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Property profile & analytics
OFF-MARKET
Estimated value
$4,640,000
Drug stores
3230 Chandler Hts Rd, Gilbert, AZ 85298-4261
Entity Owned
10-yr Hold
~
Est. High Equity
Property ID
US07-0836342
Property profile
Verified
Property type
Drug stores
Use group
DRUG STORE, PHARMACY
Year built
2007
Construction
CONCRETE
Total area
14,736 SF
Lot
2.23 ac (97,297 SF)
Zoning code
SC
APN
304-79-807
UPID
US07-0836342
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
-
Walgreens Photo (Bike/Boat/Book/etc) Store
-
Loc K. Le, PharmD Pharmacy
-
Janak Dave, PharmD Pharmacy
-
Matthew W. Becken, PharmD Pharmacy
-
COVID-19 Drive-Thru Testing at Walgreens Medical Laboratory
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$5.12M
Blend (final)
Blend
$4.64M
Owner & transaction history
1228-44 West Carmen LLC · 10 yrs held
1228-44 West Carmen LLC
since 2016
5 recorded transactions
Zoning & alternative use
SC · Gilbert, AZ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$6.5M
+20.9%
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
RETAIL STORES
$5,410,000
Current use
AUTO REPAIR, GARAGE
$6,545,000
Change: +21% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$5,365,000
Change: -1% · Conversion: Moderate
Blend value · Realmo final
$4.64M
Range $4.18M – $5.10M · ±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
$315 / 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
$42,664
Tax year 2023
Assessed value
$639,786
Assessed 2024
Previous assessed
$553,010
+15.7% YoY
Effective rate
6.67%
On assessed value
Land market value
$1,268,300
Improvement market value
$2,609,190
Total market value
$3,877,490
Applied tax rate
800,607.0000
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
Drug stores
Use group
DRUG STORE, PHARMACY
Status
Off-Market
Year built
2007
Construction
CONCRETE
Heating
PACKAGE
Cooling
YES
Stories
1
Total area
14,736 SF
Lot
2.23 ac (97,297 SF)
Zoning code
SC
APN
304-79-807
UPID
US07-0836342
Jurisdiction
MARICOPA
Zoning & alternative use
SC · Gilbert, AZ
Zoning SC · permitted uses
SC · 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
RETAIL STORES Current
Est. value
$5.4M
AUTO REPAIR, GARAGE
Est. value
$6.5M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$5.4M
RETAIL STORES Current
AUTO REPAIR, GARAGE
NEIGHBORHOOD: SHOPPING CENTER
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
2007
Construction
CONCRETE
Heating
PACKAGE
Cooling
Yes
Stories
1
Lot
2.23 ac
Current owner
From public records · entity-resolved
1228-44 West Carmen LLC
Entity
Mailing address
258 WAGNER RD, NORTHFIELD, IL 60093-3249
Ownership since
2016
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
May 6, 2016
$7,850,000
1228-44 West Carmen LLC
Levine Investments Limited Partners
Special Warranty Deed
$3,823,397 · First Savings Bank
Feb 21, 2012
$2,763,830
Levine Investments LP
G & D-nec Chandler Heights & Hig
Grant Deed
—
Jan 24, 2012
—
Levine Investments LP
Ldr-nec Higley & Chandler Heig
Grant Deed
—
Jul 9, 2010
—
Ldr-nec Higley
—
Deed Of Trust
related
$2,000,000 · J P Morgan Chase Bank
—
—
Ldr-nec Higley
—
Deed Of Trust
related
$3,200,000 · American Investors Life Ins
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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