Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    Property profile & analytics

    1240 Ellsworth Rd Mesa, AZ 85207-5100

    • Parking lots & garages
    • 7,214 SF
    • 1.48 lot acres
    OFF-MARKET
    Last Sale
    Mar 02, 2021
    $1,459,570
    Value Estimations
    $1,445,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US07-2853906
    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

    • The Garages / Rv Storage Facility

    Property Details for 1240 Ellsworth Rd

    Year built
    2020
    Lot size
    1.48 lot acres
    Property size
    7,214 SF
    Zone code
    LC
    Property type
    Parking lots & garages
    APN
    218-06-140H
    APU
    21806140H

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,445,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Mesa
    County
    Maricopa
    State
    Arizona
    Longitude
    -111.633
    Latitude
    33.4379
    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
    $21,655
    $0.00
    $0.00
    $371,448
    -
    $674,200
    $1,577,000
    $2,251,200

    Comparable in this City

    • Value Estimation by Request
      374 SF

      221 88th Way

      RESIDENTIAL PARKING GARAGE • 374 SF
      221 88th Way, Mesa, AZ 85207-7805
      View Details
    • Value Estimation by Request
      624 SF

      9939 Elmwood St

      RESIDENTIAL PARKING GARAGE • 624 SF
      9939 Elmwood St, Mesa, AZ 85207-5312
      View Details
    • Value Estimation by Request
      560 SF

      9835 Billings Ct

      RESIDENTIAL PARKING GARAGE • 560 SF
      9835 Billings Ct, Mesa, AZ 85207-8001
      View Details
    • Value Estimation
      $120,000
      240 SF

      116 90th St

      RESIDENTIAL PARKING GARAGE • 240 SF
      116 90th St, Mesa, AZ 85207-8724
      View Details
    • Value Estimation by Request
      300 SF

      333 82nd Way

      RESIDENTIAL PARKING GARAGE • 300 SF
      333 82nd Way, Mesa, AZ 85207-7604
      View Details
    • Value Estimation by Request
      280 SF

      318 81st St

      RESIDENTIAL PARKING GARAGE • 280 SF
      318 81st St, Mesa, AZ 85207-7625
      View Details

    Similar Nearby for Sale

    • $1,200,000
      4,288 SF

      Auto Repair and Storage Yard

      2.07 acre lot with 2,144 SF building and canopy.
      7045 E Main St, Mesa, AZ 85207
      View Details
    • $1,500,000
      17,197 SF

      Mesa Retail Property on Main

      Retail property in Mesa with small, affordable suites available.
      7119-7125 E Main St, Mesa, AZ 85207
      View Details
    • Contact for pricing
      88,608 SF

      Retail Shop Space Available

      Retail space for lease in Mesa, Arizona.
      1133 North Ellsworth Rd, Mesa, AZ 85207
      View Details
    • $749,000
      3,000 SF

      High-Visibility Retail Space Available

      Retail space with frontage on Apache Trail/SR-88 in Mesa.
      8111 E Main St, Mesa, AZ 85207
      View Details
    • $3,088,888
      2,363 SF

      Mesa Restaurant with Drive-Thru

      Operating restaurant with drive-thru, corporate guaranty, Mesa, Arizona.
      1460 S Crismon Rd, Mesa, AZ 85207
      View Details
    • Contact for pricing
      1 SF

      1.34 Acre Freeway Frontage Pad

      1.34 acre commercial land with freeway frontage.
      Swc Loop 202 & University Dr, Mesa, AZ 85207
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      2,300 SF

      Retail Space at Signal Butte

      Retail space in high-growth Mesa corridor near US 60.
      1534 S Signal Butte Rd, Mesa, AZ 85207
      View Details
    • Contact for pricing
      1,178 SF

      Retail Space in Mesa, Arizona

      Retail space available in growing Mesa, Arizona neighborhood.
      1226-1252 S Signal Butte Rd, Mesa, AZ 85207
      View Details
    • Contact for pricing
      1,140 SF

      Mesa Retail Space for Lease

      Prime Mesa location, 1,140 sq ft available.
      0 Cor Mckellips Rd & Power Rd, Mesa, AZ 85207
      View Details
    • Contact for pricing
      3,000 SF

      Retail Space Near 202 Loop

      Retail space with freeway visibility and monument signage available for rent.
      9124 E Main St, Mesa, AZ 85207
      View Details
    • Contact for pricing
      55,247 SF

      Red Mountain Plaza Retail Space

      Mesa, AZ Retail Center: High-traffic location, multiple spaces available.
      9124 Apache Trl, Mesa, AZ 85207
      View Details
    • Contact for pricing
      29,500 SF

      Mesa Retail Space: Apache Plaza

      Prime Mesa retail space, 29,500 sq ft available.
      6839 Main St, Mesa, AZ 85207
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1240 Ellsworth Rd
    Mesa, AZ 85207-5100
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.