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Property profile & analytics
OFF-MARKET
Estimated value
$850,000
Turn key restaurants
2120 Southern Ave, Mesa, AZ 85202-4703
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US07-0968269
Property profile
Verified
Property type
Turn key restaurants
Use group
RESTAURANT
Year built
1977
Construction
CONCRETE
Total area
1,541 SF
Lot
0.49 ac (21,159 SF)
Zoning code
LC
APN
134-42-228G
UPID
US07-0968269
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
-
Luigi's Smoke And Vape (Bike/Boat/Book/etc) Store Alternative Medicine Practice
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$867k
Blend (final)
Blend
$850k
Owner & transaction history
Mesa Top LLC · 3 yrs held
Mesa Top LLC
since 2023
Last sale
$850,000
7 recorded transactions
Zoning & alternative use
LC · Mesa, AZ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$990,000
+0.3%
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
$1,010,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RESTAURANT
$985,000
Current use
COMMERCIAL (GENERAL)
$990,000
Change: +0% · Conversion: Easy
Blend value · Realmo final
$850k
Range $765k – $935k · ±10% · vs last sale $850k (Jun 30 2023)
Last sale anchor
$850k
Jun 30 2023
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
$552 / 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
$8,465
Tax year 2023
Assessed value
$93,338
Assessed 2024
Previous assessed
$82,263
+13.5% YoY
Effective rate
9.07%
On assessed value
Land market value
$389,000
Improvement market value
$176,687
Total market value
$565,687
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
Turn key restaurants
Use group
RESTAURANT
Status
Off-Market
Year built
1977
Construction
CONCRETE
Heating
NONE
Stories
1
Total area
1,541 SF
Lot
0.49 ac (21,159 SF)
Zoning code
LC
APN
134-42-228G
UPID
US07-0968269
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
RESTAURANT Current
Est. value
$985,000
COMMERCIAL (GENERAL)
Est. value
$990,000
RESTAURANT Current
COMMERCIAL (GENERAL)
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
1977
Construction
CONCRETE
Heating
NONE
Stories
1
Lot
0.49 ac
Current owner
From public records · entity-resolved
Mesa Top LLC
Entity
Mailing address
20222 W WHITTON CT, BUCKEYE, AZ 85396-8420
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
12 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 30, 2023
$850,000
Mesa Top LLC
Gm Elped LLC
Special Warranty Deed
$637,500 · Firstbank
Sep 18, 2020
$294,000
Gm Elped LLC
2120 Southern Ave LLC
Grant Deed
—
Sep 10, 2019
—
2120 Southern Ave LLC
—
Deed
related
$200,000 · Gfah Equity Lndg
May 3, 2018
$2,800,000
Wong 168 LLC
2120 Southern Ave LLC
Trustees Deed
$1,680,000 · Firstbank
Dec 23, 2013
$1,500,000
2120 Sthrn Ave LLC Ave
Geyser,russell B
Grant Deed
$750,000 · Russell B Geyser
Jul 31, 2012
$1,780,000
Geyser,russell
Gm Banner LLC
Grant Deed
—
Dec 19, 1997
$897,223
Goldberg,david & Susan
Arthur H Friedman
Trustees Deed
—
Dec 19, 1997
—
Freidman,arthur H
Sam & Patty Baum
Trustees Deed
related
—
Oct 7, 1997
$370,000
Arthur H Friedman
Sam & Patty Baum
Grant Deed
$30,000 · Seller
—
—
2120 Southern Ave LLC
—
Deed Of Trust
related
$1,300,000 · Firstbank
—
—
2120 Southern Ave LLC
—
Deed Of Trust
related
$200,000 · Gfah Equity Lndg
—
—
2120 Southern Ave LLC
—
Deed Of Trust
related
$1,000,000 · Firstbank
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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