Stapley Square — Sale in Mesa, AZ

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Retail Business
  • Location: Mesa, AZ 85203
  • Year built: 1999

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Investment Figures

Cap rate
6.50%

Derived from the asking price and operating figures published for this listing. Informational only — not an appraisal, valuation or financial advice. Verify independently before relying on any figure.

Description

Marcus & Millichap is pleased to present the investment opportunity located at 425-515 N Stapley Drive in Mesa, Arizona. Strategically positioned at the signalized intersection of Stapley Drive and University Drive, this 24,568-square-foot fitness-anchored retail center is strategically positioned within a well-established commercial corridor that benefits from strong traffic counts, dense surrounding neighborhoods, and consistent consumer demand. The property is currently 91 percent occupied and features a diverse mix of service-oriented tenants that generate stable income and provide reliable daily customer traffic. The offering presents investors with meaningful rental upside, as in-place rents average approximately $16.08 per square foot annually, providing the opportunity to increase cash flow through future rent growth as leases roll. This embedded value-add component enhances the property's long-term income growth potential while maintaining a strong occupancy profile. Further strengthening the retail corridor, shadow anchor Amped Fitness recently executed a new 15-year lease and is backed by Princeton Equity Group, a private equity firm with approximately $1.6 billion in assets under management and has 35 locations nationwide. The long-term commitment of a prominent fitness operator reinforces the area's retail fundamentals and helps drive consistent consumer traffic to neighboring businesses. With stable occupancy, strong tenant demand drivers, and attractive rental upside, this Mesa retail center offers investors the opportunity to acquire a well-located asset with current income and future growth potential. Investment Highlights: • Significant Rental Upside | In-Place Rents Averaging $16.08 Per Square Foot Annually • 2027 Cap Rate of 6.50% | 2028 Cap Rate of 6.96% • Diverse Mix of Service-Oriented Tenants | Four National Tenants • Shadow Anchored by Amped Fitness | Recently Executed 15-Year Lease | Backed by Princeton Equity Group

Market Context

This retail in Mesa, AZ is listed for sale. It is offered at an approximate 6.5% capitalization rate, a key benchmark for income-producing retail assets. The building dates to 1999. Compare it against other retail listings for sale in Mesa, AZ — view the full market.

As of Q1 2026, the Phoenix retail market showed a 4.8% vacancy rate, and average asking rents near $19.00/SF/yr. Source: multiple brokerage reports, Q1 2026.

Tight vacancy keeps competition for quality space elevated.

Retail market FAQ

Is the Phoenix retail market tightening or softening?
Vacancy is around 4.8% (Q1 2026).

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