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Property profile & analytics
FOR SALE
Outlet malls

6631 E Southern Ave Mesa, AZ 85206

23,484 SF 2.08 ac lot Built 1994
Entity Owned 3-yr Hold ~ Est. High Equity
Property ID
US07-3417292
Property summary
AI-generated overview

This exceptional investment opportunity presents a single-tenant, net-leased OfficeMax storefront in Mesa, Arizona. Located at 6631 E. Southern Ave, this 23,500 square foot Class B building sits on a 2.08-acre lot and boasts a 6.20% cap rate. The property features a long-term lease with OfficeMax, a nationally recognized tenant, providing a stable income stream. The lease, an absolute NNN with a corporate guarantee, commenced November 7, 1994, and has a remaining term of approximately 5 years with four 5-year renewal options. The building, constructed in 1994, enjoys 100% occupancy and a strong NOI of $263,435. The asking price is $4,250,000, translating to $180.85 per square foot. This fee-simple ownership offers minimal landlord responsibilities, high visibility from Southern Avenue (50,000 vehicles per day), and proximity to Superstition Springs Mall. The property's location in a high-traffic commercial corridor within a rapidly growing area of Mesa ensures consistent performance and long-term value. The permitted zoning is LC. This is a 1-story building with excellent potential for a 1031 exchange.

Property profile
Verified
Property type Outlet malls
Use group WHOLESALE OUTLET, DISCOUNT STORE
Year built 1994
Construction CONCRETE
Total area 23,484 SF
Lot 2.08 ac (90,673 SF)
Zoning code LC
APN 141-54-035A
UPID US07-3417292
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
  • FedEx Drop Box Postal Service Courier Service
  • OfficeMax Print & Copy Services (Bike/Boat/Book/etc) Store Printing Service
  • Coinhub Bitcoin ATM Teller Atm
  • FedEx ShipSite Postal Service Courier Service
  • OfficeMax (Bike/Boat/Book/etc) Store
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
$3.20M
Comparable Approach Comparable
by Request
Blend (final) Blend
$3.44M
Owner & transaction history
Arg Group LLC · 3 yrs held
Arg Group LLC
since 2023
Last sale
$3.5M
5 recorded transactions
2023
$3.5M
2018
$1.4M
2017
Price N/A
2007
$3.8M
1995
$2.5M
Zoning & alternative use
LC · Mesa, AZ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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