Mesa Value-Add Shopping
For Sale
$5,252,000
4815 E Main St, Mesa, AZ 85205
Shopping center with below-market rents and immediate upside potential.
Property Size31,888 SF
Price / SF$164.70
Days on Market104
Property Features for 4815 E Main St
General Information
Standard status
Active
Size
31,888 SF
Property subtype
Commercial
Occupancy
77%
Net Operating Income
$322,148
Building Details
Building Size
31,888 SF
Year Built
1978
Units
20
Listing Agency:
Matthews
(602) 922-3427
Listed By:
Zach Stevens · License #SA712608000 (AZ)
(602) 922-3427
Source:
Matthews
Added: May 14
Changed: Aug 23
Last Checked: Aug 25 at 4:43AM
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 Matthews
Investment Insights
Based on property information with market context.
This commercial property is a shopping center located in Mesa, Arizona. The property has a size of 31888 square feet and is being offered for sale. The property is described as a value-add shopping center with below-market rents, presenting an opportunity for immediate upside.
Key Highlights
- Value‑Add Opportunity
- Below‑Market Rents offer immediate upside potential.
- Immediate Upside Potential
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$282,401
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.38%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$5,648,020
$5.6M
Cap Rate 7%
$4,034,300
$4.0M
Cap Rate 9%
$3,137,789
$3.1M
Market Conditions
NOI Build-Up for 31,888 SF
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.
Gross rent
$432.4K $13.56/SF
− Vacancy
−$29.0K −$0.91/SF
EGI
$403.4K $12.65/SF
− OpEx
−$121.0K −$3.80/SF
NOI
$282.4K $8.86/SF
Area
Mesa, AZ
Vacancy
6.70%
Lease Rate
$13.56 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$5,648,020
Cap Rate 7%
$4,034,300
Cap Rate 9%
$3,137,789
Alternative Uses
Best Use
Retail
$4.03M
$3.53M – $4.71M
NOI $282,401 @ 7.0% cap · market cap 5.38%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$8.74M
$7.65M – $10.20M
NOI $611,852 @ 7.0% cap · market cap 11.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
557
Businesses Nearby
3k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
PNC Bank
Shops & Services
1,903 visits/mo
0.5 miles
Friendly Auto Centers
Shops & Services
1,098 visits/mo
0.2 miles
Demographics for 85205, AZ
44,137
Population
23,473
Households
1.9
Avg Household Size
48
Median Age
30%
College-Educated
94%
High-School Grad
10.1 sq mi
ZIP Area
4,370
Density / Sq Mi
$71,294
Median Household Income
$46,378
Median Earnings
$1,363
Median Rent
$301,200
Median Home Value
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Shopping center - Shopping center with below-market rents and immediate upside potential.
Where is this shopping center located?
The property is located at 4815 E Main St Mesa, AZ.
What is the asking price?
The asking price for this property is $5,252,000.
What are key features of this property?
This property features: Value‑Add Opportunity; Below‑Market Rents offer immediate upside potential.; Immediate Upside Potential
