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Property profile & analytics
OFF-MARKET
Estimated value
$3,165,000
Warehouses
18477 187th Pl, Queen Creek, AZ 85142
Individually Owned
3-yr Hold
~
Est. High Equity
Property ID
US07-0812987
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
2021
Total area
12,046 SF
Lot
1.13 ac (49,435 SF)
Zoning code
I-1
APN
304-62-202
UPID
US07-0812987
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
$1.91M
Comparable Approach
Comparable
$2.40M
Blend (final)
Blend
$3.17M
Owner & transaction history
Zbh South 187th Place Ltd · 3 yrs held
Zbh South 187th Place Ltd
since 2022
Last sale
$4.1M
5 recorded transactions
Zoning & alternative use
I-1 · Queen Creek, AZ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$4.1M
+64.4%
Neighborhood: shopping center
$3.8M
+54.3%
Medical building
$3.1M
+24.4%
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 Queen Creek submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Queen Creek 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
$4,100,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$2,065,000
6.5%
$1,905,000
7%
$1,770,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$2,465,000
Current use
RETAIL STORES
$4,050,000
Change: +64% · Conversion: Moderate
NEIGHBORHOOD: SHOPPING CENTER
$3,805,000
Change: +54% · Conversion: Moderate
MEDICAL BUILDING
$3,065,000
Change: +24% · Conversion: Difficult
OFFICE BUILDING
$2,880,000
Change: +17% · Conversion: Difficult
Blend value · Realmo final
$3.17M
Range $2.85M – $3.48M · ±10% · vs last sale $4.14M (Sep 9 2022)
Last sale anchor
$4.14M
Sep 9 2022
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
$263 / 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
$3,814
Tax year 2022
Assessed value
$239,014
Assessed 2024
Previous assessed
$208,436
+14.7% YoY
Effective rate
1.60%
On assessed value
Land market value
$303,800
Improvement market value
$1,144,772
Total market value
$1,448,572
Applied tax rate
602,500.0000
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
2021
Heating
NONE
Stories
1
Total area
12,046 SF
Lot
1.13 ac (49,435 SF)
Zoning code
I-1
APN
304-62-202
UPID
US07-0812987
Jurisdiction
MARICOPA
Zoning & alternative use
I-1 · Queen Creek, AZ
Zoning I-1 · permitted uses
I-1 · Queen Creek, AZ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Queen Creek. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$2.5M
RETAIL STORES
Est. value
$4.1M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$3.8M
MEDICAL BUILDING
Est. value
$3.1M
OFFICE BUILDING
Est. value
$2.9M
WAREHOUSE, STORAGE Current
RETAIL STORES
NEIGHBORHOOD: SHOPPING CENTER
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
2021
Heating
NONE
Stories
1
Lot
1.13 ac
Current owner
From public records · entity-resolved
Zbh South 187th Place Ltd
Individual
Mailing address
9669 JOURDAN WAY, DALLAS, TX 75230-5072
Ownership since
2022
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
Sep 9, 2022
$4,137,516
Zbh South 187th Place Ltd
Newport Development & Investments L
Special Warranty Deed
$3,766,889 · Comerica Bank
Aug 17, 2018
—
Newport Dev & Investments LLC
Buttrum,david G
Trustees Deed
$1,400,000 · National Ln Acquisitions
Feb 22, 2008
—
David G Buttrum
Owner Name Unavailable
Grant Deed
related
—
Jul 31, 2007
$1,487,977
David G Buttrum
Power Road Market Place LLC
Grant Deed
$1,400,000 · Gold Canyon Bank
Jul 31, 2007
—
Power Road Market Place LLC
Trust 8558
Grant Deed
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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