1325 Greenfield RdMesa, AZ 85205

Property Details for 1325 Greenfield Rd

Year built

2005

Construction

STEEL FRAME

Lot size

0.99 AC

Property size (Sq ft)

6,600 SF

Zone code

LC

Property type

Retail space

APN

141-33-130

APU

14133130

Description

This exceptional 6,600 square foot shopping center in Mesa, Arizona, presents a compelling investment opportunity. Located at 1325 N Greenfield Rd, within the Mountain View Plaza, this single-story, 2003-built property boasts 100% occupancy with two strong tenants under a triple-net (NNN) lease. The current lease has 11 years remaining, generating a substantial net operating income (NOI) of $170,493 and a 6.25% cap rate. The asking price is $2,728,000, translating to $413.33 per square foot. Situated on a 42,963 square foot lot with excellent visibility and ample parking, the property benefits from a prominent monument sign and high traffic counts due to its location near the northeast corner of N. Greenfield Road and E. Brown Road. One tenant, Cracker's Café, has been a fixture since the building's construction in 2005, and has expanded to other locations. The other tenant, Milan Laser, operates a large network of clinics across the country. The property is zoned LC - Limited Commercial and offers a stable, core investment with long-term potential. This is a rare opportunity to acquire a well-established, high-performing retail center in a prime Mesa location.

• CAP approach

  CAP return

  Valuation

  6%

  $3,075,650

  6.5%

  $2,839,062

  7%

  $2,636,272

• Comparable approach

  Method

  Valuation

  Relative Method

  $3,751,846

  Geo Method

  $3,751,846

• Alternative Use

  Use

  Valuation

  Residential

  $2,394,855

  Hospitality

  $2,193,674

  Educational

  $1,825,111

  Medical

  $1,887,879

  Retail

  $2,839,062

Location Insight

City

Mesa

County

Maricopa

State

Arizona

Latitude

33.4397

Longitude

-111.736

CBSA code

38060

CBSA name

PHOENIX-MESA-SCOTTSDALE, AZ METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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