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Property profile & analytics
OFF-MARKET
Estimated value
$2,215,000
Office buildings
38424 Spur Cross Rd Cave Creek, AZ 85331-8138
Entity Owned
4-yr Hold
Free & Clear
Property ID
US07-1542587
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
2006
Construction
STEEL FRAME
Total area
10,452 SF
Lot
1.13 ac (49,199 SF)
Zoning code
TCC
APN
211-08-039F
UPID
US07-1542587
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
-
Quality Interactive Montessori High School Daycare Center
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$2.98M
Comparable Approach
Comparable
$2.83M
Blend (final)
Blend
$2.22M
Owner & transaction history
Sm Real Estate Holdings LLC · 4 yrs held
Sm Real Estate Holdings LLC
since 2022
Last sale
$1.5M
7 recorded transactions
Zoning & alternative use
TCC · Cave Creek, AZ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
O2017-11 Amending the Official Town of Cave Creek Zoning Map by Changing the Underlying Zone of Parcels 216-060-020 and a Portion of 216-06-019C from a Combination of Multiple Residence (MR) and Town Core Commercial (TCC) to Commercial Buffer (TB) 08/07/2017 O2018-03 Amending the Zoning Ordinance, Chapter 12 - Site Plans, Section 12.3 entitled “Applications…
Zone name
Town Core Commercial
General category
COMMERCIAL
Zone area
324.81 ac
Top alternative use upside
Retail stores
$3.5M
+40.7%
Medical building
$2.7M
+6.5%
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 Cave Creek submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Cave Creek 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
$1,690,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$3,225,000
6.5%
$2,975,000
7%
$2,765,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$2,500,000
Current use
RETAIL STORES
$3,515,000
Change: +41% · Conversion: Moderate
MEDICAL BUILDING
$2,660,000
Change: +6% · Conversion: Easy
INDUSTRIAL (GENERAL)
$2,400,000
Change: -4% · Conversion: Difficult
WAREHOUSE, STORAGE
$2,140,000
Change: -14% · Conversion: Difficult
Blend value · Realmo final
$2.22M
Range $1.99M – $2.44M · ±10% · vs last sale $1.50M (Mar 4 2022)
Last sale anchor
$1.50M
Mar 4 2022
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
$212 / 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
$9,478
Tax year 2023
Assessed value
$258,732
Assessed 2024
Previous assessed
$227,920
+13.5% YoY
Effective rate
3.66%
On assessed value
Land market value
$387,100
Improvement market value
$2,200,217
Total market value
$2,587,317
Applied tax rate
932,200.0000
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
2006
Construction
STEEL FRAME
Heating
PACKAGE
Cooling
YES
Stories
2
Total area
10,452 SF
Lot
1.13 ac (49,199 SF)
Zoning code
TCC
APN
211-08-039F
UPID
US07-1542587
Jurisdiction
MARICOPA
Zoning & alternative use
TCC · Cave Creek, AZZoning TCC · permitted uses
TCC · Cave Creek, AZ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
O2017-11 Amending the Official Town of Cave Creek Zoning Map by Changing the Underlying Zone of Parcels 216-060-020 and a Portion of 216-06-019C from a Combination of Multiple Residence (MR) and Town Core Commercial (TCC) to Commercial Buffer (TB) 08/07/2017 O2018-03 Amending the Zoning Ordinance, Chapter 12 - Site Plans, Section 12.3 entitled “Applications - General Provisions” and Section 12.5 entitled “Review Criteria” and Appen
Zone name
Town Core Commercial
General category
COMMERCIAL
Zone area
324.81 ac
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$2.5M
RETAIL STORES
Est. value
$3.5M
MEDICAL BUILDING
Est. value
$2.7M
INDUSTRIAL (GENERAL)
Est. value
$2.4M
WAREHOUSE, STORAGE
Est. value
$2.1M
OFFICE BUILDING Current
RETAIL STORES
MEDICAL BUILDING
INDUSTRIAL (GENERAL)
WAREHOUSE, STORAGE
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
2
Lot
1.13 ac
Current owner
From public records · entity-resolved
Sm Real Estate Holdings LLC
Entity
Free & Clear · 4 yrs held
Mailing address
55 E MONROE ST STE #3300, CHICAGO, IL 60603-5792
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 4, 2022
$1,500,000
Sm Real Estate Holdings LLC
38424 N Spur Cross Rd LLC
Special Warranty Deed
—
Jun 22, 2012
—
38424 N Spur Cross Rd LLC
Quality Interactive Montessori
Quit Claim Deed
related
—
May 18, 2012
$850,000
Quality Interactive Montessori
Red Spur Holdings Vii LLC
Quit Claim Deed
related
$759,242 · Gateway Commercial Bank
Nov 7, 2011
$500,000
Red Spur Holdings Vii LLC
Mcelenney,sean K
Trustees Deed
related
—
May 15, 2006
—
Spur Cross Station LLC
Sheehan,james & Valerie
Warranty Deed
$1,850,000 · M & I Marshall & Isley Bank
Feb 18, 2005
$450,000
James Sheehan
Wanek Trust
Warranty Deed
$450,000 · M & I Marshall & Isley Bank
Apr 15, 1997
—
Wanek Trust
Norman Wanek
Quit Claim Deed
related
—
—
—
Quality Interactive Montessori
—
Deed Of Trust
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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