Great MFR or Mixed Use Development Opportunity!

Description:

4.6 acres along Main Street and Crismon Road (excludes corner).  County zoned C3/R-5.  Mesa indicates eagerness to annex and seller will allow time for due dillegence or sell subject to annexation.  City utilties avaiable in street.  Site is in an area of expanding development.   Frontage along both Main St and Crismon Rd. Max depth to the south from Main St of 400 ft and max depth to the west from Crissmon Rd of 435 ft. 


Prime development opportunity in a rapidly growing Mesa corridor. This unincorporated parcel is strategically located along the south side of Main Street and west of Crismon Road (corner excluded), offering excellent visibility and access. The City of Mesa has expressed interest in annexation, which would allow for municipal water and sewer service availability from mains within the adjacent streets.
The property is primarily zoned R-5, allowing for high-density multi-family development with potential for 40+ units per acre. Frontage along Main Street is zoned C-3 (General Commercial), the most intensive commercial zoning in the County, supporting a wide range of retail, office, and service uses.
Utilities including electric and telecommunications are readily available. The site is generally level and mostly cleared, minimizing initial site work. Minor existing improvements along Crismon Road will require removal prior to development.
NOTE!!!! *** Also avaialable is an adjacent approximately 30,000 SF land pacel along Main Street that is currently under a NNN ground lease to Health for Life Dispensory.  The NNN lease has a corporate guarantee from Ianthus!  Annual rental income is currently $138,000 and includes 15% increases each 5 years.  This additional offering at $1,299,000 ( a 10.62% Cap Rate, provides interim income to offset holding costs during entitlements.  The site offers great flexibility for a variety of development strategies. Ideal for a mixed-use project in an area experiencing strong demand for both multi-family and commercial development.


Great for multi family or mixed use development!

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