The Pomeroy Building | 136 W Main St
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The Pomeroy Building 136 W Main St
10,263 SF 76% Leased Retail Building Mesa, AZ 85201 $1,950,000 ($190/SF) 8.86% Cap Rate
Investment Highlights
- Rare opportunity to acquire a high-profile retail / office building in Mesa’s historic downtown core
- Value-add opportunity at 56% occupancy suitable for a variety of retail, restaurant, or office users
- There are current nine (9) new housing (multifamily) projects within a one (1) mile radius of the Property
- Pomeroy family legacy building – deemed historic in 1976
- Potential redevelopment or retrofit in a high-density urban location
Executive Summary
Lee & Associates Commercial Real Estate Services Company (“Exclusive Broker”) is pleased to present a rare opportunity to acquire The Pomeroy Building, a ±10,600 SF, ±56% leased, historic retail building in the historic commercial district of Downtown Mesa. Originally constructed in 1891, The Pomeroy Building is positioned on a corner lot and was one of the first buildings with electricity in Mesa. Located at 136 West Main Street, Mesa, AZ (the “Property”). The Property is leased to a dynamic mix of tenants with retail on the first floor and a mix of office uses on the second floor. A creative investor may choose to increase the current yield through lease up and market renewal rates or may look a retrofit suited for a variety of different users. This opportunity gives qualified investors the chance to acquire a historic, value-add asset in the reviving submarket of Downtown Mesa with immediate upside.
Data Room Click Here to Access
- Offering Memorandum
Financial Summary (Actual - 2023) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$210,657
|
$20.53
|
| Other Income |
$33,560
|
$3.27
|
| Vacancy Loss |
$30,000
|
$2.92
|
| Effective Gross Income |
$214,217
|
$20.87
|
| Taxes |
$7,250
|
$0.71
|
| Operating Expenses |
$52,039
|
$5.07
|
| Total Expenses |
$59,289
|
$5.78
|
| Net Operating Income |
$154,928
|
$15.10
|
Financial Summary (Actual - 2023)
| Gross Rental Income | |
|---|---|
| Annual | $210,657 |
| Annual Per SF | $20.53 |
| Other Income | |
|---|---|
| Annual | $33,560 |
| Annual Per SF | $3.27 |
| Vacancy Loss | |
|---|---|
| Annual | $30,000 |
| Annual Per SF | $2.92 |
| Effective Gross Income | |
|---|---|
| Annual | $214,217 |
| Annual Per SF | $20.87 |
| Taxes | |
|---|---|
| Annual | $7,250 |
| Annual Per SF | $0.71 |
| Operating Expenses | |
|---|---|
| Annual | $52,039 |
| Annual Per SF | $5.07 |
| Total Expenses | |
|---|---|
| Annual | $59,289 |
| Annual Per SF | $5.78 |
| Net Operating Income | |
|---|---|
| Annual | $154,928 |
| Annual Per SF | $15.10 |
Property Facts
Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Storefront Retail/Office
Building Size
10,263 SF
Building Class
B
Year Built
1927
Price
$1,950,000
Price Per SF
$190
Cap Rate
8.86%
NOI
$172,838
Percent Leased
76%
Tenancy
Multiple
Building Height
2 Stories
Building FAR
1.31
Lot Size
0.18 AC
Opportunity Zone
Yes
Zoning
DC-DE - DC (Downtown Core District) & DE (Downtown Events Overlay. Located within the overlay, Form Based Code (FBC).
Frontage
80 FT on Main Street
Amenities
- Bus Line
- Corner Lot
- Tenant Controlled HVAC
- Air Conditioning
MAJOR TENANTS
- Tenant
- Industry
- SF OCCUPIED
- RENT/SF
- Lease Type
- Lease End
- Pomeroy's Mens Stores
- Retailer
- 2,500 SF
- $26.40
- Triple Net
- Sep 2029
Wayne and Cecil Pomeroy in a parade during his term as Mayor of Mesa. During this time, Pomeroy’s have seen many changes occur around us, it has seen many companies come and go, but have survived them all to continue bringing the finest in men’s clothing to the city of Mesa and now the world.
| Tenant | Industry | SF OCCUPIED | RENT/SF | Lease Type | Lease End | |
| Pomeroy's Mens Stores | Retailer | 2,500 SF | $26.40 | Triple Net | Sep 2029 |
Walk Score ®
Very Walkable (81)
Bike Score ®
Biker's Paradise (92)
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 138-35-023 | Total Assessment | $58,484 (2025) |
| Land Assessment | $0 (2025) | Annual Taxes | $7,250 ($0.71/SF) |
| Improvements Assessment | $0 (2025) | Tax Year | 2023 Payable 2024 |
PROPERTY TAXES
Parcel Number
138-35-023
Land Assessment
$0 (2025)
Improvements Assessment
$0 (2025)
Total Assessment
$58,484 (2025)
Annual Taxes
$7,250 ($0.71/SF)
Tax Year
2023 Payable 2024
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The Pomeroy Building | 136 W Main St
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