1840 W Southern Ave - Retail FOR SALE


Mesa, AZ 85202- Central Mesa
$3,000,000 USD
480-481-0032
1840 W Southern Ave, Mesa, AZ for Sale
$3,000,000 USD
Retail - FOR SALE
1/8
null | 6.01% Cap Rate

1840 W Southern Ave
Mesa, AZ 85202
Central Mesa


OVERVIEW

Across from Mesa Community College, this 16,200 Sq. Ft. Retail Strip Center on 1.26 Acres is presently 80% occupied and priced at a 6.94% cap rate based on current leases. 20% leasing upside. Recently resealed parking lot, landscape upgrades. New roof 2018. An extrodenary opportunity in fantastic Mesa location. Just west is the Banner Desert Medical Center 80 Acre Campus at Dobson and Southern is 313,671 SF medical office park. Just east is the 80 acre Fiesta Mall Redefined 80 acre mixed use development approved for 4,000 housing units, approximately 1.85 million sq. ft. of retail, restaurant, and office spaces. Over 500,000 square feet of open areas are planned, emphasizing walkability and bike-friendliness to foster a pedestrian-centric community. The development will feature a central village green, incorporating parks, shade ramadas, picnic areas, event lawns, play areas, and pedestrian pathways, promoting social interaction and community engagement. The area is exceptional. Highway 60 is 1 mile south and Loop 101 is approximately 2 miles west. Seize the opportunity!

FOR SALE DETAILS

PRICE

$3,000,000 USD

PRICE/SF

$185 USD /SF

CAP RATE

6.01%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

College Plaza

PROPERTY TYPE

Retail

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1985

SPRINKLERS

-

PARKING SPACES

102

LAND DETAILS

LAND ACRES

1.26 AC

LAND SF

54,886 SF

ZONING

L2

APN/PARCEL ID

305-06-005

ASK ABOUT THIS PROPERTY

William ClarksonBill Clarkson, CCIM Realty Executives CommercialMore Info
480-481-0032

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William ClarksonBill Clarkson, CCIM Realty Executives CommercialMore Info
480-481-0032

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.