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Property profile & analytics
OFF-MARKET
Estimated value
$2,135,000
Industrial properties
1724 Nevada Way, Mesa, AZ 85204-6624
Entity Owned
13-yr Hold
~
Est. High Equity
Property ID
US07-0037904
Property profile
Verified
Property type
Industrial properties
Use group
INDUSTRIAL LOFT BUILDING
Year built
1993
Construction
CONCRETE
Total area
10,280 SF
Lot
0.9 ac (39,400 SF)
Zoning code
LI
APN
139-11-012
UPID
US07-0037904
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
-
Compliance Testing Engineering Consultant
-
Davinci Meeting Rooms Marketing & Advertising Event Planning
-
P25 Interoperability - Compliance Testing Consultant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.13M
Blend (final)
Blend
$2.14M
Owner & transaction history
Faith Real Estate LLC · 13 yrs held
Faith Real Estate LLC
since 2012
7 recorded transactions
Zoning & alternative use
LI · Mesa, AZ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center
$3.2M
+89.7%
Retail stores
$2.7M
+59.6%
Medical building
$2.7M
+59.5%
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
INDUSTRIAL (GENERAL)
$1,690,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$3,200,000
Change: +90% · Conversion: Difficult
RETAIL STORES
$2,695,000
Change: +60% · Conversion: Moderate
MEDICAL BUILDING
$2,690,000
Change: +60% · Conversion: Difficult
OFFICE BUILDING
$2,235,000
Change: +33% · Conversion: Difficult
Blend value · Realmo final
$2.14M
Range $1.92M – $2.35M · ±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
$208 / 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
$14,969
Tax year 2023
Assessed value
$274,049
Assessed 2024
Previous assessed
$229,109
+19.6% YoY
Effective rate
5.46%
On assessed value
Land market value
$298,800
Improvement market value
$1,362,100
Total market value
$1,660,900
Applied tax rate
411,000.0000
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
Industrial properties
Use group
INDUSTRIAL LOFT BUILDING
Status
Off-Market
Year built
1993
Construction
CONCRETE
Heating
PACKAGE
Cooling
YES
Stories
1
Total area
10,280 SF
Lot
0.9 ac (39,400 SF)
Zoning code
LI
APN
139-11-012
UPID
US07-0037904
Jurisdiction
MARICOPA
Zoning & alternative use
LI · Mesa, AZ
Zoning LI · permitted uses
LI · 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
INDUSTRIAL (GENERAL) Current
Est. value
$1.7M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$3.2M
RETAIL STORES
Est. value
$2.7M
MEDICAL BUILDING
Est. value
$2.7M
OFFICE BUILDING
Est. value
$2.2M
INDUSTRIAL (GENERAL) 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
1993
Construction
CONCRETE
Heating
PACKAGE
Cooling
Yes
Stories
1
Lot
0.9 ac
Current owner
From public records · entity-resolved
Faith Real Estate LLC
Entity
Mailing address
2401 N 76TH PL, SCOTTSDALE, AZ 85257-1601
Ownership since
2012
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
12 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 2, 2021
—
Faith Real Estate LLC
—
Deed
related
$300,000 · Arizona Housing Finance Authority
Dec 1, 2021
—
Faith Real Estate LLC
—
Deed
related
$300,000 · Arizona FCU
Oct 13, 2021
—
Faith Real Estate LLC
—
Deed
related
$100,000 · Midfirst Bank
Mar 8, 2013
—
Faith Real Estate LLC
—
Deed Of Trust
related
$1,484,200 · Pinnacle Bank
Dec 28, 2012
$785,000
Faith Real Estate LLC
Jpmorgan Chase Bank NA
Grant Deed
$1,147,000 · Pinnacle Bank
May 16, 2012
$589,020
Jp Morgan Chase Bk
Messing Jeffrey
Trustees Deed
related
—
Jan 31, 2006
$1,250,000
Iss LLC
Dugan Weathers LLC
Grant Deed
$1,200,000 · Dugan Weathers LLC
Jan 31, 2006
—
Iss LLC
Weathers,sharon L
Quit Claim Deed
related
—
Jan 24, 2003
$457,150
Dugan Weathers LLC
Weathers,leland C
Grant Deed
related
—
Jan 22, 2003
$457,150
Leland C Weathers
Control Logic INC
Grant Deed
—
Mar 27, 1991
$55,000
Logic In Control
Merabank
Grant Deed
—
Dec 12, 1989
—
Merabank
Eaton/fsc Mesa B
Grant Deed
related
—
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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