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Property profile & analytics
FOR LEASE
Retail space
1118 N Recker Rd Mesa, AZ 85205
Entity Owned
~
Est. High Equity
Property ID
US07-0686291
For Lease
1 / 14
$3,745,000
1118 N Recker Rd, Mesa, AZ 85205
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Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
2007
Construction
CONCRETE
Total area
12,645 SF
Lot
1.65 ac (71,823 SF)
Zoning code
LC
APN
141-78-548F
UPID
US07-0686291
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
-
Creative Fitness Solutions Gym & Fitness Center
-
Burn Boot Camp Gym & Fitness Center
-
T & Joe's Barber Shop
-
Maryam Arastoo Physician
-
Wetzel's Pretzels Bakery (Bike/Boat/Book/etc) Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$3.95M
Blend (final)
Blend
$3.75M
Owner & transaction history
Al Water 1 LLC
Al Water 1 LLC
since 2025
Last sale
$3.5M
7 recorded transactions
Zoning & alternative use
LC · Mesa, AZ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$5.6M
+68.1%
Neighborhood: shopping center
$3.9M
+18.8%
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
RETAIL STORES
$3,315,000
Current use
AUTO REPAIR, GARAGE
$5,570,000
Change: +68% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$3,940,000
Change: +19% · Conversion: Moderate
MEDICAL BUILDING
$3,310,000
Change: 0% · Conversion: Difficult
Blend value · Realmo final
$3.75M
Range $3.37M – $4.12M · ±10% · vs last sale $3.54M (May 28 2025)
Last sale anchor
$3.54M
May 28 2025
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
$296 / 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
$15,085
Tax year 2023
Assessed value
$501,349
Assessed 2024
Previous assessed
$431,545
+16.2% YoY
Effective rate
3.01%
On assessed value
Land market value
$816,600
Improvement market value
$2,221,879
Total market value
$3,038,479
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
For Lease
Year built
2007
Construction
CONCRETE
Heating
PACKAGE
Cooling
YES
Stories
1
Total area
12,645 SF
Lot
1.65 ac (71,823 SF)
Zoning code
LC
APN
141-78-548F
UPID
US07-0686291
Jurisdiction
MARICOPA
Zoning & alternative use
LC · Mesa, AZ
Zoning LC · permitted uses
LC · 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
RETAIL STORES Current
Est. value
$3.3M
AUTO REPAIR, GARAGE
Est. value
$5.6M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$3.9M
MEDICAL BUILDING
Est. value
$3.3M
RETAIL STORES Current
AUTO REPAIR, GARAGE
NEIGHBORHOOD: SHOPPING CENTER
MEDICAL 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
2007
Construction
CONCRETE
Heating
PACKAGE
Cooling
Yes
Stories
1
Lot
1.65 ac
Current owner
From public records · entity-resolved
Al Water 1 LLC
Entity
Mailing address
525 W MONROE ST FL, CHICAGO, IL 60661-3629
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
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 28, 2025
$3,540,000
Al Water 1 LLC
Luxe Recker Owner LLC
Special Warranty Deed
$2,250,000 · Goldwater Bank NA
Apr 8, 2021
$2,750,000
Luxe Recker Owner LLC
Recker Plaza Lllp
Special Warranty Deed
$1,787,500 · Republicbankaz NA
Oct 9, 2018
$1,300,000
Recker Plaza Lllp
Mbr Equity Group LLC
Grant Deed
$975,000 · Firstbank
Jul 17, 2015
$917,500
Mbr Equity Group LLC
Fpfz Properties LLC
Grant Deed
—
May 25, 2011
$700,000
Fpfz Properties LLC
Csa26-brown Recker LLC
Grant Deed
—
Feb 12, 2010
$950,000
Csa26-brown Recker LLC
Williams Craig K
Trustees Deed
—
Jun 28, 2007
$1,126,000
Brown Recker LLC
Thunderbird/ray Plaza LLC
Special Warranty Deed
$3,085,000 · Midfirst Bank
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
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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