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    255 E Southern Ave Mesa, AZ 85210
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    255 E Southern Ave Mesa, AZ 85210

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    • Outlet malls
    • 25,523 SF
    • 0.47 lot acres
    For Lease
    $8 SF/Yr
    View Listing →
    255 E Southern Ave, Mesa, AZ 85210 For Lease
    $8 SF/Yr

    255 E Southern Ave, Mesa, AZ 85210

    Retail property for lease with high traffic volume.

    255 E Southern Ave, Mesa, AZ 85210
    View Listing
    Property ID
    US07-0890883
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    $3,110,000
    Cap Rate Potential
    7.3%
    Outlet malls
    Location Intelligence

    Current Use by Public Records

    • Family Dollar / Discount Store
    • MF Magnaflow / Auto Repair Shop
    • America mufflers / Auto Repair Shop
    • American Mufflers / Auto Repair Shop
    • Safelite AutoGlass / General Contractor / Renovation Specialist

    Property Details for 255 E Southern Ave

    Year built
    1986
    Construction
    CONCRETE
    Lot size
    0.47 lot acres
    Property size
    25,523 SF
    Zone code
    LI
    Property type
    Outlet malls
    Property subtype
    Shopping centers
    APN
    139-48-229
    APU
    13948229

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $3,095,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $3,765,000
      6.5%
      $3,475,000
      7%
      $3,230,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $3,096,000
      Market price range: $3.10M - $9.86M
      AI Estimate
      $3,096,000
      Market price range: $3.10M - $9.86M

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Mesa
    County
    Maricopa
    State
    Arizona
    Longitude
    -111.826
    Latitude
    33.3929
    CBSA code
    38060
    CBSA name
    PHOENIX-MESA-SCOTTSDALE, AZ METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $20,110
    $0.00
    $0.00
    $242,781
    -
    $217,400
    $1,254,000
    $1,471,400

    Comparable in this City

    • Value Estimation
      $4,730,000
      38,997 SF

      119 1st Ave

      WHOLESALE OUTLET, DISCOUNT STORE • 38,997 SF
      119 1st Ave, Mesa, AZ 85210-1311
      View Details
    • Value Estimation
      $3,840,000
      31,650 SF

      1341 Alma School Rd

      WHOLESALE OUTLET, DISCOUNT STORE • 31,650 SF
      1341 Alma School Rd, Mesa, AZ 85210-2085
      View Details
    • Value Estimation
      $4,400,000
      22,880 SF

      1233 Country Clb Dr

      WHOLESALE OUTLET, DISCOUNT STORE • 22,880 SF
      1233 Country Clb Dr, Mesa, AZ 85210-5127
      View Details
    • Value Estimation
      $8,105,000
      20,976 SF

      1056 Country Clb Dr

      WHOLESALE OUTLET, DISCOUNT STORE • 20,976 SF
      1056 Country Clb Dr, Mesa, AZ 85210-4643
      View Details
    • Value Estimation
      $2,105,000
      17,350 SF

      1353 Alma School Rd

      WHOLESALE OUTLET, DISCOUNT STORE • 17,350 SF
      1353 Alma School Rd, Mesa, AZ 85210-2085
      View Details
    • Value Estimation
      $5,770,000
      30,034 SF

      Mesa, AZ 85210

      WHOLESALE OUTLET, DISCOUNT STORE • 30,034 SF
      Mesa, AZ 85210
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      28,383 SF

      Mesa Shopping Center For Sale

      91% occupied shopping center near Fiesta Mall redevelopment.
      2111 S Alma School Rd, Mesa, AZ 85210
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    • Contact for pricing
      5,023 SF

      Mesa Retail NNN Investment Opportunity

      Long-term NNN lease with corporate guaranty in Mesa, Arizona.
      1411 S Country Club Dr, Mesa, AZ 85210
      View Details
    • Contact for pricing
      2,691 SF

      NNN Ground Lease Opportunity

      Long-term NNN ground lease with corporate guaranty.
      1250 S Alma School Rd, Mesa, AZ 85210
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    • Contact for pricing
      1,412 SF

      Retail Property in Mesa, Arizona

      Retail property with 1,412 square feet of space.
      38 S Macdonald, Mesa, AZ 85210
      View Details
    • Contact for pricing

      Turnkey Auto Repair Facility

      Fully equipped auto repair shop in Mesa, ready for operation.
      746 W Southern Ave, Mesa, AZ 85210
      View Details
    • Contact for pricing
      3,395 SF

      Mesa Retail Property For Sale

      Retail property available for purchase in Mesa, Arizona.
      145 W Broadway Rd, Mesa, AZ 85210
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      1,200 SF

      Retail Space Near Walmart

      Retail space available in plaza anchored by Walmart Super Center.
      350 W Baseline Rd, Mesa, AZ 85210
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    • Contact for pricing
      9,164 SF

      Mesa Retail Space For Lease

      Retail space available near US-60, anchored by Ranch Market.
      1036 E Southern Ave, Mesa, AZ 85210
      View Details
    • Contact for pricing
      1,013 SF

      Retail Space Available For Rent

      Retail space available near US-60 and Loop-101.
      2711 S Alma School Rd, Mesa, AZ 85210
      View Details
    • Contact for pricing
      1,096 SF

      Mesa Retail Space For Lease

      Retail space available near US-60, anchored by Ranch Market.
      1116 E Southern Ave, Mesa, AZ 85210
      View Details
    • Contact for pricing
      8,450 SF

      Retail Space in Mesa Center

      Retail space available in shopping center with monument signage.
      2722-2740 S Alma School Rd, Mesa, AZ 85210
      View Details
    • Contact for pricing
      1,926 SF

      Retail Space in Mesa, Arizona

      Retail space available in a Wal-Mart anchored shopping center.
      1855 S Country Club Dr, Mesa, AZ 85210
      View Details
    View Listing
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    255 E Southern Ave
    Mesa, AZ 85210
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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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