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Property profile & analytics
OFF-MARKET
Estimated value
$25,250,000
Individual retail properties
381 Warner Rd Gilbert, AZ 85296-2969
Entity Owned
1-yr Hold
Absentee Owner
Free & Clear
Property ID
US07-0748914
Property profile
Verified
Property type
Individual retail properties
Use group
GYM, HEALTH SPA
Year built
2003
Construction
CONCRETE
Total area
108,077 SF
Lot
11.85 ac (516,054 SF)
Zoning code
GC
APN
309-14-716
UPID
US07-0748914
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
-
Life Time Gym & Fitness Center
-
LifeSpa Spa & Massage Center
-
Lifetim Gym & Fitness Center
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$25.25M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$32.63M
Blend (final)
Blend
$25.25M
Owner & transaction history
Nhnr Hold Co 6 LLC · 1 yrs held
Nhnr Hold Co 6 LLC
since 2024
Last sale
$25.3M
6 recorded transactions
Zoning & alternative use
GC · Gilbert, AZ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$39.7M
+34.8%
Neighborhood: shopping center
$39.3M
+33.6%
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
$25,250,000
ML approach
$25,250,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
GYM, HEALTH SPA
$29,440,000
Current use
RETAIL STORES
$39,675,000
Change: +35% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$39,330,000
Change: +34% · Conversion: Difficult
MEDICAL BUILDING
$27,620,000
Change: -6% · Conversion: Difficult
Blend value · Realmo final
$25.25M
Range $22.73M – $27.78M · ±10% · vs last sale $25.25M (Oct 9 2024)
Last sale anchor
$25.25M
Oct 9 2024
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
$234 / 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
$194,016
Tax year 2023
Assessed value
$5,034,324
Assessed 2024
Previous assessed
$5,034,324
+0.0% YoY
Effective rate
3.85%
On assessed value
Land market value
$9,426,200
Improvement market value
$21,084,857
Total market value
$30,511,057
Applied tax rate
410,600.0000
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
Individual retail properties
Use group
GYM, HEALTH SPA
Status
Off-Market
Year built
2003
Construction
CONCRETE
Heating
PACKAGE
Cooling
YES
Buildings
2
Stories
2
Units
2
Total area
108,077 SF
Lot
11.85 ac (516,054 SF)
Zoning code
GC
APN
309-14-716
UPID
US07-0748914
Jurisdiction
MARICOPA
Zoning & alternative use
GC · Gilbert, AZ
Zoning GC · permitted uses
GC · 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
GYM, HEALTH SPA Current
Est. value
$29.4M
RETAIL STORES
Est. value
$39.7M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$39.3M
MEDICAL BUILDING
Est. value
$27.6M
GYM, HEALTH SPA Current
RETAIL STORES
NEIGHBORHOOD: SHOPPING CENTER
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
2003
Construction
CONCRETE
Heating
PACKAGE
Cooling
Yes
Stories
2
Buildings
2
Units
2
Lot
11.85 ac
Current owner
From public records · entity-resolved
Nhnr Hold Co 6 LLC
Entity
Free & Clear · 1 yrs held
Mailing address
1585 BROADWAY PL, NEW YORK, NY 10036-0473
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 9, 2024
$25,250,000
Nhnr Hold Co 6 LLC
Ltf Real Estate Cmbs II LLC
Special Warranty Deed
—
Oct 9, 2024
—
Ltf Lease Company LLC
Nhnr Hold Co 6 LLC
Lease
—
Jan 29, 2014
—
Ltf Real Estate Cmbs II LLC
Ltf Real Estate Company INC
Quit Claim Deed
related
—
Oct 11, 2006
—
Ltf Real Estate Holdings LLC
Ltf Operations Holdings INC
Quit Claim Deed
—
Jun 1, 2005
—
Life Time Fitness INC
Fca Real Estate Holdings LLC
Warranty Deed
—
Jun 30, 2004
—
Life Time Fitness LLC
Fca Real Estate Holdings LLC
Grant 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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