Property profile

1241 Broadway Rd Mesa, AZ 85204

OFF-MARKET
Strip malls
Property ID
US07-1022244
5,700 SF 0.68 ac lot Built 1975
Entity Owned 4-yr Hold Absentee Owner ~ Est. High Equity
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Property summary

AI-generated overview

Hillcrest Plaza, located at 1241 E Broadway Rd in Mesa, Arizona, 85204, offers exceptional executive office space for lease. This 27,650 square foot building, constructed in 1975, features a mix of retail and office space, currently offering three available suites ranging from 420 to 940 square feet. The property is categorized as multi-tenant, providing a diverse and vibrant business environment. Its prime location on East Broadway Road ensures high visibility and easy access for clients and employees. The building's design caters specifically to the needs of executive offices, offering a professional and efficient workspace. The available suites are ideal for businesses seeking a well-established presence in a thriving Mesa commercial district. Interested parties are encouraged to inquire about lease terms and specific suite availability. This is a fantastic opportunity to secure high-quality office space in a desirable location. The property's convenient location and established infrastructure make it an attractive option for businesses of all sizes. Further details regarding lease terms and specific suite features are available upon request.

Property profile

Verified
Property type Strip malls
Use group SHOPPING CENTER, STRIP CENTER
Year built 1975
Construction CONCRETE
Total area 5,700 SF
Lot 0.68 ac (29,490 SF)
Zoning code LC
APN 139-03-156F
UPID US07-1022244

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Alternative Medicine Practice
  • (Bike/Boat/Book/etc) Store
  • Specialty Food Shop Fish Market
  • Medical Clinic
  • Atm

Location

1241 Broadway Rd Mesa, AZ 85204-2228
Mesa metro Census 421802 PHOENIX-MESA-SCOTTSDALE, AZ METROPOLITAN STATISTICAL AREA
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Value estimations

Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
$1.65M
Blend (final) Blend
$570k

Owner & transaction history

since 2022
6 recorded transactions
2022
$3.4M
2020
$1.6M
2005
$2.0M
1993
$430,000
1989
Price N/A
1969
Price N/A

Zoning & alternative use

LC · Mesa, AZ
Zoning description

Limited Commercial (LC). To provide areas for indoor retail, entertainment, and service-oriented businesses that serve the surrounding residential trade area within a one (1) to 10-mile radius. Typical uses include, but…

General category COMMERCIAL
Top alternative use upside
Auto repair, garage $2.5M +41.5%

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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