New search
Property profile & analytics
OFF-MARKET
Estimated value
$3,805,000
Parking lots & garages
45 Southern Ave, Mesa, AZ 85210-5353
Individually Owned
7-yr Hold
~
Est. High Equity
Property ID
US07-3400664
Property profile
Verified
Property type
Parking lots & garages
Use group
PARKING GARAGE, PARKING STRUCTURE
Year built
1981
Construction
CONCRETE
Total area
8,850 SF
Lot
1 ac (43,734 SF)
Zoning code
GI
APN
139-48-004T
UPID
US07-3400664
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
-
Rhodium 45 Storage Facility Parking Lot & Garage
-
Inpro Corporation - Southwest Office Industrial Manufacturer Production Facility
-
Inpro Corporation Corporate Office Business Park
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$3.80M
Blend (final)
Blend
$3.81M
Owner & transaction history
Lawrence A Read · 7 yrs held
Lawrence A Read
since 2018
7 recorded transactions
Zoning & alternative use
GI · Mesa, AZ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$5.7M
+58.8%
Restaurant
$5.7M
+58.4%
Auto repair, garage
$3.9M
+9.0%
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
PARKING LOT
$3,575,000
Current use
COMMERCIAL (GENERAL)
$5,680,000
Change: +59% · Conversion: Difficult
RESTAURANT
$5,665,000
Change: +58% · Conversion: Difficult
AUTO REPAIR, GARAGE
$3,900,000
Change: +9% · Conversion: Difficult
Blend value · Realmo final
$3.81M
Range $3.42M – $4.19M · ±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
$430 / 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
$17,791
Tax year 2023
Assessed value
$314,061
Assessed 2024
Previous assessed
$265,625
+18.2% YoY
Effective rate
5.66%
On assessed value
Land market value
$443,900
Improvement market value
$1,459,500
Total market value
$1,903,400
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
Parking lots & garages
Use group
PARKING GARAGE, PARKING STRUCTURE
Status
Off-Market
Year built
1981
Construction
CONCRETE
Heating
PACKAGE
Cooling
YES
Buildings
2
Stories
1
Total area
8,850 SF
Lot
1 ac (43,734 SF)
Zoning code
GI
APN
139-48-004T
UPID
US07-3400664
Jurisdiction
MARICOPA
Zoning & alternative use
GI · Mesa, AZ
Zoning GI · permitted uses
GI · 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
PARKING LOT Current
Est. value
$3.6M
COMMERCIAL (GENERAL)
Est. value
$5.7M
RESTAURANT
Est. value
$5.7M
AUTO REPAIR, GARAGE
Est. value
$3.9M
PARKING LOT Current
COMMERCIAL (GENERAL)
RESTAURANT
AUTO REPAIR, GARAGE
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
1981
Construction
CONCRETE
Heating
PACKAGE
Cooling
Yes
Stories
1
Buildings
2
Lot
1 ac
Current owner
From public records · entity-resolved
Lawrence A Read
Individual
Mailing address
6519 E MALCOMB DR, PARADISE VALLEY, AZ 85253-5315
Ownership since
2018
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
13 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 14, 2018
$1,250,000
Lawrence A Read
English Creek LLC
Warranty Deed
—
Jul 18, 2011
$775,000
English Creek LLC
Dhb Real Estate LLC
Grant Deed
—
Oct 16, 2009
—
Dhb Real Estate LLC
Desert Hills Bk
Grant Deed
—
May 27, 2009
$1,248,534
Desert Hills Bk
Reynolds Scott
Trustees Deed
related
—
Aug 31, 2006
$1,700,000
Herhode Dev LLC
Exxl Corp
Grant Deed
$1,275,000 · Desert Hills Bank
Mar 12, 2004
$85,000
Exxl Corp
—
Trustees Deed
related
$450,000 · First National Bank Arizona
Jan 25, 2000
—
Exxl Corp
—
Grant Deed
related
$955,000 · Founders Bank Of Arizona
Aug 29, 1997
$337,246
Exxl Corp
Washburn Enterprises
Grant Deed
$340,000 · Bank Of Arizona
—
—
English Creek LLC
—
Deed Of Trust
related
$775,000 · Jp Morgan Chase Bk
—
—
Exxl Corp
—
Deed Of Trust
related
$1,000,000 · Founders Bank Of Arizona
—
—
Exxl Corp
—
Deed Of Trust
related
$500,000 · Bank Of Arizona
—
—
Exxl Corp
—
Deed Of Trust
related
$500,000 · First National Bank Arizona
—
—
Exxl Corp
—
Deed Of Trust
related
$400,000 · Founders Bank Of Arizona
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 45 Southern Ave?
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.
