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Property profile & analytics
OFF-MARKET
Estimated value
$1,115,000
Warehouses
1445 University Dr Mesa, AZ 85203-8130
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US07-0280640
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1984
Construction
CONCRETE
Total area
4,518 SF
Lot
0.34 ac (14,838 SF)
Zoning code
LC
APN
138-06-140P
UPID
US07-0280640
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
-
GateView Ministries Church Mosque
-
Allegiant Arms Gun Shop
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$840k
Comparable Approach
Comparable
$1.38M
Blend (final)
Blend
$1.12M
Owner & transaction history
Center Street Property LLC · 4 yrs held
Center Street Property LLC
since 2022
Last sale
$1.0M
3 recorded transactions
Zoning & alternative use
LC · Mesa, AZ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
Limited Commercial (LC). To provide areas for indoor retail, entertainment, and service-oriented businesses that serve the surrounding residential trade area within a one (1) to 10-mile radius. Typical uses include, but are not limited to, grocery stores and additional large commercial developments, anchored tenant shopping centers with additional drug store…
Zone name
Limited Commercial
General category
COMMERCIAL
Zone area
4,253.61 ac
Source
code of ordinances
Top alternative use upside
Neighborhood: shopping center
$1.4M
+84.2%
Retail stores
$1.2M
+55.1%
Medical building
$1.2M
+54.9%
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
$1,025,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$910,000
6.5%
$840,000
7%
$780,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$765,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$1,405,000
Change: +84% · Conversion: Moderate
RETAIL STORES
$1,185,000
Change: +55% · Conversion: Moderate
MEDICAL BUILDING
$1,185,000
Change: +55% · Conversion: Difficult
OFFICE BUILDING
$835,000
Change: +9% · Conversion: Difficult
Blend value · Realmo final
$1.12M
Range $1.00M – $1.23M · ±10% · vs last sale $1.04M (Apr 1 2022)
Last sale anchor
$1.04M
Apr 1 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
$247 / 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 2022Property tax & assessments
Tax year 2022
Tax billed
$7,205
Tax year 2022
Assessed value
$136,257
Assessed 2024
Previous assessed
$104,040
+31.0% YoY
Effective rate
5.29%
On assessed value
Land market value
$209,100
Improvement market value
$616,700
Total market value
$825,800
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
1984
Construction
CONCRETE
Heating
NONE
Cooling
EVAPORATIVE
Buildings
2
Stories
1
Units
2
Total area
4,518 SF
Lot
0.34 ac (14,838 SF)
Zoning code
LC
APN
138-06-140P
UPID
US07-0280640
Jurisdiction
MARICOPA
Zoning & alternative use
LC · Mesa, AZZoning LC · permitted uses
LC · Mesa, AZ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
Limited Commercial (LC). To provide areas for indoor retail, entertainment, and service-oriented businesses that serve the surrounding residential trade area within a one (1) to 10-mile radius. Typical uses include, but are not limited to, grocery stores and additional large commercial developments, anchored tenant shopping centers with additional drug stores, fast-food restaurants, hardware and building supply stores, gas stations with convenience stores, and restaurants and cafes. Other typical uses include, but are not limited to, those anchors and large commercial developments that are typically located within a regional mall, retail outlet, or power center. Other compatible uses include medical and professional offices, as well as public and semi-public uses. 3.
Zone name
Limited Commercial
General category
COMMERCIAL
Zone area
4,253.61 ac
Source
code of ordinances
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$765,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.4M
RETAIL STORES
Est. value
$1.2M
MEDICAL BUILDING
Est. value
$1.2M
OFFICE BUILDING
Est. value
$835,000
WAREHOUSE, STORAGE Current
NEIGHBORHOOD: SHOPPING CENTER
RETAIL STORES
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
1984
Construction
CONCRETE
Heating
NONE
Cooling
Yes
Stories
1
Buildings
2
Units
2
Lot
0.34 ac
Current owner
From public records · entity-resolved
Center Street Property LLC
Entity
Mailing address
2550 N PIONEER, MESA, AZ 85203-1037
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
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 1, 2022
$1,035,000
Center Street Property LLC
Chad G Carling
Special Warranty Deed
—
Mar 26, 2020
—
Carling Family Trust
Chad G Carling
Quit Claim Deed
related
—
Feb 23, 2000
$375,000
Chad G Carling
Barney,t D & Ann P
Grant Deed
—
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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