6631 Southern AveMesa, AZ 85206

Property Details for 6631 Southern Ave

Year built

1994

Construction

CONCRETE

Lot size

2.08 AC

Property size (Sq ft)

23,484 SF

Zone code

LC

Property type

Retail properties

Property subtype

Outlet malls

APN

141-54-035A

APU

14154035A

Description

This exceptional investment opportunity presents a single-tenant, net-leased OfficeMax storefront in Mesa, Arizona. Located at 6631 E. Southern Ave, this 23,500 square foot Class B building sits on a 2.08-acre lot and boasts a 6.20% cap rate. The property features a long-term lease with OfficeMax, a nationally recognized tenant, providing a stable income stream. The lease, an absolute NNN with a corporate guarantee, commenced November 7, 1994, and has a remaining term of approximately 5 years with four 5-year renewal options. The building, constructed in 1994, enjoys 100% occupancy and a strong NOI of $263,435. The asking price is $4,250,000, translating to $180.85 per square foot. This fee-simple ownership offers minimal landlord responsibilities, high visibility from Southern Avenue (50,000 vehicles per day), and proximity to Superstition Springs Mall. The property's location in a high-traffic commercial corridor within a rapidly growing area of Mesa ensures consistent performance and long-term value. The permitted zoning is LC. This is a 1-story building with excellent potential for a 1031 exchange.

Location Insight

City

Mesa

County

Maricopa

State

Arizona

Latitude

33.3932

Longitude

-111.688

CBSA code

38060

CBSA name

PHOENIX-MESA-SCOTTSDALE, AZ METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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