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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1902 Higley Rd Mesa, AZ 85205-3306

    • Turn key restaurants
    • 1,350 SF
    • 0.17 lot acres
    OFF-MARKET
    Last Sale
    Dec 23, 2021
    $900,000
    Value Estimations
    $900,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US07-2671003
    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

    • Flancer's Incredible Sandwiches & Pizza / Caterer / Delivery Service

    Property Details for 1902 Higley Rd

    Year built
    2006
    Construction
    CONCRETE
    Lot size
    0.17 lot acres
    Property size
    1,350 SF
    Zone code
    I-1
    Property type
    Turn key restaurants
    APN
    141-35-047
    APU
    14135047

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $900,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $669,000
      Market price range: $356k - $1.60M
      AI Estimate
      $640,000
      Market price range: $340k - $1.60M

    • Alternative Use

      Use
      Estimation
      RESTAURANT
      $865,000
      Current use
      COMMERCIAL (GENERAL)
      $865,000
      Change: +0% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Mesa
    County
    Maricopa
    State
    Arizona
    Longitude
    -111.719
    Latitude
    33.4501
    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
    $4,693
    $0.00
    $0.00
    $72,101
    -
    $112,600
    $324,378
    $436,978

    Comparable in this City

    • Value Estimation
      $3,055,000
      5,490 SF

      1143 Higley Rd

      RESTAURANT • 5,490 SF
      1143 Higley Rd, Mesa, AZ 85205-5305
      View Details
    • Value Estimation
      $4,275,000
      3,614 SF

      4815 Main St

      RESTAURANT • 3,614 SF
      4815 Main St, Mesa, AZ 85205-8002
      View Details
    • Value Estimation
      $1,380,000
      1,920 SF

      6320 Main St

      RESTAURANT • 1,920 SF
      6320 Main St, Mesa, AZ 85205-8930
      View Details
    • Value Estimation
      $1,590,000
      5,048 SF

      430 Power Rd

      RESTAURANT • 5,048 SF
      430 Power Rd, Mesa, AZ 85205-7610
      View Details
    • Value Estimation
      $10,600,000
      5,255 SF

      1150 Higley Rd

      RESTAURANT • 5,255 SF
      1150 Higley Rd, Mesa, AZ 85205-5300
      View Details
    • Value Estimation
      $850,000
      5,190 SF

      4906 Main St

      RESTAURANT • 5,190 SF
      4906 Main St, Mesa, AZ 85205-8011
      View Details

    Similar Nearby for Sale

    • $1,749,000
      5,190 SF

      Turnkey Restaurant with Patio

      Fully equipped restaurant ready for immediate operation with exterior patio.
      4906 E Main St, Mesa, AZ 85205
      View Details
    • $934,000

      Mesa Retail Space with Drive-Thru

      Versatile property with drive-thru, prime location, and high visibility.
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      6,600 SF

      Mesa Retail Investment Opportunity

      Retail property with established tenants in Mesa, Arizona.
      1325 N Greenfield Rd, Mesa, AZ 85205
      View Details
    • Contact for pricing
      2,360 SF

      Freestanding Drive-Thru Restaurant For Sale

      Freestanding drive-thru restaurant on Main Street available for sale.
      6339 E Main St, Mesa, AZ 85205
      View Details
    • $2,728,000
      6,600 SF

      Mountainview Plaza Retail Center

      Mesa, AZ Shopping Center - Strong Tenants
      1325 Greenfield Rd, Mesa, AZ 85205
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    • $7,295,000
      10,095 SF

      Mesa Daycare Investment Opportunity

      High-yield NNN lease, strong tenant.
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    Similar Nearby for Lease

    • $15 SF/Yr
      31,888 SF

      Restaurant Spaces Available For Lease

      Restaurant spaces available for lease in Mesa, Arizona.
      4815 E Main St, Mesa, AZ 85205
      View Details
    • $15 SF/Yr
      31,888 SF

      Main Street Plaza Retail Space

      Mesa, AZ: Prime Retail Opportunity
      4815 Main St, Mesa, AZ 85205
      View Details
    • Contact for pricing
      1,558 SF

      Freestanding Building with Drive-Thru

      Freestanding building with drive-thru available for lease.
      4450 E Brown Rd, Mesa, AZ 85205
      View Details
    • Contact for pricing
      18,041 SF

      Retail Space Near Greenfield Road

      Retail property in Mesa, Arizona, with high visibility.
      63 N Greenfield Rd, Mesa, AZ 85205
      View Details
    • $15 SF/Yr
      37,492 SF

      Mesa Retail Center Space Available

      Retail space available in Mesa Center with great visibility.
      5255 E Brown Rd, Mesa, AZ 85205
      View Details
    • Contact for pricing
      2,500 SF

      Retail Space on E Main

      Retail space with frontage on E Main Street.
      6018-6134 E Main St, Mesa, AZ 85205
      View Details
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    1902 Higley Rd
    Mesa, AZ 85205-3306
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    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
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