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Property profile & analytics
OFF-MARKET
Estimated value
$6,775,000
Medical Office Space
2223 Baseline Rd Gilbert, AZ 85234-2325
Entity Owned
18-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US07-1848715
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
2007
Construction
STEEL FRAME
Total area
18,466 SF
Lot
2.63 ac (114,760 SF)
Zoning code
NO
APN
304-11-413
UPID
US07-1848715
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
-
Venkatesh K S MD Physician
-
Dr. D B. Larsen, MD Physician Medical Clinic
-
Tri-City Colo-Rectal Surgery: Buckmire Michael A MD Physician Medical Clinic
-
Tri-City Colo-Rectal Surgery Medical Clinic
-
Southwest Endoscopy And Surgicenter Medical Clinic Hospital
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$6.78M
Blend (final)
Blend
$6.78M
Owner & transaction history
Sun View Medical Building LLC · 18 yrs held
Sun View Medical Building LLC
since 2008
4 recorded transactions
Zoning & alternative use
NO · Gilbert, AZ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
Neighborhood Office zoning is intended for small offices buildings or complexes within or near residential neighborhoods. The emphasis of this zoning district is on single story uses which serve the daily needs of abutting neighbors. Uses permitted within NO tend to be limited with minimal environmental impacts.
Zone name
Neighborhood Office
General category
RESIDENTIAL
Zone area
64.80 ac
Source
Realmo
Top alternative use upside
Restaurant
$10.1M
+114.9%
Auto repair, garage
$8.2M
+73.7%
Retail stores
$6.8M
+43.6%
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
MEDICAL BUILDING
$4,720,000
Current use
RESTAURANT
$10,145,000
Change: +115% · Conversion: Difficult
AUTO REPAIR, GARAGE
$8,200,000
Change: +74% · Conversion: Difficult
RETAIL STORES
$6,780,000
Change: +44% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$6,720,000
Change: +42% · Conversion: Difficult
Blend value · Realmo final
$6.78M
Range $6.10M – $7.45M · ±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
$367 / 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
$57,196
Tax year 2023
Assessed value
$1,379,858
Assessed 2024
Previous assessed
$1,226,312
+12.5% YoY
Effective rate
4.15%
On assessed value
Land market value
$1,265,700
Improvement market value
$7,097,077
Total market value
$8,362,777
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
2007
Construction
STEEL FRAME
Heating
PACKAGE
Cooling
YES
Stories
1
Total area
18,466 SF
Lot
2.63 ac (114,760 SF)
Zoning code
NO
APN
304-11-413
UPID
US07-1848715
Jurisdiction
MARICOPA
Zoning & alternative use
NO · Gilbert, AZZoning NO · permitted uses
NO · Gilbert, AZ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
Neighborhood Office zoning is intended for small offices buildings or complexes within or near residential neighborhoods. The emphasis of this zoning district is on single story uses which serve the daily needs of abutting neighbors. Uses permitted within NO tend to be limited with minimal environmental impacts.
Zone name
Neighborhood Office
General category
RESIDENTIAL
Zone area
64.80 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
MEDICAL BUILDING Current
Est. value
$4.7M
RESTAURANT
Est. value
$10.1M
AUTO REPAIR, GARAGE
Est. value
$8.2M
RETAIL STORES
Est. value
$6.8M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$6.7M
MEDICAL BUILDING Current
RESTAURANT
AUTO REPAIR, GARAGE
RETAIL STORES
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
2007
Construction
STEEL FRAME
Heating
PACKAGE
Cooling
Yes
Stories
1
Lot
2.63 ac
Current owner
From public records · entity-resolved
Sun View Medical Building LLC
Entity
Mailing address
450 W HACKBERRY DR, CHANDLER, AZ 85248-3957
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2008
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 14, 2019
—
Sun View Medical Building LLC
—
Deed
related
$2,335,627 · Wells Fargo Bank NA
Mar 14, 2019
—
Sun View Medical Building LLC
—
Loan Modification
related
$2,044,147 · Wells Fargo Bk
Oct 17, 2017
—
Sun View Medical Building LLC
—
Trustees Deed
related
$800,000 · Wells Fargo Bk
Jul 1, 2008
—
Sun View Medical Building LLC
Owner Name Unavailable
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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