6631 E Southern Ave Mesa, AZ 85206

Property Details for 6631 E Southern Ave

Year built

1994

Construction

CONCRETE

Lot size

2.08 lot acres

Property size

23,484 SF

Zone code

LC

Property type

Outlet malls

APN

141-54-035A

APU

14154035A

Description

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.

Location Insight

City

Mesa

County

Maricopa

State

Arizona

Longitude

-111.688

Latitude

33.3932

CBSA code

38060

CBSA name

PHOENIX-MESA-SCOTTSDALE, AZ METROPOLITAN STATISTICAL AREA

Property Tax & Assessments