Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1702 S Val Vista Dr Mesa, AZ 85204

    • Retail space
    • 12,000 SF
    • 0.85 lot acres
    For Lease
    View listing
    Last Sale
    Dec 06, 2022
    $4,928,000
    Value Estimations
    $4,350,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US07-0432699
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Brain Balance Center / Training Center / Tutoring Service
    • Nail 21 Lounge / Nail Salon
    • Dr Craig A Young Dmd / Dental Office
    • MORGAN L HUPPENTHAL / Physician
    • Foothills Physical Therapy & Sports Medicine / Medical Clinic

    Property Details for 1702 S Val Vista Dr

    Year built
    2002
    Construction
    CONCRETE
    Lot size
    0.85 lot acres
    Property size
    12,000 SF
    Zone code
    C-G
    Property type
    Retail space
    APN
    140-65-214A
    APU
    14065214A

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $4,615,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $3,643,000
      Market price range: $1.46M - $5.55M
      AI Estimate
      $3,638,000
      Market price range: $1.46M - $5.55M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $3,145,000
      Current use
      AUTO REPAIR, GARAGE
      $5,290,000
      Change: +68% Conversion: Difficult
      NEIGHBORHOOD: SHOPPING CENTER
      $3,735,000
      Change: +19% Conversion: Moderate
      MEDICAL BUILDING
      $3,145,000
      Change: -0% Conversion: Difficult
      OFFICE BUILDING
      $2,610,000
      Change: -17% Conversion: Easy

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Mesa
    County
    Maricopa
    State
    Arizona
    Longitude
    -111.755
    Latitude
    33.3843
    CBSA code
    38060
    CBSA name
    PHOENIX-MESA-SCOTTSDALE, AZ METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $26,407
    $0.00
    $0.00
    $462,314
    -
    $1,041,600
    $1,760,300
    $2,801,900

    Comparable in this City

    • Value Estimation by Request
      896 SF

      431 Broadway Rd

      RETAIL STORES (PERSONAL SERVICES) • 896 SF
      431 Broadway Rd, Mesa, AZ 85204-2019
      View Details
    • Value Estimation
      $1,265,000
      7,943 SF

      1232 Southern Ave

      RETAIL STORES (PERSONAL SERVICES) • 7,943 SF
      1232 Southern Ave, Mesa, AZ 85204-5152
      View Details
    • Value Estimation
      $870,000
      2,818 SF

      Mesa, AZ 85204

      RETAIL STORES (PERSONAL SERVICES) • 2,818 SF
      Mesa, AZ 85204
      View Details
    • Value Estimation
      $845,000
      1,884 SF

      1152 Broadway Rd

      RETAIL STORES (PERSONAL SERVICES) • 1,884 SF
      1152 Broadway Rd, Mesa, AZ 85204-2111
      View Details
    • Value Estimation by Request
      2,472 SF

      61 Stapley Dr

      RETAIL STORES (PERSONAL SERVICES) • 2,472 SF
      61 Stapley Dr, Mesa, AZ 85204-1101
      View Details
    • Value Estimation by Request
      1,757 SF

      755 Broadway Rd

      RETAIL STORES (PERSONAL SERVICES) • 1,757 SF
      755 Broadway Rd, Mesa, AZ 85204-2066
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Freestanding Retail/Medical Building Available

      Freestanding 3,600 SF retail/medical building with high visibility.
      1120 S Gilbert Rd, Mesa, AZ 85204
      View Details
    • Contact for pricing
      11,000 SF

      Restaurant and Retail Space Available

      Restaurant and retail property for sale in Mesa, Arizona.
      1315 S Gilbert Rd, Mesa, AZ 85204
      View Details
    • Contact for pricing

      Mesa Retail Space Available

      Highly visible retail space in Mesa, Arizona, for sale.
      1245 East Southern Ave, Mesa, AZ 85204
      View Details
    • $3,100,000

      Mesa Retail Space For Sale

      Retail space with high ceilings, roll-up door, and coolers.
      1315 S Gilbert Rd, Mesa, AZ 85204
      View Details
    • Contact for pricing

      Prime Retail Location on Stapley

      Excellent street visibility and daily traffic in a dynamic location.
      1920 S Stapley Dr, Mesa, AZ 85204
      View Details
    • $2,454,000

      Retail Space in Dense Corridor

      Retail space with a new 10-year lease and guarantees.
      2336 E Baseline Rd, Mesa, AZ 85204
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      1,525 SF

      Retail Suites on Gilbert Road

      Retail spaces available for immediate occupancy on Gilbert Road.
      437 S Gilbert Rd, Mesa, AZ 85204
      View Details
    • Contact for pricing
      2,300 SF

      Retail Space in High-Traffic Center

      Retail space available in high-visibility shopping center.
      1660 S Val Vista Dr, Mesa, AZ 85204
      View Details
    • Contact for pricing
      3,000 SF

      Restaurant/Retail Space Available For Rent

      Former restaurant space available in established retail location.
      1230-1350 S Gilbert Rd, Mesa, AZ 85204
      View Details
    • Contact for pricing
      1,000 SF

      Retail/Office Space Available

      800 SF retail/office space in a neighborhood retail center.
      535 E Southern Ave, Mesa, AZ 85204
      View Details
    • Contact for pricing
      3,136 SF

      Drive-Thru Ready Retail Building

      Retail building with drive-thru and high traffic visibility.
      1937 E Southern Ave, Mesa, AZ 85204
      View Details
    • Contact for pricing
      1,300 SF

      Retail Space with Excellent Visibility

      Retail space with high visibility and ample parking available for rent.
      3460 E Southern Ave, Mesa, AZ 85204
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1702 S Val Vista Dr
    Mesa, AZ 85204
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!