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Property profile & analytics
OFF-MARKET
Estimated value
$1,395,000
Medical Office Space
3503 Mercy Rd B Gilbert, AZ 85297-0439
Entity Owned
13-yr Hold
~
Est. High Equity
Property ID
US07-1830744
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
2006
Construction
STEEL FRAME
Total area
3,807 SF
Lot
0.04 ac (1,924 SF)
Zoning code
GO
APN
304-53-265
UPID
US07-1830744
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
-
Ocotillo Internal Medicine Associates Medical Clinic
-
Mrs. Jessica Kappes Physician
-
Dr. Lily H Delatte, MD Physician
-
CASEY LYNNE MICHALSKI Physician
-
Dr. Cheryl Maurice Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.40M
Blend (final)
Blend
$1.40M
Owner & transaction history
M & H Medical Props LLC · 13 yrs held
M & H Medical Props LLC
since 2012
2 recorded transactions
Zoning & alternative use
GO · Gilbert, AZ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The General Office district is the most intensive office zoning district. Designated for large scale, single or multiple story medical, professional, general or service type office uses. The only residential land uses allowed within the General Office classification are loft units above non residential within a mixed use project.
Zone name
General Office
General category
MIXED_USE
Zone area
227.70 ac
Source
Realmo
Top alternative use upside
Auto repair, garage
$1.7M
+73.7%
Retail stores
$1.4M
+43.6%
Neighborhood: shopping center
$1.4M
+42.4%
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
MEDICAL BUILDING
$975,000
Current use
AUTO REPAIR, GARAGE
$1,690,000
Change: +74% · Conversion: Difficult
RETAIL STORES
$1,400,000
Change: +44% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$1,385,000
Change: +42% · Conversion: Difficult
OFFICE BUILDING
$1,170,000
Change: +20% · Conversion: Easy
Blend value · Realmo final
$1.40M
Range $1.26M – $1.53M · ±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
$366 / 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
$4,064
Tax year 2023
Assessed value
$95,865
Assessed 2024
Previous assessed
$80,937
+18.4% YoY
Effective rate
4.24%
On assessed value
Land market value
$116,200
Improvement market value
$464,800
Total market value
$581,000
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
2006
Construction
STEEL FRAME
Heating
PACKAGE
Cooling
YES
Stories
1
Total area
3,807 SF
Lot
0.04 ac (1,924 SF)
Zoning code
GO
APN
304-53-265
UPID
US07-1830744
Jurisdiction
MARICOPA
Zoning & alternative use
GO · Gilbert, AZZoning GO · permitted uses
GO · Gilbert, AZ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The General Office district is the most intensive office zoning district. Designated for large scale, single or multiple story medical, professional, general or service type office uses. The only residential land uses allowed within the General Office classification are loft units above non residential within a mixed use project.
Zone name
General Office
General category
MIXED_USE
Zone area
227.70 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
MEDICAL BUILDING Current
Est. value
$975,000
AUTO REPAIR, GARAGE
Est. value
$1.7M
RETAIL STORES
Est. value
$1.4M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.4M
OFFICE BUILDING
Est. value
$1.2M
MEDICAL BUILDING Current
AUTO REPAIR, GARAGE
RETAIL STORES
NEIGHBORHOOD: SHOPPING CENTER
OFFICE 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
2006
Construction
STEEL FRAME
Heating
PACKAGE
Cooling
Yes
Stories
1
Lot
0.04 ac
Current owner
From public records · entity-resolved
M & H Medical Props LLC
Entity
Mailing address
245 S DOBSON RD, CHANDLER, AZ 85224-6577
Ownership since
2012
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 28, 2012
$673,400
M & H Medical Props LLC
Cwgg LLC
Grant Deed
$630,300 · Compass Bank
Mar 7, 2007
—
Cwgg LLC
Owner Name Unavailable
Grant Deed
related
$896,382 · Ironstone Bank
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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