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    2043 S Ellsworth Rd Mesa, AZ 85209
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    Property profile & analytics

    2043 S Ellsworth Rd Mesa, AZ 85209

    View on Map
    • Retail space
    • 4,578 SF
    • 1.01 lot acres
    For Lease
    $1,235,000
    View Listing →
    Retail Space in Grocery Anchored Center For Lease
    $1,235,000

    Retail Space in Grocery Anchored Center

    Last available retail space with signage in Mesa, Arizona.

    2043 S Ellsworth Road, Mesa, AZ 85209
    View Listing
    Property ID
    US07-1092637
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Yogis Grill #2 / Restaurant
    • Starbucks / Cafe & Coffee Shop
    • Joshua Brothers HVAC Company / HVAC Service / General Contractor
    • MAGIC SMOKE VAPE CBD KRATOM ( ELLSWORTH / BASELINE ) / (Bike/Boat/Book/etc) Store / Alternative Medicine Practice

    Property Details for 2043 S Ellsworth Rd

    Year built
    2003
    Construction
    CONCRETE
    Lot size
    1.01 lot acres
    Property size
    4,578 SF
    Zone code
    LC
    Property type
    Retail space
    APN
    312-01-966
    APU
    31201966

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,236,000
      Market price range: $555k - $2.12M
      AI Estimate
      $1,234,000
      Market price range: $555k - $2.12M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $1,200,000
      Current use
      AUTO REPAIR, GARAGE
      $2,015,000
      Change: +68% Conversion: Difficult
      NEIGHBORHOOD: SHOPPING CENTER
      $1,425,000
      Change: +19% Conversion: Moderate
      MEDICAL BUILDING
      $1,200,000
      Change: -0% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Mesa
    County
    Maricopa
    State
    Arizona
    Longitude
    -111.636
    Latitude
    33.3774
    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
    $10,029
    $0.00
    $0.00
    $156,882
    -
    $545,400
    $405,400
    $950,800

    Comparable in this City

    • Value Estimation
      $2,445,000
      7,428 SF

      8402 Southern Ave

      RETAIL STORES (PERSONAL SERVICES) • 7,428 SF
      8402 Southern Ave, Mesa, AZ 85209-3631
      View Details
    • Value Estimation
      $990,000
      2,146 SF

      2250 Buttercup

      RETAIL STORES (PERSONAL SERVICES) • 2,146 SF
      2250 Buttercup, Mesa, AZ 85209-5040
      View Details
    • Value Estimation
      $565,000
      3,253 SF

      1922 74th St

      RETAIL STORES (PERSONAL SERVICES) • 3,253 SF
      1922 74th St, Mesa, AZ 85209-4140
      View Details
    • Value Estimation
      $3,025,000
      16,800 SF

      7561 Baseline Rd

      RETAIL STORES (PERSONAL SERVICES) • 16,800 SF
      7561 Baseline Rd, Mesa, AZ 85209-4903
      View Details
    • Value Estimation
      $2,515,000
      5,440 SF

      1239 Crismon Rd

      RETAIL STORES (PERSONAL SERVICES) • 5,440 SF
      1239 Crismon Rd, Mesa, AZ 85209
      View Details
    • Value Estimation by Request
      859 SF

      1448 Crismon Rd

      RETAIL STORES (PERSONAL SERVICES) • 859 SF
      1448 Crismon Rd, Mesa, AZ 85209-3888
      View Details

    Similar Nearby for Sale

    • $3,136,000
      14,000 SF

      Mesa Retail Space For Rent

      Retail space available near US-60 with drive-thru opportunity.
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      View Details
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      12,243 SF

      Falcon Field Industrial Space Available

      Industrial space for sale with high visibility and easy access.
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      Retail Location in Superstition Springs

      High-traffic retail location in East Mesa's Superstition Springs area.
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      Mesa Land Near Crismon Road

      Land in Mesa, AZ, near Crismon Rd & Guadalupe Rd.
      Crismon Rd & Guadalupe Rd, Mesa, AZ 85209
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      Mesa Power Center Retail Space

      Prime retail space in a high-traffic Mesa shopping center.
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      Ellsworth Rd & Southern Ave SEC, Mesa, AZ 85209

      Commercial land
      SEC Ellsworth Rd & Southern Ave, Mesa, AZ 85209
      View Details

    Similar Nearby for Lease

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      Retail space available in a major retail and traffic hub.
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      1,500 SF

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      1,500 SF retail space with frontage on Power Road.
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      1,200 SF

      Retail Space Near Banner Hospitals

      Retail space with high visibility near hospitals and schools.
      1803 S Crismon Rd, Mesa, AZ 85209
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      Mesa Retail Space For Rent

      Retail space available near US-60 with high traffic counts.
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      Mesa Power Center Retail Space

      Retail space available in established Mesa power center.
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      Mesa Retail Space For Rent

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    Property Visit Statistics

    • Visits by month
      21.1k
    • Visitors by month
      11.2k
    • Avg Time on site
      10 min
    View Listing
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    Mesa, AZ 85209
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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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