Mesa Commons Neighborhood Shopping
For Sale
Contact for pricing
1830 E Baseline Rd, Mesa, AZ 85204
Established retail center with signalized-intersection access, substantial visibility, and stable tenant occupancy.
Property Size129,315 SF
Lot Size9.60 Acres
Price / SF$174.77
Days on Market146
Property Features for 1830 E Baseline Rd
General Information
Standard status
Active
Size
129,315 SF
Lot size
9.60 Acres
Property subtype
Retail
Zoning
LC
Occupancy
98%
Additional Details
Traffic Count
80,000 vehicles/day
Building Details
Year Built
1991
Tenancy
Multi
Listing Agency:
ORION Investment Real Estate
(480) 292-3697
Listed By:
Ari Spiro · License #AZ BR115272000
Source:
Crexi
Added: Apr 8
Changed: Aug 31
Last Checked: Aug 31 at 12:20AM
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 ORION Investment Real Estate
Investment Insights
Based on property information with market context.
Mesa Commons is a 129,315-square-foot neighborhood shopping center built in 1991 on approximately 9.6 acres. The center includes an anchor tenant with a 20-year history at the property and documented investment in improvements. Zoning is LC, and average occupancy has been 99.3% since 2020.
The property is located at 1830 E Baseline Rd in Mesa, Arizona, at a signalized intersection associated with the Mesa and Gilbert trade area. The site receives exposure to approximately 80,000 vehicles per day, with access and positioning suited to a prominent neighborhood retail setting.
Tenant stability is reflected in a 7.6-year weighted average lease term. Together, the center’s scale, established occupancy, long-standing anchor presence, and high-traffic intersection provide a defined retail platform.
The property is located at 1830 E Baseline Rd in Mesa, Arizona, at a signalized intersection associated with the Mesa and Gilbert trade area. The site receives exposure to approximately 80,000 vehicles per day, with access and positioning suited to a prominent neighborhood retail setting.
Tenant stability is reflected in a 7.6-year weighted average lease term. Together, the center’s scale, established occupancy, long-standing anchor presence, and high-traffic intersection provide a defined retail platform.
Key Highlights
- 129,315‑square‑foot neighborhood shopping center on approximately 9.6 acres
- 99.3% average occupancy since 2020
- Anchor tenant with a 20‑year history at the center
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
$1,515,313
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
6.70%
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%
$30,306,260
$30.3M
Cap Rate 7%
$21,647,329
$21.6M
Cap Rate 9%
$16,836,811
$16.8M
Market Conditions
NOI Build-Up for 129,315 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
$2.33M $18.00/SF
− Vacancy
−$162.9K −$1.26/SF
EGI
$2.16M $16.74/SF
− OpEx
−$649.4K −$5.02/SF
NOI
$1.52M $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%
$30,306,260
Cap Rate 7%
$21,647,329
Cap Rate 9%
$16,836,811
Alternative Uses
Best Use
Retail
$21.65M
$18.94M – $25.26M
NOI $1,515,313 @ 7.0% cap · market cap 6.70%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$42.94M
$37.57M – $50.09M
NOI $3,005,636 @ 7.0% cap · market cap 13.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
80,000 VPD
Traffic count
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
835
Businesses Nearby
405k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 48%
Groceries 37%
Shops & Services 10%
Home Improvements & Furnishings 3%
Fry's
Groceries
74,846 visits/mo
0.3 miles
McDonald's
Dining
42,461 visits/mo
0.2 miles
Trader Joe's
Groceries
41,342 visits/mo
0.2 miles
Sprouts Farmers Market
Groceries
28,840 visits/mo
0.2 miles
Fry's Fuel Center
Shops & Services
21,526 visits/mo
0.2 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
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 - Established retail center with signalized-intersection access, substantial visibility, and stable tenant occupancy.
Where is this shopping center located?
The property is located at 1830 E Baseline Rd Mesa, AZ.
What is the asking price?
The asking price for this property is $22,600,000.
What are key features of this property?
This property features: 129,315‑square‑foot neighborhood shopping center on approximately 9.6 acres; 99.3% average occupancy since 2020; Anchor tenant with a 20‑year history at the center
