235 Country Club DrMesa, AZ 85201

  • Retail properties
  • 5,088 SF
For Sale
$1,600,000 View listing

Property Details for 235 Country Club Dr

Year built
1981
Construction
CONCRETE
Lot size
0.65 AC
Property size (Sq ft)
5,088 SF
Zone code
C-TC
Property type
Retail properties
Property subtype
Retail space
APN
138-57-001A
APU
13857001A

Description

This freestanding, two-story convenience store building presents a compelling investment opportunity in Mesa, Arizona. Located at 235 N Country Club Dr, 85201, this property boasts 9,880 square feet of net rentable space on a 0.649-acre lot (28,286 sq ft). The building features a drive-thru, offering exceptional convenience for customers. With a Class C designation and a NNN lease in place, the property generates a strong net operating income (NOI) of $72,120, resulting in a 4.51% cap rate. The asking price is $1,600,000 ($161.94 per square foot). Currently 100% occupied, the existing tenant is amenable to early termination, providing flexibility for an owner-user or redevelopment. The property benefits from high visibility on Country Club Drive, with 31,650 vehicles passing daily, and enjoys 214 feet of frontage. Situated within Mesa's Downtown Business District, this location offers proximity to numerous national retailers and a robust business community. The property is zoned DB-1 and is offered fee simple. This is a rare opportunity to acquire a well-located retail property with significant upside potential in a thriving market. The potential to acquire the existing business and liquor license adds further value.

Valuation
by Paperhouses methods

Valuation date:
Dec 11, 2024
  • CAP approach

    CAP return
    Valuation
    6%
    $2,371,046
    6.5%
    $2,188,658
    7%
    $2,032,326
  • Comparable approach

    Method
    Valuation
    Relative Method
    $2,892,332
    Geo Method
    $2,892,332
  • Alternative Use

    Use
    Valuation
    Residential
    $1,846,215
    Hospitality
    $1,691,123
    Educational
    $1,406,995
    Medical
    $1,455,383
    Retail
    $2,188,658
235 Country Club Dr, Mesa, Arizona

Location Insight

City
Mesa
County
Maricopa
State
Arizona
Latitude
33.4203
Longitude
-111.84
CBSA code
38060
CBSA name
PHOENIX-MESA-SCOTTSDALE, AZ METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2023
$12,983
-
-
$164,749
-
$358,700
$639,777
$998,477

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