Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    2224 Main St Mesa, AZ 85201-6892
    Back to Search
    Property profile & analytics

    2224 Main St, Mesa, AZ 85201-6892

    View on Map
    • Motels
    • 4,899 SF
    • 0.58 lot acres
    Off-Market
    Last Sale Apr 30, 2020
    $3,580,000
    Property ID
    US07-1610499
    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
    $3,260,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Motels

    Property Details for 2224 Main St

    Year built
    1944
    Construction
    CONCRETE
    Lot size
    0.58 lot acres
    Zone code
    GC
    Property type
    Motels
    APN
    135-45-004A
    APU
    13545004A

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Apr 30, 2020 $3,580,000 Immanuel Properites Az LLC Del Ri Lodge LLC Special Warranty Deed $2.9M · Mega Bank
    Jul 9, 2010 $700,000 Del Rio Lodge LLC Pesakovic,bozidar & Nada Warranty Deed —
    Jul 9, 2010 — Bozidar Pesakovic Ritz Hotel Management Corp Deed In Lieu Of Foreclosure · related —
    Feb 25, 1999 — Lionel J Roberts Roberts,thomas E & Luena Quit Claim Deed · related —
    Mar 29, 1996 $265,000 Bozidar Pesakovic Rollins D & Louise M Lamb Grant Deed —

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $3,405,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $2,863,000
      Market price range: $993k - $4.73M
      AI Estimate
      $2,863,000
      Market price range: $993k - $4.73M

    • Alternative Use

      Use
      Estimation
      HOTEL/MOTEL
      $3,095,000
      Current use
      COMMERCIAL (GENERAL)
      $3,000,000
      Change: -3% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Mesa
    County
    Maricopa
    State
    Arizona
    Longitude
    -111.88
    Latitude
    33.4154
    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
    $4,623
    $0.00
    $0.00
    $111,939
    -
    $422,200
    $256,217
    $678,417

    Comparable in this City

    • Value Estimation
      $1,340,000
      1,386 SF

      Mesa, AZ 85201

      MOTEL
      Mesa, AZ 85201
      View Details
    • Value Estimation
      $2,985,000
      2,280 SF

      36 May

      MOTEL
      36 May, Mesa, AZ 85201
      View Details
    • Value Estimation
      $15,525,000
      21,100 SF

      951 Main St

      MOTEL
      951 Main St, Mesa, AZ 85201-7107
      View Details
    • Value Estimation
      $2,710,000
      2,804 SF

      1554 Main St

      MOTEL
      1554 Main St, Mesa, AZ 85201-7024
      View Details
    • Value Estimation
      $6,140,000
      9,424 SF

      1310 Main St

      MOTEL
      1310 Main St, Mesa, AZ 85201-7017
      View Details
    • Value Estimation
      $2,940,000
      2,928 SF

      2200 Main St

      MOTEL
      2200 Main St, Mesa, AZ 85201-6892
      View Details

    Similar Nearby for Sale

    • $707,000

      Mesa Fourplex in Prime Location

      Well-maintained fourplex with long-term tenants in a high-demand area.
      834 N Cherry, Mesa, AZ 85201
      View Details
    • $899,880
      0.82 Acres

      Mesa Land Parcel Opportunity

      Large multi-use land parcel in Mesa, Arizona.
      1106 N Center St, Mesa, AZ 85201
      View Details
    • Contact for pricing

      Retail Property Near Loop 202

      Retail property with high visibility and access to Loop 202.
      1533 N Alma School Rd, Mesa, AZ 85201
      View Details
    • Contact for pricing
      796 SF

      Retail Space Near 202 Freeway

      Retail space in a high-traffic, densely populated area.
      16 W Mckellips Rd, Mesa, AZ 85201
      View Details
    • $899,890
      0.82 Acres

      Mesa Land Parcel Opportunity

      Large multi-use parcel with potential for various commercial ventures.
      1106 N Center St, Mesa, AZ 85201
      View Details
    • Contact for pricing

      Mesa Office Condominiums For Sale

      Office condominiums for sale, located north of Mesa Country Club.
      560 W Brown Rd, Mesa, AZ 85201
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Retail/Office Space on Main Street

      Retail or office space for lease with frontage on Main Street.
      58 N Country Club Dr, Mesa, AZ 85201
      View Details
    • Contact for pricing
      900 SF

      Retail Space in Escobedo Plaza

      Prime retail space with high visibility and customization options.
      308-340 E University Dr, Mesa, AZ 85201
      View Details
    • Contact for pricing

      Retail Space in Mesa, Arizona

      1,185 SF retail space in high-density Mesa neighborhood.
      323 E Brown Rd, Mesa, AZ 85201
      View Details
    • Contact for pricing
      9,933 SF

      Retail Space in Mesa, Arizona

      Retail spaces available in Mesa, near Loop 202.
      1211 N Country Club Dr, Mesa, AZ 85201
      View Details
    • Contact for pricing
      1,626 SF

      Mesa Retail Space For Rent

      Retail space available within a large mixed-use development.
      1061 N Dobson Rd, Mesa, AZ 85201
      View Details
    • Contact for pricing
      35,000 SF

      Mesa Riverview Retail Opportunity

      Retail space available in a large mixed-use development.
      821-845 N Dobson Rd, Mesa, AZ 85201
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    2224 Main St
    Mesa, AZ 85201-6892
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    2224 Main St, Mesa, AZ, 85201
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!