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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    5602 Mckellips Rd Mesa, AZ 85215-2738

    • Strip malls
    • 2,970 SF
    • 1.34 lot acres
    OFF-MARKET
    Value Estimations
    $1,575,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US07-1045124
    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

    • U-Haul Neighborhood Dealer / Trailer Rental Service / Truck Rental Agency
    • D & T Golf Cars / Repair Service / Golf Cart Dealer

    Property Details for 5602 Mckellips Rd

    Year built
    1973
    Construction
    CONCRETE
    Lot size
    1.34 lot acres
    Property size
    2,970 SF
    Zone code
    LC
    Property type
    Strip malls
    Property subtype
    Neighborhood centers
    APN
    141-43-003N
    APU
    14143003N

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,637,000
      Market price range: $395k - $1.95M
      AI Estimate
      $1,510,000
      Market price range: $395k - $1.82M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $1,905,000
      AUTO REPAIR, GARAGE
      $1,310,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Mesa
    County
    Maricopa
    State
    Arizona
    Longitude
    -111.71
    Latitude
    33.4524
    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
    $10,744
    $0.00
    $0.00
    $178,667
    -
    $686,100
    $396,729
    $1,082,829

    Comparable in this City

    • Value Estimation
      $2,460,000
      9,100 SF

      2015 Power Rd

      SHOPPING CENTER, STRIP CENTER • 9,100 SF
      2015 Power Rd, Mesa, AZ 85215-2906
      View Details
    • Value Estimation
      $2,350,000
      13,495 SF

      5901 Mckellips Rd

      SHOPPING CENTER, STRIP CENTER • 13,495 SF
      5901 Mckellips Rd, Mesa, AZ 85215-2700
      View Details
    • Value Estimation
      $3,105,000
      4,882 SF

      4405 Mckellips Rd

      SHOPPING CENTER, STRIP CENTER • 4,882 SF
      4405 Mckellips Rd, Mesa, AZ 85215-2559
      View Details
    • Value Estimation
      $6,545,000
      19,600 SF

      2837 Power Rd

      SHOPPING CENTER, STRIP CENTER • 19,600 SF
      2837 Power Rd, Mesa, AZ 85215-1733
      View Details
    • Value Estimation
      $2,390,000
      6,222 SF

      2119 Power Rd

      SHOPPING CENTER, STRIP CENTER • 6,222 SF
      2119 Power Rd, Mesa, AZ 85215-2937
      View Details
    • Value Estimation
      $1,695,000
      11,764 SF

      5943 Mckellips Rd Ste, Unit 101

      SHOPPING CENTER, STRIP CENTER • 11,764 SF
      5943 Mckellips Rd Ste, Mesa, AZ 85215-2790
      View Details

    Similar Nearby for Sale

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      130,577 SF

      Retail Space in Mesa Center

      Retail shop space for lease in North Mesa shopping center.
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      Freestanding Retail Property Available

      Freestanding retail property, formerly a CVS, available for sale.
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      Renovated Home in 55+ Community

      Move-in ready, 2 bed, 2 bath home in gated community.
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      Mesa 55+ Community Townhome

      Comfortable single-level townhome in a vibrant 55+ Mesa community.
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      Falcon Field Runways Access

      Office building with direct access to Falcon Field runways.
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      4.9 acres of commercial land with excellent Loop 202 frontage.
      56Th St, Mesa, AZ 85215
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    Similar Nearby for Lease

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      2,937 SF

      Mesa Retail Space For Rent

      Retail space available in Mesa's Red Mountain Gateway.
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      1,980 SF

      Mesa Retail Space Available

      Retail space in high-income Mesa neighborhood near Loop-202.
      2733 N Power Rd, Mesa, AZ 85215
      View Details
    • Contact for pricing
      2,223 SF

      Falcon Gateway Plaza Retail Shops

      Prime Retail Space, Multiple Units Available
      0 Sec Mckellips Rd & Greenfield Rd, Mesa, AZ 85215
      View Details
    • Contact for pricing
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      Mesa Retail Space For Rent

      Retail space with abundant parking and excellent visibility available for rent.
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    • Contact for pricing
      17,397 SF

      Mesa Retail Space - 17,397 SF

      Prime Mesa retail space, single tenant, high visibility.
      5833 Recker Rd & Mckellips Rd, Mesa, AZ 85215
      View Details
    • Contact for pricing
      11,415 SF

      Mesa Retail Space Available

      Retail space in Mesa with high traffic and strong demographics.
      2807 N Power Rd, Mesa, AZ 85215
      View Details
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    5602 Mckellips Rd
    Mesa, AZ 85215-2738
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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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