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Property profile & analytics
OFF-MARKET
Estimated value
$2,370,000
Flex space
23450 35th Dr Glendale, AZ 85310-4194
Individually Owned
4-yr Hold
~
Est. High Equity
Property ID
US07-0912668
Property profile
Verified
Property type
Flex space
Use group
LIGHT INDUSTRIAL
Year built
2002
Construction
CONCRETE
Total area
11,165 SF
Lot
0.9 ac (39,312 SF)
Zoning code
CP/BP
APN
205-11-867
UPID
US07-0912668
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
$2.37M
Blend (final)
Blend
$2.37M
Owner & transaction history
Craig R Eaton · 4 yrs held
Craig R Eaton
since 2022
6 recorded transactions
Zoning & alternative use
CP/BP · Glendale, AZ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$3.6M
+115.9%
Commercial (general)
$3.4M
+106.8%
Neighborhood: shopping center
$3.2M
+94.9%
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 Glendale submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Glendale 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)
$1,655,000
Current use
OFFICE BUILDING
$3,575,000
Change: +116% · Conversion: Difficult
COMMERCIAL (GENERAL)
$3,420,000
Change: +107% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$3,225,000
Change: +95% · Conversion: Difficult
RETAIL STORES
$2,965,000
Change: +79% · Conversion: Moderate
MEDICAL BUILDING
$2,560,000
Change: +55% · Conversion: Difficult
Blend value · Realmo final
$2.37M
Range $2.13M – $2.61M · ±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
$212 / 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
$16,434
Tax year 2023
Assessed value
$327,707
Assessed 2024
Previous assessed
$261,987
+25.1% YoY
Effective rate
5.01%
On assessed value
Land market value
$313,300
Improvement market value
$1,672,800
Total market value
$1,986,100
Applied tax rate
971,300.0000
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
2002
Construction
CONCRETE
Heating
PACKAGE
Cooling
YES
Stories
1
Total area
11,165 SF
Lot
0.9 ac (39,312 SF)
Zoning code
CP/BP
APN
205-11-867
UPID
US07-0912668
Jurisdiction
MARICOPA
Zoning & alternative use
CP/BP · Glendale, AZZoning CP/BP · permitted uses
CP/BP · Glendale, AZ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
INDUSTRIAL (GENERAL) Current
Est. value
$1.7M
OFFICE BUILDING
Est. value
$3.6M
COMMERCIAL (GENERAL)
Est. value
$3.4M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$3.2M
RETAIL STORES
Est. value
$3.0M
MEDICAL BUILDING
Est. value
$2.6M
INDUSTRIAL (GENERAL) Current
OFFICE BUILDING
COMMERCIAL (GENERAL)
NEIGHBORHOOD: SHOPPING CENTER
RETAIL STORES
MEDICAL 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
2002
Construction
CONCRETE
Heating
PACKAGE
Cooling
Yes
Stories
1
Lot
0.9 ac
Current owner
From public records · entity-resolved
Craig R Eaton
Individual
Mailing address
4525 N 43RD AVE, PHOENIX, AZ 85031-1509
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
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 14, 2022
$737,500
Craig R Eaton
Rochelle Waller
Warranty Deed
—
Jun 14, 2022
—
Rct Ventures LLC
Craig R Eaton
Warranty Deed
—
Jul 2, 1997
$73,957
Rochelle Waller Property Trust
Denagon Properties I L L
Grant Deed
—
Aug 29, 1994
—
Properties 1 L L C Denagon
Rtc
Grant Deed
$4,070,000 · Seller
Jun 17, 1993
$3,600,000
Southwest Savings
Thunderbird Vall
Trustees Deed
related
—
—
—
Waller,tr
—
Deed Of Trust
related
$644,000 · Bank Of The Southwest
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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