Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$38,670,000
Commercial real estate
5255 Phelps Rd Glendale, AZ 85306-1303
Trust Owned
26-yr Hold
Free & Clear
Property ID
US07-0408068
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Year built
1996
Construction
CONCRETE
Total area
85,856 SF
Lot
12.22 ac (532,201 SF)
Zoning code
B-P
APN
200-50-013C
UPID
US07-0408068
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
-
Emser Tile Hardware & Home Improvement Carpet & Flooring Store
-
Spisak Dance Academy Training Center
-
OxiMedical Oxygen Medical Supply Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$38.26M
Blend (final)
Blend
$38.67M
Owner & transaction history
Reeter Trust · 26 yrs held
Reeter Trust
since 1999
1 recorded transaction
Zoning & alternative use
B-P · Glendale, AZ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$37.6M
+42.9%
Office building
$27.5M
+4.4%
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 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
COMMERCIAL (GENERAL)
$26,315,000
Current use
AUTO REPAIR, GARAGE
$37,610,000
Change: +43% · Conversion: Difficult
OFFICE BUILDING
$27,480,000
Change: +4% · Conversion: Easy
NEIGHBORHOOD: SHOPPING CENTER
$24,810,000
Change: -6% · Conversion: Difficult
Blend value · Realmo final
$38.67M
Range $34.80M – $42.54M · ±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
$450 / 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
$86,156
Tax year 2023
Assessed value
$1,765,946
Assessed 2024
Previous assessed
$1,953,334
-9.6% YoY
Effective rate
4.88%
On assessed value
Land market value
$2,798,300
Improvement market value
$7,904,400
Total market value
$10,702,700
Applied tax rate
110,700.0000
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
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Status
Off-Market
Year built
1996
Construction
CONCRETE
Heating
PACKAGE
Cooling
YES
Buildings
6
Stories
1
Units
4
Total area
85,856 SF
Lot
12.22 ac (532,201 SF)
Zoning code
B-P
APN
200-50-013C
UPID
US07-0408068
Jurisdiction
MARICOPA
Zoning & alternative use
B-P · Glendale, AZ
Zoning B-P · permitted uses
B-P · Glendale, AZ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Glendale. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$26.3M
AUTO REPAIR, GARAGE
Est. value
$37.6M
OFFICE BUILDING
Est. value
$27.5M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$24.8M
COMMERCIAL (GENERAL) Current
AUTO REPAIR, GARAGE
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
1996
Construction
CONCRETE
Heating
PACKAGE
Cooling
Yes
Stories
1
Buildings
6
Units
4
Lot
12.22 ac
Current owner
From public records · entity-resolved
Reeter Trust
Trust
Free & Clear · 26 yrs held
Mailing address
6807 N PEPPER TREE LN, PARADISE VALLEY, AZ 85253-3346
Ownership since
1999
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
Dec 30, 1999
$3,465,000
Reeter Trust
51 Bells LP
Grant Deed
—
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 5255 Phelps Rd?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
