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Property profile & analytics
OFF-MARKET
Estimated value
$690,000
Assisted living facilities
502 Ter Ave Gilbert, AZ 85234-2434
Entity Owned
5-yr Hold
Property ID
US07-1465925
Property profile
Verified
Property type
Assisted living facilities
Use group
HOMES (RETIRED, NURSING)
Year built
1987
Construction
FRAME
Total area
4,083 SF
Lot
0.27 ac (11,800 SF)
Zoning code
SF-10
APN
304-95-439
UPID
US07-1465925
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
$707k
Blend (final)
Blend
$690k
Owner & transaction history
Arlon Investments LLC · 5 yrs held
Arlon Investments LLC
since 2021
Last sale
$800,000
7 recorded transactions
Zoning & alternative use
SF-10 · Gilbert, AZ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
Single Family 10 is a one or the larger residential subdivision zoning districts and are often referred to a 1/4 acre lots. The homes within this district are typically constructed by home builders and often have front and side facing garages, courtyards, patios, porches and may have multiple accessory structures. The density of this zoning district varies b…
Zone name
Single Family Residential
General category
RESIDENTIAL
Zone area
2,647.69 ac
Source
Realmo
Top alternative use upside
Medical building
$1.0M
+8.3%
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
$665,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
HOMES (RETIRED, HANDICAP, REST, CONVALESCENT, NURSING)
$965,000
Current use
MEDICAL BUILDING
$1,045,000
Change: +8% · Conversion: Difficult
OFFICE BUILDING
$885,000
Change: -8% · Conversion: Difficult
Blend value · Realmo final
$690k
Range $621k – $759k · ±10% · vs last sale $800k (Mar 2 2021)
Last sale anchor
$800k
Mar 2 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
$169 / 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
$3,219
Tax year 2023
Assessed value
$64,080
Assessed 2024
Previous assessed
$64,080
+0.0% YoY
Effective rate
5.02%
On assessed value
Land market value
$128,100
Improvement market value
$512,700
Total market value
$640,800
Applied tax rate
410,637.0000
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
Assisted living facilities
Use group
HOMES (RETIRED, NURSING)
Status
Off-Market
Year built
1987
Construction
FRAME
Heating
YES
Cooling
REFRIGERATOR
Stories
1
Rooms
8
Bathrooms
3
Total area
4,083 SF
Lot
0.27 ac (11,800 SF)
Zoning code
SF-10
APN
304-95-439
UPID
US07-1465925
Jurisdiction
MARICOPA
Zoning & alternative use
SF-10 · Gilbert, AZZoning SF-10 · permitted uses
SF-10 · Gilbert, AZ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
Single Family 10 is a one or the larger residential subdivision zoning districts and are often referred to a 1/4 acre lots. The homes within this district are typically constructed by home builders and often have front and side facing garages, courtyards, patios, porches and may have multiple accessory structures. The density of this zoning district varies between 2 and 5 dwelling units per acre
Zone name
Single Family Residential
General category
RESIDENTIAL
Zone area
2,647.69 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
HOMES (RETIRED, HANDICAP, REST, CONVALESCENT, NURSING) Current
Est. value
$965,000
MEDICAL BUILDING
Est. value
$1.0M
OFFICE BUILDING
Est. value
$885,000
HOMES (RETIRED, HANDICAP, REST, CONVALESCENT, NURSING) Current
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
1987
Construction
FRAME
Heating
YES
Cooling
Yes
Stories
1
Rooms
8
Bathrooms
3
Lot
0.27 ac
Current owner
From public records · entity-resolved
Arlon Investments LLC
Entity
Mailing address
2942 N 24TH ST STE 114STE114, PHOENIX, AZ 85016-7844
Mailing matches property
Yes
Owner-occupied
Yes
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
15 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 2, 2021
$800,000
Arlon Investments LLC
Fomberto Munteanu
Special Warranty Deed
—
Dec 26, 2019
—
Fomberto Munteanu
Fomberto Munteanu
Quit Claim Deed
related
—
Jan 31, 2019
$385,000
Fomberto Munteanu
Niculae Tudor
Warranty Deed
$365,750 · American Financial Network INC
Dec 10, 2015
—
Tudor Niculae
Niculae,tudor
Quit Claim Deed
related
—
Dec 7, 2015
—
Niculae Tudor
Maria Niculae
Intrafamily Transfer
related
$282,000 · United Wholesale Mortgage
Jun 8, 2004
$300,000
Tudor Niculae
Ventura,erlinda
Grant Deed
$240,000 · American Mortgage Express Fina
Oct 16, 1998
$193,000
Erlinda P Ventura
Watson,barbara J
Grant Deed
$154,207 · Washington Mutual Fsb
Jul 25, 1994
—
Barbara J Watson
Watson
Quit Claim Deed
related
—
Jun 11, 1987
$35,000
Gregory Watson
Weste
Grant Deed
—
—
—
Erlinda P Ventura
—
Deed Of Trust
related
$38,793 · Republic Financial Corp
—
—
Gregory R Watson
—
Deed Of Trust
related
$134,000 · Molton Allen & Williams Ltd
—
—
Erlinda P Ventura
—
Deed Of Trust
related
$176,000 · Bank Of America
—
—
Erlinda P Ventura
—
Deed Of Trust
related
$22,000 · Bank Of America
—
—
Tudor Niculae
—
Deed Of Trust
related
$60,000 · American Mortgage Express Fina
—
—
Gregory R Watson
—
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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