Historic Downtown Storefront
For Sale
$955,000
41 W Main St, Mesa, AZ 85201
Built in 1920 and positioned near light rail in downtown Mesa.
Property Size4,500 SF
Price / SF$212.22
Days on Market30
Property Features for 41 W Main St
General Information
Standard status
Active
Size
4,500 SF
Building Details
Year Built
1920
Listing Agency:
JPAR Vantage
(480) 570-6739
Listed By:
Richard McCusker · License #SA540550000
Source:
Living48realestate
Added: Aug 2
Changed: Aug 29
Last Checked: Aug 30 at 7:01PM
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 JPAR Vantage
Investment Insights
Based on property information with market context.
This storefront property at 41 W Main St offers a 4,500-size commercial asset in downtown Mesa. Constructed in 1920, the property presents an established building profile for an owner or operator seeking a central commercial address.
The property is near light rail and close to the ASU Campus, placing it within an active downtown setting. Its storefront format supports a range of commercial possibilities, including retail and service-oriented business concepts, subject to applicable requirements and approvals.
The property is near light rail and close to the ASU Campus, placing it within an active downtown setting. Its storefront format supports a range of commercial possibilities, including retail and service-oriented business concepts, subject to applicable requirements and approvals.
Key Highlights
- Downtown Mesa storefront at 41 W Main St
- Built in 1920
- Near light rail
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
$50,151
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
5.25%
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%
$1,003,020
$1.0M
Cap Rate 7%
$716,443
$716.4K
Cap Rate 9%
$557,233
$557.2K
Market Conditions
NOI Build-Up for 4,500 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
$78.3K $17.40/SF
− Vacancy
−$6.7K −$1.48/SF
EGI
$71.6K $15.92/SF
− OpEx
−$21.5K −$4.78/SF
NOI
$50.2K $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 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%
$1,003,020
Cap Rate 7%
$716,443
Cap Rate 9%
$557,233
Alternative Uses
Best Use
Retail
$716.4K
$626.9K – $835.9K
NOI $50,151 @ 7.0% cap · market cap 5.25%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.17M
$1.02M – $1.36M
NOI $81,648 @ 7.0% cap · market cap 8.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,240
Businesses Nearby
65k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 56%
Shops & Services 33%
Home Improvements & Furnishings 10%
Jimmy John's
Dining
20,688 visits/mo
0.2 miles
Taco Bell
Dining
9,728 visits/mo
0.4 miles
Chase Bank
Shops & Services
8,847 visits/mo
0.4 miles
Bank of America
Shops & Services
7,557 visits/mo
0.1 miles
Dairy Queen
Dining
6,215 visits/mo
0.4 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
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
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Similar Off Market Nearby
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Frequently Asked Questions
What type of property is this?
Storefront property - Built in 1920 and positioned near light rail in downtown Mesa.
Where is this storefront property located?
The property is located at 41 W Main St Mesa, AZ.
What is the asking price?
The asking price for this property is $955,000.
What are key features of this property?
This property features: Downtown Mesa storefront at 41 W Main St; Built in 1920; Near light rail
