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Property profile & analytics
OFF-MARKET
Estimated value
$1,365,000
Medical Office Space
4915 Baseline Rd Ste 103 Gilbert, AZ 85234-2966
Entity Owned
19-yr Hold
~
Est. High Equity
Property ID
US07-2037843
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
2006
Construction
STEEL FRAME
Total area
4,433 SF
Lot
0.05 ac (2,141 SF)
Zoning code
SC
APN
304-11-380
UPID
US07-2037843
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
$1.63M
Blend (final)
Blend
$1.37M
Owner & transaction history
L & N Real Estate Investments LLC · 19 yrs held
L & N Real Estate Investments LLC
since 2006
Last sale
$1.1M
1 recorded transaction
Zoning & alternative use
SC · Gilbert, AZ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The Shopping Center zoning district permits a group of medium to large retail, offices and other commercial establishments that are planned, developed, and managed as a single property. Site features, amenities and on site parking are typically shared.
Zone name
Shopping Center
General category
COMMERCIAL
Zone area
884.59 ac
Source
Realmo
Top alternative use upside
Auto repair, garage
$2.0M
+73.7%
Retail stores
$1.6M
+43.6%
Neighborhood: shopping center
$1.6M
+42.4%
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
$1,135,000
Current use
AUTO REPAIR, GARAGE
$1,970,000
Change: +74% · Conversion: Difficult
RETAIL STORES
$1,625,000
Change: +44% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$1,615,000
Change: +42% · Conversion: Difficult
OFFICE BUILDING
$960,000
Change: -15% · Conversion: Easy
Blend value · Realmo final
$1.37M
Range $1.23M – $1.50M · ±10% · vs last sale $1.10M (Jun 10 2025)
Last sale anchor
$1.10M
Jun 10 2025
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
$308 / 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
$4,605
Tax year 2023
Assessed value
$107,168
Assessed 2024
Previous assessed
$87,261
+22.8% YoY
Effective rate
4.30%
On assessed value
Land market value
$129,900
Improvement market value
$519,600
Total market value
$649,500
Applied tax rate
410,609.0000
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
4,433 SF
Lot
0.05 ac (2,141 SF)
Zoning code
SC
APN
304-11-380
UPID
US07-2037843
Jurisdiction
MARICOPA
Zoning & alternative use
SC · Gilbert, AZZoning SC · permitted uses
SC · Gilbert, AZ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The Shopping Center zoning district permits a group of medium to large retail, offices and other commercial establishments that are planned, developed, and managed as a single property. Site features, amenities and on site parking are typically shared.
Zone name
Shopping Center
General category
COMMERCIAL
Zone area
884.59 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
MEDICAL BUILDING Current
Est. value
$1.1M
AUTO REPAIR, GARAGE
Est. value
$2.0M
RETAIL STORES
Est. value
$1.6M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.6M
OFFICE BUILDING
Est. value
$960,000
MEDICAL BUILDING Current
AUTO REPAIR, GARAGE
RETAIL STORES
NEIGHBORHOOD: SHOPPING CENTER
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
L & N Real Estate Investments LLC
Entity
Mailing address
4915 E BASELINE RD STE #103, GILBERT, AZ 85234-2966
Ownership since
2006
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 6, 2006
$618,680
L & N Real Estate Investments LLC
Gateway Medical Professional Villag
Special Warranty Deed
$832,000 · Cit Small Business Lending Corp
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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