Former 99 Cents Only
For Sale
Contact for pricing
2009 N Stapley Dr, Mesa, AZ 85203
Former 99 Cents Only storefront with rear loading dock, 251 feet of frontage, and 67 parking spaces.
Property Size13,969 SF
Price / SF$207.60
Days on Market605
Property Features for 2009 N Stapley Dr
General Information
Standard status
Active
Size
13,969 SF
Total Parking Spaces
67
Property subtype
RETAIL
Building Details
Year Built
2007
Listing Agency:
ORION Investment Real Estate
(480) 634-6934
Listed By:
Carol Schillne · License #SA671361000
(714) 292-6171
Source:
Moodyscre
Added: Jan 16, 2025
Changed: Sep 11
Last Checked: Sep 12 at 7:20AM
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.
Former 99 Cents Only store built in 2007, offered for sale. The property includes a rear loading dock designed for deliveries and logistics, along with on-site parking consisting of 67 spaces.
Located at 2009 N Stapley Dr in Mesa, AZ, the site provides 251 feet of frontage on high-traffic N Stapley Dr. Access and visibility are available from both Stapley and McKellips Rd.
The surrounding area is supported by a high-density trade area, with a stated population of approximately 103,500 within 3 miles. The property is also described as being surrounded by national retailers and service tenants.
Located at 2009 N Stapley Dr in Mesa, AZ, the site provides 251 feet of frontage on high-traffic N Stapley Dr. Access and visibility are available from both Stapley and McKellips Rd.
The surrounding area is supported by a high-density trade area, with a stated population of approximately 103,500 within 3 miles. The property is also described as being surrounded by national retailers and service tenants.
Key Highlights
- Former 99 Cents Only Store built in 2007
- 251 feet of frontage on high‑traffic N Stapley Dr
- 67 on‑site parking spaces (4.8 per 1,000 SF)
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
$123,710
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
4.27%
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%
$2,474,200
$2.5M
Cap Rate 7%
$1,767,286
$1.8M
Cap Rate 9%
$1,374,556
$1.4M
Market Conditions
NOI Build-Up for 13,969 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
$189.4K $13.56/SF
− Vacancy
−$12.7K −$0.91/SF
EGI
$176.7K $12.65/SF
− OpEx
−$53.0K −$3.80/SF
NOI
$123.7K $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%
$2,474,200
Cap Rate 7%
$1,767,286
Cap Rate 9%
$1,374,556
Alternative Uses
Best Use
Retail
$1.77M
$1.55M – $2.06M
NOI $123,710 @ 7.0% cap · market cap 4.27%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.83M
$3.35M – $4.47M
NOI $268,030 @ 7.0% cap · market cap 9.24%
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
509
Businesses Nearby
89k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 47%
Shops & Services 46%
Electronics 7%
Fry's Fuel Center
Shops & Services
21,257 visits/mo
0.2 miles
Taco Bell
Dining
15,310 visits/mo
0.2 miles
SUBWAY
Dining
10,033 visits/mo
0.2 miles
Andy's Frozen Custard
Dining
9,679 visits/mo
0.2 miles
Wells Fargo
Shops & Services
9,475 visits/mo
0.1 miles
Demographics for 85203, AZ
37,962
Population
14,020
Households
2.7
Avg Household Size
33
Median Age
29%
College-Educated
91%
High-School Grad
9.3 sq mi
ZIP Area
4,082
Density / Sq Mi
$72,851
Median Household Income
$40,524
Median Earnings
$1,388
Median Rent
$388,300
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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Frequently Asked Questions
What type of property is this?
Retail space - Former 99 Cents Only storefront with rear loading dock, 251 feet of frontage, and 67 parking spaces.
Where is this retail space located?
The property is located at 2009 N Stapley Dr Mesa, AZ.
What is the asking price?
The asking price for this property is $2,900,000.
What are key features of this property?
This property features: Former 99 Cents Only Store built in 2007; 251 feet of frontage on high‑traffic N Stapley Dr; 67 on‑site parking spaces (4.8 per 1,000 SF)
