1242 W University Dr, Mesa, AZ 85201

Retail · Mesa · Phoenix metro, AZ

One of 2,288 reachable retail buildings in Mesa. Larger than 23% of retail buildings in Mesa (median 5,211 SF), derived from assessor records.

County gross building area
2,682 SF, Maricopa County Assessor
Lot size
16,881 SF, Maricopa County Assessor
Year built
1984, Maricopa County Assessor
Stories
1, Maricopa County Assessor
Predominant use
Beverages/Prepared Food/No Kitchen, Maricopa County Assessor
Assessed value
$593,657, per the Maricopa County Assessor (not a market appraisal)
Assessed value per building SF
$221.35/SF, derived from assessor records
Building area / lot
0.16, derived from assessor records
Vintage
1980s vintage
County use code
BEVERAGES/PREPARED FOOD/NO KITCHEN

Nearby comparable buildings

Same building type, by distance. Assessor facts only; not an opinion of value.

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Sale history and market context

MakeMe Estimate: $819K (estimated market value), with a likely range of $655K to $972K (half of recent verified sales in this segment landed inside that range). Computed as the county's full cash value of $593,657 times a 1.38 market ratio, measured from 3891 verified arm's-length sale prices vs county values (retail sales in Mesa, through 2026-06-29). Not an appraisal. How this estimate works.

lower confidence: 31 comparable sales within 3 miles; nearest 0.6 mi. This property type carries wider measured error; treat the estimate as a starting point. Last arm's-length sale: $1,475,000 in 2022. The market has moved since; the estimate reflects current county values and ratios, not that price.

Comparable sales used as evidence

Recorded arm's-length sales of similar buildings nearby; nearer and more recent sales rank first. The strongest 5 of 31 nearby verified sales are shown. Buyer and seller names are withheld. Get this data via API.

Market context: Retail in Mesa

median verified sale $268.13/SF over the trailing 24 months; 54 sales in the last 12 months and 111 in 24 (newest verified sale 2026-04); the middle 80% of recent sales traded at 0.80x to 2.41x their county full cash value, median 1.38x (109 sales with usable county values).

  • 2022: $302.66/SF median (54 sales)
  • 2023: $217.71/SF median (43 sales)
  • 2024: $243.31/SF median (45 sales)
  • 2025: $288.31/SF median (61 sales)
  • 2026 YTD: $261.64/SF median (12 sales)

This estimate sits at 1.38x county full cash value, the 50th percentile of those recent sale premiums.

Computed from 849 verified arm's-length sales in Maricopa County public records (111 in the trailing 24 months). Free public records. Not an appraisal.

Last sold: 2022-07-01 for $1,475,000 (recorded arm's-length sale).

Current ownership dates to 2022 (about 4 years) per recorded transfers.

Source: Maricopa County recorded sales extract; buyer and seller shown only when a company or organization. Individual names are withheld.

Value over time

$0$250K$500K$750K$1M20262027$819K$594KCounty assessed valueMakeMe Estimate range

Dark line: county assessed value per Maricopa County tax rolls. Blue line: our estimate; dashed years are a modeled backcast built from recorded arm's-length sales in the building's segment, not estimates published at the time, and years without enough sales stay unmodeled. The shaded range is the model's measured error band; about half of verified sales in the segment land inside it. Diamonds: recorded arm's-length sales. Not an appraisal. How this estimate works.

Land, site, and value history

Assessed value moved from $586,653 (2026) to $593,657 (2027), up 1% over 1 years, per county tax rolls. The 2027 roll splits $593,657 into $302,300 land and $291,357 improvements.