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Property profile & analytics
OFF-MARKET
Estimated value
$1,970,000
Medical Office Space
3507 Mercy Rd 106 Gilbert, AZ 85297-0441
Entity Owned
13-yr Hold
~
Est. High Equity
Property ID
US07-2197367
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
2006
Construction
STEEL FRAME
Total area
9,238 SF
Lot
0.05 ac (2,327 SF)
Zoning code
GO
APN
304-53-261
UPID
US07-2197367
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
-
Kyle Mahoney Physician
-
David Reynolds Physician Medical Clinic
-
Jonathan Helman Physician
-
Celeste Fine Physician
-
Dr. David Salvatore Physician Medical Clinic
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.97M
Blend (final)
Blend
$1.97M
Owner & transaction history
Gilbert Neurology Properties LLC · 13 yrs held
Gilbert Neurology Properties LLC
since 2013
3 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
Office building
$2.8M
+20.4%
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
$2,360,000
Current use
OFFICE BUILDING
$2,840,000
Change: +20% · Conversion: Easy
Blend value · Realmo final
$1.97M
Range $1.77M – $2.17M · ±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
$213 / 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
$4,850
Tax year 2022
Assessed value
$115,055
Assessed 2024
Previous assessed
$97,410
+18.1% YoY
Effective rate
4.22%
On assessed value
Land market value
$139,400
Improvement market value
$557,900
Total market value
$697,300
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
9,238 SF
Lot
0.05 ac (2,327 SF)
Zoning code
GO
APN
304-53-261
UPID
US07-2197367
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
$2.4M
OFFICE BUILDING
Est. value
$2.8M
MEDICAL BUILDING Current
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
0.05 ac
Current owner
From public records · entity-resolved
Gilbert Neurology Properties LLC
Entity
Mailing address
3507 S MERCY RD STE #101, GILBERT, AZ 85297-0441
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
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 24, 2020
—
Gilbert Neurology Properties LLC
—
Deed
related
$418,853 · Midfirst Bank
Jul 19, 2013
$606,580
Gilbert Neurology Properties LLC
Kenneth L England
Special Warranty Deed
$708,000 · Wells Fargo Bank NA
Oct 13, 2009
—
Kenneth L England
England,kenneth L & Kathryn P
Quit Claim Deed
related
—
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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