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    SR-24 Swc Mesa, AZ 85212

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    SR-24 Swc Mesa, AZ 85212

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    • Retail properties & Spaces
    • 267,854 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail properties & Spaces

    Property Details for SR-24 Swc

    Property size
    267,854 SF
    Property type
    Retail properties & Spaces
    Property subtype
    Restaurants

    Description

    This exceptional retail and restaurant property, located at the southwest corner of Ellsworth Road and SR-24 in Mesa, Arizona (zip code 85212), offers a significant investment opportunity. The four-story building boasts a total of 267,854 square feet, with 16 individual suites available for lease. Currently, a substantial 252,854 square feet is vacant, presenting a unique chance to establish or expand a business in a high-demand area. The minimum leasable space is 6,000 square feet, while the maximum contiguous space available is 88,301 square feet, catering to a wide range of business needs. The property sits on a large 400-acre lot, ensuring ample space and visibility. The property is categorized as retail and restaurant, with subtypes including hotel and shops, making it suitable for a diverse range of commercial ventures. Its strategic location at a major intersection in Maricopa County guarantees high traffic volume and excellent exposure. This is an unparalleled opportunity to secure a prominent presence in a thriving Mesa commercial district. The property's size and flexibility make it ideal for a variety of uses, from individual retail spaces to large-scale restaurant operations or even a mixed-use development. Don't miss this chance to acquire a substantial and versatile commercial property in a prime location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Mesa
    County
    Maricopa
    State
    Arizona
    Longitude
    -111.636
    Latitude
    33.3646

    Comparable in this City

    • Value Estimation by Request
      206,631 SF

      Ellsworth Rd & Ray Rd

      Restaurants • 206,631 SF
      0 Ellsworth Rd & Ray Rd, Mesa, AZ 85212
      View Details
    • Value Estimation by Request
      202,174 SF

      SWC Hawes Rd & Elliot Rd

      Restaurants • 202,174 SF
      SWC Hawes Rd & Elliot Rd, Mesa, AZ 85212
      View Details
    • Value Estimation by Request
      100,000 SF

      6321 Ellsworth Rd

      Restaurants • 100,000 SF
      6321 Ellsworth Rd, Mesa, AZ 85212
      View Details
    • Value Estimation
      $15,740,000
      52,962 SF

      6907 Ray Rd

      HOTEL • 52,962 SF
      6907 Ray Rd, Mesa, AZ 85212-5833
      View Details
    • Value Estimation
      $12,435,000
      62,745 SF

      4470 Power Rd

      HOTEL • 62,745 SF
      4470 Power Rd, Mesa, AZ 85212-3632
      View Details
    • Value Estimation by Request
      1.29 Acres

      Crismon Rd

      Restaurants • 1.29 Acres
      0 Crismon Rd, Mesa, AZ 85212
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Mesa End Cap Retail Space

      End cap space in thriving Mesa retail center for sale.
      Swc Hawes Rd & Guadalupe Rd, Mesa, AZ 85212
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    • Contact for pricing
      3,300 SF

      Drive-Thru or Endcap Space Available

      Freestanding drive-thru or endcap space for lease or ground lease.
      8108 E Elliot Rd, Mesa, AZ 85212
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    • Contact for pricing
      7,300 SF

      Retail and Drive-Thru Opportunities

      Retail and drive-thru spaces available in mixed-use development.
      8144 E Elliot Rd, Mesa, AZ 85212
      View Details
    • Contact for pricing
      7,300 SF

      Retail Space Near Gateway Airport

      Retail space available near Phoenix-Mesa Gateway Airport.
      8116 E Elliot Rd, Mesa, AZ 85212
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    • Contact for pricing
      2,100 SF

      Mixed-Use Development Opportunity

      New ±11.6 acre mixed-use development for sale.
      8140 E Elliot Rd, Mesa, AZ 85212
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Ellsworth Rd & SR-24 Retail

      Retail and restaurant spaces for lease at Ellsworth Rd & SR-24.
      SR-24 Swc, Mesa, AZ 85212
      View Details
    • Contact for pricing
      3,442 SF

      Restaurant Space Near Morrison Ranch

      Second generation restaurant space with fully built-out kitchen available.
      7641-7659 E Guadalupe Rd, Mesa, AZ 85212
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      2,094 SF

      Prime Retail Pad Sites Available

      Last available retail pad sites in high-traffic Eastmark trade area.
      10115 E Williams Field Rd, Mesa, AZ 85212
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    • Contact for pricing
      7,000 SF

      Retail Space Near Tech Corridor

      Retail space in Mesa's Elliot Road Tech Corridor.
      10702 E Elliot Rd, Mesa, AZ 85212
      View Details
    • Contact for pricing
      1,800 SF

      Retail Space on Power Road

      Retail space with high visibility and frontage on Power Road.
      4513 S Power Rd, Mesa, AZ 85212
      View Details
    • Contact for pricing
      7,800 SF

      Retail Space in Eastmark Community

      Retail space with active courtyard in a growing community.
      9410 E Ray Rd, Mesa, AZ 85212
      View Details
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    SR-24 Swc
    Mesa, AZ 85212
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    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
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