7045 Main StMesa, AZ 85207

Property Details for 7045 Main St

Year built

1958

Lot size

2.07 AC

Property size (Sq ft)

2,144 SF

Zone code

LC

Property type

Gas stations

APN

218-19-070

APU

21819070

Description

This exceptional 2.07-acre commercial property in Mesa, Arizona, presents a unique investment opportunity. Located at 7045 East Main Street, this property boasts a 2,144 square foot building currently operating as a fully occupied auto repair and sales business. The property's history includes a former gas station, with all underground storage tanks (USTs) having been permanently removed in 1988, as confirmed by ADEQ reports. The building features a convenient canopy. The spacious lot also includes a rear area currently used for construction equipment storage. The property is zoned [LC] Limited Commercial District, with auto use grandfathered in. Situated at a high-traffic intersection of Power Road and East Main Street in the Red Mountain/East Valley submarket, this location offers excellent visibility and accessibility. The asking price is $1,200,000, translating to $559.70 per square foot. Property taxes for 2023 were $8,820. The building was constructed in 1958 and is classified as Class C. This fee-simple ownership opportunity offers significant potential for various commercial uses. The property's size and location make it an ideal investment for entrepreneurs and investors seeking a high-return property in a thriving area. The APN is 218-19-070.

• CAP approach

  CAP return

  Valuation

  6%

  $999,120

  6.5%

  $922,265

  7%

  $856,389

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,218,782

  Geo Method

  $1,218,782

• Alternative Use

  Use

  Valuation

  Residential

  $777,965

  Hospitality

  $712,612

  Educational

  $592,885

  Medical

  $613,275

  Retail

  $922,265

Location Insight

City

Mesa

County

Maricopa

State

Arizona

Latitude

33.4147

Longitude

-111.679

CBSA code

38060

CBSA name

PHOENIX-MESA-SCOTTSDALE, AZ METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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