For Sale
$4,250,000

6631 Southern AveMesa, AZ 85206

Mesa, AZ Retail Property - 6.2% CAP

Overview

Added:
Dec 11, 2024
Days on market:
117
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.

Highlights

  • No landlord responsibilities.
  • Long-term tenant in place since 1994 with renewal options.
  • Corporate guaranteed lease.
  • High visibility from Southern Avenue.
  • High traffic count: 50,000 vehicles per day on Southern Avenue and Power Road.
  • Excellent location adjacent to Superstition Springs Mall.

Property Details for 6631 Southern Ave

Property type
Retail properties, Retail space
Square Feet
23,500 SF
Class
B
Year Built
1994
Buildings
1
Stories
1
Lot Size (sq. ft)
90,605 SF
Units
1

Location Insight

City
Mesa
County
Maricopa
State
Arizona
Latitude
33.3930251
Longitude
-111.6877804
6631 Southern Ave, Mesa, Arizona

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6631 Southern Ave
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