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Property profile & analytics
OFF-MARKET
Estimated value
$22,100,000
Schools
1520 Longmore Mesa, AZ 85202
Individually Owned
18-yr Hold
~
Est. High Equity
Property ID
US07-1193215
Property profile
Verified
Property type
Schools
Use group
COLLEGE, UNIVERSITY, VOC SCHOOL
Year built
2014
Construction
CONCRETE
Total area
56,840 SF
Lot
5.29 ac (230,507 SF)
Zoning code
LC
APN
134-26-323H
UPID
US07-1193215
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
-
MCC Performing Arts Center Theater & Performing Art Venue
-
Mesa Community College - PAC University
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$22.36M
Blend (final)
Blend
$22.10M
Owner & transaction history
Maricopa Cnty Cmnty Clg Distri · 18 yrs held
Maricopa Cnty Cmnty Clg Distri
since 2008
3 recorded transactions
Zoning & alternative use
LC · Mesa, AZ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$36.5M
+128.9%
Restaurant
$36.4M
+128.3%
Auto repair, garage
$25.0M
+57.2%
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
Alternative Use
Use
Estimation
COLLEGE, UNIVERSITY, VOCATIONAL SCHOOL - PRIVATE
$15,935,000
Current use
COMMERCIAL (GENERAL)
$36,475,000
Change: +129% · Conversion: Difficult
RESTAURANT
$36,380,000
Change: +128% · Conversion: Difficult
AUTO REPAIR, GARAGE
$25,045,000
Change: +57% · Conversion: Difficult
RETAIL STORES
$14,900,000
Change: -7% · Conversion: Difficult
MEDICAL BUILDING
$14,885,000
Change: -7% · Conversion: Difficult
Blend value · Realmo final
$22.10M
Range $19.89M – $24.31M · ±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
$389 / 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
Assessed value
$2,077,749
Assessed 2024
Previous assessed
$1,783,920
+16.5% YoY
Land market value
$2,290,300
Improvement market value
$11,561,361
Total market value
$13,851,661
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
Schools
Use group
COLLEGE, UNIVERSITY, VOC SCHOOL
Status
Off-Market
Year built
2014
Construction
CONCRETE
Heating
PACKAGE
Cooling
YES
Buildings
2
Stories
2
Units
2
Total area
56,840 SF
Lot
5.29 ac (230,507 SF)
Zoning code
LC
APN
134-26-323H
UPID
US07-1193215
Jurisdiction
MARICOPA
Zoning & alternative use
LC · Mesa, AZ
Zoning LC · permitted uses
LC · 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.
Alternative use value scenarios
Repositioning upside vs current use
COLLEGE, UNIVERSITY, VOCATIONAL SCHOOL - PRIVATE Current
Est. value
$15.9M
COMMERCIAL (GENERAL)
Est. value
$36.5M
RESTAURANT
Est. value
$36.4M
AUTO REPAIR, GARAGE
Est. value
$25.0M
RETAIL STORES
Est. value
$14.9M
MEDICAL BUILDING
Est. value
$14.9M
COLLEGE, UNIVERSITY, VOCATIONAL SCHOOL - PRIVATE Current
COMMERCIAL (GENERAL)
RESTAURANT
AUTO REPAIR, GARAGE
RETAIL STORES
MEDICAL 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
2014
Construction
CONCRETE
Heating
PACKAGE
Cooling
Yes
Stories
2
Buildings
2
Units
2
Lot
5.29 ac
Current owner
From public records · entity-resolved
Maricopa Cnty Cmnty Clg Distri
Individual
Mailing address
2411 W 14TH ST, TEMPE, AZ 85281-6941
Ownership since
2008
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 2, 2008
$3,901,328
Maricopa Cnty Cmnty Clg Distri
Dd Dunlap Companies INC
Grant Deed
—
May 27, 2005
$3,030,533
Dd Dunlap Co INC
Fiesta Dev
Grant Deed
—
—
—
Dd Dunlap Companies INC
—
Deed Of Trust
related
$1,500,000 · Washington Mutual Fsb
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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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