903-933 Main St Mesa, AZ 85203
- Retail properties
- 31,961 SF
- 2.16 lot acres
Current Use by Public Records
- Retail properties
Property Details for 903-933 Main St
- Lot size
- 2.16 lot acres
- Property size
- 31,961 SF
- Property type
- Retail properties
- Property subtype
- Retail space
Description
This 31,961 square foot multi-tenant retail plaza in Mesa, Arizona, is offered at $4,200,000, representing a 2.98% cap rate and a price per square foot of $131. Currently 68% occupied, the property sits on a 2.16-acre lot (94,324 square feet) with a land value of $44 per square foot. The property features 11-foot clear height ceilings, 100% HVAC, front and rear doors, and ample front and rear yard areas. Zoned LC, City of Mesa, permitted uses include maintenance and repair services, minor auto repair, commercial recreation, general market, large commercial development, retail sales, tattoo parlors, indoor collection facilities, and other retail and office uses. The property's location on Main Street offers light rail frontage and is situated within a designated Opportunity Zone, near the burgeoning Downtown Mesa City Center, making it highly attractive for redevelopment. Approximately 7,300 square feet of vacant space presents an opportunity for an owner-user or lease renegotiation. With minor improvements, such as adding roll-up doors, the property could easily be converted into a multi-tenant small bay warehouse facility. The property boasts a strong location within a 5-mile radius encompassing a population of 532,321 and 147,341 housing units. The existing tenant mix is excellent. The APN is 138-18-066C, 068A.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Mesa
- County
- Maricopa
- State
- Arizona
- Longitude
- -111.812
- Latitude
- 33.4147
