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Property profile & analytics
OFF-MARKET
Estimated value
$14,025,000
Distribution centers
235 56th St Chandler, AZ 85226-3304
Entity Owned
Free & Clear
Property ID
US07-1278358
Property profile
Verified
Property type
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Year built
1984
Construction
CONCRETE
Total area
62,059 SF
Lot
5.26 ac (229,115 SF)
Zoning code
I-1
APN
301-85-835
UPID
US07-1278358
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
$21.15M
Blend (final)
Blend
$14.03M
Owner & transaction history
Jor Spe 235 56th St II LLC
Jor Spe 235 56th St II LLC
since 2026
Last sale
$16.8M
6 recorded transactions
Zoning & alternative use
I-1 · Chandler, AZ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
cordance with Article XVIII of this Code. (Ord. No. 3063, § 3, 11-18-99) 35-1405. - Site development. All buildings shall be in accordance with Article XIX of this Code. (Ord. No. 4931, § 2(Exh.), 8-13-20) ARTICLE XV. - I-1-PLANNED INDUSTRIAL DISTRICT 35-1500. - Purpose. This district is intended to accommodate those light industrial uses which are not offen…
Zone name
Planned Industrial
General category
INDUSTRIAL
Zone area
983.32 ac
Source
code of ordinances
Top alternative use upside
Retail stores
$28.0M
+72.4%
Auto repair, garage
$23.9M
+46.9%
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 Chandler submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Chandler 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
$14,025,000
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
$16,270,000
Current use
RETAIL STORES
$28,045,000
Change: +72% · Conversion: Moderate
AUTO REPAIR, GARAGE
$23,895,000
Change: +47% · Conversion: Easy
OFFICE BUILDING
$14,115,000
Change: -13% · Conversion: Difficult
MEDICAL BUILDING
$13,110,000
Change: -19% · Conversion: Difficult
Blend value · Realmo final
$14.03M
Range $12.62M – $15.43M · ±10% · vs last sale $16.75M (Sep 30 2022)
Last sale anchor
$16.75M
Sep 30 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
$226 / 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
$116,169
Tax year 2023
Assessed value
$2,211,066
Assessed 2024
Previous assessed
$1,754,842
+26.0% YoY
Effective rate
5.25%
On assessed value
Land market value
$2,473,600
Improvement market value
$10,926,800
Total market value
$13,400,400
Applied tax rate
280,300.0000
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
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Status
Off-Market
Year built
1984
Construction
CONCRETE
Heating
PACKAGE
Cooling
YES
Buildings
2
Stories
1
Total area
62,059 SF
Lot
5.26 ac (229,115 SF)
Zoning code
I-1
APN
301-85-835
UPID
US07-1278358
Jurisdiction
MARICOPA
Zoning & alternative use
I-1 · Chandler, AZZoning I-1 · permitted uses
I-1 · Chandler, AZ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
cordance with Article XVIII of this Code. (Ord. No. 3063, § 3, 11-18-99) 35-1405. - Site development. All buildings shall be in accordance with Article XIX of this Code. (Ord. No. 4931, § 2(Exh.), 8-13-20) ARTICLE XV. - I-1-PLANNED INDUSTRIAL DISTRICT 35-1500. - Purpose. This district is intended to accommodate those light industrial uses which are not offensive to nearby agricultural, residential, commercial or other uses and for business
Zone name
Planned Industrial
General category
INDUSTRIAL
Zone area
983.32 ac
Source
code of ordinances
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$16.3M
RETAIL STORES
Est. value
$28.0M
AUTO REPAIR, GARAGE
Est. value
$23.9M
OFFICE BUILDING
Est. value
$14.1M
MEDICAL BUILDING
Est. value
$13.1M
WAREHOUSE, STORAGE Current
RETAIL STORES
AUTO REPAIR, GARAGE
OFFICE BUILDING
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
1984
Construction
CONCRETE
Heating
PACKAGE
Cooling
Yes
Stories
1
Buildings
2
Lot
5.26 ac
Current owner
From public records · entity-resolved
Jor Spe 235 56th St II LLC
Entity
Free & Clear · 0 yrs held
Mailing address
15030 N HAYDEN RD STE #115, SCOTTSDALE, AZ 85260-2564
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
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 20, 2026
$13,744,743
Jor Spe 235 56th St II LLC
235 56th St LLC
Special Warranty Deed
related
—
Nov 2, 2022
—
235 56th St LLC
—
Deed
related
$11,000,000 · Firstbank
Sep 30, 2022
$16,750,000
235 56th St LLC
Reconditioned Systems INC
Special Warranty Deed
$6,000,000 · Hanson Capital LLC
Apr 3, 2019
—
Cynthia Radobenko
Richard J Radobenko
Quit Claim Deed
related
—
May 26, 2011
$4,375,000
Reconditioned Systems INC
Starr Family Trust
Grant Deed
$3,375,000 · Starr Family Trust (pt)
Dec 3, 2003
—
Starr,tr
Starr,c E & Mary R
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.
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