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    Property profile & analytics

    3622 Southern Ave Mesa, AZ 85206-2504

    • Grocery and convenience stores
    • 54,969 SF
    • 4.88 lot acres
    OFF-MARKET
    Value Estimations
    $8,365,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US07-0281824
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Safeway Pharmacy / Pharmacy
    • Safeway / Bakery / Specialty Food Shop
    • ATM U.S. Bank E. Southern Ave - Safeway / Bank / Loan Service
    • Starbucks / Cafe & Coffee Shop
    • Primo Water Refill & Exchange / Big Box & Wholesale Store

    Property Details for 3622 Southern Ave

    Year built
    1999
    Construction
    CONCRETE
    Lot size
    4.88 lot acres
    Property size
    54,969 SF
    Zone code
    LC
    Property type
    Grocery and convenience stores
    APN
    140-47-376
    APU
    14047376

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $8,370,000
      Market price range: $6.67M - $25.4M
      AI Estimate
      $8,358,000
      Market price range: $6.67M - $25.4M

    • Alternative Use

      Use
      Estimation
      MEDICAL BUILDING
      $13,010,000

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Mesa
    County
    Maricopa
    State
    Arizona
    Longitude
    -111.752
    Latitude
    33.3948
    CBSA code
    38060
    CBSA name
    PHOENIX-MESA-SCOTTSDALE, AZ METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $97,471
    $0.00
    $0.00
    $1,062,122
    -
    $1,719,300
    $4,717,800
    $6,437,100

    Comparable in this City

    • Value Estimation
      $1,905,000
      3,560 SF

      1203 Power Rd

      CONVENIENCE STORE • 3,560 SF
      1203 Power Rd, Mesa, AZ 85206-3701
      View Details
    • Value Estimation
      $1,295,000
      2,427 SF

      6761 Baseline Rd

      CONVENIENCE STORE • 2,427 SF
      6761 Baseline Rd, Mesa, AZ 85206-4327
      View Details
    • Value Estimation
      $1,075,000
      2,016 SF

      4360 Broadway Rd

      CONVENIENCE STORE • 2,016 SF
      4360 Broadway Rd, Mesa, AZ 85206-1908
      View Details
    • Value Estimation
      $3,035,000
      5,680 SF

      1733 Greenfield Rd

      CONVENIENCE STORE • 5,680 SF
      1733 Greenfield Rd, Mesa, AZ 85206-3481
      View Details
    • Value Estimation by Request
      4,612 SF

      1959 Greenfield Rd

      CONVENIENCE STORE • 4,612 SF
      1959 Greenfield Rd, Mesa, AZ 85206-3900
      View Details
    • Value Estimation by Request
      30,033 SF

      5225 Southern Ave

      GROCERY, SUPERMARKET • 30,033 SF
      5225 Southern Ave, Mesa, AZ 85206-2777
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      5,048 SF

      Mesa Retail NNN Investment Opportunity

      NNN leased retail property in Mesa, Arizona for sale.
      430 N Power Rd, Mesa, AZ 85206
      View Details
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      Retail Space in Mesa Plaza

      Retail space available in Albertson's anchored shopping center.
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      155,254 SF

      Macy's Anchor Redevelopment Opportunity

      155,254 SF Retail Space, Mesa, AZ
      6535 Southern Ave, Mesa, AZ 85206
      View Details
    • $4,150,000
      23,484 SF

      Mesa Retail Property For Sale

      Retail property occupied by OfficeMax, located in Mesa, Arizona.
      6631 E Southern Ave, Mesa, AZ 85206
      View Details
    • Contact for pricing

      Mesa Restaurant End Cap Opportunity

      High-visibility restaurant space with patio and take-out option in Mesa.
      6736 E Baseline Rd, Mesa, AZ 85206
      View Details
    • $4,150,000

      OfficeMax Net-Leased Investment Opportunity

      Single-tenant OfficeMax property in a high-traffic Mesa corridor.
      6631 E Southern Ave, Mesa, AZ 85206
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      1,425 SF

      Retail Space on Power Road

      Retail space available with high visibility and traffic.
      344 S Power Rd, Mesa, AZ 85206
      View Details
    • Contact for pricing
      1,450 SF

      Retail Space Near Supercenter

      Retail space available near Superstition Freeway and Walmart Supercenter.
      1766 S Greenfield Rd, Mesa, AZ 85206
      View Details
    • Contact for pricing
      13,012 SF

      Mesa Retail Space Available

      Retail space available in a dense East Valley trade area.
      6341 E Southern Ave, Mesa, AZ 85206
      View Details
    • Contact for pricing
      3,981 SF

      Retail Space Near Superstition Springs

      Retail space in Mesa with high traffic and visibility.
      1155 S Power Rd, Mesa, AZ 85206
      View Details
    • Contact for pricing
      1,322 SF

      Mesa Retail Pad Opportunities Available

      Retail spaces for ground lease or build to suit in Mesa.
      3617-3701 E Southern Ave, Mesa, AZ 85206
      View Details
    • Contact for pricing
      5,780 SF

      Mesa Restaurant Outparcel - 5,780 SF

      Prime Mesa restaurant space, 1.15 acres, high traffic.
      6455 Southern Ave, Mesa, AZ 85206
      View Details

    Property Visit Statistics

    • Visits by month
      70.4k
    • Visitors by month
      34.2k
    • Avg Time on site
      20 min
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    3622 Southern Ave
    Mesa, AZ 85206-2504
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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