Downtown Mesa Building For
For Sale
$3,075,000
137 W Main St - Downtown Mesa, Mesa, AZ 85201
Redevelopment opportunity in the heart of Downtown Mesa, Arizona.
Property Size16,658 SF
Price / SF$184.60
Days on Market315
Property Features for 137 W Main St - Downtown Mesa
General Information
Standard status
Active
Size
16,658 SF
Property subtype
Retail
Building Details
Building Size
16,658 SF
Listing Agency:
Western Retail Advisors
Listed By:
Kalen Rickard · License #SA623748000
(602) 931-4492
Source:
W-retail
Added: Nov 25, 2025
Changed: Sep 7
Last Checked: Oct 5 at 4:45PM
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
Investment Insights
Based on property information with market context.
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.
Key Highlights
- Located in Downtown Mesa, an upcoming urban redevelopment center.
- Ground floor space of ± 11,708 SF.
- Includes a basement with ± 4,950 SF.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$185,648
Cap Rate
6.04%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,712,960
$3.7M
Cap Rate 7%
$2,652,114
$2.7M
Cap Rate 9%
$2,062,756
$2.1M
Market Conditions
NOI Build-Up for 16,658 SF
Gross rent
$289.8K $17.40/SF
− Vacancy
−$24.6K −$1.48/SF
EGI
$265.2K $15.92/SF
− OpEx
−$79.6K −$4.78/SF
NOI
$185.6K $11.14/SF
Area
ZIP 85201
Vacancy
8.50%
Lease Rate
$17.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,712,960
Cap Rate 7%
$2,652,114
Cap Rate 9%
$2,062,756
Alternative Uses
Best Use
Retail
$2.65M
$2.32M – $3.09M
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
NOI $302,243 @ 7.0% cap · market cap 9.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
2,192
Businesses Nearby
60k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 61%
Shops & Services 28%
Home Improvements & Furnishings 11%
Jimmy John's
Dining
20,688 visits/mo
0.4 miles
Taco Bell
Dining
9,728 visits/mo
0.2 miles
Chase Bank
Shops & Services
8,847 visits/mo
0.3 miles
Bank of America
Shops & Services
7,557 visits/mo
0.1 miles
Dairy Queen
Dining
6,215 visits/mo
0.2 miles
Demographics for 85201, AZ
51,187
Population
23,099
Households
2.2
Avg Household Size
33
Median Age
27%
College-Educated
87%
High-School Grad
9.4 sq mi
ZIP Area
5,445
Density / Sq Mi
$63,725
Median Household Income
$40,067
Median Earnings
$1,349
Median Rent
$292,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in West region
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Similar Off Market Nearby
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Frequently Asked Questions
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.
