345 Shouse Mesa, AZ 85204
- Commercial land
- 0.94 lot acres
Current Use by Public Records
- Commercial land
Property Details for 345 Shouse
- Lot size
- 0.94 lot acres
- Zone code
- RM-3
- Property type
- Commercial land
- APN
- 138-02-115D
- APU
- 13802115D
Description
This exceptional investment opportunity presents a 0.94-acre parcel in Mesa, Arizona, with approved zoning for a 15-unit multifamily development. The property, located at 345 S Shouse St, 85204, boasts a total of 40,985 square feet and is zoned RM-3, City of Mesa. Previously proposed plans included two two-story buildings comprising eleven three-bedroom units averaging 1,624 square feet and four two-bedroom units averaging 1,447 square feet, totaling 34,099 square feet of living space. Ample parking is provided with 38 spaces, including 15 two-car garages, two compact spaces, one ADA-accessible van space, and three guest spaces. The property's strategic location in the Mesa east submarket offers convenient access to major transportation arteries, including Highway 60 (1.8 miles north), Highway 87 (Country Club Rd, 3.3 miles east), and the Loop 202 South Mountain Freeway (less than 10 miles north). Its proximity to Arizona State University (12 miles west), with its substantial student population (140,759 in 2022), presents a strong potential for rental demand. The asking price is $778,715, translating to $19 per square foot. Buyers are responsible for verifying current zoning requirements and building codes. This is a remarkable chance to acquire a well-situated parcel with significant development potential in a thriving Arizona market. The Maricopa County APN is 138-02-115D.
Value Estimation
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Mesa
- County
- Maricopa
- State
- Arizona
- Longitude
- -111.79
- Latitude
- 33.4089
- CBSA code
- 38060
- CBSA name
- PHOENIX-MESA-SCOTTSDALE, AZ METROPOLITAN STATISTICAL AREA
