136 W Main St - Storefront Retail/Office FOR SALE


Mesa, AZ 85201- Downtown Mesa
$1,950,000 USD
602-954-3774
136 W Main St, Mesa, AZ for Sale
$1,950,000 USD
Storefront Retail/Office - FOR SALE
1/5
null | 8.86% Cap Rate

136 W Main St
Mesa, AZ 85201
Downtown Mesa


HIGHLIGHTS

  • Rare opportunity to acquire a high-profile retail / office building in Mesa’s historic downtown core
  • Pomeroy family legacy building – deemed historic in 1976
  • Value-add opportunity at 56% occupancy suitable for a variety of retail, restaurant, or office users
  • Potential redevelopment or retrofit in a high-density urban location
  • There are current nine (9) new housing (multifamily) projects within a one (1) mile radius of the Property

OVERVIEW

Lee & Associates Commercial Real Estate Services Company (“Exclusive Broker”) is pleased to present a rare opportunity to acquire The Pomeroy Building, a ±10,600 SF, ±56% leased, historic retail building in the historic commercial district of Downtown Mesa. Originally constructed in 1891, The Pomeroy Building is positioned on a corner lot and was one of the first buildings with electricity in Mesa. Located at 136 West Main Street, Mesa, AZ (the “Property”). The Property is leased to a dynamic mix of tenants with retail on the first floor and a mix of office uses on the second floor. A creative investor may choose to increase the current yield through lease up and market renewal rates or may look a retrofit suited for a variety of different users. This opportunity gives qualified investors the chance to acquire a historic, value-add asset in the reviving submarket of Downtown Mesa with immediate upside.

FOR SALE DETAILS

PRICE

$1,950,000 USD

PRICE/SF

$190 USD /SF

CAP RATE

8.86%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment Or Owner User

BUILDING DETAILS

PROPERTY NAME

The Pomeroy Building

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront Retail/Office

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1927

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.18 AC

LAND SF

7,841 SF

ZONING

DC-DE

APN/PARCEL ID

138-35-023

ASK ABOUT THIS PROPERTY

Sean Bishop, CCIMLee & AssociatesMore Info
602-954-3774

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Sean Bishop, CCIMLee & AssociatesMore Info
602-954-3774

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.