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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    3617 E Southern Ave Mesa, AZ 85206

    • Strip malls
    • 15,397 SF
    • 7.86 lot acres
    For Lease
    View listing
    Last Sale
    May 08, 2025
    $10,000,000
    Value Estimations
    $8,425,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US07-2296646
    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.

    Current Use by Public Records

    • Arizona Contractor License Center / Trade School / Book Store
    • Friends In Style / Hair Salon
    • NEW LIFE CHRISTIAN FELLOWSHIPS INTERNATIONAL / Religious Organization
    • Gyro House Mesa / Mediterranean Restaurant
    • Permanent Record Ink / Tattoo Shop / Health And Beauty Shop

    Property Details for 3617 E Southern Ave

    Year built
    1988
    Construction
    CONCRETE
    Lot size
    7.86 lot acres
    Property size
    15,397 SF
    Zone code
    LC
    Property type
    Strip malls
    Property subtype
    Neighborhood centers
    APN
    140-57-345A
    APU
    14057345A

    Description

    Val Vista Crossing, located at 3617 E Southern Ave, Mesa, AZ 85206, presents a compelling retail investment opportunity. This well-situated strip center boasts a total building area of 137,241 square feet and sits on a substantial 483,639 square foot lot in Maricopa County. The property is conveniently located off US-60 at Val Vista Drive, ensuring high visibility and accessibility for potential tenants and customers. Currently, there are multiple spaces available, with the minimum divisible space measuring 1,245 square feet and larger spaces available up to 19,960 square feet. A total of 2,873 square feet is currently vacant, offering immediate opportunities for lease income generation. The property's strategic location and flexible space options make it ideal for a variety of retail businesses. This is a rare chance to acquire a well-established retail center in a thriving Arizona market. The property's size and location provide significant potential for long-term growth and return on investment. Serious inquiries are encouraged to explore this exceptional opportunity further.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $8,140,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $9,281,000
      Market price range: $2.05M - $10.1M
      AI Estimate
      $8,561,000
      Market price range: $2.05M - $9.45M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $9,880,000
      RESTAURANT
      $9,855,000
      AUTO REPAIR, GARAGE
      $6,785,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Mesa
    County
    Maricopa
    State
    Arizona
    Longitude
    -111.752
    Latitude
    33.3927
    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
    $76,690
    $0.00
    $0.00
    $1,012,688
    -
    $2,769,100
    $3,368,400
    $6,137,500

    Comparable in this City

    • Value Estimation
      $3,670,000
      5,533 SF

      6247 Southern Ave Ste, Unit 101

      SHOPPING CENTER, STRIP CENTER • 5,533 SF
      6247 Southern Ave Ste, Mesa, AZ 85206-3755
      View Details
    • Value Estimation by Request
      11,460 SF

      3614 Southern Ave

      SHOPPING CENTER, STRIP CENTER • 11,460 SF
      3614 Southern Ave, Mesa, AZ 85206-2509
      View Details
    • Value Estimation by Request
      11,498 SF

      6610 Baseline Rd Ste, Unit 103

      SHOPPING CENTER, STRIP CENTER • 11,498 SF
      6610 Baseline Rd Ste, Mesa, AZ 85206-4441
      View Details
    • Value Estimation by Request
      11,498 SF

      6610 Baseline Rd Ste, Unit 105

      SHOPPING CENTER, STRIP CENTER • 11,498 SF
      6610 Baseline Rd Ste, Mesa, AZ 85206-4441
      View Details
    • Value Estimation by Request
      11,498 SF

      6610 Baseline Rd Ste, Unit 109

      SHOPPING CENTER, STRIP CENTER • 11,498 SF
      6610 Baseline Rd Ste, Mesa, AZ 85206-4441
      View Details
    • Value Estimation by Request
      16,032 SF

      5110 Southern Ave

      SHOPPING CENTER, STRIP CENTER • 16,032 SF
      5110 Southern Ave, Mesa, AZ 85206-2791
      View Details

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      Mesa Retail Property For Sale

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    Similar Nearby for Lease

    • $15 SF/Yr
      4,503 SF

      Mesa Retail Space For Lease

      Retail space for lease with excellent parking and freeway access.
      5959 E Southern Ave, Mesa, AZ 85206
      View Details
    • Contact for pricing
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      Mesa Retail Space For Lease

      Retail space available in Mesa, built in 2005.
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      View Details
    • $38 SF/Yr
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      Retail Space Near Supercenter

      Retail space available near Superstition Freeway and Walmart Supercenter.
      1766 S Greenfield Rd, Mesa, AZ 85206
      View Details
    • Contact for pricing
      21,320 SF

      Superstition Springs Power Center Retail

      Retail space in a large power center with freeway access.
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    • Contact for pricing
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      Retail Space in Power Center

      Retail space available in a multi-anchored power center.
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      View Details
    • Contact for pricing
      13,448 SF

      Mesa Retail Center: Power & Baseline

      High-traffic Mesa retail space, 5 units available.
      0 Swc Power Rd & Baseline Rd, Mesa, AZ 85206
      View Details
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    3617 E Southern Ave
    Mesa, AZ 85206
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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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