Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
    Brokers
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers

    Don Mortensen, Mesa, AZ

    License ID: BR529840000
    LRA Real Estate Group, LLC
    Years of Experience
    21
    Association
    Southeast Valley Regional Association Of Realtors Inc

    Contact details

    Phone:
    (602) 451-3684
    Office Address:
    165 E Southern Ave Ste 201, Tempe, AZ, 85281

    Performance

    Listings
    28
    Total transactions
    134
    Total transactions amount
    $36M
    Price range
    $179k - 404k
    Average price
    $269k

    Listings

    For Sale (14)

    View map
    • $1,749,900
      18,206 SF

      Mesa Office Building For Sale

      18,206 SF office building with 11 units in Mesa.
      455 W 5Th Pl, Mesa, AZ 85201
      View Details
    • $1,475,000
      3,230 SF

      Tempe Hard Corner Building

      Hard corner building in Tempe with drive-through and large parking.
      833 W Broadway Rd, Tempe, AZ 85282
      View Details
    • $899,000
      4,022 SF

      Mesa Office Building For Sale

      4,022 SF office building in a strategic Mesa location.
      61 N Hibbert, Mesa, AZ 85210
      View Details
    • $1,575,824

      Phoenix Commercial Land Opportunity

      Prime commercial land for development in Phoenix, Arizona.
      6866 W Indian School Rd, Phoenix, AZ 85033
      View Details
    • $495,000
      2,040 SF

      Mesa Office Building For Sale

      2,040 SF office building in strategic Mesa location.
      205 S Mesa Dr, Mesa, AZ 85210
      View Details
    • $595,000

      Tempe Land Investment Opportunity

      Land in Tempe with multifamily development potential.
      1201 S Farmer Ave, Tempe, AZ 85281
      View Details
    • $230,000

      Commercial Land in Growing District

      Spacious lot in Willcox's growing commercial district with development potential.
      S Haskell Ave, Willcox, AZ 85643
      View Details
    • $3,369,000

      Commercial Land on Central Avenue

      Commercial land with C-3 zoning and high visibility.
      1755 S Central Ave, Phoenix, AZ 85004
      View Details
    • $595,000
      2,400 SF

      Free-Standing Retail Building For Sale

      2,400 SF retail building in high-traffic area.
      15046 N Cave Creek Rd, Phoenix, AZ 85032
      View Details
    • $179,000

      Commercial Land Near New Development

      Commercial land available near new development in a neighborhood setting.
      4719 W Thomas Rd, Phoenix, AZ 85031
      View Details
    • $200,000

      Pristine Desert Land with Views

      40 acres with mineral rights, panoramic views, and utilities.
      46626 W Salome Hwy, Tonopah, AZ 85354
      View Details
    • Contact for pricing

      Prime Land Near Amenities

      Land with high traffic count near restaurants, parks, and schools.
      702-718 N 7Th Ave, Phoenix, AZ 85007
      View Details
    • $1,095,000
      3,883 SF

      2.37 Acre C-3 Property

      2.37 acre C-3 property with three buildings totaling 3,883 SF.
      918 E Broadway Rd, Phoenix, AZ 85040
      View Details
    • $2,044,020

      Prime Land Near Light Rail

      1.23 acres near light rail, close to ASU.
      1854-1874 E Apache Blvd, Tempe, AZ 85281
      View Details

    For Lease (14)

    View map
    • $24 SF/Yr
      2,200 SF

      Retail Space at Light Rail

      Retail space with high visibility near the light rail.
      1811 E Apache Blvd, Tempe, AZ 85281
      View Details
    • $23 SF/Yr
      1,290 SF

      Retail Space in Downtown Mesa

      Retail space available in a sustainable, urban community.
      127 W Pepper Pl, Mesa, AZ 85201
      View Details
    • $20 SF/Yr
      5,973 SF

      Modern Scottsdale Office Space

      Flexible office space with high ceilings and natural light.
      7580 E Gray Rd, Scottsdale, AZ 85260
      View Details
    • $18 SF/Yr
      1,250 SF

      Mesa Office Space For Rent

      Office space for rent with high visibility and ample parking.
      6740 E University Dr, Mesa, AZ 85205
      View Details
    • $28 SF/Yr
      1,500 SF

      Retail Space Near Mesa Temple

      Retail space with patio and light rail access available forlease.
      144 S Mesa Dr, Mesa, AZ 85210
      View Details
    • $20 SF/Yr
      1,500 SF

      Retail Space Near Arizona State

      Retail space for rent near Arizona State University.
      1831 E Apache Blvd, Tempe, AZ 85281
      View Details
    • Contact for pricing
      3,000 SF

      Retail Space Near ASU

      Retail space in luxury development near Arizona State University.
      1221 E Apache Blvd, Tempe, AZ 85281
      View Details
    • $859 /Mo
      546 SF

      Professional Office Space For Rent

      Office space in high-visibility area, close to freeways.
      925 N Stapley Dr, Mesa, AZ 85203
      View Details
    • $26 SF/Yr
      900 SF

      Retail Space Near Light Rail

      Retail space for lease, high traffic, close to light rail.
      1860-1880 E Apache Blvd, Tempe, AZ 85281
      View Details
    • $340,000

      Raw Land I-10 Access

      Raw land with I-10 access, ideal for farming.
      Holley Ln, Willcox, AZ
      View Details
    • $29 SF/Yr
      1,600 SF

      Downtown Mesa Retail/Office Opportunity

      Retail, restaurant, or office space in Downtown Mesa.
      65 E 1St Ave, Mesa, AZ 85210
      View Details
    • $7,500 /Mo
      2,432 SF

      Tempe Warehouse with Gated Yard

      2,432 SF Tempe warehouse featuring gated yard and bay doors.
      1020 E Gilbert Dr, Tempe, AZ 85281
      View Details
    • $12 SF/Yr
      1,400 SF

      Roosevelt District Office Space

      Office space in the heart of the Roosevelt District.
      645 N 4Th Ave, Phoenix, AZ 85003
      View Details
    • $1,300 /Mo
      1,701 SF

      Downtown Mesa Retail Space Available

      Retail space in downtown Mesa, near light rail station.
      439 W Main St, Mesa, AZ 85203
      View Details

    Leases and Sales on Map

    • For Sale
    • For Lease

    Properties for sale

    View other agents
    in the same area
    Request Owner's contact information
    Don Mortensen, Mesa, AZ
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    Send Message to
    Don Mortensen, Mesa, AZ
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    (602) 451-3684
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.