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Property profile & analytics
OFF-MARKET
Estimated value
$11,575,000
Grocery and convenience stores
1118 Southern Ave Mesa, AZ 85204-5012
Individually Owned
4-yr Hold
Free & Clear
Property ID
US07-1567597
Property profile
Verified
Property type
Grocery and convenience stores
Use group
GROCERY, SUPERMARKET
Year built
2008
Construction
CONCRETE
Total area
58,536 SF
Lot
4.08 ac (177,850 SF)
Zoning code
LC
APN
139-15-136
UPID
US07-1567597
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
-
Phoenix Jewelry ( Inside RanchMarket ) (Bike/Boat/Book/etc) Store
-
Preety Threading Salon Hair Salon Nail Salon
-
Cardenas Market Grocery & Convenience Store Specialty Food Shop
-
Primo Water Refill Big Box & Wholesale Store
-
Elsa Ceynar - Associate Broker Real Estate Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$10.56M
Comparable Approach
Comparable
$10.33M
Blend (final)
Blend
$11.58M
Owner & transaction history
Mike Yun Qi · 4 yrs held
Mike Yun Qi
since 2022
Last sale
$12.7M
2 recorded transactions
Zoning & alternative use
LC · Mesa, AZ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center
$18.2M
+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
$12,935,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$11,430,000
6.5%
$10,555,000
7%
$9,800,000
Alternative Use
Use
Estimation
RETAIL STORES
$15,345,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$18,230,000
Change: +19% · Conversion: Moderate
MEDICAL BUILDING
$15,330,000
Change: 0% · Conversion: Difficult
OFFICE BUILDING
$12,740,000
Change: -17% · Conversion: Easy
Blend value · Realmo final
$11.58M
Range $10.42M – $12.73M · ±10% · vs last sale $12.67M (Feb 16 2022)
Last sale anchor
$12.67M
Feb 16 2022
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
$198 / 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
$112,211
Tax year 2023
Assessed value
$1,310,414
Assessed 2024
Previous assessed
$1,136,042
+15.3% YoY
Effective rate
8.56%
On assessed value
Land market value
$1,232,400
Improvement market value
$6,709,500
Total market value
$7,941,900
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
Grocery and convenience stores
Use group
GROCERY, SUPERMARKET
Status
Off-Market
Year built
2008
Construction
CONCRETE
Heating
PACKAGE
Cooling
YES
Stories
1
Total area
58,536 SF
Lot
4.08 ac (177,850 SF)
Zoning code
LC
APN
139-15-136
UPID
US07-1567597
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
$15.3M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$18.2M
MEDICAL BUILDING
Est. value
$15.3M
OFFICE BUILDING
Est. value
$12.7M
RETAIL STORES Current
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
2008
Construction
CONCRETE
Heating
PACKAGE
Cooling
Yes
Stories
1
Lot
4.08 ac
Current owner
From public records · entity-resolved
Mike Yun Qi
Individual
Free & Clear · 4 yrs held
Mailing address
14107 TAOS DR, SARATOGA, CA 95070-5534
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 16, 2022
$12,665,000
Mike Yun Qi
Simoncre Csh II LLC
Special Warranty Deed
—
Sep 29, 2021
$17,600,000
Simoncre Csh II LLC
Rdev Mesa Ranch LLC
Special Warranty Deed
$15,250,000 · Academy 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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