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Property profile & analytics
OFF-MARKET
Estimated value
$4,030,000
Industrial properties
992 Melody Ave, Gilbert, AZ 85233-2149
Entity Owned
9-yr Hold
Absentee Owner
Free & Clear
Property ID
US07-2660140
Property profile
Verified
Property type
Industrial properties
Use group
INDUSTRIAL LOFT BUILDING
Year built
2020
Total area
20,849 SF
Lot
2.08 ac (90,615 SF)
Zoning code
LI
APN
302-12-614B
UPID
US07-2660140
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
-
Stratton Restoration General Contractor
-
BMS CAT Hardware & Home Improvement Construction Company
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$4.10M
Blend (final)
Blend
$4.03M
Owner & transaction history
Tmk Properties LLC · 9 yrs held
Tmk Properties LLC
since 2017
7 recorded transactions
Zoning & alternative use
LI · Gilbert, AZ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$5.3M
+66.5%
Office building
$4.6M
+44.9%
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)
$3,200,000
Current use
MEDICAL BUILDING
$5,330,000
Change: +66% · Conversion: Difficult
OFFICE BUILDING
$4,640,000
Change: +45% · Conversion: Difficult
Blend value · Realmo final
$4.03M
Range $3.63M – $4.43M · ±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
$193 / 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
$27,954
Tax year 2023
Assessed value
$573,986
Assessed 2024
Previous assessed
$573,986
+0.0% YoY
Effective rate
4.87%
On assessed value
Land market value
$592,500
Improvement market value
$2,886,200
Total market value
$3,478,700
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
Industrial properties
Use group
INDUSTRIAL LOFT BUILDING
Status
Off-Market
Year built
2020
Heating
NONE
Stories
1
Total area
20,849 SF
Lot
2.08 ac (90,615 SF)
Zoning code
LI
APN
302-12-614B
UPID
US07-2660140
Jurisdiction
MARICOPA
Zoning & alternative use
LI · Gilbert, AZ
Zoning LI · permitted uses
LI · Gilbert, AZ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Gilbert. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
INDUSTRIAL (GENERAL) Current
Est. value
$3.2M
MEDICAL BUILDING
Est. value
$5.3M
OFFICE BUILDING
Est. value
$4.6M
INDUSTRIAL (GENERAL) Current
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
2020
Heating
NONE
Stories
1
Lot
2.08 ac
Current owner
From public records · entity-resolved
Tmk Properties LLC
Entity
Free & Clear · 9 yrs held
Mailing address
2600 N PLEASANT DR, CHANDLER, AZ 85225-2150
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2017
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 31, 2021
—
Tmk Properties LLC
—
Deed
related
$2,700,000 · Zb NA
Apr 28, 2017
$367,632
Tmk Properties LLC
Eastern Central II LLC
Grant Deed
—
Feb 26, 2016
$275,000
Tmk Properties LLC
Gilbert Properties LLC
Warranty Deed
—
Aug 31, 2011
—
Eastern Central II LLC
Jeffrey Johnson
Grant Deed
related
—
Jan 26, 2011
$142,000
Gilbert Properties LLC
Patrick A Lesage
Grant Deed
—
Jan 26, 2011
$53,250
Gilbert Properties LLC
James P Injeski
Grant Deed
—
Jan 26, 2011
$102,500
Gilbert Properties LLC
James A Kluge
Grant Deed
—
Aug 24, 2009
—
Lesage,patrick A & Patrick
Joseph S Lesage
Quit Claim Deed
related
—
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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