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Property profile & analytics
OFF-MARKET
Estimated value
$540,000
Drive through restaurants
1524 University Dr, Mesa, AZ 85203-8133
Entity Owned
2-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US07-0295016
Property profile
Verified
Property type
Drive through restaurants
Use group
DRIVE-THRU RESTAURANT, FAST FOOD
Year built
1970
Construction
STEEL FRAME
Total area
1,349 SF
Lot
0.28 ac (12,000 SF)
Zoning code
LC
APN
137-39-058B
UPID
US07-0295016
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
-
Backyard Taco - Mesa North Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$554k
Blend (final)
Blend
$540k
Owner & transaction history
Papa Loca Properties LLC · 2 yrs held
Papa Loca Properties LLC
since 2024
7 recorded transactions
Zoning & alternative use
LC · Mesa, AZ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$865,000
+0.3%
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
RESTAURANT
$865,000
Current use
COMMERCIAL (GENERAL)
$865,000
Change: +0% · Conversion: Easy
Blend value · Realmo final
$540k
Range $486k – $594k · ±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
$400 / 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
Tax billed
$3,206
Tax year 2023
Assessed value
$59,680
Assessed 2024
Previous assessed
$48,365
+23.4% YoY
Effective rate
5.37%
On assessed value
Land market value
$175,100
Improvement market value
$186,595
Total market value
$361,695
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
Drive through restaurants
Use group
DRIVE-THRU RESTAURANT, FAST FOOD
Status
Off-Market
Year built
1970
Construction
STEEL FRAME
Heating
NONE
Stories
1
Total area
1,349 SF
Lot
0.28 ac (12,000 SF)
Zoning code
LC
APN
137-39-058B
UPID
US07-0295016
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
RESTAURANT Current
Est. value
$865,000
COMMERCIAL (GENERAL)
Est. value
$865,000
RESTAURANT Current
COMMERCIAL (GENERAL)
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
1970
Construction
STEEL FRAME
Heating
NONE
Stories
1
Lot
0.28 ac
Current owner
From public records · entity-resolved
Papa Loca Properties LLC
Entity
Mailing address
1835 E LOCKWOOD ST, MESA, AZ 85203-2105
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 7, 2024
—
Papa Loca Properties LLC
Byt Investments LLC
Warranty Deed
—
Jun 11, 2013
—
Byt Investments LLC
Steven Beck
Correction Deed
related
$293,000 · First Citizens Bank & Trust Co
Apr 16, 2013
—
Byt Investments LLC
Beck,steven & Kristy
Quit Claim Deed
related
—
Jul 31, 2012
—
Steven Beck
Big Az Properties LLC
Warranty Deed
$185,000 · Western State Bank
Apr 27, 2012
$73,000
Big Az Properties LLC
Sbaz Real Estate Holdings LLC
Grant Deed
$56,750 · Western State Bank
Jan 20, 2010
$200,000
Sbaz Real Estate Holdings LLC
Horwitz Ronald M
Trustees Deed
related
—
Aug 19, 2008
—
Elchaparral Az Grill LLC
Vasquez,francisco
Grant Deed
$1,700,000 · Comercio Az R/e II Cde LLC
—
—
Francisco Vasquez
—
Deed Of Trust
related
$80,000 · Sergio Gonzalez
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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