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    Property profile & analytics

    1940 University Dr Mesa, AZ 85203-8234

    • Strip malls
    • 7,802 SF
    • 0.78 lot acres
    OFF-MARKET
    Value Estimation
    $6,550,000
    Last Sale
    Aug 10, 2022
    $7,000,000
    Location Intelligence
    Property ID
    US07-0397941
    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

    • Kathys Native Pottery and Jewlery / Handicrafts Wholesaler
    • Garcia's Mexican Restaurant / Takeout Restaurant / Restaurant
    • Brook View Apartments, Mesa / Apartment Building
    • Buenas Riverview / Apartment Building
    • Transpacific Asset Management / Property Management Company

    Property Details for 1940 University Dr

    Year built
    2004
    Construction
    CONCRETE
    Lot size
    0.78 lot acres
    Property size
    7,802 SF
    Zone code
    LC
    Property type
    Strip malls
    Property subtype
    Neighborhood centers
    APN
    137-01-221
    APU
    13701221

    Value Estimation

    by Realmo proprietary methodology Last update: July 3, 2025

    • AI approach

      CAP return
      Estimation
      Estimation
      $6,405,000

    • CAP approach

      CAP return
      Estimation
      6%
      $6,500,000
      6.5%
      $7,070,000
      7%
      $7,310,000

    • Comparable approach

      Method
      Estimation
      Relative Method
      $7,050,000
      Geo Method
      $7,055,000

    • Alternative Use

      Use
      Estimation
      Distribution
      $6,535,000
      Retail
      $5,960,000
      Mixed-Use
      $6,170,000
      Hospitality
      $6,190,000
      Educational
      $5,390,000
      Residential Income
      $7,200,000
      Energy
      $5,355,000
      Income-Based Land
      $5,610,000
      Food Service
      $6,300,000

    Location Insight

    • Map
    • Local Demand
    City
    Mesa
    County
    Maricopa
    State
    Arizona
    Longitude
    -111.789
    Latitude
    33.4231
    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
    $30,905
    $0.00
    $0.00
    $391,168
    -
    $630,000
    $1,740,713
    $2,370,713

    Comparable in this City

    • Value Estimation by Request
      22,197 SF

      1109 Main St

      SHOPPING CENTER, STRIP CENTER • 22,197 SF
      1109 Main St, Mesa, AZ 85203-8875
      View Details
    • Value Estimation by Request
      9,600 SF

      1936 Main St

      SHOPPING CENTER, STRIP CENTER • 9,600 SF
      1936 Main St, Mesa, AZ 85203
      View Details
    • Value Estimation by Request
      17,286 SF

      1241 Mckellips Rd

      SHOPPING CENTER, STRIP CENTER • 17,286 SF
      1241 Mckellips Rd, Mesa, AZ 85203-2719
      View Details
    • Value Estimation by Request
      19,278 SF

      1437 Main St

      SHOPPING CENTER, STRIP CENTER • 19,278 SF
      1437 Main St, Mesa, AZ 85203-8900
      View Details
    • Value Estimation by Request
      8,000 SF

      718 Main St

      SHOPPING CENTER, STRIP CENTER • 8,000 SF
      718 Main St, Mesa, AZ 85203-8744
      View Details
    • Value Estimation by Request
      9,586 SF

      755 Mckellips Rd

      SHOPPING CENTER, STRIP CENTER • 9,586 SF
      755 Mckellips Rd, Mesa, AZ 85203-2555
      View Details

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      Freeway-accessible retail property with drive-through and high traffic volume.
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      Retail space available in Fry’s anchored shopping center.
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      Grocery anchored retail center with ample parking and frontage.
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      Retail Space in Mesa, Arizona

      Retail space available in well-established residential area.
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      Retail Space Near Light Rail

      Fry’s anchored shopping center with high visibility and traffic.
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      Retail Space Near US 60

      Retail space available near US 60 Freeway in Mesa.
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    Property Visit Statistics

    • Visits by month
      14.7k
    • Visitors by month
      11.9k
    • Avg Time on site
      15 min
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    Mesa, AZ 85203-8234
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    Realmo Value Estimation

    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.

    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.

    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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