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Property profile & analytics
OFF-MARKET
Estimated value
$7,350,000
Strip malls
2053 Alma School Rd Mesa, AZ 85210-4002
Entity Owned
1-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US07-2397931
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1985
Construction
CONCRETE
Total area
9,300 SF
Lot
5.5 ac (239,670 SF)
Zoning code
LC
APN
302-04-895
UPID
US07-2397931
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
-
Applebee's Grill + Bar Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$7.35M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$6.12M
Blend (final)
Blend
$7.35M
Owner & transaction history
Fhi Fiesta Palms LLC · 1 yrs held
Fhi Fiesta Palms LLC
since 2024
Last sale
$7.4M
2 recorded transactions
Zoning & alternative use
LC · Mesa, AZ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$6.0M
+106.0%
Restaurant
$6.0M
+105.5%
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
$7,350,000
ML approach
$7,350,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$5,970,000
Change: +106% · Conversion: Easy
RESTAURANT
$5,950,000
Change: +106% · Conversion: Difficult
Blend value · Realmo final
$7.35M
Range $6.62M – $8.09M · ±10% · vs last sale $7.35M (Dec 12 2024)
Last sale anchor
$7.35M
Dec 12 2024
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
$790 / 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
$93,798
Tax year 2023
Assessed value
$1,324,713
Assessed 2024
Previous assessed
$1,151,121
+15.1% YoY
Effective rate
7.08%
On assessed value
Land market value
$4,354,900
Improvement market value
$3,673,665
Total market value
$8,028,565
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
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
Off-Market
Year built
1985
Construction
CONCRETE
Heating
PACKAGE
Cooling
YES
Buildings
6
Stories
1
Units
6
Total area
9,300 SF
Lot
5.5 ac (239,670 SF)
Zoning code
LC
APN
302-04-895
UPID
US07-2397931
Jurisdiction
MARICOPA
Zoning & alternative use
LC · Mesa, AZ
Zoning LC · permitted uses
LC · Mesa, AZ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Mesa. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL)
Est. value
$6.0M
RESTAURANT
Est. value
$6.0M
COMMERCIAL (GENERAL)
RESTAURANT
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
1985
Construction
CONCRETE
Heating
PACKAGE
Cooling
Yes
Stories
1
Buildings
6
Units
6
Lot
5.5 ac
Current owner
From public records · entity-resolved
Fhi Fiesta Palms LLC
Entity
Mailing address
131 W 1ST STA, MESA, AZ 85201-6602
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 15, 2025
—
Fhi Fiesta Palms LLC
—
Deed
related
$4,200,000 · Ameritas Life Insurance Corp
Dec 12, 2024
$7,350,000
Fhi Fiesta Palms LLC
V7 Investments LLC
Special Warranty Deed
$3,675,000 · Midfirst Bank
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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