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Property profile & analytics
OFF-MARKET
Estimated value
$845,000
Warehouses
255 Pasadena St Ste 4 Gilbert, AZ 85233-4515
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US07-3281608
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1997
Construction
CONCRETE
Total area
4,238 SF
Lot
0.3 ac (12,972 SF)
Zoning code
LI
APN
302-23-069
UPID
US07-3281608
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
$575k
Comparable Approach
Comparable
$807k
Blend (final)
Blend
$845k
Owner & transaction history
Brookscar Holdings LLC · 4 yrs held
Brookscar Holdings LLC
since 2021
Last sale
$850,000
6 recorded transactions
Zoning & alternative use
LI · Gilbert, AZ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$1.1M
+42.6%
Office building
$945,000
+24.1%
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
$910,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$620,000
6.5%
$575,000
7%
$530,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$760,000
Current use
MEDICAL BUILDING
$1,085,000
Change: +43% · Conversion: Difficult
OFFICE BUILDING
$945,000
Change: +24% · Conversion: Difficult
Blend value · Realmo final
$845k
Range $761k – $930k · ±10% · vs last sale $850k (Dec 27 2021)
Last sale anchor
$850k
Dec 27 2021
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
$199 / 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
$5,100
Tax year 2023
Assessed value
$102,069
Assessed 2024
Previous assessed
$83,844
+21.7% YoY
Effective rate
5.00%
On assessed value
Land market value
$123,700
Improvement market value
$494,900
Total market value
$618,600
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
1997
Construction
CONCRETE
Heating
HEAT PUMP
Stories
1
Total area
4,238 SF
Lot
0.3 ac (12,972 SF)
Zoning code
LI
APN
302-23-069
UPID
US07-3281608
Jurisdiction
MARICOPA
Zoning & alternative use
LI · Gilbert, AZ
Zoning LI · permitted uses
LI · Gilbert, AZ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Gilbert. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$760,000
MEDICAL BUILDING
Est. value
$1.1M
OFFICE BUILDING
Est. value
$945,000
WAREHOUSE, STORAGE Current
MEDICAL BUILDING
OFFICE 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
1997
Construction
CONCRETE
Heating
HEAT PUMP
Stories
1
Lot
0.3 ac
Current owner
From public records · entity-resolved
Brookscar Holdings LLC
Entity
Mailing address
10621 E STEARN AVE, MESA, AZ 85212-8228
Ownership since
2021
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
Dec 27, 2021
$850,000
Brookscar Holdings LLC
Qts Shop LLC
Special Warranty Deed
$785,100 · Celtic Bank Corporation
Apr 13, 2016
$735,000
Qts Shop LLC
Products-n-concepts INC
Quit Claim Deed
related
—
Nov 1, 2006
$505,000
Products-n-concepts INC
Howard Lake Ranch LLC
Grant Deed
$475,000 · Bruno & Jollyn A Salamone
—
—
Howare Lake Ranch LLC
—
Deed Of Trust
related
$220,000 · Home National Bank
—
—
Products-n-concepts INC
—
Deed Of Trust
related
$315,000 · Bruno Salamone
—
—
Products-n-concepts INC
—
Deed Of Trust
related
$475,000 · Bruno & Jollyn A Salamone
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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