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Property profile & analytics
FOR LEASE
Flex space
2440 E Germann Rd Chandler, AZ 85286
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US07-2276064
For Lease
1 / 2
$14,910,000
2440 E Germann Rd, Chandler, AZ 85286
View Listing →
Property profile
Verified
Property type
Flex space
Use group
LIGHT INDUSTRIAL
Year built
2007
Construction
CONCRETE
Total area
49,917 SF
Lot
15.15 ac (660,149 SF)
Zoning code
PAD
APN
303-31-362
UPID
US07-2276064
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
-
BrainTrustPhysicalTherapy.com and ChandlerAdultDayCamp.com Medical Clinic
-
Extra Innings Chandler Arcade & Gaming Center Sports Field & Court
-
The Gym Class Gym & Fitness Center
-
Hype Pharm - The Agency Advertising Agency Marketing & Advertising
-
Word Life Church Church
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$14.91M
Blend (final)
Blend
$14.91M
Owner & transaction history
Gb Spaces LLC · 2 yrs held
Gb Spaces LLC
since 2024
7 recorded transactions
Zoning & alternative use
PAD · Chandler, AZ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$22.6M
+146.2%
Auto repair, garage
$19.2M
+109.7%
Office building
$11.1M
+21.5%
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
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)
$9,165,000
Current use
RETAIL STORES
$22,560,000
Change: +146% · Conversion: Moderate
AUTO REPAIR, GARAGE
$19,220,000
Change: +110% · Conversion: Easy
OFFICE BUILDING
$11,135,000
Change: +21% · Conversion: Difficult
MEDICAL BUILDING
$10,545,000
Change: +15% · Conversion: Difficult
Blend value · Realmo final
$14.91M
Range $13.42M – $16.40M · ±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
$299 / 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
$221,884
Tax year 2023
Assessed value
$5,987,372
Assessed 2024
Previous assessed
$4,258,262
+40.6% YoY
Effective rate
3.71%
On assessed value
Land market value
$7,112,600
Improvement market value
$29,174,500
Total market value
$36,287,100
Applied tax rate
800,300.0000
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
For Lease
Year built
2007
Construction
CONCRETE
Heating
PACKAGE
Cooling
YES
Buildings
3
Stories
1
Units
3
Total area
49,917 SF
Lot
15.15 ac (660,149 SF)
Zoning code
PAD
APN
303-31-362
UPID
US07-2276064
Jurisdiction
MARICOPA
Zoning & alternative use
PAD · Chandler, AZ
Zoning PAD · permitted uses
PAD · Chandler, AZ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Chandler. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
INDUSTRIAL (GENERAL) Current
Est. value
$9.2M
RETAIL STORES
Est. value
$22.6M
AUTO REPAIR, GARAGE
Est. value
$19.2M
OFFICE BUILDING
Est. value
$11.1M
MEDICAL BUILDING
Est. value
$10.5M
INDUSTRIAL (GENERAL) 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
2007
Construction
CONCRETE
Heating
PACKAGE
Cooling
Yes
Stories
1
Buildings
3
Units
3
Lot
15.15 ac
Current owner
From public records · entity-resolved
Gb Spaces LLC
Entity
Mailing address
11452 EL CAMINO REAL STE #200, SAN DIEGO, CA 92130-2080
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 19, 2024
$1,725,000
Gb Spaces LLC
Hype Pharm Propertes LLC
Special Warranty Deed
—
Jul 6, 2022
—
Caz 3 De LLC
—
Deed
related
$14,250,000 · Nationwide Life Insurance Company
Oct 2, 2020
$1,360,823
Hype Pharm Properties LLC
Meritex Chandler LLC
Special Warranty Deed
$884,535 · First Fidelity Bank
Jul 16, 2014
—
Caz 3 De LLC
Caz 3 LLC
Special Warranty Deed
$14,000,000 · Usb Real Estate Securities INC
—
—
Caz 3 LLC
—
Loan Modification
related
$13,600,000 · Union Bank
—
—
Caz 3 LLC
—
Deed Of Trust
related
$10,000,000 · Allre (lt)
—
—
Caz 3 LLC
—
Deed Of Trust
related
$13,600,000 · Union Bk/streator
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?”
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