Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Retail Land on Signalized Corner Title is generated by Realmo AI

    5602 5606 E McKellips Rd, Mesa, AZ 85215

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $2,150,000

    Retail land for sale on a signalized corner.

    Type:Retail
    Added:
    Mar 5, 2026
    Days on Market:
    74
    Last Refresh:
    Apr 5 at 8:43 pm

    Property Features for 5602 5606 E McKellips Rd

    General Information

    Standard status
    Active
    Property subtype
    Retail

    Building Details

    Year Built
    1973

    We can help!

    Listing Contact
    Rex Griswold

    Listing agent Rex Griswold

    Listing office Commercial Properties Inc

    Listing date Mar 5, 2026

    Source Corfac

    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 Commercial Properties Inc

    HighLights

    • Key corner location ideal for fast food, restaurants, or car sales
    • ±58,313 SF retail land on signalized corner
    • Located in an opportunity zone
    • Large signage on McKellips Rd
    • Short term leases in place
    • Gated yard

    Overview

    Available for sale is a ±58,313 square feet retail land parcel situated on a signalized corner. The property is located at the intersection of Higley and McKellips. It is located in an Opportunity Zone. The site benefits from short term leases and features a gated yard. The key corner location is well-suited for fast food establishments, restaurants, or car sales. Large signage is present on McKellips Road.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    U-Haul Neighborhood Dealer Car Rental Facility D & T Golf ... Golf Cart Dealer

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Pharmacy

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Mesa
    County
    Maricopa
    State
    Arizona
    Longitude
    -111.71
    Latitude
    33.4524

    Nearby Similar for Sale

    • $899,880

      Mesa Land Parcel Opportunity

      Large multi-use land parcel in Mesa, Arizona.
      1106 N CENTER Street, Mesa, AZ 85201
      View Details
    • $899,890
      994 SF

      Mesa Land Parcel Opportunity

      Large multi-use parcel with potential for various commercial ventures.
      1106 N CENTER Street, Mesa, AZ 85201
      View Details
    • $4,450,000

      Mesa Land Development Opportunity

      5.29 acre site with income potential in Mesa, AZ.
      9919 E Main Street, Mesa, AZ 85207
      View Details
    • $849,000

      Mesa Land for Mixed-Use Development

      Infill opportunity for mixed-use development in Mesa, Arizona.
      1258 N RECKER Road, Mesa, AZ 85205
      View Details
    • $549,500
      2,000 SF

      Mesa Multifamily Property For Sale

      Multifamily property with upgraded units, ideal for investment.
      8125 E BONNELL Street, Mesa, AZ 85207
      View Details
    • $595,000

      Mesa Income Property with Guest House

      Remodeled main house plus two-unit guest house in downtown Mesa.
      146 S ROBSON, Mesa, AZ 85210
      View Details
    • $425,000

      Mesa Land with Sunset Views

      Premium lot with approved plans and utilities in Mesa, AZ.
      3404 N 82nd Place, Mesa, AZ 85207
      View Details
    • $379,000

      Mesa Land with Panoramic Views

      1.46-acre homesite with mountain, desert, and city views.
      2703 N 90TH Street, Mesa, AZ 85207
      View Details
    • $717,500

      Mesa Fourplex Investment Opportunity

      Well-maintained fourplex in a high-demand Mesa neighborhood.
      834 N CHERRY, Mesa, AZ 85201
      View Details
    • $379,000

      Residential Land in Skyview Community

      Homesite in Northeast Mesa's Skyview community, ready for custom build.
      N 91st Place, Mesa, AZ 85207
      View Details
    • $260,000

      Mesa Lot Near Light Rail

      Prime lot in Mesa, build your dream home!
      425 N MATLOCK Street, Mesa, AZ 85203
      View Details
    • $357,999

      Mesa Duplex with Large Yards

      Multifamily duplex in Mesa, near attractions and freeways.
      526 S MESA Drive, Mesa, AZ 85210
      View Details

    FAQs

    What type of property is this?
    Commercial land - Retail land for sale on a signalized corner.
    Where is this commercial land located?
    The property is located at 5602 5606 E McKellips Rd Mesa, AZ.
    What is the asking price?
    The asking price for this property is $2,150,000.
    What are key features of this property?
    This property features: Key corner location ideal for fast food, restaurants, or car sales; ±58,313 SF retail land on signalized corner; Located in an opportunity zone
    (480) 966-2301
    We can help!
    Listing Contact
    Rex Griswold
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    5602, 5606 E McKellips Rd, Mesa, AZ 85215
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!