Historic Downtown Mixed-Use
For Sale
Contact for pricing
36 S Macdonald, Mesa, AZ 85210
Character-rich structures in Mesa’s urban core offer flexibility for commercial or residential redevelopment.
Property Size20,685 SF
Price / SF$140.15
Days on Market8
Property Features for 36 S Macdonald
General Information
Standard status
Active
Size
20,685 SF
Property subtype
RETAIL
Zoning
C-DT
Additional Details
Opportunity Zone
Yes
Road Access
Yes
Listing Agency:
ORION Investment Real Estate
(480) 848-3168
Listed By:
Garrett Hemeyer · License #SA691810000
(480) 848-3168
Source:
Moodyscre
Added: Aug 24
Changed: Aug 30
Last Checked: Aug 30 at 11:51PM
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.
This downtown Mesa property includes approximately 20,685 square feet of existing historic structures with original architectural character. The improvements provide a foundation for adaptive reuse, with source information identifying potential applications including creative office, specialty retail, mixed-use, and residential units.
The property is zoned Commercial Downtown (C-DT) and sits near Main Street, civic institutions, and light rail service. It is also located within an Opportunity Zone. The site’s position in Mesa’s urban core and its existing vintage buildings support redevelopment planning centered on preserving distinctive architectural elements while adapting the space for contemporary use.
The property is zoned Commercial Downtown (C-DT) and sits near Main Street, civic institutions, and light rail service. It is also located within an Opportunity Zone. The site’s position in Mesa’s urban core and its existing vintage buildings support redevelopment planning centered on preserving distinctive architectural elements while adapting the space for contemporary use.
Key Highlights
- Approximately 20,685 square feet of existing historic structures
- Commercial Downtown (C‑DT) zoning
- Near Main Street, civic institutions, and light rail service
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
$183,187
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
6.32%
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%
$3,663,740
$3.7M
Cap Rate 7%
$2,616,957
$2.6M
Cap Rate 9%
$2,035,411
$2.0M
Market Conditions
NOI Build-Up for 20,685 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
$280.5K $13.56/SF
− Vacancy
−$18.8K −$0.91/SF
EGI
$261.7K $12.65/SF
− OpEx
−$78.5K −$3.80/SF
NOI
$183.2K $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%
$3,663,740
Cap Rate 7%
$2,616,957
Cap Rate 9%
$2,035,411
Alternative Uses
Best Use
Office B
$5.06M
$4.43M – $5.91M
NOI $354,440 @ 7.0% cap · market cap 12.23%
Second Best
Retail
$2.62M
$2.29M – $3.05M
NOI $183,187 @ 7.0% cap · market cap 6.32%
Theoretical Best
Office A
$5.67M
$4.96M – $6.61M
NOI $396,894 @ 7.0% cap · market cap 13.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
2,192
Businesses Nearby
Explore this area
Business Placement
Demographics for 85210, AZ
40,351
Population
16,292
Households
2.5
Avg Household Size
32
Median Age
25%
College-Educated
84%
High-School Grad
6.7 sq mi
ZIP Area
6,023
Density / Sq Mi
$59,680
Median Household Income
$38,479
Median Earnings
$1,383
Median Rent
$301,600
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Character-rich structures in Mesa’s urban core offer flexibility for commercial or residential redevelopment.
Where is this mixed-use property located?
The property is located at 36 S Macdonald Mesa, AZ.
What is the asking price?
The asking price for this property is $2,899,000.
What are key features of this property?
This property features: Approximately 20,685 square feet of existing historic structures; Commercial Downtown (C‑DT) zoning; Near Main Street, civic institutions, and light rail service
