Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$1,955,000
Flex space
23659 35th Dr Glendale, AZ 85310-4138
Entity Owned
20-yr Hold
~
Est. High Equity
Property ID
US07-0044888
Property profile
Verified
Property type
Flex space
Use group
LIGHT INDUSTRIAL
Year built
2005
Construction
CONCRETE
Total area
9,200 SF
Lot
0.58 ac (25,388 SF)
Zoning code
CP/BP
APN
205-11-873B
UPID
US07-0044888
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
-
RKS Plumbing & Mechanical Plumbing Service General Contractor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.95M
Blend (final)
Blend
$1.96M
Owner & transaction history
Tas Land Management LLC · 20 yrs held
Tas Land Management LLC
since 2006
5 recorded transactions
Zoning & alternative use
CP/BP · Glendale, AZ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$2.9M
+115.9%
Commercial (general)
$2.8M
+106.8%
Neighborhood: shopping center
$2.7M
+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)
$1,365,000
Current use
OFFICE BUILDING
$2,945,000
Change: +116% · Conversion: Difficult
COMMERCIAL (GENERAL)
$2,820,000
Change: +107% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$2,660,000
Change: +95% · Conversion: Difficult
RETAIL STORES
$2,445,000
Change: +79% · Conversion: Moderate
MEDICAL BUILDING
$2,110,000
Change: +55% · Conversion: Difficult
Blend value · Realmo final
$1.96M
Range $1.76M – $2.15M · ±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
$213 / 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
$13,668
Tax year 2022
Assessed value
$260,667
Assessed 2024
Previous assessed
$204,816
+27.3% YoY
Effective rate
5.24%
On assessed value
Land market value
$221,400
Improvement market value
$1,358,400
Total market value
$1,579,800
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
2005
Construction
CONCRETE
Heating
PACKAGE
Cooling
YES
Stories
1
Total area
9,200 SF
Lot
0.58 ac (25,388 SF)
Zoning code
CP/BP
APN
205-11-873B
UPID
US07-0044888
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
$1.4M
OFFICE BUILDING
Est. value
$2.9M
COMMERCIAL (GENERAL)
Est. value
$2.8M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$2.7M
RETAIL STORES
Est. value
$2.4M
MEDICAL BUILDING
Est. value
$2.1M
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
2005
Construction
CONCRETE
Heating
PACKAGE
Cooling
Yes
Stories
1
Lot
0.58 ac
Current owner
From public records · entity-resolved
Tas Land Management LLC
Entity
Mailing address
15202 N CAVE CRK RD, PHOENIX, AZ 85032-4351
Ownership since
2006
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
Jun 12, 2006
$1,205,490
Tas Land Management LLC
Patack,marvin E
Grant Deed
$1,025,000 · Bank Of America
Apr 27, 2005
$927,300
Marvin E Patack
North Canyon Investors LLC
Warranty Deed
$570,000 · National Bank Of Arizona
Aug 16, 2004
$673,440
Marvin E Patack
Cherry Development LLC II
Warranty Deed
related
$485,000 · National Bank Arizona
—
—
Tas Land Management LLC
—
Deed Of Trust
related
$200,000 · Bank Of America
—
—
Marvin E Patack
—
Deed Of Trust
related
$775,000 · Sonoma National Bank
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
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 23659 35th Dr?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
