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Property profile & analytics
OFF-MARKET
Estimated value
$2,365,000
Medical Office Space
8811 51st Ave Glendale, AZ 85302-4949
Entity Owned
1-yr Hold
~
Est. High Equity
Property ID
US07-1705039
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1988
Construction
CONCRETE
Total area
4,998 SF
Lot
1.12 ac (48,961 SF)
Zoning code
C-O
APN
148-09-008C
UPID
US07-1705039
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
-
Alan Persons DMD Dental Office
-
Laws Family Dentistry Dental Office
-
Diane Herro Physician
-
Anna Phuong-Ly Tran Physician
-
Janet Moran Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$2.37M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.92M
Blend (final)
Blend
$2.37M
Owner & transaction history
88 West Property LLC · 1 yrs held
88 West Property LLC
since 2024
Last sale
$2.4M
7 recorded transactions
Zoning & alternative use
C-O · Glendale, AZ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$2.2M
+91.0%
Office building
$1.6M
+39.6%
Commercial (general)
$1.5M
+33.7%
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
$2,365,000
ML approach
$2,365,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
AUTO REPAIR, GARAGE
$2,190,000
Change: +91% · Conversion: Difficult
OFFICE BUILDING
$1,600,000
Change: +40% · Conversion: Easy
COMMERCIAL (GENERAL)
$1,530,000
Change: +34% · Conversion: Easy
NEIGHBORHOOD: SHOPPING CENTER
$1,445,000
Change: +26% · Conversion: Difficult
Blend value · Realmo final
$2.37M
Range $2.13M – $2.60M · ±10% · vs last sale $2.36M (Oct 31 2024)
Last sale anchor
$2.36M
Oct 31 2024
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 2022Property tax & assessments
Tax year 2022
Tax billed
$25,308
Tax year 2022
Assessed value
$297,466
Assessed 2024
Previous assessed
$257,635
+15.5% YoY
Effective rate
8.51%
On assessed value
Land market value
$290,000
Improvement market value
$1,512,822
Total market value
$1,802,822
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 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
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
1988
Construction
CONCRETE
Heating
PACKAGE
Cooling
YES
Buildings
3
Stories
1
Units
3
Total area
4,998 SF
Lot
1.12 ac (48,961 SF)
Zoning code
C-O
APN
148-09-008C
UPID
US07-1705039
Jurisdiction
MARICOPA
Zoning & alternative use
C-O · Glendale, AZ
Zoning C-O · permitted uses
C-O · 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
AUTO REPAIR, GARAGE
Est. value
$2.2M
OFFICE BUILDING
Est. value
$1.6M
COMMERCIAL (GENERAL)
Est. value
$1.5M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.4M
AUTO REPAIR, GARAGE
OFFICE BUILDING
COMMERCIAL (GENERAL)
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
1988
Construction
CONCRETE
Heating
PACKAGE
Cooling
Yes
Stories
1
Buildings
3
Units
3
Lot
1.12 ac
Current owner
From public records · entity-resolved
88 West Property LLC
Entity
Mailing address
1672 38TH AVE S, GRAND FORKS, ND 58201-3453
Ownership since
2024
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
Oct 31, 2024
$2,362,500
88 West Property LLC
Elizabeth J Oster
Special Warranty Deed
$1,320,000 · Mountain America FCU
Mar 29, 2016
—
Oster Trust
Oster Trust
Quit Claim Deed
related
—
Nov 12, 2014
—
Oster Trust
Oster,bruce D & Elizabeth J
Quit Claim Deed
related
—
Oct 7, 2003
—
Bruce Oster
Security State Bank
Grant Deed
related
—
Jun 24, 2003
$1,225,000
Bruce Oster
Mtc Investments
Grant Deed
—
Feb 24, 2003
$1,025,000
Mtc Investments
Copperwood Properties LLC
Grant Deed
$360,000 · Summit Bank
Jul 9, 2002
—
Copperwood Properties LLC
Stuck Trust
Grant Deed
related
—
Jan 30, 2001
—
Stuck Trust
Stuck,c W & Sally R
Quit Claim Deed
related
—
Jun 16, 2000
$875,000
Stuck C W
Medical West Investors LP
Grant Deed
$565,000 · Founders Bank Of Arizona
Jul 30, 1987
$155,000
Medical West Inv
Hunte
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.
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