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Property profile & analytics
OFF-MARKET
Estimated value
$605,000
Distribution centers
257 2nd Ave Mesa, AZ 85210-1347
Individually Owned
22-yr Hold
Free & Clear
Property ID
US07-1215812
Property profile
Verified
Property type
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Year built
1973
Construction
CONCRETE
Total area
16,025 SF
Lot
0.95 ac (41,525 SF)
Zoning code
DB-2
APN
138-52-046
UPID
US07-1215812
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
-
Nuestro Plumbing Air Conditioning Electrical Co Plumbing Service General Contractor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.59M
Blend (final)
Blend
$605k
Owner & transaction history
Lawrence D Arney · 22 yrs held
Lawrence D Arney
since 2004
2 recorded transactions
Zoning & alternative use
DB-2 · Mesa, AZ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
Downtown Business District 2 (DB-2). The purpose of the DB-2 District is to provide for a combination of intensive commercial, light manufacturing, and related uses. The intent of the district is to provide a suitable location for those commercial and manufacturing uses which may require arterial street or railway access. 4.
Zone name
Downtown Business District 2
General category
INDUSTRIAL
Zone area
81.95 ac
Source
code of ordinances
Top alternative use upside
Medical building
$4.2M
+34.6%
Retail stores
$4.1M
+32.4%
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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$3,120,000
Current use
MEDICAL BUILDING
$4,195,000
Change: +35% · Conversion: Difficult
RETAIL STORES
$4,130,000
Change: +32% · Conversion: Moderate
Blend value · Realmo final
$605k
Range $545k – $666k · ±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
$38 / 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
$11,482
Tax year 2023
Assessed value
$294,723
Assessed 2024
Previous assessed
$235,433
+25.2% YoY
Effective rate
3.90%
On assessed value
Land market value
$377,000
Improvement market value
$1,409,200
Total market value
$1,786,200
Applied tax rate
41,010.0000
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
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Status
Off-Market
Year built
1973
Construction
CONCRETE
Heating
PACKAGE
Cooling
YES
Stories
1
Total area
16,025 SF
Lot
0.95 ac (41,525 SF)
Zoning code
DB-2
APN
138-52-046
UPID
US07-1215812
Jurisdiction
MARICOPA
Zoning & alternative use
DB-2 · Mesa, AZZoning DB-2 · permitted uses
DB-2 · Mesa, AZ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
Downtown Business District 2 (DB-2). The purpose of the DB-2 District is to provide for a combination of intensive commercial, light manufacturing, and related uses. The intent of the district is to provide a suitable location for those commercial and manufacturing uses which may require arterial street or railway access. 4.
Zone name
Downtown Business District 2
General category
INDUSTRIAL
Zone area
81.95 ac
Source
code of ordinances
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$3.1M
MEDICAL BUILDING
Est. value
$4.2M
RETAIL STORES
Est. value
$4.1M
WAREHOUSE, STORAGE Current
MEDICAL BUILDING
RETAIL STORES
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
1973
Construction
CONCRETE
Heating
PACKAGE
Cooling
Yes
Stories
1
Lot
0.95 ac
Current owner
From public records · entity-resolved
Lawrence D Arney
Individual
Free & Clear · 22 yrs held
Mailing address
8043 E HERMOSA VIS DR, MESA, AZ 85207
Ownership since
2004
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
Feb 11, 2004
—
Lawrence D Arney
Second Avenue Investments LLC
Grant Deed
related
—
—
—
Mesa Lodge #1961 Loyal Order Of
—
Deed Of Trust
related
$40,000 · Bank One NA
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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