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Property profile & analytics
OFF-MARKET
Estimated value
$545,000
Parking lots & garages
40812 251st Ave Morristown, AZ 85342-8821
Entity Owned
2-yr Hold
Free & Clear
Property ID
US07-2634586
Property profile
Verified
Property type
Parking lots & garages
Use group
RESIDENTIAL PARKING GARAGE
Year built
2004
Construction
STEEL FRAME
Total area
1,200 SF
Lot
2 ac (87,120 SF)
Zoning code
RU-43
APN
503-19-048E
UPID
US07-2634586
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$329k
Blend (final)
Blend
$545k
Owner & transaction history
Dk Owens Properties LLC · 2 yrs held
Dk Owens Properties LLC
since 2023
Last sale
$539,000
5 recorded transactions
Zoning & alternative use
RU-43 · Morristown, AZ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$535,000
+90.0%
Retail stores
$405,000
+44.0%
Neighborhood: shopping center
$380,000
+35.2%
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 Morristown submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Morristown 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
$550,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
AUTO REPAIR, GARAGE
$535,000
Change: +90% · Conversion: Difficult
RETAIL STORES
$405,000
Change: +44% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$380,000
Change: +35% · Conversion: Difficult
Blend value · Realmo final
$545k
Range $491k – $600k · ±10% · vs last sale $539k (Aug 14 2023)
Last sale anchor
$539k
Aug 14 2023
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
$454 / 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
$1,554
Tax year 2023
Assessed value
$22,580
Assessed 2024
Previous assessed
$22,580
+0.0% YoY
Effective rate
6.88%
On assessed value
Land market value
$104,100
Improvement market value
$121,701
Total market value
$225,801
Applied tax rate
750,006.0000
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
Parking lots & garages
Use group
RESIDENTIAL PARKING GARAGE
Status
Off-Market
Year built
2004
Construction
STEEL FRAME
Heating
NONE
Buildings
2
Stories
1
Total area
1,200 SF
Lot
2 ac (87,120 SF)
Zoning code
RU-43
APN
503-19-048E
UPID
US07-2634586
Jurisdiction
MARICOPA
Zoning & alternative use
RU-43 · Morristown, AZ
Zoning RU-43 · permitted uses
RU-43 · Morristown, AZ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Morristown. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
AUTO REPAIR, GARAGE
Est. value
$535,000
RETAIL STORES
Est. value
$405,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$380,000
AUTO REPAIR, GARAGE
RETAIL STORES
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
2004
Construction
STEEL FRAME
Heating
NONE
Stories
1
Buildings
2
Lot
2 ac
Current owner
From public records · entity-resolved
Dk Owens Properties LLC
Entity
Free & Clear · 2 yrs held
Mailing address
PO BOX 174, CLE ELUM, WA 98922-0174
Ownership since
2023
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
Aug 14, 2023
$539,000
Dk Owens Properties LLC
Ruth E Shriver
Warranty Deed
—
Jan 3, 2022
—
Ruth E Shriver
Ruth E Shriver
Intrafamily Transfer
related
—
Jun 16, 2021
—
Avery Shriver
Ruth Shriver
Beneficiary Deed
related
—
May 20, 2016
$195,000
Gary Shriver
Lewis,edward
Warranty Deed
—
Sep 12, 2005
$260,000
Edward Lewis
Castantine,timothy & Mary J
Warranty Deed
—
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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