136 W Main St, Unit | Mesa Mesa, AZ 85201

Property Details for 136 W Main St

Year built

1927

Construction

CONCRETE

Lot size

0.17 lot acres

Property size

10,263 SF

Zone code

C-DT

Property type

Retail space

APN

138-35-023

APU

13835023

Description

This exceptional mixed-use property, The Pomeroy Building, presents a compelling value-add investment opportunity in the heart of Downtown Mesa, Arizona. Built in 1891, this historic two-story building boasts 10,600 square feet situated on a 7,187 square foot lot at 136 W Main St, Mesa, AZ 85201. Currently 56% occupied with 11 tenants, the property offers a compelling mix of retail space on the ground floor and office space on the second floor. The building's permitted zoning (DC-CE, City of Mesa) allows for a variety of uses, presenting a unique chance for creative redevelopment or retrofitting to suit diverse tenants. With a current asking price of $1,950,000 ($183.96/sq ft), a pro-forma NOI of $172,838, and a pro-forma cap rate of 8.86%, this fee-simple ownership presents significant upside potential. The property's location within a revitalized area, coupled with the presence of nine new multifamily projects within a one-mile radius, further enhances its investment appeal. This is a rare chance to acquire a piece of Mesa's history and capitalize on the area's ongoing growth. The property is a NNN lease type with fourteen units in total.