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Property profile & analytics
OFF-MARKET
Estimated value
$1,180,000
Office buildings
840 University Dr Mesa, AZ 85201-5529
Entity Owned
1-yr Hold
~
Est. High Equity
Property ID
US07-1293911
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1973
Construction
CONCRETE
Total area
6,989 SF
Lot
0.52 ac (22,743 SF)
Zoning code
RM-4
APN
135-27-011B
UPID
US07-1293911
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
-
Gerald E. Martin Jr, DC Alternative Medicine Practice
-
Club Herbalife Yaqui's Nutrition.protein bar. Smoothie (Bike/Boat/Book/etc) Store Pharmacy
-
Delta Home Health Home Health Care Service
-
Jack T. Wheatley, DC Alternative Medicine Practice
-
Alan A. Barnes, DC Alternative Medicine Practice
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.55M
Comparable Approach
Comparable
$1.21M
Blend (final)
Blend
$1.18M
Owner & transaction history
Green Island Investments LLC · 1 yrs held
Green Island Investments LLC
since 2025
Last sale
$1.2M
5 recorded transactions
Zoning & alternative use
RM-4 · Mesa, AZ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$1.8M
+18.1%
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
$1,005,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$1,675,000
6.5%
$1,545,000
7%
$1,435,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$1,550,000
Current use
MEDICAL BUILDING
$1,830,000
Change: +18% · Conversion: Easy
RETAIL STORES
$1,425,000
Change: -8% · Conversion: Moderate
Blend value · Realmo final
$1.18M
Range $1.06M – $1.30M · ±10% · vs last sale $1.15M (Jan 29 2025)
Last sale anchor
$1.15M
Jan 29 2025
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
$169 / 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
$8,410
Tax year 2023
Assessed value
$149,457
Assessed 2024
Previous assessed
$128,622
+16.2% YoY
Effective rate
5.63%
On assessed value
Land market value
$360,800
Improvement market value
$545,000
Total market value
$905,800
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1973
Construction
CONCRETE
Heating
PACKAGE
Cooling
YES
Buildings
2
Stories
1
Units
2
Total area
6,989 SF
Lot
0.52 ac (22,743 SF)
Zoning code
RM-4
APN
135-27-011B
UPID
US07-1293911
Jurisdiction
MARICOPA
Zoning & alternative use
RM-4 · Mesa, AZ
Zoning RM-4 · permitted uses
RM-4 · 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
OFFICE BUILDING Current
Est. value
$1.6M
MEDICAL BUILDING
Est. value
$1.8M
RETAIL STORES
Est. value
$1.4M
OFFICE BUILDING Current
MEDICAL BUILDING
RETAIL STORES
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
1973
Construction
CONCRETE
Heating
PACKAGE
Cooling
Yes
Stories
1
Buildings
2
Units
2
Lot
0.52 ac
Current owner
From public records · entity-resolved
Green Island Investments LLC
Entity
Mailing address
3236 E KENWOOD ST, MESA, AZ 85213-3286
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 29, 2025
$1,150,000
Green Island Investments LLC
840 W University Dr LLC
Warranty Deed
$900,000 · 840 W University Dr LLC
Dec 18, 2023
$895,000
840 W University Dr LLC
Petunia Six LLC
Warranty Deed
$845,000 · Petunia Six LLC
Oct 12, 2023
$780,000
Petunia Six LLC
Gerald E Martin Family Lllp
Special Warranty Deed
—
Mar 8, 1999
—
Gerald E Martin Family Lllp
Martin Trust
Quit Claim Deed
related
—
—
—
Gerald E Martin Family Llllp
—
Deed Of Trust
related
$140,000 · Lisa L Carter
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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