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4448 E Main Street - Main & Greenfield Plaza, Mesa, AZ

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DetailMap
4448 E Main Street - Main & Greenfield Plaza

Mesa, AZ 85205 - Red Mountain/Mesa Ret Submarket


Property Type:Retail Sub Type:- Status:Existing Year Built:1979
Building Size:18,600 SF Land Area:1.56 AC (67,954 SF)
% Leased:
For Sale Price:$1,925,000 Price/SF:$103.49
Cap Rate:5.06 %
Smallest Space:975 SF Largest Space:7,200 SF Total Space Avail:13,575 SF Rent/SF/Yr:
$10.00 - $12.00
Parking:Free Surface spaces are available; Ratio of 4/1,000 SF
Features:Dedicated Turn Lane, Pylon Sign, Signage, Signalized Intersection


Space Available:
Floor
SF Avail
Rent
Occupancy
Lease Term
Space Use
 1st
4,200 SF
$10.00/SF/Yr
Vacant
Negotiable
Retail
 1st
975 SF
$12.00/SF/Yr
Vacant
Negotiable
Retail
 1st
1,200 SF
$12.00/SF/Yr
Vacant
Negotiable
Retail
 1st
7,200 SF
$10.00/SF/Yr
02/2018
Negotiable
Retail
 
12135230
12135227
12135228
12135229
Marketing Flyer Marketing Flyer  


Floor
SF Avail
Rent/SF/Yr
Occupancy
Lease Term
Space Use
1st
4,200 SF
$10.00/SF/Yr
Vacant
Negotiable
Retail
1st
975 SF
$12.00/SF/Yr
Vacant
Negotiable
Retail
1st
1,200 SF
$12.00/SF/Yr
Vacant
Negotiable
Retail
1st
7,200 SF
$10.00/SF/Yr
02/2018
Negotiable
Retail
Freestanding multi-tenant retail building in a Fry's anchored shopping center.

Sale Notes:
Fry' s Shops on Main is a multi-tenant retail center shadow-anchored by Fry' s grocery store in Mesa (Phoenix), Arizona. The building, constructed in 1979, currently has three vacant suites, totaling ±6,375 square feet (±4,200; ±975; and ±1,200). At only 66% occupancy, this provides a buyer significant upside and value creation through leasing and upgrades. The largest tenant, Connector Church, occupies multiple contiguous suites at a below market rent. Upon roll-over, this can provide a buyer further upside in lease rates. The dry cleaners on the end cap also has a below market rent of only $9.14 Gross. This retail center is for sale for $103 per square foot, which is well below replacement cost (±$175 psf) and less than half of the current market average for strip centers sales ($221 psf).

This asset is located on the northeast corner of Main & Greenfield in Mesa, Arizona. Mesa is a large community in the southeast valley of the Phoenix MSA. The concentration of homes, apartments, and retirement parks is very high surrounding this property with 118,585 people in a 3-mile radius1. This property benefits from heavy traffic counts of approximately 49,200 vehicles per day2. The subject building is located within a larger center that includes Fry' s Food (owns their own building and has been a grocery store here since the 1970' s), Taco Bell, Compass Bank, Dollar Tree, Fry' s Fuel and more. At the intersection you can also find 99 Cent Only, Walgreens, and Chase Bank.

CBRE
Jesse Goldsmith
(602) 735-5217

Steve Julius
(602) 735-5216


COBE Real Estate
Linda Miskho
(480) 610-2400

TJ Zaharis
(480) 610-2400



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