Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$1,215,000
Office buildings
31231 56th St Cave Creek, AZ 85331-5950
Individually Owned
13-yr Hold
~
Est. High Equity
Property ID
US07-3488049
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1998
Construction
CONCRETE
Total area
2,917 SF
Lot
2.11 ac (92,108 SF)
Zoning code
RU-43
APN
211-45-003Z
UPID
US07-3488049
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
by Request
Comparable Approach
Comparable
$1.22M
Blend (final)
Blend
$1.22M
Owner & transaction history
Raymond J Manship · 13 yrs held
Raymond J Manship
since 2013
5 recorded transactions
Zoning & alternative use
RU-43 · Cave Creek, AZ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$1.3M
+85.7%
Retail stores
$980,000
+40.7%
Medical building
$745,000
+6.5%
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 Cave Creek submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Cave Creek 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
AUTO REPAIR, GARAGE
$1,295,000
Change: +86% · Conversion: Difficult
RETAIL STORES
$980,000
Change: +41% · Conversion: Moderate
MEDICAL BUILDING
$745,000
Change: +6% · Conversion: Easy
Blend value · Realmo final
$1.22M
Range $1.09M – $1.34M · ±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
$417 / 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
$4,717
Tax year 2023
Assessed value
$224,140
Assessed 2024
Previous assessed
$173,231
+29.4% YoY
Effective rate
2.10%
On assessed value
Land market value
$973,500
Improvement market value
$411,472
Total market value
$1,384,972
Applied tax rate
930,000.0000
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1998
Construction
CONCRETE
Heating
HEAT PUMP
Stories
1
Total area
2,917 SF
Lot
2.11 ac (92,108 SF)
Zoning code
RU-43
APN
211-45-003Z
UPID
US07-3488049
Jurisdiction
MARICOPA
Zoning & alternative use
RU-43 · Cave Creek, AZ
Zoning RU-43 · permitted uses
RU-43 · Cave Creek, AZ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Cave Creek. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
AUTO REPAIR, GARAGE
Est. value
$1.3M
RETAIL STORES
Est. value
$980,000
MEDICAL BUILDING
Est. value
$745,000
AUTO REPAIR, GARAGE
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
1998
Construction
CONCRETE
Heating
HEAT PUMP
Stories
1
Lot
2.11 ac
Current owner
From public records · entity-resolved
Raymond J Manship
Individual
Mailing address
PO BOX 3665, CAREFREE, AZ 85377-3665
Ownership since
2013
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
Mar 17, 2023
—
Raymond J Manship
—
Deed
related
$208,111 · Parkway Bank & Trust Co
Jun 3, 2013
$440,000
Raymond J Manship
Pb & J Xviii LLC
Grant Deed
$348,500 · Parkway Bank & Trust Co
Jul 13, 2011
$600,000
Pb & J Xviii LLC
Bosco,michael A JR
Trustees Deed
related
—
Dec 19, 2008
—
Camp Creek LLC
Camp,walter E III
Quit Claim Deed
related
$673,269 · Parkway Bank & Trust Co
Jan 5, 2007
$875,000
Walter E Camp III
Split Ventures LLC
Warranty Deed
$675,000 · Split Ventures LLC
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 31231 56th St?
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.
