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    1535 University Dr Mesa, AZ 85203

    Sponsored
    For Lease
    $15 SF/Yr ($15,670 /Mo)

    Newly renovated retail space, high visibility.

    Lot size:
    12,536 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This newly renovated, freestanding retail building offers 12,536 square feet of available space, divisible into units as small as 1,092 square feet and up to a contiguous 11,444 square feet. Located in Maricopa County on East University Drive, this property boasts excellent visibility and accessibility due to its prominent location on a major thoroughfare. The building sits on a 32,060 square foot lot and includes 30 parking spaces. Built in 1980, the property has undergone extensive renovations, including a new roof, HVAC system, parking lot, landscaping, lighting, and fresh paint. A substantial tenant improvement (TI) allowance is available for qualified tenants. The property benefits from prominent monument signage on East University Drive, ensuring high visibility for your business. The surrounding area is a vibrant mix of residential neighborhoods, businesses, and educational institutions, providing a strong customer base. Its proximity to downtown Mesa further enhances its appeal. Three-phase power is available. This is an exceptional opportunity for businesses seeking a high-profile location with modern amenities and significant tenant improvement incentives.

    Property Features for 1535 University Dr

    General Information

    Property type
    Individual retail properties
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    12,536 SF
    Total Rate
    15670

    Building Details

    Year Built
    1980

    Unit(s) available at that property

    Space
    Suite 4
    Size
    1,092 SF
    Rate per SF
    $15
    Space
    Suite 1
    Size
    11,444 SF
    Rate per SF
    $15

    HighLights

    • 12,536 SF retail building, fully vacant, available for lease in multiple spaces ranging from 1,092 SF to 11,444 SF.
    • Recently renovated with a new roof, HVAC, parking lot, landscaping, and exterior finishes.
    • Tenant improvement (TI) allowance available for qualified tenants.
    • High‑visibility monument signage on East University Drive.
    Property Profile Location Intelligence

    Current Use by Public Records

    The Wallpaper Market Wallpaper Store Iglesia Renovados en ... Church Templo Ebenezer Mesa Religious Institution Revolution Church Non-Profit Organization

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Mesa
    County
    Maricopa
    State
    Arizona
    Longitude
    -111.7981902
    Latitude
    33.422167

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    FAQs

    What type of property is this?
    Individual retail property - Newly renovated retail space, high visibility.
    Where is this individual retail property located?
    The property is located at 1535 University Dr Mesa, AZ.
    What is the lease rate?
    The lease rate is $15 SF/Yr.
    What are key features of this property?
    This property features: 12,536 SF retail building, fully vacant, available for lease in multiple spaces ranging from 1,092 SF to 11,444 SF.; Recently renovated with a new roof, HVAC, parking lot, landscaping, and exterior finishes.; Tenant improvement (TI) allowance available for qualified tenants.
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    Realmo Value Estimation

    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.

    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.

    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
    1535 University Dr Mesa, AZ 85203
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