2110 Southern AveMesa, AZ 85202

Property Details for 2110 Southern Ave

Year built

1977

Construction

CONCRETE

Lot size

0.88 AC

Property size (Sq ft)

10,341 SF

Zone code

LC

Property type

Retail properties

Property subtype

Strip malls

APN

134-42-228H

APU

13442228H

Description

This exceptional 10,475 square foot multi-tenant retail shopping center presents a compelling investment opportunity in Mesa, Arizona. Located at 2110 W Southern Ave, 85202, this property boasts a strong 6.00% capitalization rate and a Net Operating Income (NOI) of $226,731. The asking price is $3,778,854, translating to a price per square foot of $360.75. The property features five established tenants: Little Caesars, Firehouse Subs, ABC Children’s Eye Specialists, Disco Nail club, and Dogos y Tacos El Gordo, ensuring a stable income stream. The Absolute NNN lease structure minimizes landlord responsibilities. Situated on a 38,219 square foot lot (APN 134-42-228H), the plaza benefits from its prime location directly across Southern Avenue from Banner Hospital, a major employer with approximately 3,700 employees. Furthermore, the property enjoys proximity to Mesa Community College, with over 29,000 students, and serves a high-income demographic with average household incomes exceeding $95,000 within a three-mile radius. The leases demonstrate strong annual increases during initial terms and option periods, promising continued growth and return on investment. This is a rare opportunity to acquire a well-positioned, high-performing retail asset in a thriving market.

• CAP approach

  CAP return

  Valuation

  6%

  $4,472,896

  6.5%

  $4,128,827

  7%

  $3,833,910

• Comparable approach

  Method

  Valuation

  Relative Method

  $5,433,612

  Geo Method

  $5,433,612

• Alternative Use

  Use

  Valuation

  Residential

  $3,482,820

  Hospitality

  $3,190,244

  Educational

  $2,654,246

  Medical

  $2,745,529

  Retail

  $4,128,827

Location Insight

City

Mesa

County

Maricopa

State

Arizona

Latitude

33.3936

Longitude

-111.877

CBSA code

38060

CBSA name

PHOENIX-MESA-SCOTTSDALE, AZ METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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