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Property profile & analytics
OFF-MARKET
Estimated value
$80,375,000
Specialty properties
3004 Market St Gilbert, AZ 85295-1349
Entity Owned
3-yr Hold
Property ID
US07-3299506
Property profile
Verified
Property type
Specialty properties
Use group
PROFESSIONAL CLUBS/ASSOCIATIONS
Year built
2006
Construction
STEEL FRAME
Total area
4,070 SF
Lot
13.02 ac (567,140 SF)
Zoning code
MF/M
APN
304-46-464
UPID
US07-3299506
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
-
RTM / Race Time Motorsports Auto Parts Store (Bike/Boat/Book/etc) Store
-
Amazon Locker - Sergei Postal Service Courier Service
-
Borrego at Spectrum Apartment Complex Apartment Building
-
CreatdivWeb Design Marketing & Advertising (Bike/Boat/Book/etc) Store
-
Geoff Volker Photography Photography Service (Bike/Boat/Book/etc) Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$82.08M
Blend (final)
Blend
$80.38M
Owner & transaction history
Borrego Apartments I LLC · 3 yrs held
Borrego Apartments I LLC
since 2022
Last sale
$39,600
5 recorded transactions
Zoning & alternative use
MF/M · Gilbert, AZ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$80.38M
Range $72.34M – $88.41M · ±10% · vs last sale $40k (Sep 15 2022)
Last sale anchor
$40k
Sep 15 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
$19,748 / 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
$264,565
Tax year 2023
Assessed value
$8,870,060
Assessed 2024
Previous assessed
$7,467,750
+18.8% YoY
Effective rate
2.98%
On assessed value
Land market value
$17,740,100
Improvement market value
$70,960,500
Total market value
$88,700,600
Applied tax rate
410,618.0000
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
Specialty properties
Use group
PROFESSIONAL CLUBS/ASSOCIATIONS
Status
Off-Market
Year built
2006
Construction
STEEL FRAME
Heating
PACKAGE
Cooling
YES
Buildings
17
Stories
1
Units
264
Total area
4,070 SF
Lot
13.02 ac (567,140 SF)
Zoning code
MF/M
APN
304-46-464
UPID
US07-3299506
Jurisdiction
MARICOPA
Zoning & alternative use
MF/M · Gilbert, AZ
Zoning MF/M · permitted uses
MF/M · 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.
Building & site characteristics
From public records
Year built
2006
Construction
STEEL FRAME
Heating
PACKAGE
Cooling
Yes
Stories
1
Buildings
17
Units
264
Lot
13.02 ac
Current owner
From public records · entity-resolved
Borrego Apartments I LLC
Entity
Mailing address
23622 CALABASAS RD, CALABASAS, CA 91302-1549
Ownership since
2022
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
Sep 15, 2022
$99,944,000
Borrego Apartments I LLC
Borrego At Spectrum Az LLC
Special Warranty Deed
related
$60,430,000 · City National Bank
Feb 13, 2017
—
Borrego At Spectrum Az LLC
—
Deed
related
$21,500,000 · Miscellaneous Ins Co
Jun 26, 2009
—
Borrego At Spectrum Az LLC
—
Deed Of Trust
related
$30,550,000 · Federal National Mortgage Assn
Mar 29, 2007
$39,600
Borrego At Spectrum Az LLC
Fairfield Spectrum Val Vista LP
Special Warranty Deed
$30,550,000 · Wachovia Bank NA
—
—
Borrego At Spectrum Az LLC
—
Deed Of Trust
related
$21,500,000 · Miscellaneous Ins Co
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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