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Property profile & analytics
OFF-MARKET
Estimated value
$1,780,000
Warehouses
188 Hamilton Pl Gilbert, AZ 85233-5524
Entity Owned
Free & Clear
Property ID
US07-3291360
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
2004
Construction
CONCRETE
Total area
7,962 SF
Lot
0.6 ac (25,932 SF)
Zoning code
LI
APN
302-29-444
UPID
US07-3291360
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
$1.77M
Blend (final)
Blend
$1.78M
Owner & transaction history
188 Hamilton LLC
188 Hamilton LLC
since 2026
3 recorded transactions
Zoning & alternative use
LI · Gilbert, AZ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$2.9M
+104.9%
Neighborhood: shopping center
$2.9M
+103.1%
Medical building
$2.0M
+42.6%
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
WAREHOUSE, STORAGE
$1,425,000
Current use
RETAIL STORES
$2,925,000
Change: +105% · Conversion: Moderate
NEIGHBORHOOD: SHOPPING CENTER
$2,900,000
Change: +103% · Conversion: Moderate
MEDICAL BUILDING
$2,035,000
Change: +43% · Conversion: Difficult
OFFICE BUILDING
$1,770,000
Change: +24% · Conversion: Difficult
Blend value · Realmo final
$1.78M
Range $1.60M – $1.96M · ±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
$224 / 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
$10,439
Tax year 2023
Assessed value
$224,417
Assessed 2024
Previous assessed
$185,963
+20.7% YoY
Effective rate
4.65%
On assessed value
Land market value
$316,100
Improvement market value
$1,044,000
Total market value
$1,360,100
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
2004
Construction
CONCRETE
Heating
PACKAGE
Cooling
YES
Stories
1
Total area
7,962 SF
Lot
0.6 ac (25,932 SF)
Zoning code
LI
APN
302-29-444
UPID
US07-3291360
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
WAREHOUSE, STORAGE Current
Est. value
$1.4M
RETAIL STORES
Est. value
$2.9M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$2.9M
MEDICAL BUILDING
Est. value
$2.0M
OFFICE BUILDING
Est. value
$1.8M
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
2004
Construction
CONCRETE
Heating
PACKAGE
Cooling
Yes
Stories
1
Lot
0.6 ac
Current owner
From public records · entity-resolved
188 Hamilton LLC
Entity
Free & Clear · 0 yrs held
Mailing address
1845 E GRANDVIEW ST, MESA, AZ 85203-4526
Ownership since
2026
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 5, 2026
—
188 Hamilton LLC
Alwyn Eugene Geiser III
Warranty Deed
—
Sep 23, 2004
$754,000
Alwyn E Geiser IV
JR Elliot Commerce Park 2 LLC
Grant Deed
—
Nov 19, 2003
—
Maricopa County (az)
Salt River Project Agricultura
Quit Claim 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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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