840 W UNIVERSITY Drive, Mesa, AZ 85201
$1,150,000
Property Type:
Comm/Industry Sale
Square Footage:
8,820
Lot Size (sq. ft.):
22,743
Status:
Closed
Current Price:
$1,150,000
List Date:
3/12/2025
Last Modified:
9/03/2025
Description
Exceptional investment opportunity in the heart of a thriving business district across the street from a huge strip mall with many restaurants and services. This is a remarkable commercial strip mall for for the savvy investor as offices (what they are now)- or to use as a value add project and make apartments. Strategically located with immense potential and already has lucrative returns as office space. - Could also be a prime retail destination as well as apartment living. 11 Units (1-2story large chiropractic office rented) 2- single level offices with a total of 9 bathrooms (2-exterior accessed bathrooms)1 of the units is rented for 1500/mo, and the large 2 story chiropractic office is rented for 3500/mo. The property was in a long eviction court proceeding from previous owner and
More Information MLS# 6834216
Contract Info
Ownership: Fee Simple
Current Price: $1,150,000
Sold Price: $1,150,000
Status: Closed
List Date: 2025-03-12
Location, Tax & Legal
Assessor's Map #: 27
Legal Description (Abbrev): CLEMENT PL TR A EX N 324'
Assessor's Parcel #: 11
Assessor Parcel Ltr: B
Add'l Parcels: No
Tax Municipality: Mesa
Census Tract: 421102
Taxes: 8097
Legal: CLEMENT PL TR A EX N 324'
House Number: 840
Compass: W
Street Name: UNIVERSITY
St Suffix: Drive
City/Town Code: Mesa
State/Province: AZ
Zip Code: 85201
Zip4: 5529
County Code: Maricopa
Subdivision: CLEMENT PLACE
Assessor Number: 135-27-011-B
Tax Year: 2024
General Property Description
Ttl Apx SqFt Bldg: 8820
# of Buildings: 1
Uncvrd Parking Spcs: 20
Year Built: 1973
Zoning: M-H
Legal Info
Range: 5E
Section: 16
Township: 1N
Lot Number: 1
Construction
Block: 1
Roofing
Foam: 1
Rolled: 1
Floors
Concrete: 1
Income & Expenses
Owner Association: No
Annual Ownr Asoc Fee: 0
Operating Exp: 8097
Other Income: 0
Vacancy Allowance: 0
Adjusted Gross Inc: 0
Building Type
Commercial: 1
Office: 1
Business Type
Mixed: 1
Service Business: 1
Restaurant: 1
Storage: 1
Professional/Office: 1
Retail: 1
Food Service: 1
See Remarks: 1
Stories
1 Story: 1
Pmt & Rate Info
Equity: 1195000
Total Owed: 0
Showing Notification Methods
Showing Service: Aligned Showings
Text: 1
Email: 1
Phone Call: 1
Lockbox Type
None: 1
Ceiling Height
8.1 Feet to 10 Feet: 1
Heating
Electric: 1
Cooling
Central Air: 1
Interior Features
Finished to Suit: 1
Loading Facilities
None: 1
Source of Fincl Data
Owner: 1
Traffic Count
100,001 to 120,000: 1
Fencing
None: 1
Water Source
City Franchise: 1
Sewer
Sewer - Public: 1
Parking Features
Private: 1
Electric
APS: 1
Gas
None: 1
New Financing
Cash to Loan: 1
Owner May Carry: 1
Wrap: 1
Lease Option: 1
Other (See Remarks): 1
Reports/Disclosures
None: 1
Environmental
None: 1
Contact Info
List Agent Home Phn: 480-251-1313
Sold Info
Loan Type: Carryback
Loan Years: 30
Payment Type: Interest Only
Clsing Cost Split: Normal - N
Buyer Concession to Seller: 0
Buyer Concession $/%: %
Seller Concession to Buyer: 0
Seller Concession $/%: %
Remarks Misc
Cross Street: University/Westwood
Directions: East on University to property on corner lot of N Extension/University
Geo Lat: 33.422576
Geo Lon: -111.850044
Status Change Info
Off Market Date: 2025-04-29
Under Contract Date: 2025-04-08
Close of Escrow Date: 2025-04-29
Sold Price: $1,150,000
Property Features
Building Type: Commercial; Office
Business Type: Mixed; Service Business; Restaurant; Storage; Professional/Office; Retail; Food Service; See Remarks
Stories: 1 Story
Construction: Block
Roofing: Foam; Rolled
Floors: Concrete
Ceiling Height: 8.1 Feet to 10 Feet
Cooling: Central Air
Loading Facilities: None
Interior Features: Finished to Suit
Fencing: None
Parking Features: Private
Electric: APS
Gas: None
Water Source: City Franchise
Sewer: Sewer - Public
New Financing: Cash to Loan; Owner May Carry; Wrap; Lease Option; Other (See Remarks)
Showing Notification Methods: Text; Email; Phone Call
Lockbox Type: None
Source of Fincl Data: Owner
Traffic Count: 100,001 to 120,000
Environmental: None
Listing Office:
Raymond E Whitby
Last Updated: September - 03 - 2025
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