6149 Southern Ave Mesa, AZ 85206-3734
Property profile & analytics
6149 Southern Ave Mesa, AZ 85206-3734
- Turn key restaurants
- 8,411 SF
- 1.08 lot acres
Property ID
US07-1178983
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.
Location Intelligence
Current Use by Public Records
- Turn key restaurants
Property Details for 6149 Southern Ave
- Year built
- 1993
- Construction
- CONCRETE
- Lot size
- 1.08 lot acres
- Property size
- 8,411 SF
- Zone code
- C-G
- Property type
- Turn key restaurants
- APN
- 141-54-057
- APU
- 14154057
Description
This exceptional investment opportunity presents the fee simple ownership of a Red Lobster restaurant in Mesa, Arizona. The property boasts 8,411 square feet on a 1.08-acre lot, featuring 62 parking spaces. Built in 1993, this single-tenant, absolute NNN leased property offers a substantial remaining lease term of approximately 15.7 years, with four 5-year renewal options. The lease commenced August 1, 2015, and expires August 1, 2040, ensuring long-term income stability. The current asking price is $5,670,000, representing an attractive 8.00% cap rate and a strong NOI of $453,600. The lease includes 2% annual rent bumps, providing inflation protection. The property is located at a signalized intersection on E Southern Ave, a major retail thoroughfare, with high visibility and significant traffic volume. It's an outparcel to a Walmart Supercenter and enjoys proximity to other major retailers, including a shopping mall with anchors like Macy's and Best Buy, as well as Costco and Target. The property's location within a densely populated area with high average household income further enhances its investment appeal. The permitted zoning is LC (Limited Commercial), and the APN is 141-54-057. This is a management-free investment opportunity with significant upside potential. The property is currently 100% occupied.
Value Estimations
based on Realmo’s proprietary methodology
-
AI approach
- Method
- Estimation
- Statistic approach
- $4,190,000
-
Comparable approach
- Method
- Estimation
- Statistic Estimate
- $4,112,000
- AI Estimate
- $3,930,000
Market price range: $2.22M - $9.95MMarket price range: $2.12M - $9.95M -
Alternative Use
- Use
- Estimation
- RESTAURANT
- $5,385,000 Current use
- COMMERCIAL (GENERAL)
- $5,395,000 Change: +0% Conversion: Easy
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- City
- Mesa
- County
- Maricopa
- State
- Arizona
- Longitude
- -111.698
- Latitude
- 33.3935
- 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
$24,998
$0.00
$0.00
$442,786
-
$1,174,700
$1,508,852
$2,683,552
