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Property profile & analytics
OFF-MARKET
Estimated value
$1,150,000
Parking lots & garages
5140 Grand Ave Glendale, AZ 85301-7701
Individually Owned
4-yr Hold
Free & Clear
Property ID
US07-1606508
Property profile
Verified
Property type
Parking lots & garages
Use group
PARKING GARAGE, PARKING STRUCTURE
Year built
1984
Total area
2,430 SF
Lot
1.07 ac (46,614 SF)
Zoning code
C-3
APN
146-16-005P
UPID
US07-1606508
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
-
5140 NW Grand Ave Parking Parking Lot & Garage
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.15M
Blend (final)
Blend
$1.15M
Owner & transaction history
Andrew J Schmidlen · 4 yrs held
Andrew J Schmidlen
since 2022
3 recorded transactions
Zoning & alternative use
C-3 · Glendale, AZ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
gross floor area of any accessory building or structure shall not exceed 50% of the building footprint of the principal building. Exception. This provision shall not apply to the following zoning districts: A-1, RR-45, C-3, B-P, M-1, and M-2. 4. Accessory buildings and structures, including tool/storage sheds, shall be included in lot coverage calculations f…
Zone name
Heavy Commercial
General category
COMMERCIAL
Zone area
290.77 ac
Top alternative use upside
Office building
$835,000
+47.4%
Neighborhood: shopping center
$700,000
+23.7%
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 Glendale submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Glendale 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
OFFICE BUILDING
$835,000
Change: +47% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$700,000
Change: +24% · Conversion: Difficult
Blend value · Realmo final
$1.15M
Range $1.04M – $1.27M · ±10%
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
$473 / 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
$7,497
Tax year 2023
Assessed value
$111,755
Assessed 2024
Previous assessed
$110,721
+0.9% YoY
Effective rate
6.71%
On assessed value
Land market value
$436,300
Improvement market value
$241,000
Total market value
$677,300
Applied tax rate
400,700.0000
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
Parking lots & garages
Use group
PARKING GARAGE, PARKING STRUCTURE
Status
Off-Market
Year built
1984
Heating
PACKAGE
Cooling
YES
Buildings
2
Stories
1
Total area
2,430 SF
Lot
1.07 ac (46,614 SF)
Zoning code
C-3
APN
146-16-005P
UPID
US07-1606508
Jurisdiction
MARICOPA
Zoning & alternative use
C-3 · Glendale, AZZoning C-3 · permitted uses
C-3 · Glendale, AZ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
gross floor area of any accessory building or structure shall not exceed 50% of the building footprint of the principal building. Exception. This provision shall not apply to the following zoning districts: A-1, RR-45, C-3, B-P, M-1, and M-2. 4. Accessory buildings and structures, including tool/storage sheds, shall be included in lot coverage calculations for all zoning districts. What are the exceptions for Accessory Building and Struct
Zone name
Heavy Commercial
General category
COMMERCIAL
Zone area
290.77 ac
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING
Est. value
$835,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$700,000
OFFICE BUILDING
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
1984
Heating
PACKAGE
Cooling
Yes
Stories
1
Buildings
2
Lot
1.07 ac
Current owner
From public records · entity-resolved
Andrew J Schmidlen
Individual
Free & Clear · 4 yrs held
Mailing address
7731 W QUESTA DR, PEORIA, AZ 85383-1869
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 14, 2022
—
Andrew J Schmidlen
Andrew J Schmidlen
Intrafamily Transfer
related
—
Jul 31, 2017
$529,364
Andrew J Schmidlen
Schmidlen,mike & Carla
Grant Deed
$529,364 · Mike & Carla Schmidlen
Apr 27, 1981
—
Mike Schmidlen
Owner Name Unavailable
Grant Deed
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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