1325 Greenfield RdMesa, AZ 85205

  • Retail properties
  • 6,600 SF
For Sale
$2,728,000 View listing

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
1325 Greenfield Rd, Mesa, Arizona

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

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
$18,794
-
-
$330,701
-
$1,075,800
$928,449
$2,004,249

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