Downtown Mesa Building For Sale

137 W Main St - Downtown Mesa, Mesa, AZ 85201

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For Sale

$3,075,000

Redevelopment opportunity in the heart of Downtown Mesa, Arizona.

Type:Retail

Property size:

16,658 SF

Price / SF:

$184/SF

HighLights

Located in Downtown Mesa, an upcoming urban redevelopment center.
Ground floor space of ± 11,708 SF.
Includes a basement with ± 4,950 SF.
Benefits from Downtown Mesa's 19,800+ daytime employees and 2.5 million annual visitors.
Features a built‑in‑place barrel roof structure.
Located in one of Arizona’s oldest and largest historic commercial districts.

We can help!

Listing Contact

Kalen Rickard

For Sale

$3,075,000

Redevelopment opportunity in the heart of Downtown Mesa, Arizona.

Type:Retail

Property size:

16,658 SF

Price / SF:

$184/SF

Added:: Nov 25, 2025
Days on Market:: 197
Last Refresh:: May 19 at 9:14 pm

Property Features for 137 W Main St - Downtown Mesa

General Information

Standard status: Active
Size: 16,658 SF
Property subtype: Retail

We can help!

Listing Contact

Kalen Rickard

Listing agent Kalen Rickard License #AZ SA623748000

Listing office Western Retail Advisors, LLC

Listing date Nov 25, 2025

Source W-retail

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 Western Retail Advisors, LLC

HighLights

Located in Downtown Mesa, an upcoming urban redevelopment center.
Ground floor space of ± 11,708 SF.
Includes a basement with ± 4,950 SF.
Benefits from Downtown Mesa's 19,800+ daytime employees and 2.5 million annual visitors.
Features a built‑in‑place barrel roof structure.
Located in one of Arizona’s oldest and largest historic commercial districts.

Overview

Located in downtown Mesa, Arizona, this building offers an opportunity for redevelopment in the Phoenix-Mesa metro area. The property, constructed in 1954, features a ground floor with approximately 11,708 square feet and a basement with approximately 4,950 square feet, totaling 16,658 square feet. It includes a built-in-place barrel roof structure and a mid-space staircase. Downtown Mesa has more than 19,800 daytime employees, 3,200 residents, and approximately 2.5 million annual visitors. Downtown Mesa is the vibrant destination with business incentives such as the Downtown Sign Program, the development of the Innovation District plus a dedicated Downtown Transformation Office.

Local Financial Insights For Retail

Simulate Cap Rate and NOI

NOI Build-Up

Component	$	$/SF
Gross rent	$289.8k	$17.40
− Vacancy	−$24.6k	−$1.48
EGI	$265.2k	$15.92
− OpEx	−$79.6k	−$4.78
NOI	$185.6k	$11.14

16,658 SF · lease $17.40/SF/yr · vacancy 8.50% · expense 30.00%

Alternative Uses

Best Use

Retail

$2.65M

$2.32M – $3.09M (±1% cap)

NOI $185,648 @ 7.0% cap · market cap 6.04%

Second Best

—

no second resolved use

Theoretical Best

Office A

$4.32M

$3.78M – $5.04M (±1% cap)

NOI $302,243 @ 7.0% cap · market cap 9.83%

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

Property Profile Location Intelligence

Current Use by Public Records

Greg & Ben Towing ... Auto Repair Shop Sweet Leaf Dispensary (Bike/Boat/Book/etc) Store

Suggested Use

Similar Places Nearby

La La Libertine — 40 n macdonald #3, mesa, az 85201
Numina Florist & Same Day Flower Delivery — 12 N Center St #100, Mesa, AZ 85201, United States
Crismon's Flowers — ENTER ON, 144 West Main Street, E Main St, Mesa, AZ 85201
Zuzu's Petals — 40 n macdonald, mesa, az 85201

Location Insight

Map
Local Demand

City: Mesa
County: Maricopa
State: Arizona
Longitude: -111.835
Latitude: 33.4147

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For sale
Storefront properties
AZ
Mesa
85201
137 W Main St - Downtown Mesa

What type of property is this?

Storefront property - Redevelopment opportunity in the heart of Downtown Mesa, Arizona.

Where is this storefront property located?

The property is located at 137 W Main St - Downtown Mesa Mesa, AZ.

What is the asking price?

The asking price for this property is $3,075,000.

What are key features of this property?

This property features: Located in Downtown Mesa, an upcoming urban redevelopment center.; Ground floor space of ± 11,708 SF.; Includes a basement with ± 4,950 SF.