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Property profile & analytics
OFF-MARKET
Estimated value
$510,000
Parking lots & garages
29311 203rd Ave, Wittmann, AZ 85361-9725
Individually Owned
2-yr Hold
Property ID
US07-2889309
Property profile
Verified
Property type
Parking lots & garages
Use group
RESIDENTIAL PARKING GARAGE
Year built
2000
Construction
STEEL FRAME
Total area
864 SF
Lot
1.11 ac (48,439 SF)
Zoning code
RU-43
APN
503-48-023S
UPID
US07-2889309
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
$510k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$439k
Blend (final)
Blend
$510k
Owner & transaction history
Richard Schubert · 2 yrs held
Richard Schubert
since 2024
Last sale
$509,000
7 recorded transactions
Zoning & alternative use
RU-43 · Wittmann, AZ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$695,000
+58.1%
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 Wittmann submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Wittmann 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
$510,000
ML approach
$510,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
PARKING LOT
$440,000
Current use
COMMERCIAL (GENERAL)
$695,000
Change: +58% · Conversion: Difficult
AUTO REPAIR, GARAGE
$385,000
Change: -13% · Conversion: Difficult
Blend value · Realmo final
$510k
Range $459k – $561k · ±10% · vs last sale $509k (Apr 12 2024)
Last sale anchor
$509k
Apr 12 2024
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
$590 / 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
$1,707
Tax year 2023
Assessed value
$22,740
Assessed 2024
Previous assessed
$22,740
+0.0% YoY
Effective rate
7.51%
On assessed value
Land market value
$81,900
Improvement market value
$145,500
Total market value
$227,400
Applied tax rate
810,009.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
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
Parking lots & garages
Use group
RESIDENTIAL PARKING GARAGE
Status
Off-Market
Year built
2000
Construction
STEEL FRAME
Heating
NONE
Buildings
2
Stories
1
Total area
864 SF
Lot
1.11 ac (48,439 SF)
Zoning code
RU-43
APN
503-48-023S
UPID
US07-2889309
Jurisdiction
MARICOPA
Zoning & alternative use
RU-43 · Wittmann, AZ
Zoning RU-43 · permitted uses
RU-43 · Wittmann, AZ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Wittmann. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
PARKING LOT Current
Est. value
$440,000
COMMERCIAL (GENERAL)
Est. value
$695,000
AUTO REPAIR, GARAGE
Est. value
$385,000
PARKING LOT Current
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
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
2000
Construction
STEEL FRAME
Heating
NONE
Stories
1
Buildings
2
Lot
1.11 ac
Current owner
From public records · entity-resolved
Richard Schubert
Individual
Mailing address
7415 TEMPLETON GAP RD, COLORADO SPRINGS, CO 80923-1271
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
10 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 12, 2024
$509,000
Richard Schubert
Real Property Acquisitions LLC
Warranty Deed
—
Dec 1, 2023
$365,000
Real Property Acquistions LLC
Richard R Blasdell
Warranty Deed
$340,000 · Ron Swanson Holdings LLC
Dec 1, 2021
$510,000
Richard R Blasdell
John C Holt
Warranty Deed
—
Jan 10, 2005
$183,000
John C Holt
Suer,robert D & Jean E
Grant Deed
related
$165,750 · Option One Mortgage Corp
Nov 6, 2001
—
Robert D Suer
Rds Investment INC
Grant Deed
$133,000 · American Bantrust Mortgage
Apr 27, 2001
$171,000
Timothy G Popovich
Suer,robert D
Grant Deed
$162,450 · Fmc Mortgage Co
Jul 31, 2000
$160,000
Matthew R Ogram
Coy Enterprises Ltd
Grant Deed
$128,000 · Cit Group Consumer Finance INC
Oct 22, 1999
—
Rds Investments INC
Rds Investments INC
Quit Claim Deed
related
—
—
—
Robert D Suer
—
Deed Of Trust
related
$80,500 · American Bantrust Mortgage
—
—
John C Holt
—
Deed Of Trust
related
$7,500 · Robert D & Jean E Suer
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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