Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$1,125,000
Warehouses
2939 Norfolk Mesa, AZ 85215-1132
Entity Owned
16-yr Hold
Free & Clear
Property ID
US07-0380922
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
2004
Construction
CONCRETE
Total area
4,000 SF
Lot
0.46 ac (19,922 SF)
Zoning code
LI
APN
141-25-144
UPID
US07-0380922
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
-
Touch Up Pro - Mobile Body Shop Auto Repair Shop
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.13M
Blend (final)
Blend
$1.13M
Owner & transaction history
Ftas Legacy IV LLC · 16 yrs held
Ftas Legacy IV LLC
since 2010
7 recorded transactions
Zoning & alternative use
LI · Mesa, AZ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$1.8M
+160.7%
Neighborhood: shopping center
$1.2M
+84.2%
Retail stores
$1.1M
+55.1%
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
WAREHOUSE, STORAGE
$675,000
Current use
AUTO REPAIR, GARAGE
$1,765,000
Change: +161% · Conversion: Easy
NEIGHBORHOOD: SHOPPING CENTER
$1,245,000
Change: +84% · Conversion: Moderate
RETAIL STORES
$1,050,000
Change: +55% · Conversion: Moderate
MEDICAL BUILDING
$1,050,000
Change: +55% · Conversion: Difficult
Blend value · Realmo final
$1.13M
Range $1.01M – $1.24M · ±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
$281 / 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
$7,884
Tax year 2023
Assessed value
$111,705
Assessed 2024
Previous assessed
$102,272
+9.2% YoY
Effective rate
7.06%
On assessed value
Land market value
$186,700
Improvement market value
$490,300
Total market value
$677,000
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
2004
Construction
CONCRETE
Heating
PACKAGE
Cooling
YES
Stories
1
Total area
4,000 SF
Lot
0.46 ac (19,922 SF)
Zoning code
LI
APN
141-25-144
UPID
US07-0380922
Jurisdiction
MARICOPA
Zoning & alternative use
LI · Mesa, AZ
Zoning LI · permitted uses
LI · 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
WAREHOUSE, STORAGE Current
Est. value
$675,000
AUTO REPAIR, GARAGE
Est. value
$1.8M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.2M
RETAIL STORES
Est. value
$1.1M
MEDICAL BUILDING
Est. value
$1.1M
WAREHOUSE, STORAGE Current
AUTO REPAIR, GARAGE
NEIGHBORHOOD: SHOPPING CENTER
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
2004
Construction
CONCRETE
Heating
PACKAGE
Cooling
Yes
Stories
1
Lot
0.46 ac
Current owner
From public records · entity-resolved
Ftas Legacy IV LLC
Entity
Free & Clear · 16 yrs held
Mailing address
PO BOX 21835, MESA, AZ 85277-1835
Ownership since
2010
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
Oct 9, 2025
—
Commons Building II LLC
—
Deed
related
$1,000,000 · Firstbank
Jul 14, 2010
$600,000
Ftas Legacy IV LLC
Farrell Michael J
Trustees Deed
—
Jun 9, 2005
$956,500
Manstone Countertops LLC
Viewpoint Resort Lc
Grant Deed
$950,800 · National Bank Arizona
Oct 25, 2004
$2,600,000
Viewpoint Resort Lc
Jcsmm Devco Lc
Grant Deed
—
Apr 10, 2002
$980,820
Tr,jcsmm Devco Lc
Travellers Const Co Lc Psp
Grant Deed
related
$980,822 · Travellers Const Co Lc Psp
—
—
Commons Building II LLC
—
Deed Of Trust
related
$1,000,000 · Ftas Legacy IV LLC
—
—
Commons Building II LLC
—
Deed Of Trust
related
$1,000,000 · Ftas Legacy IV LLC
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 2939 Norfolk?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
