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Property profile & analytics
OFF-MARKET
Estimated value
$14,050,000
Flex space
575 Germann Rd, Gilbert, AZ 85297-2964
Entity Owned
6-yr Hold
Absentee Owner
Free & Clear
Property ID
US07-2252305
Property summary
AI-generated overview
This Gilbert, Arizona warehouse offers flexible lease options ranging from 500 to 30,000 square feet, ideal for various business needs. Located at 575 E Germann Rd, 85297, in Maricopa County, this industrial space currently features 47,000 square feet with a mezzanine. The property includes a sophisticated 3PL picking and packing operation equipped with a pick-to-light system and hundreds of open pallet locations. On-site amenities include two forklifts, a kitting area, and a tent designated for semi-clean room operations. The space is suitable for businesses requiring both storage and labor within the warehouse. Note that this is a shared space with no public access. The monthly rental rate is $1.45 per square foot, with a 500-square-foot minimum lease requirement. The property is currently accommodating multiple tenants and is actively seeking additional businesses for growth. Interested parties should inquire for further details and scheduling a tour to view the available space and discuss pricing options.
Property profile
Verified
Property type
Flex space
Use group
LIGHT INDUSTRIAL
Year built
2019
Total area
57,585 SF
Lot
23.86 ac (1,039,465 SF)
APN
304-56-933A
UPID
US07-2252305
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
-
Think Goodness (Bike/Boat/Book/etc) Store
-
Hat Club - Distribution Center - Closed to Public Corporate Office
-
Reece Plumbing Plumbing Service Building Supply
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$13.25M
Blend (final)
Blend
$14.05M
Owner & transaction history
EASTGROUP PROPERTIES
EASTGROUP PROPERTIES
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$21.1M
+138.0%
Neighborhood: shopping center
$21.0M
+135.9%
Office building
$17.7M
+99.4%
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
INDUSTRIAL (GENERAL)
$8,880,000
Current use
RETAIL STORES
$21,140,000
Change: +138% · Conversion: Moderate
NEIGHBORHOOD: SHOPPING CENTER
$20,955,000
Change: +136% · Conversion: Difficult
OFFICE BUILDING
$17,715,000
Change: +99% · Conversion: Difficult
MEDICAL BUILDING
$14,720,000
Change: +66% · Conversion: Difficult
Blend value · Realmo final
$14.05M
Range $12.65M – $15.46M · ±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
$244 / 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
$475,753
Tax year 2023
Assessed value
$9,110,327
Assessed 2024
Previous assessed
$7,453,310
+22.2% YoY
Effective rate
5.22%
On assessed value
Land market value
$8,545,100
Improvement market value
$46,669,000
Total market value
$55,214,100
Applied tax rate
800,606.0000
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
2019
Buildings
4
Stories
1
Total area
57,585 SF
Lot
23.86 ac (1,039,465 SF)
APN
304-56-933A
UPID
US07-2252305
Jurisdiction
MARICOPA
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
INDUSTRIAL (GENERAL) Current
Est. value
$8.9M
RETAIL STORES
Est. value
$21.1M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$21.0M
OFFICE BUILDING
Est. value
$17.7M
MEDICAL BUILDING
Est. value
$14.7M
INDUSTRIAL (GENERAL) Current
RETAIL STORES
NEIGHBORHOOD: SHOPPING CENTER
OFFICE BUILDING
MEDICAL 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
2019
Stories
1
Buildings
4
Lot
23.86 ac
Current owner
From public records · entity-resolved
EASTGROUP PROPERTIES
Individual
Free & Clear · 0 yrs held
Mailing address
2200 E CAMELBACK RD STE #210, PHOENIX, AZ 85016-3456
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
—
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
No recorded transactions
No recorded transactions found for this property.
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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