303 Southern AveMesa, AZ 85210

Property Details for 303 Southern Ave

Year built

1986

Construction

CONCRETE

Lot size

5.34 AC

Property size (Sq ft)

16,440 SF

Zone code

LC

Property type

Retail properties

Property subtype

Strip malls

APN

139-48-297D

APU

13948297D

Description

This exceptional industrial property in Mesa, Arizona, presents a compelling investment opportunity. Located at 303 W Southern Ave, this Class B complex comprises two 36,500 square foot buildings totaling 73,500 square feet on a 4.52-acre lot. Priced below replacement cost, this property offers significant value. Seventy-five percent of the space will be vacant upon closing, providing immediate occupancy for an owner-user. Alternatively, the property is currently configured for one to three tenants, allowing for a blend of owner-occupancy and leasing income. Building A features approximately 3,500 square feet of renovated office space (2019), 18-foot clear height, five 16'x12' grade-level loading doors, fire sprinklers, and 3-phase 400-amp power. Building B offers seven 16'x12' grade-level loading doors, 19-22-foot clear height, fire sprinklers, and single-phase 200-amp power. A portion of Building B (18,000 SF) is currently leased through April 2025, providing short-term income. The property boasts a large, fenced, and secured 1.64-acre yard, twelve oversized (16'x12') drive-through loading doors, and excellent freeway access with frontage on Southern Avenue. Light industrial zoning allows for diverse uses. This property is perfect for owner-users seeking to expand or consolidate operations, or investors looking for a strong value-add opportunity in a prime location. The asking price is $11,000,000.

• CAP approach

  CAP return

  Valuation

  6%

  $7,661,164

  6.5%

  $7,071,844

  7%

  $6,566,712

• Comparable approach

  Method

  Valuation

  Relative Method

  $9,345,509

  Geo Method

  $9,345,509

• Alternative Use

  Use

  Valuation

  Residential

  $5,965,365

  Hospitality

  $5,464,242

  Educational

  $4,546,186

  Medical

  $4,702,536

  Retail

  $7,071,844

Location Insight

City

Mesa

County

Maricopa

State

Arizona

Latitude

33.3924

Longitude

-111.824

CBSA code

38060

CBSA name

PHOENIX-MESA-SCOTTSDALE, AZ METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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