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Property profile & analytics
OFF-MARKET
Estimated value
$4,370,000
Turn key restaurants
1650 Clearview Ave, Mesa, AZ 85209-4048
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US07-1251458
Property profile
Verified
Property type
Turn key restaurants
Use group
RESTAURANT
Year built
1996
Construction
STEEL FRAME
Total area
6,072 SF
Lot
1.51 ac (65,776 SF)
Zoning code
C-G
APN
218-56-723
UPID
US07-1251458
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
-
Outback Steakhouse Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$4.47M
Blend (final)
Blend
$4.37M
Owner & transaction history
Dorway Mesa LLC · 2 yrs held
Dorway Mesa LLC
since 2024
7 recorded transactions
Zoning & alternative use
C-G · Mesa, AZ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$3.9M
+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
$3,885,000
Current use
COMMERCIAL (GENERAL)
$3,895,000
Change: +0% · Conversion: Easy
Blend value · Realmo final
$4.37M
Range $3.93M – $4.81M · ±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
$720 / 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
$24,651
Tax year 2023
Assessed value
$481,256
Assessed 2024
Previous assessed
$481,256
+0.0% YoY
Effective rate
5.12%
On assessed value
Land market value
$1,644,400
Improvement market value
$1,272,300
Total market value
$2,916,700
Applied tax rate
41,012.0000
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
Turn key restaurants
Use group
RESTAURANT
Status
Off-Market
Year built
1996
Construction
STEEL FRAME
Heating
NONE
Stories
1
Total area
6,072 SF
Lot
1.51 ac (65,776 SF)
Zoning code
C-G
APN
218-56-723
UPID
US07-1251458
Jurisdiction
MARICOPA
Zoning & alternative use
C-G · Mesa, AZ
Zoning C-G · permitted uses
C-G · 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
$3.9M
COMMERCIAL (GENERAL)
Est. value
$3.9M
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
1996
Construction
STEEL FRAME
Heating
NONE
Stories
1
Lot
1.51 ac
Current owner
From public records · entity-resolved
Dorway Mesa LLC
Entity
Mailing address
PO BOX 399, FLAGSTAFF, AZ 86002-0399
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
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 31, 2024
—
Dorway Mesa LLC
Floyd Wayne Thompson
Warranty Deed
—
May 30, 2024
$4,289,000
Floyd Wayne Thompson
Lcn Blm Chandler Multi LLC
Special Warranty Deed
—
Aug 8, 2023
—
Outback Steakhouse Of Florida LLC
Lcn Blm Chandler Multi LLC
Lease
—
Oct 10, 2016
$3,785,197
Lcn Blm Chandler Multi LLC
New Private Restaurant Properties L
Special Warranty Deed
$34,320,000 · Wells Fargo Bank NA
Aug 2, 2016
—
New Private Restaurant Props L
—
Deed
related
$300,000,000 · Wells Fargo Bk
Apr 4, 2012
—
New Private Restaurant Props L
Private Restaurant Props LLC
Quit Claim Deed
related
—
Jun 22, 2007
—
Private Restaurant Props LLC
Outback Steakhouse Of Florida INC
Quit Claim Deed
related
—
Oct 31, 1996
$500,000
Outback Steakhouse Of Florida In
Bv Development INC
Grant Deed
—
—
—
New Private Restaurant Props L
—
Loan Modification
related
$300,000,000 · Wells Fargo Bk
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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