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Property profile & analytics
OFF-MARKET
Estimated value
$48,675,000
Specialty properties
2990 Power Rd Mesa, AZ 85212-3001
Individually Owned
22-yr Hold
Free & Clear
Property ID
US07-1052281
Property profile
Verified
Property type
Specialty properties
Use group
PROFESSIONAL CLUBS/ASSOCIATIONS
Year built
2003
Construction
STEEL FRAME
Total area
2,928 SF
Lot
16.16 ac (703,886 SF)
Zoning code
MF/M
APN
304-16-004D
UPID
US07-1052281
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
-
The Groves Apartment Complex
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$50.59M
Blend (final)
Blend
$48.68M
Owner & transaction history
IB HUNT GROVES L P WESTERN
IB HUNT GROVES L P WESTERN
Zoning & alternative use
MF/M · Mesa, AZ
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
Blend value · Realmo final
$48.68M
Range $43.81M – $53.54M · ±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
$16,624 / 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
$196,521
Tax year 2023
Assessed value
$3,969,850
Assessed 2024
Previous assessed
$3,110,170
+27.6% YoY
Effective rate
4.95%
On assessed value
Land market value
$7,939,700
Improvement market value
$31,758,800
Total market value
$39,698,500
Applied tax rate
410,609.0000
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
Specialty properties
Use group
PROFESSIONAL CLUBS/ASSOCIATIONS
Status
Off-Market
Year built
2003
Construction
STEEL FRAME
Heating
PACKAGE
Cooling
YES
Buildings
27
Stories
1
Units
18
Total area
2,928 SF
Lot
16.16 ac (703,886 SF)
Zoning code
MF/M
APN
304-16-004D
UPID
US07-1052281
Jurisdiction
MARICOPA
Zoning & alternative use
MF/M · Mesa, AZZoning MF/M · permitted uses
MF/M · Mesa, AZ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Source
code of ordinances
Building & site characteristics
From public records
Year built
2003
Construction
STEEL FRAME
Heating
PACKAGE
Cooling
Yes
Stories
1
Buildings
27
Units
18
Lot
16.16 ac
Current owner
From public records · entity-resolved
IB HUNT GROVES L P WESTERN
Individual
Free & Clear · 0 yrs held
Mailing address
PO BOX 4900, SCOTTSDALE, AZ 85261-4900
Ownership since
—
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
No recorded transactions
No recorded transactions found for this property.
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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