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Property profile & analytics
OFF-MARKET
Estimated value
$3,150,000
Warehouses
45 Sunway Dr, Gilbert, AZ 85233-5017
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US07-0607411
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1998
Construction
CONCRETE
Total area
13,115 SF
Lot
0.83 ac (36,288 SF)
Zoning code
I-1
APN
302-23-029
UPID
US07-0607411
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
-
Chandler Dial-A-Ride City Government Office
-
Sherdian Simpson Auto Parts Store Auto Parts Store
-
Kadian Parke Auto Parts Store Auto Parts Store
-
SERVPRO of Gilbert / Chandler South / Ahwatukee & South Tempe / Mesa Southeast Hardware & Home Improvement Construction Company
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$3.15M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.45M
Blend (final)
Blend
$3.15M
Owner & transaction history
Apogee Investments LLC · 2 yrs held
Apogee Investments LLC
since 2024
Last sale
$3.2M
7 recorded transactions
Zoning & alternative use
I-1 · Gilbert, AZ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$4.8M
+104.9%
Neighborhood: shopping center
$4.8M
+103.1%
Medical building
$3.4M
+42.6%
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
$3,150,000
ML approach
$3,150,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$2,350,000
Current use
RETAIL STORES
$4,815,000
Change: +105% · Conversion: Moderate
NEIGHBORHOOD: SHOPPING CENTER
$4,775,000
Change: +103% · Conversion: Moderate
MEDICAL BUILDING
$3,350,000
Change: +43% · Conversion: Difficult
OFFICE BUILDING
$2,915,000
Change: +24% · Conversion: Difficult
Blend value · Realmo final
$3.15M
Range $2.84M – $3.47M · ±10% · vs last sale $3.15M (Apr 9 2024)
Last sale anchor
$3.15M
Apr 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
$240 / 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
$13,568
Tax year 2022
Assessed value
$309,738
Assessed 2024
Previous assessed
$309,738
+0.0% YoY
Effective rate
4.38%
On assessed value
Land market value
$416,700
Improvement market value
$1,460,500
Total market value
$1,877,200
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
1998
Construction
CONCRETE
Heating
NONE
Cooling
EVAPORATIVE
Stories
1
Total area
13,115 SF
Lot
0.83 ac (36,288 SF)
Zoning code
I-1
APN
302-23-029
UPID
US07-0607411
Jurisdiction
MARICOPA
Zoning & alternative use
I-1 · Gilbert, AZ
Zoning I-1 · permitted uses
I-1 · 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
WAREHOUSE, STORAGE Current
Est. value
$2.4M
RETAIL STORES
Est. value
$4.8M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$4.8M
MEDICAL BUILDING
Est. value
$3.4M
OFFICE BUILDING
Est. value
$2.9M
WAREHOUSE, STORAGE Current
RETAIL STORES
NEIGHBORHOOD: SHOPPING CENTER
MEDICAL BUILDING
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
1998
Construction
CONCRETE
Heating
NONE
Cooling
Yes
Stories
1
Lot
0.83 ac
Current owner
From public records · entity-resolved
Apogee Investments LLC
Entity
Mailing address
1423 S HIGLEY RD STE #127, MESA, AZ 85206-3450
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
18 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 9, 2024
$3,150,000
Apogee Investments LLC
Firepit Holdings Corp
Warranty Deed
$1,597,250 · Cibc Bank USA
Apr 9, 2024
—
Apogee Investments LLC
—
Deed
related
$2,471,000 · Cibc Bank USA
Nov 6, 2020
—
Firepit Holdings Corp
—
Deed
related
$1,312,000 · Jpmorgan Chase Bank NA
Nov 14, 2017
—
Firepit Holdings Corp
—
Deed
related
$552,000 · Cdc Small Business Finance Corp
May 10, 2017
—
Firepit Holdings Corp
William Dillard LLC
Special Warranty Deed
$767,500
Sep 4, 2013
$1,250,000
William Dillard LLC
Sunway LLC
Grant Deed
$550,000 · Bank Of America
Jun 22, 2010
$825,000
Sunway LLC
Zions First National Bank
Deed
$425,000 · National Bank Of Arizona
Nov 13, 2009
$762,097
Zions First Natl Bk
Gillespie Margaret A
Trustees Deed
related
—
Oct 6, 2006
$1,350,000
Kb LLC
Klusman,paul
Grant Deed
$712,500 · Western National Bank
Oct 6, 2006
—
Paul Klusman
Klusman Family Trust
Quit Claim Deed
related
—
Feb 26, 2003
—
Klusman,tr
Klusman,paul & Sherry L
Quit Claim Deed
related
—
Jun 30, 1999
$935,000
Klusman,paul & Sherry L
Sunrise Partners LLC
Trustees Deed
$28,000 · Seller
Jun 30, 1999
$650,000
Sunrise Partners LLC
Erickson,stephen R & Suzanne S
Trustees Deed
—
Jul 1, 1997
$41,158
Robert A Peterson JR.
Stephen Erickson
Grant Deed
—
Feb 25, 1997
$164,632
Stephen R Erickson
New Credit Corp
Grant Deed
$74,000 · Seller
Dec 12, 1994
$4,100,000
New Church Ventures Credit Corp
Fmc Holding Corp
Grant Deed
related
—
—
—
Robert A Peterson SR.
—
Deed Of Trust
related
—
—
—
Sunway LLC
—
Deed Of Trust
related
$425,000 · National Bank Arizona
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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