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    812 University Dr Mesa, AZ 85203-8033
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    812 University Dr Mesa, AZ 85203-8033

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    • Grocery and convenience stores
    • 1,711 SF
    • 0.55 lot acres
    Off-Market
    Property ID
    US07-2670326
    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.
    Value Estimations
    $620,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Primo Water Refill / Big Box & Wholesale Store
    • Athena Bitcoin ATM / Crypto Atm / Atm
    • Bitcoin of America ATM / Atm
    • Elsa's Foodmart / Grocery & Convenience Store / Food Market
    • La Carreta Del Percheron / Restaurant

    Property Details for 812 University Dr

    Year built
    1976
    Construction
    CONCRETE
    Lot size
    0.55 lot acres
    Property size
    1,711 SF
    Zone code
    NC
    Property type
    Grocery and convenience stores
    APN
    137-06-093D
    APU
    13706093D

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $621,000
      Market price range: $432k - $914k
      AI Estimate
      $621,000
      Market price range: $432k - $914k

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $535,000
      Current use
      AUTO REPAIR, GARAGE
      $755,000
      Change: +41% Conversion: Difficult
      RETAIL STORES
      $450,000
      Change: -16% Conversion: Easy
      MEDICAL BUILDING
      $450,000
      Change: -16% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Mesa
    County
    Maricopa
    State
    Arizona
    Longitude
    -111.814
    Latitude
    33.4227
    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
    $4,903
    $0.00
    $0.00
    $76,245
    -
    $313,100
    $148,990
    $462,090

    Comparable in this City

    • Value Estimation
      $1,570,000
      2,941 SF

      1951 Brown Rd

      CONVENIENCE STORE • 2,941 SF
      1951 Brown Rd, Mesa, AZ 85203-5134
      View Details
    • Value Estimation
      $13,390,000
      110,386 SF

      1935 Stapley Dr

      GROCERY, SUPERMARKET • 110,386 SF
      1935 Stapley Dr, Mesa, AZ 85203-2749
      View Details
    • Value Estimation
      $1,060,000
      3,280 SF

      808 Mckellips Rd

      CONVENIENCE STORE • 3,280 SF
      808 Mckellips Rd, Mesa, AZ 85203-9618
      View Details
    • Value Estimation
      $9,185,000
      39,690 SF

      730 Mckellips Rd

      GROCERY, SUPERMARKET • 39,690 SF
      730 Mckellips Rd, Mesa, AZ 85203-2537
      View Details
    • Value Estimation
      $1,730,000
      4,046 SF

      415 Mckellips Rd

      CONVENIENCE STORE • 4,046 SF
      415 Mckellips Rd, Mesa, AZ 85203-2530
      View Details
    • Value Estimation
      $910,000
      2,531 SF

      1955 Mckellips Rd

      CONVENIENCE STORE • 2,531 SF
      1955 Mckellips Rd, Mesa, AZ 85203-2865
      View Details

    Similar Nearby for Sale

    • $2,900,000

      Former Retail Store Available

      Former 99 Cents Only Store available for sale.
      2009 N Stapley Dr, Mesa, AZ 85203
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      13,969 SF

      Mesa Retail Building For Sale

      Retail building with high visibility and ample parking.
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      13,050 SF

      Mesa Retail Property For Sale

      Freeway-accessible retail property with drive-through and high traffic volume.
      1151 E Mckellips Rd, Mesa, AZ 85203
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      32,702 SF

      Mesa Retail Redevelopment Opportunity

      Value-add retail property on 1.58 acres, prime for redevelopment.
      903-933 E Main St, Mesa, AZ 85203
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    • Contact for pricing
      24,568 SF

      Fitness Anchored Shopping Center For Sale

      100% occupied shopping center with below market rents.
      425-515 N Stapley Dr, Mesa, AZ 85203
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    • $3,499,999

      Former CVS on Hard Corner

      Freestanding building on a hard corner available for sale/lease.
      1151 E Mckellips Rd, Mesa, AZ 85203
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    Similar Nearby for Lease

    • Contact for pricing
      3,010 SF

      Retail Space Near Light Rail

      Fry’s anchored shopping center with high visibility and traffic.
      1201 W Main St, Mesa, AZ 85203
      View Details
    • Contact for pricing
      1,309 SF

      Retail Space in Mesa Center

      Retail space in a high-density Mesa shopping center.
      1229 E Mckellips Rd, Mesa, AZ 85203
      View Details
    • Contact for pricing
      3,010 SF

      Retail Space in Fry's Center

      Retail space available in Fry’s anchored shopping center.
      1305 W Main St, Mesa, AZ 85203
      View Details
    • Contact for pricing
      1,210 SF

      Mesa Retail Space For Lease

      Retail space available in high-traffic Mesa location.
      4425-4565 E Mckellips Rd, Mesa, AZ 85203
      View Details
    • Contact for pricing
      1,734 SF

      Retail Space in Fry's Center

      In-line retail space in busy shopping center for rent.
      1239 E Mckellips Rd, Mesa, AZ 85203
      View Details
    • Contact for pricing
      1,017 SF

      Mesa Retail Space Available

      Retail space available for lease in Mesa, Arizona.
      1437 E Main St, Mesa, AZ 85203
      View Details
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    812 University Dr
    Mesa, AZ 85203-8033
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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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