NEC Brown & Recker, Mesa, AZ

Price $1,259,000
Size 19,292 SF
Price per SF $65
Price per SF (Land Only) $6.98
Cap Rate 3.59 (A) 12.12 (P)
Occupancy 39%
Year Built 1999

(A) = Cap rate based on actual income at stated occupancy
(P) = Cap rate based on proforma income, usually at 95% occupancy

Nice “L” shaped center that wraps the hard corner. Built in 1999. Vacant space is all 2nd generation. Price equates to $6.98/sf just for the land. 11.6 cap rate when full with only $10 NNN rents.

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