For Sale
$3,778,854

2110 Southern AveMesa, AZ 85202

High-Yield Shopping Center, 5 Tenants, 6% Cap Rate

Overview

Added:
Dec 11, 2024
Days on market:
116
This exceptional 10,475 square foot multi-tenant retail shopping center presents a compelling investment opportunity in Mesa, Arizona. Located at 2110 W Southern Ave, 85202, this property boasts a strong 6.00% capitalization rate and a Net Operating Income (NOI) of $226,731. The asking price is $3,778,854, translating to a price per square foot of $360.75. The property features five established tenants: Little Caesars, Firehouse Subs, ABC Children’s Eye Specialists, Disco Nail club, and Dogos y Tacos El Gordo, ensuring a stable income stream. The Absolute NNN lease structure minimizes landlord responsibilities. Situated on a 38,219 square foot lot (APN 134-42-228H), the plaza benefits from its prime location directly across Southern Avenue from Banner Hospital, a major employer with approximately 3,700 employees. Furthermore, the property enjoys proximity to Mesa Community College, with over 29,000 students, and serves a high-income demographic with average household incomes exceeding $95,000 within a three-mile radius. The leases demonstrate strong annual increases during initial terms and option periods, promising continued growth and return on investment. This is a rare opportunity to acquire a well-positioned, high-performing retail asset in a thriving market.

Highlights

  • Significant rental rate growth potential with strong lease escalations.
  • High-traffic location directly across from Banner Hospital, a major employer with approximately 3,700 employees.
  • Desirable demographics with average household incomes exceeding $95,000 within a three-mile radius.
  • Proximity to Mesa Community College, a large institution with over 29,000 students.

Property Details for 2110 Southern Ave

Property type
Lifestyle centers, Power centers
Square Feet
10,475 SF

Location Insight

City
Mesa
County
Maricopa
State
Arizona
Latitude
33.3935893
Longitude
-111.8770733
2110 Southern Ave, Mesa, Arizona

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2110 Southern Ave
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