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Home > 1840 W SOUTHERN Avenue, Mesa, AZ 85202 (MLS# 6867397)

1840 W SOUTHERN Avenue, Mesa, AZ 85202

$2,900,000
Property Type: Comm/Industry Sale Square Footage: 16,201 Lot Size (sq. ft.): 54,886 Status: Active
Current Price: $2,900,000 List Date: 5/16/2025 Last Modified: 8/01/2025

Description

Back on Market 6/18! Location is exceptional just across from Mesa Community College, at Dobson just west is the Banner Desert Medical Campus and to the east is Fiesta Mall Redefined which is approved for 4,000 new housing units, 1.85 million sq. ft. of mixed use retail, restaurants and office with 500k sq. ft. of open space in the 80 acre master plan. This ''value add'' 16,200 +- center is presently 80% occupied with room to improve income and value. Approx present $156k NOI.

More Information MLS# 6867397

Contract Info

Ownership: Fee Simple Current Price: $2,900,000 List Price: $2,900,000 Status: Active List Date: 2025-05-13

Location, Tax & Legal

Assessor's Map #: 6 Legal Description (Abbrev): LOT 3 COLLEGE PLAZA LOTS 1 THROUGH 4 MCR 018212 Assessor's Parcel #: 5 Add'l Parcels: No Tax Municipality: Mesa Census Tract: 422103 Taxes: 22654 Legal: LOT 3 COLLEGE PLAZA LOTS 1 THROUGH 4 MCR 018212 House Number: 1840 Compass: W Street Name: SOUTHERN St Suffix: Avenue City/Town Code: Mesa State/Province: AZ Zip Code: 85202 Zip4: 4835 County Code: Maricopa Subdivision: COLLEGE PLAZA LOTS 1 THROUGH 4 Assessor Number: 305-06-005 Tax Year: 2024

General Property Description

Ttl Apx SqFt Bldg: 16201 # of Buildings: 1 Uncvrd Parking Spcs: 102 Stories: 1 Year Built: 1976 Zoning: LC

Legal Info

Range: 5E Section: 29 Township: 1N Lot Number: 3

Construction

Block: 1 Stucco: 1

Roofing

Built-Up: 1

Floors

Concrete: 1

Income & Expenses

Owner Association: No Annual Ownr Asoc Fee: 0 Operating Exp: 22654 Other Income: 60000 Vacancy Allowance: 20 Adjusted Gross Inc: 4577100

Building Type

Commercial: 1

Business Type

Retail: 1

Pmt & Rate Info

Cap Rate: 5.2 Equity: 3000000 Total Owed: 0

Showing Notification Methods

Showing Service: Aligned Showings Text: 1

Lockbox Type

Combo: 1

Ceiling Height

8.1 Feet to 10 Feet: 1

Heating

Electric: 1

Cooling

Central Air: 1

Interior Features

Finished: 1

Loading Facilities

None: 1

Road Surface Type

Asphalt: 1

Exterior

Landscaping: 1 Building Sign: 1 Sidewalk(s): 1 Monument Sign: 1 Security Light(s): 1

Source of Fincl Data

Owner: 1

Fencing

Block: 1

Water Source

City Franchise: 1

Freeway/Highway

1.1 - 2 Miles: 1

Sewer

Sewer - Public: 1

Parking Features

Parking Lot: 1 Paved: 1

Electric

APS: 1

Gas

None: 1

New Financing

Cash Only: 1 1031 Exchange: 1

Existing 1st Loan

Treat as Free&Clear: 1

Existing 2nd Loan

Treat as Free&Clear: 1

Existing 3rd Loan

Treat as Free&Clear: 1

Reports/Disclosures

None: 1

Environmental

Phase I Available: 1 Phase II Available: 1

Contact Info

List Agent Home Phn: 480-481-0032

Remarks Misc

Cross Street: West Southern & Dobson Directions: Just east of Dobson on the north side of the street Geo Lat: 33.393544 Geo Lon: -111.871028

Income Expenses

Gross Annual Sch Inc: 180900 Net Operating Income: 156000

Property Features

Building Type: Commercial Business Type: Retail Construction: Block; Stucco Roofing: Built-Up Floors: Concrete Ceiling Height: 8.1 Feet to 10 Feet Cooling: Central Air Loading Facilities: None Interior Features: Finished Exterior: Landscaping; Building Sign; Sidewalk(s); Monument Sign; Security Light(s) Fencing: Block Parking Features: Parking Lot; Paved Electric: APS Gas: None Water Source: City Franchise Sewer: Sewer - Public New Financing: Cash Only; 1031 Exchange Showing Notification Methods: Text Lockbox Type: Combo Source of Fincl Data: Owner Existing 1st Loan: Treat as Free&Clear Existing 2nd Loan: Treat as Free&Clear Existing 3rd Loan: Treat as Free&Clear Road Surface Type: Asphalt Environmental: Phase I Available; Phase II Available
Listing Office: AZ Brokerage Holdings, LLC
IDX
Last Updated: August - 01 - 2025
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