Multi-Tenant Strip Center For
For Sale
Contact for pricing
Pending
1616 S Stapley Dr, Mesa, AZ 85204
6,797 SF strip center on 1.19 AC parcel.
Property Size6,797 SF
Lot Size1.19 Acres
Days on Market156
Property Features for 1616 S Stapley Dr
General Information
Standard status
Pending
Size
6,797 SF
Class
A
Lot size
1.19 Acres
Property subtype
Retail
Zoning
Commercial
Occupancy
100%
Lease Type
NNN
Investment Type
Stabilized
Building Details
Year Built
2005
Buildings
1
Stories
1
Units
3
Tenancy
Multi
Listing Agency:
Western Retail Advisors
Listed By:
Noah Anastassatos · License #SA66999400
(602) 931-4494
Source:
Crexi
Added: Apr 4
Changed: Sep 4
Last Checked: Sep 2 at 3:12PM
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.
This multi-tenant strip center features approximately 6,797 square feet of space and is situated on an approximately 1.19-acre parcel. The property is currently 100% leased and features a strong mix of national and growing tenants. It benefits from a prime regional location within a high-density retail corridor and robust local demographics. The property is strategically placed in Mesa, Arizona. The average household income within a 1-mile radius is projected to be $107,077 in 2025.
Key Highlights
- 100% Leased: Provides immediate income stream.
- Prime Regional Location: High‑traffic area ensures visibility and accessibility.
- Strong National and Growing Tenancy: Indicates stability and potential for increased value.
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
$79,647
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
3.01%
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%
$1,592,940
$1.6M
Cap Rate 7%
$1,137,814
$1.1M
Cap Rate 9%
$884,967
$885.0K
Market Conditions
NOI Build-Up for 6,797 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
$122.3K $18.00/SF
− Vacancy
−$8.6K −$1.26/SF
EGI
$113.8K $16.74/SF
− OpEx
−$34.1K −$5.02/SF
NOI
$79.6K $11.72/SF
Area
ZIP 85204
Vacancy
7.00%
Lease Rate
$18.00 /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%
$1,592,940
Cap Rate 7%
$1,137,814
Cap Rate 9%
$884,967
Alternative Uses
Best Use
Retail
$1.14M
$995.6K – $1.33M
NOI $79,647 @ 7.0% cap · market cap 3.01%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.26M
$1.97M – $2.63M
NOI $157,981 @ 7.0% cap · market cap 5.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,569
Businesses Nearby
719k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 40%
Superstores 22%
Shops & Services 19%
Groceries 6%
Walmart
Superstores
158,717 visits/mo
0.4 miles
In-N-Out Burger
Dining
64,689 visits/mo
0.2 miles
Chick-fil-A
Dining
64,018 visits/mo
0.2 miles
Raising Cane's Chicken Fingers
Dining
46,072 visits/mo
0.4 miles
El Super
Groceries
45,755 visits/mo
0.5 miles
Demographics for 85204, AZ
63,808
Population
24,536
Households
2.6
Avg Household Size
33
Median Age
20%
College-Educated
84%
High-School Grad
9.9 sq mi
ZIP Area
6,445
Density / Sq Mi
$69,474
Median Household Income
$40,347
Median Earnings
$1,426
Median Rent
$296,000
Median Home Value
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Strip mall - 6,797 SF strip center on 1.19 AC parcel.
Where is this strip mall located?
The property is located at 1616 S Stapley Dr Mesa, AZ.
What is the asking price?
The asking price for this property is $2,650,000.
What are key features of this property?
This property features: 100% Leased: Provides immediate income stream.; Prime Regional Location: High‑traffic area ensures visibility and accessibility.; Strong National and Growing Tenancy: Indicates stability and potential for increased value.
