345 ShouseMesa, AZ 85204

Property Details for 345 Shouse

Lot size

0.94 AC

Zone code

RM-3

Property type

Commercial land

APN

138-02-115D

APU

13802115D

Description

This exceptional investment opportunity presents a 0.94-acre parcel in Mesa, Arizona, with approved zoning for a 15-unit multifamily development. The property, located at 345 S Shouse St, 85204, boasts a total of 40,985 square feet and is zoned RM-3, City of Mesa. Previously proposed plans included two two-story buildings comprising eleven three-bedroom units averaging 1,624 square feet and four two-bedroom units averaging 1,447 square feet, totaling 34,099 square feet of living space. Ample parking is provided with 38 spaces, including 15 two-car garages, two compact spaces, one ADA-accessible van space, and three guest spaces. The property's strategic location in the Mesa east submarket offers convenient access to major transportation arteries, including Highway 60 (1.8 miles north), Highway 87 (Country Club Rd, 3.3 miles east), and the Loop 202 South Mountain Freeway (less than 10 miles north). Its proximity to Arizona State University (12 miles west), with its substantial student population (140,759 in 2022), presents a strong potential for rental demand. The asking price is $778,715, translating to $19 per square foot. Buyers are responsible for verifying current zoning requirements and building codes. This is a remarkable chance to acquire a well-situated parcel with significant development potential in a thriving Arizona market. The Maricopa County APN is 138-02-115D.

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $26,726,200

  Retail / Commercial

  $13,711,700

  Mixed-Use / Specialty

  $13,668,100

  Hospitality / Lodging

  $10,034,700

  Office

  $13,592,400

  Institutional / Educational

  $14,211,200

  Residential Income

  $16,627,100

  Multifamily

  $19,912,500

  Automotive / Energy

  $12,181,000

  Parking / Income-Based Land

  $4,198,320

  Restaurant / Food Service

  $7,120,130

  Healthcare / Senior Housing

  $14,011,000

Location Insight

City

Mesa

County

Maricopa

State

Arizona

Latitude

33.4089

Longitude

-111.79

CBSA code

38060

CBSA name

PHOENIX-MESA-SCOTTSDALE, AZ METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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