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Property profile & analytics
OFF-MARKET
Estimated value
$4,730,000
Outlet malls
119 1st Ave Mesa, AZ 85210-1311
Entity Owned
42-yr Hold
Free & Clear
Property ID
US07-1080054
Property profile
Verified
Property type
Outlet malls
Use group
WHOLESALE OUTLET, DISCOUNT STORE
Year built
1985
Construction
CONCRETE
Total area
38,997 SF
Lot
1.1 ac (48,000 SF)
Zoning code
DB-1
APN
138-43-028B
UPID
US07-1080054
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
-
Mesa Blueprint (Bike/Boat/Book/etc) Store Printing Service
-
KeyExpress Locksmiths Locksmith (Bike/Boat/Book/etc) Store
-
Lenhart's Ace Hardware Building Supply Hardware & Home Improvement
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$4.73M
Blend (final)
Blend
$4.73M
Owner & transaction history
R Development · 42 yrs held
R Development
since 1984
1 recorded transaction
Zoning & alternative use
DB-1 · Mesa, AZ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
Blend value · Realmo final
$4.73M
Range $4.26M – $5.20M · ±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
$121 / 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
$32,827
Tax year 2023
Assessed value
$355,792
Assessed 2024
Previous assessed
$309,587
+14.9% YoY
Effective rate
9.23%
On assessed value
Land market value
$610,800
Improvement market value
$1,545,514
Total market value
$2,156,314
Applied tax rate
41,010.0000
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
Outlet malls
Use group
WHOLESALE OUTLET, DISCOUNT STORE
Status
Off-Market
Year built
1985
Construction
CONCRETE
Heating
PACKAGE
Cooling
YES
Stories
1
Total area
38,997 SF
Lot
1.1 ac (48,000 SF)
Zoning code
DB-1
APN
138-43-028B
UPID
US07-1080054
Jurisdiction
MARICOPA
Zoning & alternative use
DB-1 · Mesa, AZ
Zoning DB-1 · permitted uses
DB-1 · 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.
Building & site characteristics
From public records
Year built
1985
Construction
CONCRETE
Heating
PACKAGE
Cooling
Yes
Stories
1
Lot
1.1 ac
Current owner
From public records · entity-resolved
R Development
Entity
Free & Clear · 42 yrs held
Mailing address
119 W 1ST AVE, MESA, AZ 85210-1311
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
1984
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 1, 1984
$216,000
R Development
Nace,harry L Theatres INC
Grant 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.
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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