In this paper we show that for an almost finite minimal ample groupoid G, its reduced C * -algebra C * r (G) has real rank zero and strict comparison even though C * r (G) may not be nuclear in general. Moreover, if we further assume G being also second countable and non-elementary, then its Cuntz semigroup Cu(C * r (G)) is almost divisible and Cu(C * r (G)) and Cu(C * r (G) ⊗ Z) are canonically order-isomorphic, where Z denotes the Jiang-Su algebra.Almost finiteness for an ample groupoid was introduced by Matui in [20]. He studied their topological full groups as well as the applications of almost finiteness to the homology of étale groupoids (see [21] for a survey of results in this direction). In [12], David Kerr specialised to almost finite group actions and treated them as a topological analogue of probability measure preserving hyperfinite equivalence relations, with the ultimate goal of transferring ideas from the classification of equivalence relations and von Neumann algebras to the world of (amenable) topological dynamics and C * -algebras.Recently, the classification program for C * -algebras has culminated in the outstanding theorem that all separable, simple, unital, nuclear, Z-stable C * -algebras satisfying the universal coefficient theorem (UCT) are classified by their Elliott-invariant (see [30, Corollary D] and [8, Corollary D]). Recall that a C * -algebra is Z-stable if A ⊗ Z ∼ = A, where Z denotes the so-called Jiang-Su algebra. By the Toms-Winter conjecture Z-stability is conjecturally equivalent to strict comparison (or equivalently, almost unperforation of the Cuntz semigroup) for separable, simple, nuclear, non-elementary C * -algebras. It is known that Z-stability implies strict comparison in general and the converse is indeed the last remaining open step in the Toms-Winter conjecture (see [33] for an overview and [7] for the state of the art for the conjecture).Going back to topological dynamics, David Kerr's approach in [12] has seen dramatic success. He was able to show that a crossed product C(X) Γ associated to a free and minimal action of an (amenable) infinite group Γ is Z-stable provided that the action is almost finite (see [12, Theorem 12.4]). Combining this with the recent result in [13, Theorem 8.1], which states that every free action of a countably infinite (amenable) group with subexponential