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Property profile & analytics
OFF-MARKET
Estimated value
$6,685,000
Strip malls
3131 Market St Gilbert, AZ 85295-1706
Entity Owned
8-yr Hold
Free & Clear
Property ID
US07-2296081
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
2016
Construction
CONCRETE
Total area
11,893 SF
Lot
2.45 ac (106,864 SF)
Zoning code
R-3
APN
304-86-944
UPID
US07-2296081
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
-
Menchie's Frozen Yogurt Cafe & Coffee Shop Take-out & Catering
-
Club Pilates Gym & Fitness Center
-
Egg N' Joe (SanTan Village) Restaurant
-
Teriyaki Madness Take-out & Catering Catering Service
-
The Good Feet Store Orthotics & Prosthetics Service
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$6.68M
Blend (final)
Blend
$6.69M
Owner & transaction history
Lf San Tan Square LLC · 8 yrs held
Lf San Tan Square LLC
since 2017
7 recorded transactions
Zoning & alternative use
R-3 · Gilbert, AZ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$9.5M
+120.5%
Restaurant
$6.5M
+50.9%
Auto repair, garage
$5.3M
+22.0%
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
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$4,330,000
Current use
COMMERCIAL (GENERAL)
$9,545,000
Change: +121% · Conversion: Easy
RESTAURANT
$6,530,000
Change: +51% · Conversion: Difficult
AUTO REPAIR, GARAGE
$5,280,000
Change: +22% · Conversion: Difficult
RETAIL STORES
$4,365,000
Change: +1% · Conversion: Easy
Blend value · Realmo final
$6.69M
Range $6.02M – $7.35M · ±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
$562 / 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 2022Property tax & assessments
Tax year 2022
Tax billed
$56,999
Tax year 2022
Assessed value
$1,018,763
Assessed 2024
Previous assessed
$821,457
+24.0% YoY
Effective rate
5.59%
On assessed value
Land market value
$2,793,000
Improvement market value
$3,381,319
Total market value
$6,174,319
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
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
Off-Market
Year built
2016
Construction
CONCRETE
Heating
NONE
Buildings
2
Stories
1
Units
2
Total area
11,893 SF
Lot
2.45 ac (106,864 SF)
Zoning code
R-3
APN
304-86-944
UPID
US07-2296081
Jurisdiction
MARICOPA
Zoning & alternative use
R-3 · Gilbert, AZ
Zoning R-3 · permitted uses
R-3 · 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
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$4.3M
COMMERCIAL (GENERAL)
Est. value
$9.5M
RESTAURANT
Est. value
$6.5M
AUTO REPAIR, GARAGE
Est. value
$5.3M
RETAIL STORES
Est. value
$4.4M
NEIGHBORHOOD: SHOPPING CENTER Current
COMMERCIAL (GENERAL)
RESTAURANT
AUTO REPAIR, GARAGE
RETAIL STORES
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
2016
Construction
CONCRETE
Heating
NONE
Stories
1
Buildings
2
Units
2
Lot
2.45 ac
Current owner
From public records · entity-resolved
Lf San Tan Square LLC
Entity
Free & Clear · 8 yrs held
Mailing address
3850 E BASELINE RD STE #114, MESA, AZ 85206-4403
Ownership since
2017
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 8, 2018
—
Li Santan Square LLC
—
Deed
related
$4,000,000 · Midfirst Bk
Nov 2, 2017
$986,340
Lf San Tan Square LLC
Landmark Property Holdings
Warranty Deed
—
Nov 2, 2017
$985,320
Ll San Tan Square LLC
Landmark Property Holdings
Warranty Deed
—
Oct 19, 2016
$797,500
Wa Santan Square LLC
Santan Dev Group INC
Grant Deed
—
Oct 19, 2016
$1,595,000
Landmark Prop Holdings LLC
Santan Dev Group INC
Grant Deed
—
Oct 19, 2016
$2,310,000
Li Santan Square LLC
Santan Dev Group INC
Grant Deed
—
Aug 31, 2016
—
Cv Investment Properties LLC
—
Deed
related
$828,000 · Small Busn Fin
—
—
Cv Investment Properties LLC
—
Deed Of Trust
related
$828,000 · Small Busn Fin
—
—
Li Santan Square LLC
—
Deed Of Trust
related
$4,000,000 · Midfirst Bk
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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