2708 E University, Mesa, AZ
Retail for Sale - $1,585,964 - 2,804 Sq. Ft. on 0.5 acres
Property Info
| CIMLS# | 875113 |
| Location 2708 E University Mesa AZ 85213 | |
| Updated | January 16th, 2017 |
| Type | Retail |
| Price | $1,585,964 |
| Building | 2,804 Sq. Ft. |
| Land | 0.5 acres |
Property Description
Tenant just put over $300,000 in remodeling in 2016, tenant started leasing at this location in 2003.
Great frontage on busy street, grocery store anchored shopping center
Location Description:
0n the corner of University and Lindsay
Highlights:
>> Tenant in place since 2003.
>> Four years left on lease with 2.5% increases a year.
>> Three five year lease options, with A 5% increase in 2021 and 7% increase in 2026.
>> 6.5% of gross sales for calendar year.
>> Complete remodel on building 2016
>> Full NNN lease.
Financials
Sales Info:
>> Cap rate: 5.5%
>> NOI: $87228