Mesa Village Retail
1902-1940 E Main St and 60 N Gilbert Rd Mesa, AZ 85203
1902-1940 E Main St and 60 N Gilbert Rd, Mesa, AZ, 85203
$8,500,000
For Sale
$8,500,000
Prime retail space in centralized Mesa location near light rail.
Property Size56,095 SF
Price / SF$151.53
Days on Market137
Property Features for 1902-1940 E Main St and 60 N Gilbert Rd
General Information
- Standard status
- Active
- Size
- 56,095 SF
- Property subtype
- Retail
Building Details
- Year Built
- 1975
Listing Agency
Commercial Properties Inc Tempe
(602) 315-7131
Listed by
Tyson Breinholt · License #BR517298000
(602) 315-7131
Source
Corfac
Added: Mar 5 Updated: Jul 6 at 10:27 am Checked: Jul 19 at 4:10 am
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 Commercial Properties Inc Tempe
Investment Insights
Based on property information with market context.
Mesa Village features 56,095 square feet of retail space. The property includes a main building with two suites and three PADs. It is located at the northwest corner of Main Street and Gilbert Road, offering frontage on both streets. The location is centralized within Mesa and is adjacent to the Valley Metro Light Rail.
Key Highlights
- Prime retail space totaling 56,095 square feet.
- Centralized Mesa location.
- Frontage on Main St and Gilbert Rd.
Local Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $760.6k | $13.56 |
| − Vacancy | −$51.0k | −$0.91 |
| EGI | $709.7k | $12.65 |
| − OpEx | −$212.9k | −$3.80 |
| NOI | $496.8k | $8.86 |
56,095 SF · lease $13.56/SF/yr · vacancy 6.70% · expense 30.00%
Alternative Uses
Best Use
Retail
$7.10M
$6.21M – $8.28M
NOI $496,779 @ 7.0% cap · market cap 5.84%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$15.38M
$13.45M – $17.94M
NOI $1,076,324 @ 7.0% cap · market cap 12.66%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Shopping centers
Similar For Sale Nearby
Similar Off Market Nearby
- Orange Tree Plaza — 1954 E McKellips Rd, Mesa, AZ 85203
- Village Grove — 1927 N Gilbert Rd, Mesa, AZ 85203
FAQs
What type of property is this?
Shopping center - Prime retail space in centralized Mesa location near light rail.
Where is this shopping center located?
The property is located at 1902-1940 E Main St and 60 N Gilbert Rd Mesa, AZ.
What is the asking price?
The asking price for this property is $8,500,000.
What are key features of this property?
This property features: Prime retail space totaling 56,095 square feet.; Centralized Mesa location.; Frontage on Main St and Gilbert Rd.
