$2,725,000
Mesa, AZ 85202
MLS# 6695639
1 / 1
Property Description
Arizona Investment & Management LLC is pleased to present the rare opportunity to acquire a 12,046 square foot multi-tenant retail property highlighted by a T-Mobile retail showroom and training facility. The Lakes at 1940 West Baseline Road, Mesa, AZ, 85202 at the western endcap of the Dobson Commercial Shopping Center, a multi-tenant, BAIZ Market Place anchored retail shopping center. It is ideally located in the heart of Dobson Ranch in Mesa.This 9-unit property is 100% occupied with a 7.3% cap rate! Leases have scheduled annual rent escalations. Plus well-seasoned Tenants that include T-Mobile (5,588 SF retail showroom and training center, remodeled this year) in occupancy since 04', Platinum Salon, a Tenant since 88', Chiropractic Care Center since 07', and China Express since 03'.
Details
Maps
Contract Info
Current Price: $2,725,000
List Price: $2,725,000
Status: Active
List Date: 2024-04-23
Ownership: Fee Simple
Buyer/Broker: Y
Buyer Broker $/%: %
Location, Tax & Legal
House Number: 1940
Compass: W
Street Name: BASELINE
St Suffix: Road
City/Town Code: Mesa
State/Province: AZ
Zip Code: 85202
Zip4: 9066
Country: USA
County Code: Maricopa
Legal Description (Abbrev): LOT 1 DOBSON COMMERCIAL CENTER MCR 020707
Subdivision: DOBSON COMMERCIAL CENTER
Assessor's Map #: 2
Assessor's Parcel #: 905
Add'l Parcels: No
Assessor Number: 305-02-905
Census Tract: 422204
Legal: LOT 1 DOBSON COMMERCIAL CENTER MCR 020707
Tax Municipality: Mesa
Taxes: 22005
Tax Year: 2023
General Property Description
Ttl Apx SqFt Bldg: 12046
# of Buildings: 9
Year Built: 1984
Uncvrd Parking Spcs: 68
Zoning: LC
Remarks & Misc
Cross Street: Baseline/Dobson
Geo Lat: 33.379365
Geo Lon: -111.876808
Status Change Info
Status Change Date: 2024-04-23
Legal Info
Township: 1N
Range: 5E
Section: 31
Lot Number: 1
Income & Expenses
Owner Association: No
Operating Exp: 22005
Gross Annual Sch Inc: 186068
Other Income: 72276
Adjusted Gross Inc: 258344
Net Operating Income: 199816
Pmt & Rate Info
Cap Rate: 7.33
Equity: 2725000
Showing Notification Methods
Showing Service: No Showing Service Used
Property Features
Building Type: Commercial; Office
Current Use: Mixed Use; Office; Retail; Food Service
Stories: 1 Story
Construction: Block
Roofing: Tile
Floors: Concrete
Ceiling Height: 10.1 Feet to 12 Feet
Heating: None
Cooling: Central A/C
Loading Facilities: None
Interior: Finished; Unfinished; Finished to Suit
Exterior: Corner Lot
Fencing: Other
Parking: Private Parking
Electric: SRP
Gas: None
Water: City Franchise
Sewer: Sewer - Public
New Financing: Cash Only; Cash to Loan
Lockbox Type: None
Source of Fincl Data: Provided by Owner; Projected Proforma
Reports/Disclosures: None
Environmental: None
Listing Office: Arizona Investment & Mgt, LLC
Last Updated: April - 24 - 2024
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