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    Property profile & analytics

    1232 E Southern Ave Mesa, AZ 85204

    • Retail space
    • 7,943 SF
    • 0.69 lot acres
    For Lease
    View listing
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US07-2484718
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Mesa Motor Vehicle Service / Law Firm
    • GO INSURANCE / Insurance Agency
    • Dulceria La Bonita Mesa / Big Box & Wholesale Store
    • Copper Bell Plaza / Shopping Center & Mall
    • Underdark Ink / Tattoo & Piercing Shop

    Property Details for 1232 E Southern Ave

    Year built
    1986
    Construction
    CONCRETE
    Lot size
    0.69 lot acres
    Property size
    7,943 SF
    Zone code
    LC
    Property type
    Retail space
    APN
    139-05-559
    APU
    13905559

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,274,000
      Market price range: $963k - $3.67M
      AI Estimate
      $1,272,000
      Market price range: $963k - $3.67M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $2,080,000
      Current use
      MEDICAL BUILDING
      $2,080,000
      Change: -0% Conversion: Difficult
      OFFICE BUILDING
      $1,730,000
      Change: -17% Conversion: Easy

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Mesa
    County
    Maricopa
    State
    Arizona
    Longitude
    -111.804
    Latitude
    33.3939
    CBSA code
    38060
    CBSA name
    PHOENIX-MESA-SCOTTSDALE, AZ METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $12,523
    $0.00
    $0.00
    $161,707
    -
    $247,300
    $732,744
    $980,044

    Comparable in this City

    • Value Estimation by Request
      896 SF

      431 Broadway Rd

      RETAIL STORES (PERSONAL SERVICES) • 896 SF
      431 Broadway Rd, Mesa, AZ 85204-2019
      View Details
    • Value Estimation
      $1,265,000
      7,943 SF

      1232 Southern Ave

      RETAIL STORES (PERSONAL SERVICES) • 7,943 SF
      1232 Southern Ave, Mesa, AZ 85204-5152
      View Details
    • Value Estimation
      $870,000
      2,818 SF

      Mesa, AZ 85204

      RETAIL STORES (PERSONAL SERVICES) • 2,818 SF
      Mesa, AZ 85204
      View Details
    • Value Estimation
      $845,000
      1,884 SF

      1152 Broadway Rd

      RETAIL STORES (PERSONAL SERVICES) • 1,884 SF
      1152 Broadway Rd, Mesa, AZ 85204-2111
      View Details
    • Value Estimation by Request
      2,472 SF

      61 Stapley Dr

      RETAIL STORES (PERSONAL SERVICES) • 2,472 SF
      61 Stapley Dr, Mesa, AZ 85204-1101
      View Details
    • Value Estimation by Request
      1,757 SF

      755 Broadway Rd

      RETAIL STORES (PERSONAL SERVICES) • 1,757 SF
      755 Broadway Rd, Mesa, AZ 85204-2066
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      11,000 SF

      Restaurant and Retail Space Available

      Restaurant and retail property for sale in Mesa, Arizona.
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      Freestanding Retail/Medical Building Available

      Freestanding 3,600 SF retail/medical building with high visibility.
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      Mesa Retail Space For Sale

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      Mesa Retail Space Available

      Highly visible retail space in Mesa, Arizona, for sale.
      1245 East Southern Ave, Mesa, AZ 85204
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      Prime Retail Location on Stapley

      Excellent street visibility and daily traffic in a dynamic location.
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      Retail Space in Dense Corridor

      Retail space with a new 10-year lease and guarantees.
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    Similar Nearby for Lease

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      1,598 SF

      Mesa Retail Space Available

      Retail space available near US 60 FWY in Mesa, AZ.
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      10,301 SF

      High-Traffic Retail Center Space

      Retail space in high-visibility center with diverse tenant mix.
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      Retail Space in Mesa, Arizona

      Retail space available in a strip center near US-60.
      1830 E Baseline Rd, Mesa, AZ 85204
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      2,739 SF

      Retail Space in Mesa, Arizona

      Retail space available in high-traffic, open-air lifestyle center.
      1822-3426 S Val Vista Dr, Mesa, AZ 85204
      View Details
    • Contact for pricing
      1,240 SF

      Freestanding Retail Building with Parking

      Freestanding retail building with ample parking and monument signage.
      1232 E Southern Ave, Mesa, AZ 85204
      View Details
    • Contact for pricing
      911 SF

      Retail Space Available for Rent

      911 SF retail space, can be combined for 1,849 SF.
      1616 S Stapley Dr, Mesa, AZ 85204
      View Details

    Property Visit Statistics

    • Visits by month
      24.6k
    • Visitors by month
      21.2k
    • Avg Time on site
      14 min
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    Mesa, AZ 85204
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    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.

    More about this property
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