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Property profile & analytics
FOR LEASE
Drive through restaurants
2729 S Alma School Rd, Mesa, AZ 85210
Entity Owned
1-yr Hold
Free & Clear
Property ID
US07-2928568
For Lease
1 / 2
$1,245,000
2729 S Alma School Rd, Mesa, AZ 85210
View Listing →
Property profile
Verified
Property type
Drive through restaurants
Use group
DRIVE-THRU RESTAURANT, FAST FOOD
Year built
1985
Construction
STEEL FRAME
Total area
1,926 SF
Lot
0.4 ac (17,224 SF)
Zoning code
C-G
APN
302-87-818
UPID
US07-2928568
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
-
Amada’s Mexican Food Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.27M
Blend (final)
Blend
$1.25M
Owner & transaction history
City Of Mesa · 1 yrs held
City Of Mesa
since 2025
6 recorded transactions
Zoning & alternative use
C-G · Mesa, AZ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$1.2M
+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
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
RESTAURANT
$1,235,000
Current use
COMMERCIAL (GENERAL)
$1,235,000
Change: +0% · Conversion: Easy
Blend value · Realmo final
$1.25M
Range $1.12M – $1.37M · ±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
$646 / 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
$9,850
Tax year 2023
Assessed value
$136,833
Assessed 2024
Previous assessed
$124,916
+9.5% YoY
Effective rate
7.20%
On assessed value
Land market value
$568,300
Improvement market value
$260,989
Total market value
$829,289
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
Drive through restaurants
Use group
DRIVE-THRU RESTAURANT, FAST FOOD
Status
For Lease
Year built
1985
Construction
STEEL FRAME
Heating
NONE
Stories
1
Total area
1,926 SF
Lot
0.4 ac (17,224 SF)
Zoning code
C-G
APN
302-87-818
UPID
US07-2928568
Jurisdiction
MARICOPA
Zoning & alternative use
C-G · Mesa, AZ
Zoning C-G · permitted uses
C-G · 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
$1.2M
COMMERCIAL (GENERAL)
Est. value
$1.2M
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
1985
Construction
STEEL FRAME
Heating
NONE
Stories
1
Lot
0.4 ac
Current owner
From public records · entity-resolved
City Of Mesa
Entity
Free & Clear · 1 yrs held
Mailing address
PO BOX 25, RANCHO SANTA FE, CA 92067-0025
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 5, 2025
—
City Of Mesa
Guadalupe Alma School Equities LLC
Special Warranty Deed
—
Feb 21, 2008
$875,000
H & J Mp LLC
Gfd Az Investments LLC
Warranty Deed
—
Dec 4, 2006
$808,000
Gfd Az Investments LLC
Mercantile Developments INC
Special Warranty Deed
—
Jan 13, 1999
—
Mesa City (az)
Mercantile Developments INC
Grant Deed
related
—
Jan 28, 1988
$133,000
Mercantile Devel
Victo
Grant Deed
related
—
Jan 1, 1988
$133,000
Gf Developments
Marve
Grant Deed
related
—
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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