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Property profile & analytics
OFF-MARKET
Estimated value
$25,165,000
Assisted living facilities
941 Elliot Rd Gilbert, AZ 85234-7100
Entity Owned
1-yr Hold
~
Est. High Equity
Property ID
US07-0392902
Property profile
Verified
Property type
Assisted living facilities
Use group
HOMES (RETIRED, NURSING)
Year built
2019
Total area
107,138 SF
Lot
5.58 ac (243,237 SF)
Zoning code
SF-35
APN
304-22-895
UPID
US07-0392902
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
-
Reserve Wellness Spa & Salon Hair Salon Nail Salon
-
American Groves Senior Living Nursing Home Retirement Community
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$25.27M
Blend (final)
Blend
$25.17M
Owner & transaction history
941 Arizona I LLC · 1 yrs held
941 Arizona I LLC
since 2025
1 recorded transaction
Zoning & alternative use
SF-35 · Gilbert, AZ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
Single Family 35 is a large residential lot low density, zoning category allowing up to a maximum of 2 primary dwelling unit per acre. The semi rural properties often have an agricultural character. The large lots are typically for custom homes with flood irrigation which may have septic systems and often house multiple accessory structures.
Zone name
Single Family Residential
General category
RESIDENTIAL
Zone area
2,227.42 ac
Source
Realmo
Top alternative use upside
Retail stores
$39.3M
+55.6%
Neighborhood: shopping center
$39.0M
+54.2%
Medical building
$27.4M
+8.3%
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 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
HOMES (RETIRED, HANDICAP, REST, CONVALESCENT, NURSING)
$25,285,000
Current use
RETAIL STORES
$39,335,000
Change: +56% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$38,990,000
Change: +54% · Conversion: Difficult
MEDICAL BUILDING
$27,380,000
Change: +8% · Conversion: Difficult
OFFICE BUILDING
$23,225,000
Change: -8% · Conversion: Difficult
Blend value · Realmo final
$25.17M
Range $22.65M – $27.68M · ±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
$235 / 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
$96,114
Tax year 2023
Assessed value
$2,289,049
Assessed 2024
Previous assessed
$1,490,310
+53.6% YoY
Effective rate
4.20%
On assessed value
Land market value
$2,815,900
Improvement market value
$20,074,590
Total market value
$22,890,490
Applied tax rate
410,600.0000
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
Assisted living facilities
Use group
HOMES (RETIRED, NURSING)
Status
Off-Market
Year built
2019
Heating
NONE
Buildings
7
Stories
2
Total area
107,138 SF
Lot
5.58 ac (243,237 SF)
Zoning code
SF-35
APN
304-22-895
UPID
US07-0392902
Jurisdiction
MARICOPA
Zoning & alternative use
SF-35 · Gilbert, AZZoning SF-35 · permitted uses
SF-35 · Gilbert, AZ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
Single Family 35 is a large residential lot low density, zoning category allowing up to a maximum of 2 primary dwelling unit per acre. The semi rural properties often have an agricultural character. The large lots are typically for custom homes with flood irrigation which may have septic systems and often house multiple accessory structures.
Zone name
Single Family Residential
General category
RESIDENTIAL
Zone area
2,227.42 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
HOMES (RETIRED, HANDICAP, REST, CONVALESCENT, NURSING) Current
Est. value
$25.3M
RETAIL STORES
Est. value
$39.3M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$39.0M
MEDICAL BUILDING
Est. value
$27.4M
OFFICE BUILDING
Est. value
$23.2M
HOMES (RETIRED, HANDICAP, REST, CONVALESCENT, NURSING) Current
RETAIL STORES
NEIGHBORHOOD: SHOPPING CENTER
MEDICAL BUILDING
OFFICE 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
Heating
NONE
Stories
2
Buildings
7
Lot
5.58 ac
Current owner
From public records · entity-resolved
941 Arizona I LLC
Entity
Mailing address
765 N LINDSAY RD #202, GILBERT, AZ 85234-4707
Mailing matches property
Yes
Owner-occupied
Yes
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
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 24, 2025
$44,500,000
941 Arizona I LLC
Groves Properties LP
Special Warranty Deed
$28,925,000 · Bmo Bank NA
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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