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Property profile & analytics
OFF-MARKET
Estimated value
$27,685,000
Office buildings
1138 Alma School Rd, Mesa, AZ 85201-3002
Entity Owned
6-yr Hold
Free & Clear
Property ID
US07-2468012
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
2008
Construction
STEEL FRAME
Total area
83,150 SF
Lot
5.2 ac (226,584 SF)
Zoning code
PEP
APN
135-33-586
UPID
US07-2468012
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
-
T&D Power Inc Electrical Service General Contractor
-
Udall Shumway PLC Mesa: Attorney Bradley D. Gardner Law Firm
-
Udall Shumway PLC: Attorney Heather R. Pierson Law Firm
-
Udall Shumway PLC: Gulinson Chris Law Firm
-
Udall Shumway PLC Law Firm
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$27.68M
Blend (final)
Blend
$27.69M
Owner & transaction history
Salt River Point Ll LLC · 6 yrs held
Salt River Point Ll LLC
since 2019
3 recorded transactions
Zoning & alternative use
PEP · Mesa, AZ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$36.6M
+98.7%
Neighborhood: shopping center
$25.9M
+40.5%
Medical building
$21.8M
+18.1%
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 Mesa submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Mesa 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
$18,440,000
Current use
AUTO REPAIR, GARAGE
$36,640,000
Change: +99% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$25,895,000
Change: +40% · Conversion: Difficult
MEDICAL BUILDING
$21,780,000
Change: +18% · Conversion: Easy
RETAIL STORES
$16,950,000
Change: -8% · Conversion: Moderate
Blend value · Realmo final
$27.69M
Range $24.92M – $30.45M · ±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
$333 / 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
$159,059
Tax year 2023
Assessed value
$3,405,728
Assessed 2024
Previous assessed
$3,405,728
+0.0% YoY
Effective rate
4.67%
On assessed value
Land market value
$3,868,700
Improvement market value
$16,772,075
Total market value
$20,640,775
Applied tax rate
41,000.0000
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
Off-Market
Year built
2008
Construction
STEEL FRAME
Heating
NONE
Stories
2
Total area
83,150 SF
Lot
5.2 ac (226,584 SF)
Zoning code
PEP
APN
135-33-586
UPID
US07-2468012
Jurisdiction
MARICOPA
Zoning & alternative use
PEP · Mesa, AZ
Zoning PEP · permitted uses
PEP · Mesa, AZ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Mesa. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$18.4M
AUTO REPAIR, GARAGE
Est. value
$36.6M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$25.9M
MEDICAL BUILDING
Est. value
$21.8M
RETAIL STORES
Est. value
$17.0M
OFFICE BUILDING Current
AUTO REPAIR, GARAGE
NEIGHBORHOOD: SHOPPING CENTER
MEDICAL BUILDING
RETAIL STORES
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
2008
Construction
STEEL FRAME
Heating
NONE
Stories
2
Lot
5.2 ac
Current owner
From public records · entity-resolved
Salt River Point Ll LLC
Entity
Free & Clear · 6 yrs held
Mailing address
777 3RD AVE RM #25, NEW YORK, NY 10017-1401
Ownership since
2019
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 14, 2019
$107,650,000
Salt River Point Ll LLC
Riverview Point LP
Special Warranty Deed
—
Feb 16, 2016
$34,337,000
Riverview Point LP
R & R Riverview LLC
Grant Deed
related
$37,597,105 · Bmo Harris Bk NA
Apr 29, 2011
$9,050,000
R & R Riverview LLC
Riverview Partners One LLC
Grant Deed
related
$18,000,000 · Donald R & Martha E Horton
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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