1325 Greenfield RdMesa, AZ 85205
- Retail properties
- 6,600 SF
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 properties
- Property subtype
- 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.
Valuation
by Paperhouses methods
- Valuation date:
- Dec 11, 2024
-
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
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
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