340 W UNIVERSITY Drive 1, Mesa, AZ 85201
$4,200,000
Property Type:
Comm/Industry Sale
Square Footage:
34,822
Lot Size (sq. ft.):
120,500
Status:
Active
Current Price:
$4,200,000
List Date:
7/01/2025
Last Modified:
7/01/2025
Description
Great property to redevelop
short term leases allow Buyer opportunity to rezone and design new project.
city of Mesa is supportive of redeveolping the corner
More Information MLS# 6887330
Contract Info
Ownership: Fee Simple
Current Price: $4,200,000
List Price: $4,200,000
Status: Active
List Date: 2025-06-02
Location, Tax & Legal
Unit #: 1
Building Number: 1
Assessor's Map #: 27
Legal Description (Abbrev): MESA BLK 123 PT DAF BAP 214F M/L N & 33F E OF SW COR SEC 15 1N 5E TH N 103F TH E 310.2F TH S 103F
Assessor's Parcel #: 74
Add'l Parcels: Yes
Tax Municipality: Mesa
Census Tract: 421001
Taxes: 34761
Legal: MESA BLK 123 PT DAF BAP 214F M/L N & 33F E OF SW COR SEC 15 1N 5E TH N 103F TH E 310.2F TH S 103F
House Number: 340
Compass: W
Street Name: UNIVERSITY
St Suffix: Drive
City/Town Code: Mesa
State/Province: AZ
Zip Code: 85201
Zip4: 5824
County Code: Maricopa
Subdivision: MESA ARIZONA
Assessor Number: 137-27-074
Tax Year: 2024
General Property Description
Type of Property: retail office
Ttl Apx SqFt Bldg: 34822
# of Buildings: 9
Uncvrd Parking Spcs: 80
Flood Zone: No
Volts/Amps: varies
Year Built: 1974
Zoning: DB-1 LC
Construction
Block: 1
Stucco: 1
Roofing
Foam: 1
Floors
Concrete: 1
Income & Expenses
Owner Association: No
Annual Ownr Asoc Fee: 0
Other Income: 5979
Vacancy Allowance: 5
Adjusted Gross Inc: 1708732
Building Type
Commercial: 1
Office: 1
Business Type
Barber/Beauty: 1
Religious Facility: 1
Restaurant: 1
Professional/Office: 1
Retail: 1
Food Service: 1
Bar/Tavern/Lounge: 1
Pmt & Rate Info
Cap Rate: 6.61
Equity: 4200000
Total Owed: 0
Showing Notification Methods
Showing Service: Aligned Showings
Lockbox Type
None: 1
Ceiling Height
8 Feet or Less: 1
Heating
See Remarks: 1
Cooling
See Remarks: 1
Interior Features
Public Restrooms: 1
Loading Facilities
None: 1
Source of Fincl Data
Projected Proforma: 1
Fencing
None: 1
Water Source
City Franchise: 1
Sewer
Sewer - Public: 1
Parking Features
Parking Lot: 1
Electric
City Electric: 1
Other (See Remarks): 1
Gas
None: 1
New Financing
Cash Only: 1
Reports/Disclosures
ALTA Survey Availbl: 1
Environmental
None: 1
Contact Info
List Agent Home Phn: 602-667-3492
List Agent Hme Phn 2: 602-828-1755
Remarks Misc
Cross Street: NEC University Drive and Country Club
Directions: hard corner
multiple driveways on University Dr and Country Club
Geo Lat: 33.422718
Geo Lon: -111.839097
Income Expenses
Gross Annual Sch Inc: 421204
Net Operating Income: 277482
Property Features
Building Type: Commercial; Office
Business Type: Barber/Beauty; Religious Facility; Restaurant; Professional/Office; Retail; Food Service; Bar/Tavern/Lounge
Construction: Block; Stucco
Roofing: Foam
Floors: Concrete
Ceiling Height: 8 Feet or Less
Heating: See Remarks
Cooling: See Remarks
Loading Facilities: None
Interior Features: Public Restrooms
Fencing: None
Parking Features: Parking Lot
Electric: City Electric; Other (See Remarks)
Gas: None
Water Source: City Franchise
Sewer: Sewer - Public
New Financing: Cash Only
Lockbox Type: None
Source of Fincl Data: Projected Proforma
Environmental: None
Documents
Unbranded Floorplan ›
Listing Office:
Colton Commercial
Last Updated: July - 01 - 2025
Copyright 2025 Arizona Regional Multiple Listing Service, Inc. All rights reserved. Information Not Guaranteed and Must Be Confirmed by End User. Site contains live data.