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Property profile & analytics
OFF-MARKET
Estimated value
$620,000
Grocery and convenience stores
812 University Dr Mesa, AZ 85203-8033
Entity Owned
8-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US07-2670326
Property profile
Verified
Property type
Grocery and convenience stores
Use group
CONVENIENCE STORE
Year built
1976
Construction
CONCRETE
Total area
1,711 SF
Lot
0.55 ac (24,039 SF)
Zoning code
NC
APN
137-06-093D
UPID
US07-2670326
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
-
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$622k
Blend (final)
Blend
$620k
Owner & transaction history
Elsas Market LLC · 8 yrs held
Elsas Market LLC
since 2018
7 recorded transactions
Zoning & alternative use
NC · Mesa, AZ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
Neighborhood Commercial (NC). To provide areas for locally oriented retail and service uses that serve the surrounding residential trade area within a 1⁄2 to two (2) mile radius. Typical uses include, but are not limited to retail stores, grocery stores and anchored shopping centers, drug stores, restaurants and cafes, gas stations, and convenience stores. O…
Zone name
Neighborhood Commercial
General category
COMMERCIAL
Zone area
282.86 ac
Source
code of ordinances
Top alternative use upside
Auto repair, garage
$755,000
+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
$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
Blend value · Realmo final
$620k
Range $558k – $682k · ±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
$362 / 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
$4,903
Tax year 2023
Assessed value
$76,245
Assessed 2024
Previous assessed
$76,245
+0.0% YoY
Effective rate
6.43%
On assessed value
Land market value
$313,100
Improvement market value
$148,990
Total market value
$462,090
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
Grocery and convenience stores
Use group
CONVENIENCE STORE
Status
Off-Market
Year built
1976
Construction
CONCRETE
Heating
HEAT PUMP
Stories
1
Total area
1,711 SF
Lot
0.55 ac (24,039 SF)
Zoning code
NC
APN
137-06-093D
UPID
US07-2670326
Jurisdiction
MARICOPA
Zoning & alternative use
NC · Mesa, AZZoning NC · permitted uses
NC · Mesa, AZ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
Neighborhood Commercial (NC). To provide areas for locally oriented retail and service uses that serve the surrounding residential trade area within a 1⁄2 to two (2) mile radius. Typical uses include, but are not limited to retail stores, grocery stores and anchored shopping centers, drug stores, restaurants and cafes, gas stations, and convenience stores. Other compatible uses include small-scale medical and professional offices, personal services, as well as public and semi-public uses. Large commercial development buildings are not appropriate in the Neighborhood Commercial District. 2.
Zone name
Neighborhood Commercial
General category
COMMERCIAL
Zone area
282.86 ac
Source
code of ordinances
Alternative use value scenarios
Repositioning upside vs current use
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$535,000
AUTO REPAIR, GARAGE
Est. value
$755,000
RETAIL STORES
Est. value
$450,000
MEDICAL BUILDING
Est. value
$450,000
NEIGHBORHOOD: SHOPPING CENTER Current
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
1976
Construction
CONCRETE
Heating
HEAT PUMP
Stories
1
Lot
0.55 ac
Current owner
From public records · entity-resolved
Elsas Market LLC
Entity
Mailing address
401 N HORNE, MESA, AZ 85203-7122
Mailing matches property
Different — outreach signal
Owner-occupied
No
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
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 19, 2018
$285,000
Elsas Market LLC
Mccaughey Clyde Living Trust
Warranty Deed
—
Jun 19, 2018
—
Mccaughey,clyde Living Trust
Mccaughey,clyde
Affidavit Of Death
related
—
May 19, 2014
—
Mccaughey,clyde Living Trust
Mccaughey,clyde
Quit Claim Deed
related
—
Jun 17, 2011
—
Clyde Mccaughey
Johanneck,cody L
Quit Claim Deed
related
—
May 24, 2010
—
Cody L Johanneck
Mccaughey,clyde
Quit Claim Deed
related
—
Mar 15, 1995
$135,000
Clyde Mccaughey
Texaco Refining & Market
Grant Deed
$108,000
—
—
Clyde Mccaughey
—
Deed Of Trust
related
$300,000 · Frontier Bank
—
—
Clyde Mccaughey
—
Deed Of Trust
related
$92,000 · Frontier Bank
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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