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Property profile & analytics
OFF-MARKET
Estimated value
$3,560,000
Warehouses
230 Mulberry Mesa, AZ 85202-1123
Entity Owned
1-yr Hold
~
Est. High Equity
Property ID
US07-0176400
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
2007
Construction
CONCRETE
Total area
10,200 SF
Lot
4.21 ac (183,443 SF)
Zoning code
GI
APN
134-31-022
UPID
US07-0176400
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$3.65M
Blend (final)
Blend
$3.56M
Owner & transaction history
Mulberry Lot 20 LLC · 1 yrs held
Mulberry Lot 20 LLC
since 2024
7 recorded transactions
Zoning & alternative use
GI · Mesa, AZ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$4.5M
+160.7%
Retail stores
$2.7M
+55.1%
Medical building
$2.7M
+54.9%
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
$3,520,000
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
$4,495,000
Change: +161% · Conversion: Easy
RETAIL STORES
$2,675,000
Change: +55% · Conversion: Moderate
MEDICAL BUILDING
$2,670,000
Change: +55% · Conversion: Difficult
Blend value · Realmo final
$3.56M
Range $3.20M – $3.92M · ±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
$349 / 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
$61,889
Tax year 2023
Assessed value
$1,283,090
Assessed 2024
Previous assessed
$995,265
+28.9% YoY
Effective rate
4.82%
On assessed value
Land market value
$1,578,200
Improvement market value
$6,198,100
Total market value
$7,776,300
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
2007
Construction
CONCRETE
Heating
PACKAGE
Cooling
YES
Buildings
3
Stories
1
Units
3
Total area
10,200 SF
Lot
4.21 ac (183,443 SF)
Zoning code
GI
APN
134-31-022
UPID
US07-0176400
Jurisdiction
MARICOPA
Zoning & alternative use
GI · Mesa, AZ
Zoning GI · permitted uses
GI · 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
AUTO REPAIR, GARAGE
Est. value
$4.5M
RETAIL STORES
Est. value
$2.7M
MEDICAL BUILDING
Est. value
$2.7M
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
2007
Construction
CONCRETE
Heating
PACKAGE
Cooling
Yes
Stories
1
Buildings
3
Units
3
Lot
4.21 ac
Current owner
From public records · entity-resolved
Mulberry Lot 20 LLC
Entity
Mailing address
5210 N CENTRAL AVE STE #102, PHOENIX, AZ 85012-1489
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
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 13, 2024
—
Mulberry Lot 20 LLC
Mp 9365 Mckemy LLC
Warranty Deed
$4,500,000 · Government Personnel Mutual Life In
Jul 26, 2023
$3,700,000
Mahoney Properties LLP
Tenbar INC
Special Warranty Deed
—
Jan 4, 2011
$950,000
Tenbar INC
Tenbar INC
Quit Claim Deed
—
Apr 28, 2010
$2,500,000
Tenbar INC
Mp Of Ten-20 LLC
Grant Deed
—
Aug 23, 2006
—
Mp Of Ten-20 LLC
Tenbar INC
Quit Claim Deed
related
—
Aug 22, 2003
$600,000
Tenbar INC
Mulberry Business Park LP
Grant Deed
—
—
—
Mp 9365 Mckemy LLC
—
Deed Of Trust
related
$2,000,000 · Tenbar INC
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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