Freestanding Retail Building For
1535 E University Dr Mesa, AZ 85203
1535 E University Dr, Mesa, AZ, 85203
Contact for pricing
For Sale
Contact for pricing
Newly renovated retail building on major thoroughfare, excellent visibility.
Property Size12,536 SF
Price / SF$159.54
Days on Market732
Property Features for 1535 E University Dr
General Information
- Standard status
- Active
- Size
- 12,536 SF
- Property subtype
- Retail
Building Details
- Year Built
- 1980
Listing agency
Commercial Properties Inc.
(480) 522-2774
Listed by
Dallin Pace · License #AZ BR676008000
Source
Crexi
Added: Jul 22, 2024 Updated: Jul 6 at 7:39AM Checked: Jul 22 at 1:30PM
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.
Investment Insights
Based on property information with market context.
A newly renovated freestanding retail building is available for sale, subject to a 60-day notice. The property is situated on a major thoroughfare, offering excellent visibility and accessibility. The surrounding area features a diverse mix of residential neighborhoods, businesses, and educational institutions. Its central location provides convenient access to downtown Mesa. The property size is 12536 square feet.
Key Highlights
- Newly renovated freestanding retail building.
- Excellent visibility and accessibility on a major thoroughfare.
- Central location with easy access to downtown Mesa.
Local Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $170.0k | $13.56 |
| − Vacancy | −$11.4k | −$0.91 |
| EGI | $158.6k | $12.65 |
| − OpEx | −$47.6k | −$3.80 |
| NOI | $111.0k | $8.86 |
12,536 SF · lease $13.56/SF/yr · vacancy 6.70% · expense 30.00%
Alternative Uses
Best Use
Retail
$1.59M
$1.39M – $1.85M
NOI $111,019 @ 7.0% cap · market cap 5.55%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.44M
$3.01M – $4.01M
NOI $240,535 @ 7.0% cap · market cap 12.03%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
The Wallpaper Market
(Bike/Boat/Book/etc) Store
Iglesia Renovados en ...
Church
Templo Ebenezer Mesa
Church
Revolution Church
Charitable Organization
Similar For Sale Nearby
FAQs
What type of property is this?
Retail space - Newly renovated retail building on major thoroughfare, excellent visibility.
Where is this retail space located?
The property is located at 1535 E University Dr Mesa, AZ.
What is the asking price?
The asking price for this property is $2,000,000.
What are key features of this property?
This property features: Newly renovated freestanding retail building.; **Excellent visibility and accessibility** on a major thoroughfare.; Central location with easy access to downtown Mesa.
