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Property profile & analytics
OFF-MARKET
Estimated value
$19,805,000
Grocery and convenience stores
2836 Power Rd Mesa, AZ 85215-1678
Entity Owned
9-yr Hold
~
Est. High Equity
Property ID
US07-3270813
Property profile
Verified
Property type
Grocery and convenience stores
Use group
GROCERY, SUPERMARKET
Year built
1998
Construction
CONCRETE
Total area
50,920 SF
Lot
13.24 ac (576,674 SF)
Zoning code
LC
APN
141-69-987C
UPID
US07-3270813
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
-
Mathnasium of Mesa North Tutoring Service
-
Orangetheory Fitness Gym & Fitness Center
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$19.82M
Blend (final)
Blend
$19.81M
Owner & transaction history
Furst Jacobs LLC · 9 yrs held
Furst Jacobs LLC
since 2017
7 recorded transactions
Zoning & alternative use
LC · Mesa, AZ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
Limited Commercial (LC). To provide areas for indoor retail, entertainment, and service-oriented businesses that serve the surrounding residential trade area within a one (1) to 10-mile radius. Typical uses include, but are not limited to, grocery stores and additional large commercial developments, anchored tenant shopping centers with additional drug store…
Zone name
Limited Commercial
General category
COMMERCIAL
Zone area
4,253.61 ac
Source
code of ordinances
Top alternative use upside
Commercial (general)
$32.7M
+144.8%
Restaurant
$32.6M
+144.2%
Auto repair, garage
$22.4M
+68.1%
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
RETAIL STORES
$13,345,000
Current use
COMMERCIAL (GENERAL)
$32,675,000
Change: +145% · Conversion: Easy
RESTAURANT
$32,590,000
Change: +144% · Conversion: Easy
AUTO REPAIR, GARAGE
$22,440,000
Change: +68% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$15,860,000
Change: +19% · Conversion: Moderate
MEDICAL BUILDING
$13,335,000
Change: 0% · Conversion: Difficult
Blend value · Realmo final
$19.81M
Range $17.82M – $21.79M · ±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
$389 / 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
$200,435
Tax year 2023
Assessed value
$2,515,207
Assessed 2024
Previous assessed
$2,458,353
+2.3% YoY
Effective rate
7.97%
On assessed value
Land market value
$5,131,000
Improvement market value
$10,112,682
Total market value
$15,243,682
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
Grocery and convenience stores
Use group
GROCERY, SUPERMARKET
Status
Off-Market
Year built
1998
Construction
CONCRETE
Heating
PACKAGE
Cooling
YES
Buildings
9
Stories
1
Units
9
Total area
50,920 SF
Lot
13.24 ac (576,674 SF)
Zoning code
LC
APN
141-69-987C
UPID
US07-3270813
Jurisdiction
MARICOPA
Zoning & alternative use
LC · Mesa, AZZoning LC · permitted uses
LC · Mesa, AZ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
Limited Commercial (LC). To provide areas for indoor retail, entertainment, and service-oriented businesses that serve the surrounding residential trade area within a one (1) to 10-mile radius. Typical uses include, but are not limited to, grocery stores and additional large commercial developments, anchored tenant shopping centers with additional drug stores, fast-food restaurants, hardware and building supply stores, gas stations with convenience stores, and restaurants and cafes. Other typical uses include, but are not limited to, those anchors and large commercial developments that are typically located within a regional mall, retail outlet, or power center. Other compatible uses include medical and professional offices, as well as public and semi-public uses. 3.
Zone name
Limited Commercial
General category
COMMERCIAL
Zone area
4,253.61 ac
Source
code of ordinances
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$13.3M
COMMERCIAL (GENERAL)
Est. value
$32.7M
RESTAURANT
Est. value
$32.6M
AUTO REPAIR, GARAGE
Est. value
$22.4M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$15.9M
MEDICAL BUILDING
Est. value
$13.3M
RETAIL STORES Current
COMMERCIAL (GENERAL)
RESTAURANT
AUTO REPAIR, GARAGE
NEIGHBORHOOD: SHOPPING CENTER
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
1998
Construction
CONCRETE
Heating
PACKAGE
Cooling
Yes
Stories
1
Buildings
9
Units
9
Lot
13.24 ac
Current owner
From public records · entity-resolved
Furst Jacobs LLC
Entity
Mailing address
100 CYN CRK, IRVINE, CA 92603-0422
Ownership since
2017
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
10 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 23, 2017
$21,748,438
Furst Jacobs LLC
Mdc Ridgeview Plaza Associates
Grant Deed
$9,317,988 · Miscellaneous Ins Co
Jul 10, 2007
$28,000
Rl Lot 5 LLC
Bryan Of Moore Development LLC
Grant Deed
—
Oct 9, 2002
—
Bryanmoore Lot 5 LLC
Bryanmoore LLC
Quit Claim Deed
related
$11,700,000 · Canadian Imperial Bank Commerc
Mar 24, 2000
—
Bryan/moore Development LLC
Bryan/moore LP
Quit Claim Deed
related
$11,000,000 · Gmac Commercial Mortgage Corp
Oct 28, 1998
$525,000
Bryan/moore LP
Carleton Square Assn Prop LP
Grant Deed
$525,000 · Seller
Sep 11, 1998
$10,000,000
Bryan/moore LP
Carleton Sq Associates Prop LP
Grant Deed
$6,800,000 · Midland Loan Services LP
Jan 28, 1994
$2,525,000
Carleton Square Associates Prope
Wm Grace Dev
Grant Deed
$700,000 · Seller Carry Back
Sep 16, 1988
—
W M Grace Dev Co
—
Deed Of Trust
related
—
—
—
Mdc Ridgeview Plaza Assocs LP
—
Deed Of Trust
related
$10,000,000 · Miscellaneous Ins Co
—
—
Mdc Ridgeview Plaza Assocs LP
—
Loan Modification
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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