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Property profile & analytics
OFF-MARKET
Estimated value
$6,900,000
Flex space
500 56th St Chandler, AZ 85226-2506
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US07-1023587
Property profile
Verified
Property type
Flex space
Use group
LIGHT INDUSTRIAL
Year built
1988
Construction
CONCRETE
Total area
24,398 SF
Lot
2.71 ac (118,007 SF)
Zoning code
I-1
APN
301-84-070
UPID
US07-1023587
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
-
Choice Healthcare, Inc. Production Facility
-
Combs Pool Repair Renovation Specialist General Contractor
-
Good Clean Fundraising Hardware & Home Improvement
-
Orange Cactus Remodeling Hardware & Home Improvement Kitchen & Bath Showroom
-
SkyGloss Chandler Auto Repair Shop
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$6.08M
Blend (final)
Blend
$6.90M
Owner & transaction history
Pegasus Chandler Gilbert Owner LLC · 4 yrs held
Pegasus Chandler Gilbert Owner LLC
since 2021
Last sale
$7.6M
7 recorded transactions
Zoning & alternative use
I-1 · Chandler, AZ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$11.0M
+186.4%
Auto repair, garage
$9.4M
+144.0%
Warehouse, storage
$6.4M
+66.2%
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 Chandler submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Chandler 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
$7,245,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RETAIL STORES
$11,025,000
Change: +186% · Conversion: Moderate
AUTO REPAIR, GARAGE
$9,395,000
Change: +144% · Conversion: Easy
WAREHOUSE, STORAGE
$6,395,000
Change: +66% · Conversion: Easy
OFFICE BUILDING
$5,550,000
Change: +44% · Conversion: Difficult
Blend value · Realmo final
$6.90M
Range $6.21M – $7.59M · ±10% · vs last sale $7.56M (Oct 15 2021)
Last sale anchor
$7.56M
Oct 15 2021
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
$283 / 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
$36,213
Tax year 2023
Assessed value
$818,681
Assessed 2024
Previous assessed
$626,773
+30.6% YoY
Effective rate
4.42%
On assessed value
Land market value
$1,450,600
Improvement market value
$3,511,100
Total market value
$4,961,700
Applied tax rate
280,300.0000
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
Flex space
Use group
LIGHT INDUSTRIAL
Status
Off-Market
Year built
1988
Construction
CONCRETE
Heating
HEAT PUMP
Cooling
EVAPORATIVE
Buildings
2
Stories
1
Units
2
Total area
24,398 SF
Lot
2.71 ac (118,007 SF)
Zoning code
I-1
APN
301-84-070
UPID
US07-1023587
Jurisdiction
MARICOPA
Zoning & alternative use
I-1 · Chandler, AZ
Zoning I-1 · permitted uses
I-1 · Chandler, AZ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Chandler. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES
Est. value
$11.0M
AUTO REPAIR, GARAGE
Est. value
$9.4M
WAREHOUSE, STORAGE
Est. value
$6.4M
OFFICE BUILDING
Est. value
$5.6M
RETAIL STORES
AUTO REPAIR, GARAGE
WAREHOUSE, STORAGE
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
1988
Construction
CONCRETE
Heating
HEAT PUMP
Cooling
Yes
Stories
1
Buildings
2
Units
2
Lot
2.71 ac
Current owner
From public records · entity-resolved
Pegasus Chandler Gilbert Owner LLC
Entity
Mailing address
8888 E RAINTREE DR STE #155, SCOTTSDALE, AZ 85260-3952
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 15, 2021
$7,558,000
Pegasus Chandler Gilbert Owner LLC
Oakland Partners LLC
Special Warranty Deed
$805,917,000 · Morgan Stanley Credit Corp
Nov 25, 2019
—
Oakland Partners LLC
Presson Corp
Grant Deed
—
Nov 28, 2017
—
Presson Corp
—
Deed
related
$2,000,000 · Keybank USA
Jan 13, 2017
$910,040
Presson Corp
Derik Ventures INC
Grant Deed
—
Jan 13, 2017
—
Presson Corp
Presson Advisory LLC
Quit Claim Deed
—
Oct 8, 1993
$538,500
Advisory L L C Presson
Fidelity Mutual
Grant Deed
$487,500 · Seller Carry Back
Jul 31, 1987
$466,127
Oakland Business
—
Grant Deed
related
—
—
—
Presson Advisory LLC
—
Deed Of Trust
related
$1,420,000 · Bankers Trust Co
—
—
Presson Corp
—
Deed Of Trust
related
$2,000,000 · Keybank USA
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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