$4,450,000

Description

Prime development opportunity with adjacent NNN ground lease included! $138k existing annual income!! Rapidly growing Mesa corridor. This unincorporated parcel is strategically located along the south side of Main Street and west of Crismon Road (corner excluded), offering excellent visibility and access. The City of Mesa has expressed interest in annexation, which would allow for municipal water and sewer service availability from mains within the adjacent streets. The property is primarily zoned R-5, allowing for high-density multi-family development with potential for 40+ units per acre. Frontage along Main Street is zoned C-3 (General Commercial), the most intensive commercial zoning in the County, supporting a wide range of retail, office, and service uses. Utilities including electric and telecommunications are readily available. The site is generally level and mostly cleared, minimizing initial site work. Minor existing improvements along Crismon Road will require removal prior to development. Approximately 30,000 SF along Main Street is currently under a ground lease, with rental income increasing to $138,000 annually in May 2026, providing interim income potential. The property may be acquired in whole or in part, offering flexibility for a variety of development strategies. Ideal for a mixed-use project in an area experiencing strong demand for both multi-family and commercial development.