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    1535 University Dr Mesa, AZ 85203

    Sponsored
    For Sale
    $2,100,000

    Newly renovated, multi-tenant retail space.

    Property size:
    12,536 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional 12,536 square foot retail property, located at 1535 E University Dr in Mesa, Arizona (zip code 85203), presents a lucrative investment opportunity. Built in 1980 and situated on a sizable 32,060 square foot lot, the property boasts 30 parking spaces. The building has undergone extensive renovations, including a new roof, HVAC system, parking lot resurfacing, landscaping enhancements, updated lighting, and fresh paint. The property is zoned LC - Mesa, allowing for a variety of retail uses. Its prominent location on East University Drive offers excellent visibility and accessibility, enhanced by a substantial monument sign. The property's strategic position within Mesa places it near a diverse mix of residential areas, businesses, and educational institutions, ensuring a strong customer base. A significant tenant improvement (TI) allowance is available for qualified tenants, making this an attractive proposition for businesses seeking a move-in ready space. This is a rare opportunity to acquire a fully renovated, high-visibility retail center in a thriving Mesa location.

    Property Features for 1535 University Dr

    General Information

    Property type
    Retail properties
    Square Feet
    12,536 SF

    Building Details

    Year Built
    1980

    HighLights

    • $2,100,000 asking price for a 12,536 square foot multi‑tenant retail building.
    • Recently renovated with a new roof, HVAC, parking lot, landscaping, lighting, and paint.
    • Tenant improvement (TI) allowance offered to qualified tenants.
    • High‑visibility monument signage on East University Drive in Mesa, Arizona.
    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?
    Retail property - Newly renovated, multi-tenant retail space.
    Where is this retail property located?
    The property is located at 1535 University Dr Mesa, AZ.
    What is the asking price?
    The asking price for this property is $2,100,000.
    What are key features of this property?
    This property features: $2,100,000 asking price for a 12,536 square foot multi-tenant retail building.; Recently renovated with a new roof, HVAC, parking lot, landscaping, lighting, and paint.; Tenant improvement (TI) allowance offered to qualified tenants.
    Request Owner's contact information
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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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