No photos on file
For Lease
$23 SF/Yr
136 West Main St, Mesa, AZ 85201
View Listing →
Estimated value (blended)
$1.47M
Range $1.32M – $1.61M (±10%)
Property ID
US07-1219320
Property summary
AI-generated overview
This exceptional mixed-use property, The Pomeroy Building, presents a compelling value-add investment opportunity in the heart of Downtown Mesa, Arizona. Built in 1891, this historic two-story building boasts 10,600 square feet situated on a 7,187 square foot lot at 136 W Main St, Mesa, AZ 85201. Currently 56% occupied with 11 tenants, the property offers a compelling mix of retail space on the ground floor and office space on the second floor. The building's permitted zoning (DC-CE, City of Mesa) allows for a variety of uses, presenting a unique chance for creative redevelopment or retrofitting to suit diverse tenants. With a current asking price of $1,950,000 ($183.96/sq ft), a pro-forma NOI of $172,838, and a pro-forma cap rate of 8.86%, this fee-simple ownership presents significant upside potential. The property's location within a revitalized area, coupled with the presence of nine new multifamily projects within a one-mile radius, further enhances its investment appeal. This is a rare chance to acquire a piece of Mesa's history and capitalize on the area's ongoing growth. The property is a NNN lease type with fourteen units in total.
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1927
Construction
CONCRETE
Total area
10,263 SF
Lot
0.17 ac (7,202 SF)
Zoning code
C-DT
APN
138-35-023
UPID
US07-1219320
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Clothing & Fashion Store
-
Home Health Care Service
-
Wedding Service Photography Service
-
Law Firm
-
Home Health Care Service Adult Day Care Center
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.63M
Blend (final)
Blend
$1.47M
Owner & transaction history
since 2026
Last sale
$1.3M
2 recorded transactions
Zoning & alternative use
C-DT · Mesa, AZ
Top alternative use upside
Office building
$2.3M
+8.8%
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
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
17% off on annual
Unlock the complete Valuation workflow
Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
Full NOI build-up · 6 steps
All 13 comparables with addresses
3 alternative uses screened
Sensitivity value band
Source audit · 10 inputs
PDF export
Analytics Standard · 5 reports
from $99/month
from $99/month
Summary
1
Valuation conclusion
Included free
Estimated market value
$1.47M
Value range
$1.32M – $1.61M
±10% around blend
Estimated value / SF
$143 / SF
Confidence
High
13 county-verified comps
Property data
88
Market benchmarks
100
Comparable evidence
100
Income certainty
100
$1.32M
blend $1.47M
$1.61M
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
10,263 SF
Lot area
0.17 ac
Year built
1927
Stories
2
APN
138-35-023
Assessed value
$121,294
Annual tax
$7,225
3
Income approach: direct capitalization
Partial preview
Estimated Stabilized NOI, derived from market rent, vacancy and expense benchmarks. Actual property income not reported.
Estimated market rent / SF
Potential gross income
Vacancy allowance
Effective gross income
Benchmark operating expenses
Stabilized NOI
Property tax
$7,225
Selected cap rate
4
Sales comparison
Partial preview
Sales approach indication
$2.39M
Weighted, 13 comps · high confidence
Evidence
13 found · 6 selected
County-verified recorded sales
Comparable
Sale dateSale price$ / SF
5.7 mi away · 10,000 SF
6.5 mi away · 12,392 SF
7.7 mi away · 12,645 SF
9.3 mi away · 8,848 SF
14.7 mi away · 9,545 SF
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$1.47M
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
ZIP 21 sales
$204
-30%
Submarket 152 sales
$262
-46%
County 968 sales
$336
-58%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $143/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Alternative use screening
Partial preview
Top alternative use
Office Building
Gross theoretical uplift
+9%
vs current-use indication
Retail Stores · current use
Warehouse, Storage
Values shown before conversion costs, entitlement costs, capital expenditures and stabilization risk.
8
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
Not available
Operating expenses
Modeled
Market rent
Market benchmark
Actual rent roll
Not available
Tenant leases
Not available
Physical condition
Not inspected
Conversion costs
Not available
Not analyzed due to unavailable source data: tenant leases, physical condition and capital
requirements were not available for this desktop analysis. Cost Approach excluded due to
availability of income evidence.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
17% off on annual
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
Comparable evidence · 13 sales
NOI build-up · 9 steps
Market rates by use type
PDF export
Analytics Standard · 5 reports
from $99/month
from $99/month
Overview
Selected market yield
497,343.48%
Selected cap rate for this retail space
Derived from the Mesa market rent, vacancy and expense benchmarks for this use type.
NOI (est.)
$114k *
Last sale · Jan 2026
$1.30M
* derived from a real price signal at a 7% cap
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$22
Move the market yield to see immediate price impact.
Value / SF
$0
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
497,342.98%497,343.48%497,343.98%
$103k
$20
$20
$20
$114k
$23
$22
$22
$126k
$25
$25
$25
NOI sensitivity ±10% across the selected-rate band (±0.5 pp) — derivation of the NOI above.
Comparable evidence
Partial preview
Recorded sales nearby
13 found
High confidence · county-verified
Closest comparable
$2.55M
5.1 mi · Jan 2026 · $241/SF
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$7,225
Tax year 2023
Assessed value
$121,294
Assessed 2024
Previous assessed
$103,173
+17.6% YoY
Effective rate
5.96%
On assessed value
Land market value
$147,300
Improvement market value
$587,816
Total market value
$735,116
Applied tax rate
41,010.0000
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
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
1927
Construction
CONCRETE
Heating
FORCED AIR
Cooling
CENTRAL
Stories
2
Total area
10,263 SF
Lot
0.17 ac (7,202 SF)
Zoning code
C-DT
APN
138-35-023
UPID
US07-1219320
Jurisdiction
MARICOPA
Zoning & alternative use
C-DT · Mesa, AZZoning C-DT · permitted uses
C-DT · Mesa, AZ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Alternative use value scenarios
Repositioning upside vs current use
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Building & site characteristics
From public records
Year built
1927
Construction
CONCRETE
Heating
FORCED AIR
Cooling
Yes
Stories
2
Lot
0.17 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
County-recorded code
C-DT
Jurisdiction
Mesa, AZ
Recorded code
C-DT
Zoning Insight
What can be built and operated here — officially.
The district profile from the municipal source: what is on file for C-DT in Mesa, AZ.
What opens after registration
Zoning profile
3 official documentsVerified municipal sources with file download
Match provenanceAssignment basis, match tier and confidence
Private report access
See the official zoning profile for this address.
Registration is required before the official district profile is shown.
One complete report on every paid plan · 5 · 30 · 100 reports per month.
Ownership Intelligence
Find the owner behind the property.
Unlock the evidence behind ownership: portfolio, transactions, debt and signals that help you decide who to contact next.
What opens after registration
Ownership report
Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
Debt & historyRecorded loans and transaction history
Private report access
See the ownership record for this address.
Registration is required before any owner information is shown.
One complete report on every paid plan · 5 · 30 · 100 reports per month.
Owner of record and activity signals are derived from public records and modeled classifications.
They do not confirm beneficial ownership or intent to transact.
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?”
Full reports are paid
Unlock the full Property Analytics report
Pick a plan to open full owner contacts, all 4 valuations with methodology, the refine flow, comparable adjustments, the foot-traffic deep dive and PDF / CSV export. Cancel anytime.
