Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    640 Mckellips Rd Mesa, AZ 85201-1208

    • Warehouses
    • 14,003 SF
    • 1.28 lot acres
    OFF-MARKET
    Value Estimations
    $2,260,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US07-1056326
    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

    • Restaurant Equipment Hunter / Big Box & Wholesale Store
    • Lorenzo Marble & Granite / Building Supply / Hardware & Home Improvement
    • Industrial Pipe and Valve / Big Box & Wholesale Store
    • Mackey's Trailers / Car Dealership
    • Alpha Base / Charitable Organization / Social Service Agency

    Property Details for 640 Mckellips Rd

    Year built
    1974
    Construction
    STEEL FRAME
    Lot size
    1.28 lot acres
    Property size
    14,003 SF
    Zone code
    LI
    Property type
    Warehouses
    APN
    135-01-003M
    APU
    13501003M

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $2,266,000
      Market price range: $1.18M - $5.01M
      AI Estimate
      $2,251,000
      Market price range: $1.16M - $4.83M

    • Alternative Use

      Use
      Estimation
      WAREHOUSE, STORAGE
      $2,365,000
      Current use
      MEDICAL BUILDING
      $3,670,000
      Change: +55% Conversion: Difficult
      OFFICE BUILDING
      $3,105,000
      Change: +31% Conversion: Difficult
      RETAIL STORES
      $2,855,000
      Change: +21% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Mesa
    County
    Maricopa
    State
    Arizona
    Longitude
    -111.845
    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
    $8,503
    $0.00
    $0.00
    $224,565
    -
    $316,900
    $1,044,100
    $1,361,000

    Comparable in this City

    • Value Estimation by Request
      3,070 SF

      Mesa, AZ 85201

      WAREHOUSE, STORAGE • 3,070 SF
      Mesa, AZ 85201
      View Details
    • Value Estimation
      $20,870,000
      68,944 SF

      219 Mckellips Rd

      MINI-WAREHOUSE, STORAGE • 68,944 SF
      219 Mckellips Rd, Mesa, AZ 85201-1607
      View Details
    • Value Estimation by Request
      5,100 SF

      55 Pomeroy, Unit 3

      WAREHOUSE, STORAGE • 5,100 SF
      55 Pomeroy, Mesa, AZ 85201
      View Details
    • Value Estimation
      $6,150,000
      17,500 SF

      2225 Main St

      WAREHOUSE, STORAGE • 17,500 SF
      2225 Main St, Mesa, AZ 85201-6826
      View Details
    • Value Estimation
      $1,460,000
      5,248 SF

      206 Main St

      WAREHOUSE, STORAGE • 5,248 SF
      206 Main St, Mesa, AZ 85201-7410
      View Details
    • Value Estimation by Request
      985 SF

      2255 Main St

      WAREHOUSE, STORAGE • 985 SF
      2255 Main St, Mesa, AZ 85201-6805
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Secured Yard with Renovated Office

      Contractor yard with renovated office, fully fenced and secured.
      2555 N Center St, Mesa, AZ 85201
      View Details
    • $3,075,000

      Downtown Mesa Building For Sale

      Redevelopment opportunity in the heart of Downtown Mesa, Arizona.
      137 W Main St, Mesa, AZ 85201
      View Details
    • Contact for pricing
      15,012 SF

      Freestanding Retail Properties in Metro Areas

      Retail properties in high-visibility locations across the US.
      1202 W University Dr, Mesa, AZ 85201
      View Details
    • $450,000
      1,532 SF

      Freestanding Building Near Freeways

      Freestanding building with RM-4 zoning, suitable for various commercial uses.
      506 W University Dr, Mesa, AZ 85201
      View Details
    • Contact for pricing

      Mesa Land Parcel For Sale

      2-acre lot in Mesa, near Loop 202.
      509 W Mckellips Rd, Mesa, AZ 85201
      View Details
    • $699,000
      3,220 SF

      Freestanding Retail/Office Building on Main

      3,220 SF retail/office building with high visibility on Main Street.
      955 E Main St, Mesa, AZ 85201
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      6,273 SF

      Mesa Contractor Yard with Office

      Renovated office and secured yard near Loop 202.
      2405 N Center St, Mesa, AZ 85201
      View Details
    • Contact for pricing

      AZ, Mesa- W Brown Rd

      Discover many ways to work your way in AZ, Mesa- W Brown Rd
      560 Brown Rd, Mesa, AZ 85201
      View Details
    • Contact for pricing

      Versatile Workspace Solutions Available

      Flexible office spaces, coworking, meeting rooms, and virtual office options.
      560 W Brown Rd, Mesa, AZ 85201
      View Details
    • Contact for pricing

      Office Space For Lease

      Office space available for lease in Mesa, Arizona.
      460 N Mesa Dr, Mesa, AZ 85201
      View Details
    • Contact for pricing
      1,938 SF

      Retail Space Anchored by Dollar General

      Retail space in established neighborhood, anchored by Dollar General.
      318 E Brown Rd, Mesa, AZ 85201
      View Details
    • Contact for pricing

      Commercial Land Near Auto Mall

      40 acres of commercial land near future auto mall.
      11129 E Ulysses Ave, Mesa, AZ 85201
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    640 Mckellips Rd
    Mesa, AZ 85201-1208
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!