Fitness-Anchored Shopping
For Sale
Contact for pricing
425-515 N Stapley Dr, Mesa, AZ 85203
Shopping center is 100% occupied and features a fitness-anchored tenant mix.
Property Size24,568 SF
Price / SF$235.32
Days on Market347
Property Features for 425-515 N Stapley Dr
General Information
Standard status
Active
Size
24,568 SF
Property subtype
RETAIL
Occupancy
100%
Listing Agency:
Cushman & Wakefield | Phoenix
(602) 954-9000
Listed By:
Shane Carter · License #SA673156000
(602) 253-7900
Source:
Moodyscre
Added: Oct 2, 2025
Changed: Aug 15
Last Checked: Sep 13 at 6:33AM
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 Cushman & Wakefield | Phoenix
Investment Insights
Based on property information with market context.
This fitness-anchored shopping center is offered for sale and is 100% occupied. The center also benefits from a diverse tenant mix, with rents described as below market.
The property is located at 425–515 N Stapley Dr in Mesa, Arizona (85203). It is positioned as a shopping center investment opportunity with pricing noted as below replacement cost.
With consistent occupancy and multiple tenants in place, the asset provides an income-producing retail configuration aligned with a fitness-centered retail draw.
The property is located at 425–515 N Stapley Dr in Mesa, Arizona (85203). It is positioned as a shopping center investment opportunity with pricing noted as below replacement cost.
With consistent occupancy and multiple tenants in place, the asset provides an income-producing retail configuration aligned with a fitness-centered retail draw.
Key Highlights
- 100% occupied shopping center
- Fitness‑anchored tenant mix
- Diverse tenant mix
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
$217,575
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
3.76%
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%
$4,351,500
$4.4M
Cap Rate 7%
$3,108,214
$3.1M
Cap Rate 9%
$2,417,500
$2.4M
Market Conditions
NOI Build-Up for 24,568 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
$333.1K $13.56/SF
− Vacancy
−$22.3K −$0.91/SF
EGI
$310.8K $12.65/SF
− OpEx
−$93.2K −$3.80/SF
NOI
$217.6K $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%
$4,351,500
Cap Rate 7%
$3,108,214
Cap Rate 9%
$2,417,500
Alternative Uses
Best Use
Retail
$3.11M
$2.72M – $3.63M
NOI $217,575 @ 7.0% cap · market cap 3.76%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$6.73M
$5.89M – $7.86M
NOI $471,399 @ 7.0% cap · market cap 8.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,020
Businesses Nearby
95k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 37%
Groceries 32%
Shops & Services 31%
Food City Arizona
Groceries
30,161 visits/mo
0.4 miles
Circle K
Shops & Services
16,684 visits/mo
0.1 miles
Jack in the Box
Dining
12,210 visits/mo
0.2 miles
Denny's
Dining
10,755 visits/mo
0.5 miles
Starbucks
Dining
10,058 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
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Sherwood Mesa Plaza Shopping Center — Mesa, AZ 85204
- UNITY PLAZA — 27 S Stapley Dr, Mesa, AZ 85204
- Coin Time Bitcoin ATM — 816 E University Dr, Mesa, AZ 85203
Frequently Asked Questions
What type of property is this?
Shopping center - Shopping center is 100% occupied and features a fitness-anchored tenant mix.
Where is this shopping center located?
The property is located at 425-515 N Stapley Dr Mesa, AZ.
What is the asking price?
The asking price for this property is $5,781,344.
What are key features of this property?
This property features: 100% occupied shopping center; Fitness‑anchored tenant mix; Diverse tenant mix
