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Property profile & analytics
OFF-MARKET
Estimated value
$41,220,000
Specialty properties
1865 Higley Rd Mesa, AZ 85205-3324
Entity Owned
5-yr Hold
Property ID
US07-3000257
Property profile
Verified
Property type
Specialty properties
Use group
PROFESSIONAL CLUBS/ASSOCIATIONS
Year built
1999
Construction
STEEL FRAME
Total area
6,842 SF
Lot
13.47 ac (586,570 SF)
Zoning code
RM-3
APN
141-44-464
UPID
US07-3000257
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
-
Sabena Airline Training Center Training Center
-
Frank P. Nguyen, PharmD Pharmacy
-
Millison SR22 Insurance Financial Advisor Insurance Agency
-
Hilton Cleaning, LLC. General Contractor
-
Springs at Alta Mesa Real Estate Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$41.22M
Owner & transaction history
Mrei V Springs LLC · 5 yrs held
Mrei V Springs LLC
since 2020
Last sale
$41.9M
7 recorded transactions
Zoning & alternative use
RM-3 · Mesa, AZ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
$39,875,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$41.22M
Range $37.10M – $45.34M · ±10% · vs last sale $41.90M (Dec 15 2020)
Last sale anchor
$41.90M
Dec 15 2020
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
$6,025 / 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
$192,819
Tax year 2023
Assessed value
$5,721,910
Assessed 2024
Previous assessed
$3,972,430
+44.0% YoY
Effective rate
3.37%
On assessed value
Land market value
$11,443,800
Improvement market value
$45,775,300
Total market value
$57,219,100
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
Specialty properties
Use group
PROFESSIONAL CLUBS/ASSOCIATIONS
Status
Off-Market
Year built
1999
Construction
STEEL FRAME
Heating
PACKAGE
Cooling
YES
Buildings
25
Stories
1
Units
200
Total area
6,842 SF
Lot
13.47 ac (586,570 SF)
Zoning code
RM-3
APN
141-44-464
UPID
US07-3000257
Jurisdiction
MARICOPA
Zoning & alternative use
RM-3 · Mesa, AZ
Zoning RM-3 · permitted uses
RM-3 · 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.
Building & site characteristics
From public records
Year built
1999
Construction
STEEL FRAME
Heating
PACKAGE
Cooling
Yes
Stories
1
Buildings
25
Units
200
Lot
13.47 ac
Current owner
From public records · entity-resolved
Mrei V Springs LLC
Entity
Mailing address
8333 DOUGLAS AVE STE #1600, DALLAS, TX 75225-5882
Ownership since
2020
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
Dec 12, 2025
—
Mrei V Springs LLC
—
Deed
related
$34,905,000 · Pgim Real Estate Agency Financing LLC
Dec 15, 2020
$41,895,000
Mrei V Springs LLC
Capital Re Springs At Alta Mesa LLC
Special Warranty Deed
$27,690,000 · Pgim Real Estate Finance LLC
Dec 15, 2020
—
Avanti Residential-springs At
Real Estate-springs At Capital
Grant Deed
related
—
Sep 9, 2015
$24,760,000
Capital Real Estate-springs
Hsl Springs Of Alta Mesa Apar
Grant Deed
$17,500,000 · The Western & Southern Life Insurance
Aug 5, 2009
$15,000,000
Hsl Springs At Alta Mesa Apartments
Alta Mesa Az LLC
Special Warranty Deed
$10,779,000 · Deutsche Bank Berkshire Mortgage In
Dec 24, 2008
—
Alta Mesa Az LLC
Williams Craig K
Trustees Deed
related
—
Sep 8, 2006
$26,300,000
Alta Mesa Property Holdings LLC
Alta Mesa 200 LP
Special Warranty Deed
$26,955,000 · Wachovia Bank NA
—
—
Hsl Springs Of Alta Mesa Apartmen
—
Deed Of Trust
related
$2,000,000 · Berkeley Point Capital LLC
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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