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Property profile & analytics
OFF-MARKET
Estimated value
$975,000
Retail space
1907 Main St Mesa, AZ 85201-6928
Entity Owned
21-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US07-2398111
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1992
Construction
CONCRETE
Total area
4,445 SF
Lot
0.34 ac (14,670 SF)
Zoning code
LI
APN
134-32-030B
UPID
US07-2398111
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
-
P+R Gilbert Rd/Main St Parking Lot & Garage
-
Palos Grandes Cigars (Bike/Boat/Book/etc) Store
-
Gilbert Rd/Main St Park-and-Ride Parking Lot & Garage
-
Maduro's Social - Cigar Club & Lounge (Bike/Boat/Book/etc) Store
-
Maduro's Fine Cigars & Tobacco East Bar & Pub
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$974k
Blend (final)
Blend
$975k
Owner & transaction history
Hanley Properties III LLC · 21 yrs held
Hanley Properties III LLC
since 2005
5 recorded transactions
Zoning & alternative use
LI · Mesa, AZ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
mbers in this column refer to other sections of the Zoning Ordinance, while individual letters refer to subsections that directly follow the table. Table 11-7-3: Development Standards - Employment Districts Standard PEP LI GI HI Additional Standards Lot and Density Standards Minimum Site Area (acre) 2.5 1.0 1.0 1.0 Minimum Lot Width (ft.) 100 100 100 100 Min…
Zone name
Light Industrial
General category
INDUSTRIAL
Zone area
10,916.12 ac
Source
code of ordinances
Top alternative use upside
Neighborhood: shopping center
$1.4M
+52.8%
Medical building
$1.2M
+28.5%
Office building
$985,000
+8.8%
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
RETAIL STORES
$905,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$1,385,000
Change: +53% · Conversion: Moderate
MEDICAL BUILDING
$1,165,000
Change: +28% · Conversion: Difficult
OFFICE BUILDING
$985,000
Change: +9% · Conversion: Easy
WAREHOUSE, STORAGE
$750,000
Change: -17% · Conversion: Difficult
Blend value · Realmo final
$975k
Range $878k – $1.07M · ±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
$219 / 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
$7,248
Tax year 2023
Assessed value
$129,723
Assessed 2024
Previous assessed
$112,574
+15.2% YoY
Effective rate
5.59%
On assessed value
Land market value
$223,600
Improvement market value
$562,600
Total market value
$786,200
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1992
Construction
CONCRETE
Heating
PACKAGE
Cooling
YES
Stories
1
Total area
4,445 SF
Lot
0.34 ac (14,670 SF)
Zoning code
LI
APN
134-32-030B
UPID
US07-2398111
Jurisdiction
MARICOPA
Zoning & alternative use
LI · Mesa, AZZoning LI · permitted uses
LI · Mesa, AZ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
mbers in this column refer to other sections of the Zoning Ordinance, while individual letters refer to subsections that directly follow the table. Table 11-7-3: Development Standards - Employment Districts Standard PEP LI GI HI Additional Standards Lot and Density Standards Minimum Site Area (acre) 2.5 1.0 1.0 1.0 Minimum Lot Width (ft.) 100 100 100 100 Minimum Lot Depth (ft.) 100 100 100 100 Maximum Lot Coverage (% of lot) 90% 90% 90% 9
Zone name
Light Industrial
General category
INDUSTRIAL
Zone area
10,916.12 ac
Source
code of ordinances
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$905,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.4M
MEDICAL BUILDING
Est. value
$1.2M
OFFICE BUILDING
Est. value
$985,000
WAREHOUSE, STORAGE
Est. value
$750,000
RETAIL STORES Current
NEIGHBORHOOD: SHOPPING CENTER
MEDICAL BUILDING
OFFICE BUILDING
WAREHOUSE, STORAGE
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
1992
Construction
CONCRETE
Heating
PACKAGE
Cooling
Yes
Stories
1
Lot
0.34 ac
Current owner
From public records · entity-resolved
Hanley Properties III LLC
Entity
Mailing address
2710 E CAMELBACK RD STE #210, PHOENIX, AZ 85016-4318
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2005
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 22, 2020
—
Mesa Main Investment LLC
—
Deed
related
$1,084,574 · Bank Of The West
Dec 11, 2018
—
Hot Pizzas LLC
—
Grant Deed
related
$81,000,000 · Regions Bk
Jun 30, 2016
—
Mesa Main Investment LLC
—
Deed
related
$1,200,000 · Bank Of The West
Apr 15, 2005
$7,400,000
Hanley Properties III LLC
Shifrin & Earle-three
Trustees Deed
$5,250,000 · Principal Com'l Fndg
—
—
Mesa Main Investment LLC
—
Deed Of Trust
related
$1,200,000 · Bank Of The West
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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