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Property profile & analytics
OFF-MARKET
Estimated value
$1,400,000
Grocery and convenience stores
2005 Broadway Rd Mesa, AZ 85202-1164
Entity Owned
21-yr Hold
Free & Clear
Property ID
US07-0059280
Property profile
Verified
Property type
Grocery and convenience stores
Use group
CONVENIENCE STORE
Year built
1997
Construction
CONCRETE
Total area
4,512 SF
Lot
0.45 ac (19,773 SF)
Zoning code
GC
APN
134-39-875
UPID
US07-0059280
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
-
Popeyes Louisiana Kitchen Restaurant
-
Shell Gas Station
-
Cardtronics ATM Atm
-
Circle K Grocery & Convenience Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.40M
Blend (final)
Blend
$1.40M
Owner & transaction history
Jer Realty LLC · 21 yrs held
Jer Realty LLC
since 2005
6 recorded transactions
Zoning & alternative use
GC · Mesa, AZ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
se or display plants, shall not exceed 10,000 square feet. 3. Items displayed outdoors are limited to plants, soils, gravel, soil amendments and fertilizer. 4. Development standards shall comply with requirements of the GC-A district, see Table 11-6-3 B. D. Building Projections into Required Yards. Building projections of a single residence may extend into r…
Zone name
General Commercial
General category
COMMERCIAL
Zone area
1,119.75 ac
Source
code of ordinances
Top alternative use upside
Auto repair, garage
$2.0M
+227.4%
Retail stores
$1.2M
+94.7%
Medical building
$1.2M
+94.6%
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
AUTO REPAIR, GARAGE
$1,990,000
Change: +227% · Conversion: Difficult
RETAIL STORES
$1,185,000
Change: +95% · Conversion: Easy
MEDICAL BUILDING
$1,180,000
Change: +95% · Conversion: Difficult
Blend value · Realmo final
$1.40M
Range $1.26M – $1.54M · ±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
$310 / 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 2022Property tax & assessments
Tax year 2022
Tax billed
$14,869
Tax year 2022
Assessed value
$171,699
Assessed 2024
Previous assessed
$143,650
+19.5% YoY
Effective rate
8.66%
On assessed value
Land market value
$435,000
Improvement market value
$605,600
Total market value
$1,040,600
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
Grocery and convenience stores
Use group
CONVENIENCE STORE
Status
Off-Market
Year built
1997
Construction
CONCRETE
Heating
PACKAGE
Cooling
YES
Buildings
2
Stories
1
Total area
4,512 SF
Lot
0.45 ac (19,773 SF)
Zoning code
GC
APN
134-39-875
UPID
US07-0059280
Jurisdiction
MARICOPA
Zoning & alternative use
GC · Mesa, AZZoning GC · permitted uses
GC · Mesa, AZ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
se or display plants, shall not exceed 10,000 square feet. 3. Items displayed outdoors are limited to plants, soils, gravel, soil amendments and fertilizer. 4. Development standards shall comply with requirements of the GC-A district, see Table 11-6-3 B. D. Building Projections into Required Yards. Building projections of a single residence may extend into required yards, subject to the following standards: 1. No projection may extend int
Zone name
General Commercial
General category
COMMERCIAL
Zone area
1,119.75 ac
Source
code of ordinances
Alternative use value scenarios
Repositioning upside vs current use
AUTO REPAIR, GARAGE
Est. value
$2.0M
RETAIL STORES
Est. value
$1.2M
MEDICAL BUILDING
Est. value
$1.2M
AUTO REPAIR, GARAGE
RETAIL STORES
MEDICAL 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
1997
Construction
CONCRETE
Heating
PACKAGE
Cooling
Yes
Stories
1
Buildings
2
Lot
0.45 ac
Current owner
From public records · entity-resolved
Jer Realty LLC
Entity
Free & Clear · 21 yrs held
Mailing address
1130 W WARNER RDB, TEMPE, AZ 85284-2816
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
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 26, 2005
$1,762,963
Jer Realty LLC
Circle K Stores INC
Grant Deed
related
—
Nov 1, 2004
$1,400,000
Circle K Stores INC
Equilon Enterprises LLC
Grant Deed
related
—
May 13, 2004
—
Mesa City (az)
Equilon Enterprises LLC
Grant Deed
related
—
Jul 2, 1998
—
Equilon Enterprises LLC
Texaco Refining & Marketing
Grant Deed
related
—
Jan 11, 1990
—
Texaco Refining
Cardon
Grant Deed
related
—
Sep 1, 1987
$250,000
Investmen Cardon
Cardo
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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