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903-933 E Main St

32,702 SF 55% Leased Retail Building Mesa, AZ 85203 $4,200,000 ($128/SF) 3.99% Cap Rate

Executive Summary

Mesa Matrix is a functioning retail plaza and a potential industrial / warehouse conversion property. This retail shopping plaza has light rail frontage and is located in a designated Opportunity Zone along Main Street near the booming Downtown Mesa city center which makes it ripe for redevelopment and strongly in the path of progress. The subject property has front and rear yard area and 11 ft clear height ceilings, 100% HVAC, front and rear doors. With some very minor improvements, like adding rollup doors, the subject property could be a multi tenant small bay warehouse facility. Additionally, the subject property has 7300sf of vacancy which could be used for an owner user, and other month to month leases at below market rents. Ideal property for an owner user of retail or warehouse needs. Current zoning is LC city of Mesa- which allows uses including: maintenance and repair services, minor automobile service and repair, commercial recreation, general market, large commercial development, retail sales, tattoo, indoor collection facility, and other retail and office uses.

Property Facts

Sale Type
Investment
Property Type
Retail
Property Subtype
Storefront Retail/Office
Building Size
32,702 SF
Building Class
C
Year Built
1973
Price
$4,200,000
Price Per SF
$128
Cap Rate
3.99%
NOI
$167,591
Percent Leased
55%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.48
Lot Size
1.58 AC
Opportunity Zone
Yes
Zoning
LC - Limited Commercial

Amenities

  • Pylon Sign
  • Signage
  • Monument Signage
  • Air Conditioning

Space Availability

  • Space
  • Size
  • Space Use
  • Position
  • Available
  • 929
  • 4,300 SF
  • Retail
  • -
  • Now
  • 933
  • 7,300 SF
  • Retail
  • End Cap
  • Now

This space is a former theater space, approximately 50% of the space is theater seating, stage, ADA restrooms, ticketing, and offices. The remaining 50% of the space is open area for preparations and storage of materials. This would be an ideal theater, club, church, or assembly use space.

  • Warehouse
  • 3,240 SF
  • Industrial
  • -
  • Now
Space Size Space Use Position Available
929 4,300 SF Retail - Now
933 7,300 SF Retail End Cap Now
Warehouse 3,240 SF Industrial - Now

929

Size
4,300 SF
Space Use
Retail
Position
-
Available
Now

933

Size
7,300 SF
Space Use
Retail
Position
End Cap
Available
Now

Warehouse

Size
3,240 SF
Space Use
Industrial
Position
-
Available
Now

933

Size 7,300 SF
Space Use Retail
Position End Cap
Available Now

This space is a former theater space, approximately 50% of the space is theater seating, stage, ADA restrooms, ticketing, and offices. The remaining 50% of the space is open area for preparations and storage of materials. This would be an ideal theater, club, church, or assembly use space.

Bike Score ®
Very Bikeable (86)
What is a Walk Score®, Transit Score® & Bike Score®?
Walk Score® measures the walkability of any address.
Transit Score® measures access to public transit.
Bike Score® measures bikeability of a location.
What is a Walk Score®
, Transit Score® & Bike Score?
Walk Score® measures the walkability
of any address. Transit Score®
measures access to public transit. Bike Score®
measures bikeability of a location.®

Nearby Major Retailers

Bank of America
Denny's
Starbucks
Ymca
La Fitness

PROPERTY TAXES

PROPERTY TAXES

Parcel Numbers
Multiple
  • 138-18-066C
  • 138-18-068A
Land Assessment
$10,321
Improvements Assessment
$0
Total Assessment
$185,151
  • Listing ID: 26624497

  • Date on Market: 9/13/2022

  • Last Updated:

  • Address: 903-933 E Main St, Mesa, AZ 85203

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