tax year 2023
Assessed value
$1,968,533
Assessed 2024
Previous assessed
$1,845,503
+6.7% YoY
Effective rate
7.53%
On assessed value
Land market value
$2,509,400
Improvement market value
$9,421,100
Total market value
$11,930,500
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
2003
Construction
CONCRETE
Heating
NONE
Stories
1
Total area
53,888 SF
Lot
5.44 ac (236,918 SF)
Zoning code
CC
APN
232-39-971
UPID
US07-2343020
Jurisdiction
MARICOPA
Zoning & alternative use
CC · Surprise, AZZoning CC · permitted uses
CC · Surprise, AZ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Source
municipal code
Alternative use value scenarios
Repositioning upside vs current use
GYM, HEALTH SPA Current
Est. value
$14.7M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$14.0M
INDUSTRIAL (GENERAL)
Est. value
$12.4M
GYM, HEALTH SPA Current
NEIGHBORHOOD: SHOPPING CENTER
INDUSTRIAL (GENERAL)
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
2003
Construction
CONCRETE
Heating
NONE
Stories
1
Lot
5.44 ac
Current owner
From public records · entity-resolved
Store Master Funding III LLC
Entity
Mailing address
1 E WASHINGTON ST STE #250, PHOENIX, AZ 85004-2497
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
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 11, 2020
$11,434,589
Store Master Funding III LLC
Bell 303 Fitness LLC
Special Warranty Deed
$11,650,000 · Citybank
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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