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Property profile & analytics
OFF-MARKET
Estimated value
$1,415,000
Grocery and convenience stores
401 Ellsworth Rd Mesa, AZ 85208-2305
Individually Owned
29-yr Hold
~
Est. High Equity
Property ID
US07-2848078
Property profile
Verified
Property type
Grocery and convenience stores
Use group
CONVENIENCE STORE
Year built
1997
Construction
CONCRETE
Total area
3,341 SF
Lot
0.93 ac (40,603 SF)
Zoning code
C-2
APN
220-70-001G
UPID
US07-2848078
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
-
Circle K Grocery & Convenience Store
-
Redbox Cinema (Bike/Boat/Book/etc) Store
-
Amazon Locker - Toga Postal Service Courier Service
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.42M
Blend (final)
Blend
$1.42M
Owner & transaction history
Jamestown,funding L P · 29 yrs held
Jamestown,funding L P
since 1997
3 recorded transactions
Zoning & alternative use
C-2 · Mesa, AZ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Source
code of ordinances
Top alternative use upside
Commercial (general)
$2.1M
+106.0%
Auto repair, garage
$1.5M
+41.5%
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
NEIGHBORHOOD: SHOPPING CENTER
$1,040,000
Current use
COMMERCIAL (GENERAL)
$2,145,000
Change: +106% · Conversion: Easy
AUTO REPAIR, GARAGE
$1,470,000
Change: +41% · Conversion: Difficult
RETAIL STORES
$875,000
Change: -16% · Conversion: Easy
MEDICAL BUILDING
$875,000
Change: -16% · Conversion: Difficult
Blend value · Realmo final
$1.42M
Range $1.27M – $1.56M · ±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
$424 / 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 2022Property tax & assessments
Tax year 2022
Tax billed
$18,537
Tax year 2022
Assessed value
$173,630
Assessed 2024
Previous assessed
$152,864
+13.6% YoY
Effective rate
10.68%
On assessed value
Land market value
$553,400
Improvement market value
$498,900
Total market value
$1,052,300
Applied tax rate
40,012.0000
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
CONVENIENCE STORE
Status
Off-Market
Year built
1997
Construction
CONCRETE
Heating
PACKAGE
Cooling
YES
Buildings
2
Stories
1
Total area
3,341 SF
Lot
0.93 ac (40,603 SF)
Zoning code
C-2
APN
220-70-001G
UPID
US07-2848078
Jurisdiction
MARICOPA
Zoning & alternative use
C-2 · Mesa, AZZoning C-2 · permitted uses
C-2 · Mesa, AZ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Source
code of ordinances
Alternative use value scenarios
Repositioning upside vs current use
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$1.0M
COMMERCIAL (GENERAL)
Est. value
$2.1M
AUTO REPAIR, GARAGE
Est. value
$1.5M
RETAIL STORES
Est. value
$875,000
MEDICAL BUILDING
Est. value
$875,000
NEIGHBORHOOD: SHOPPING CENTER Current
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
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
1997
Construction
CONCRETE
Heating
PACKAGE
Cooling
Yes
Stories
1
Buildings
2
Lot
0.93 ac
Current owner
From public records · entity-resolved
Jamestown,funding L P
Individual
Mailing address
PO BOX 52085, PHOENIX, AZ 85072-2085
Ownership since
1997
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 14, 1997
$350,000
Jamestown,funding L P
Virginia M Erwin
Trustees Deed
related
$96,300,000 · Chase Manhattan Bank
Nov 24, 1989
—
C D Broadway
Barkdoll
Grant Deed
related
—
—
—
Maricopa County
—
Deed Of Trust
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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