1940 E University Dr, Mesa, AZ 85203

Retail · Mesa · Phoenix metro, AZ

One of 2,288 reachable retail buildings in Mesa. Larger than 78% of retail buildings in Mesa (median 5,211 SF), derived from assessor records.

County gross building area
13,618 SF, Maricopa County Assessor
Lot size
33,971 SF, Maricopa County Assessor
Year built
2004, Maricopa County Assessor
Stories
1, Maricopa County Assessor
Buildings on parcel
2, Maricopa County Assessor
Predominant use
Neighborhood Shopping Center, Maricopa County Assessor
Assessed value
$2,171,022, per the Maricopa County Assessor (not a market appraisal)
Assessed value per building SF
$159.42/SF, derived from assessor records
Building area / lot
0.4, derived from assessor records
Vintage
2000s vintage
County use code
NEIGHBORHOOD SHOPPING CENTER

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: $3M (estimated market value), with a likely range of $2.39M to $3.55M (half of recent verified sales in this segment landed inside that range). Computed as the county's full cash value of $2,171,022 times a 1.38 market ratio, measured from 213 retail sales in Mesa within a 3,891-sale countywide calibration (since 2022-01, through 2026-06-29). Not an appraisal. How this estimate works.

lower confidence: 5 comparable sales within 3 miles; nearest 0.6 mi. This property type carries wider measured error; treat the estimate as a starting point. Comparable-sale caveat: the estimate is 27% below the $301.07/SF median of the shown comparable sales.

Comparable sales used as evidence

Recorded arm's-length sales of similar buildings nearby; nearer and more recent sales rank first. 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.

Ownership tenure is not asserted for this parcel: the most recent recorded transfer is a non-market conveyance.

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

Value over time

$0$1M$2M$3M$4M202220232024202520262027$3M$2.17MCounty 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. Not an appraisal. How this estimate works.

Land, site, and value history

Assessed value moved from $1,924,200 (2022) to $2,171,023 (2027), up 13% over 5 years, per county tax rolls. The 2027 roll splits $2,171,023 into $536,700 land and $1,634,322 improvements.