Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    65 E 1st Ave Mesa, AZ

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Retail, restaurant, or office space in Downtown Mesa.

    Type:OFFICE
    Property size:
    1,600 SF
    Lot size:
    0.29 Acres
    Added:
    Mar 20, 2025
    Days on Market:
    406
    Last Refresh:
    Apr 5 at 11:06 pm

    Property Features for 65 E 1st Ave

    General Information

    Standard status
    Active
    Size
    1,600 SF
    Lot size
    0.29 Acres
    Property subtype
    OFFICE

    Spaces For Lease

    at 65 E 1st Ave Contact us

    We can help!

    Listing Contact
    Don Mortensen
    Don Mortensen

    Listing agent Don Mortensen License #BR529840000

    Listing office LRA Real Estate Group LLC

    Listing date Mar 20, 2025

    Source Moodyscre

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    All listing content including descriptions, pricing, images are the copyrighted material of LRA Real Estate Group LLC

    Overview

    Downtown Mesa Retail/Office Opportunity

    This property presents an opportunity for retail, restaurant, or office use. It is situated in the heart of Downtown Mesa, directly across from the Mesa Arts Center and one block from both the ASU Downtown Mesa Campus and Benedictine University. The building has been newly remodeled and offers ample parking. The property has a size of 1600 square feet. A generous Tenant Improvement allowance is available.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Larry R. Johnston, ... Alternative Medicine Practice Arizona Mountain Guides Rock Climbing LRA Real Estate ... Real Estate Agency Dr. Ronald Mcgee Alternative Medicine Practice Rain Visual Strategy ... Marketing & Advertising

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Pharmacy

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Mesa
    County
    Maricopa
    State
    Arizona
    Longitude
    -111.829
    Latitude
    33.4126

    Nearby Similar for Lease

    • $15 SF/Yr

      Freestanding Mesa Property For Lease

      Remodeled showroom with roll-up bays, ideal for automotive or industrial.
      220 E Baseline Rd, Mesa, AZ 85210
      View Details
    • Contact for pricing

      Stapley Corporate Center

      1910 Stapley Dr, Unit 221, Mesa, AZ 85204
      View Details
    • Contact for pricing

      AZ, Mesa- W Brown Rd

      560 Brown Rd, Unit 3A1, Mesa, AZ 85201
      View Details
    • $20 SF/Yr

      Mesa Medical Office Space Available

      Class B medical office condo in Mesa, built in 2002.
      5432 E Southern Ave, Mesa, AZ 85206
      View Details
    • Contact for pricing

      Val Vista

      3707 Southern Ave, Unit Floors 1 & 2, Mesa, AZ 85206
      View Details
    • Sponsored
      Contact for pricing

      Dobson

      2266 Dobson Rd, Unit 200, Mesa, AZ 85202
      View Details
    • $3,546/Mo

      Mesa Medical Office Building

      Class A medical office in Red Mountain Professional Park.
      Red Mountain Professional Park 6848 E Brown Rd, Mesa, AZ 85207
      View Details
    • $1.40 SF/Yr

      Mesa Industrial Space For Lease

      Industrial space featuring offices, conference room, and freeway signage.
      544 W Iron Ave, Mesa, AZ 85210
      View Details
    • $19 SF/Yr

      Mesa Medical Office Space Available

      Single-story Class B office condo in Mesa, Arizona for lease.
      5440 E Southern Ave, Mesa, AZ 85206
      View Details
    • $17 SF/Yr

      Mesa Office Space Available

      Prime commercial property in Mesa, AZ, ideal for professional services.
      1050 East University Drive, Mesa, AZ 85203
      View Details
    • $22 SF/Yr

      Shell Office Space For Lease

      Shell office space available for lease at Crismon & Southern.
      1010 S Crismon Rd, Mesa, AZ 85208
      View Details
    • $10 SF/Yr

      Remodeled Office Space For Lease

      Recently remodeled office building with high visibility and abundant parking.
      2260 E University Dr, Mesa, AZ 85213
      View Details

    FAQs

    What type of property is this?
    Office units - Retail, restaurant, or office space in Downtown Mesa.
    Where is this office units located?
    The property is located at 65 E 1st Ave Mesa, AZ.
    What is the lease rate?
    The lease rate is $29 SF/Yr.
    What are key features of this property?
    This property features: Located in the heart of Downtown Mesa across the street from Mesa Art Center.; One block from ASU Downtown Mesa Campus and Benedictine University.; Newly remodeled building.
    (480) 526-5644 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Don Mortensen
    Don Mortensen
    Real Estate License ID: BR529840000
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!