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Property profile & analytics
FOR SALE
Office buildings
78 W Ray Rd, Chandler, AZ 85225
Entity Owned
1-yr Hold
Free & Clear
Property ID
US07-0559054
For Sale
1 / 2
$1,750,000
78 W Ray Rd, Chandler, AZ 85225
View Listing →
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1967
Construction
CONCRETE
Total area
9,692 SF
Lot
1.04 ac (45,325 SF)
Zoning code
C-3
APN
302-73-091V
UPID
US07-0559054
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
-
Your PC Repair Techs Tech Support Center (Bike/Boat/Book/etc) Store
-
FANS Across America Charitable Foundation Social Service Agency Charitable Organization
-
Elite Roofing Roofing Company General Contractor
-
Homeowner Advocates LLC Construction Company General Contractor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.82M
Blend (final)
Blend
$2.11M
Owner & transaction history
78 W Ray Road LLC · 1 yrs held
78 W Ray Road LLC
since 2025
Last sale
$1.4M
7 recorded transactions
Zoning & alternative use
C-3 · Chandler, AZ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$2.0M
+13.3%
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 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
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
$1,810,000
Current use
MEDICAL BUILDING
$2,045,000
Change: +13% · Conversion: Easy
WAREHOUSE, STORAGE
$1,765,000
Change: -2% · Conversion: Difficult
Blend value · Realmo final
$2.11M
Range $1.89M – $2.32M · ±10% · vs last sale $1.40M (Mar 9 2025)
Last sale anchor
$1.40M
Mar 9 2025
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
$217 / 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
$13,411
Tax year 2023
Assessed value
$265,700
Assessed 2024
Previous assessed
$264,707
+0.4% YoY
Effective rate
5.05%
On assessed value
Land market value
$685,600
Improvement market value
$924,700
Total market value
$1,610,300
Applied tax rate
800,300.0000
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
Office buildings
Use group
OFFICE BUILDING
Status
For Sale
Year built
1967
Construction
CONCRETE
Heating
PACKAGE
Cooling
YES
Stories
1
Total area
9,692 SF
Lot
1.04 ac (45,325 SF)
Zoning code
C-3
APN
302-73-091V
UPID
US07-0559054
Jurisdiction
MARICOPA
Zoning & alternative use
C-3 · Chandler, AZ
Zoning C-3 · permitted uses
C-3 · 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
OFFICE BUILDING Current
Est. value
$1.8M
MEDICAL BUILDING
Est. value
$2.0M
WAREHOUSE, STORAGE
Est. value
$1.8M
OFFICE BUILDING Current
MEDICAL BUILDING
WAREHOUSE, STORAGE
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
1967
Construction
CONCRETE
Heating
PACKAGE
Cooling
Yes
Stories
1
Lot
1.04 ac
Current owner
From public records · entity-resolved
78 W Ray Road LLC
Entity
Free & Clear · 1 yrs held
Mailing address
698 N IOWA ST, CHANDLER, AZ 85225-6723
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
10 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 9, 2025
$1,400,000
78 W Ray Road LLC
Neh Properties LLC
Warranty Deed
—
Jun 26, 2024
$1,400,000
Neh Properties LLC
First Credit Union
Special Warranty Deed
—
Apr 11, 2008
$1,000,000
San Tan Cu
Bonngard Living Trust
Grant Deed
—
Feb 7, 2008
—
Bonngard Living Trust
Bonngard,roger O & Nancy R
Quit Claim Deed
related
—
Aug 10, 2000
—
Roger O Bonngard
Bonngard Trust
Quit Claim Deed
related
$356,000 · Rocky Mountain Bank
Aug 26, 1988
$215,000
David Leo Meyer
—
Deed Of Trust
related
—
—
—
Roger E Bonngard
—
Deed Of Trust
related
$385,000 · First National Bank Arizona
—
—
Store,room
—
Deed Of Trust
related
—
—
—
Roger Bonngard
—
Deed Of Trust
related
$26,024 · Rocky Mountain Bank
—
—
Roger O Bonngard
—
Deed Of Trust
related
$31,469 · Seller
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
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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