Exceptional Value Add Retail Center 80% Occupied across from Mesa Community College

Highlights:

• Exceptional Mesa Location across from Mesa Community College
• 16,200 SF building
• 1.26 Acres
• 5 long term stable tenants
• 80% occupancy
• 20% leasing potential upside
• Rents below market rates average $14 NNN
• Built in 1976
• Roof replaced in 2018
• Recently resealed & striped parking lot
• Landscaping recently upgraded
• Zoned LC
• 102 parking spaces 6.30 spaces/1000
• Masonry construction

Description:

16,200 Sq. Ft. Retail Strip Center on 1.26 Acres, Across from Mesa Community College, long term stable tenants, 80% occupied Strong potential to increase income by 20%. Parking lot recently resealed, striped, & landscape updated.


This location is incredible. Directly north of Mesa Community College with 29,000 enrollment, the largest of the 10 colleges in Maricopa County. Just east of the Banner Desert Medical Center medical campus at the southeast corner of Dobson and Southern on 80 acres, 313,671 square feet complex with 615 licensed beds recently underwent a $45 million modernization project enhancing infrastructure and amenities. Approximately 1/2 mile east of the subject property is the previous Fiesta Mall now called Fiesta Redefined. The 80 acre project has been approved for up to 4,000 housing units, 1.85 million square feet of commercial and retail space. Over 500,000 square feet of open space, designed to be pedestrian- and bike-friendly and a mix of office spaces, restaurants, and recreational amenities. Easy access to freeways, approximatley 1 mile south to US 60 and 2 miles west to Loop 101.

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