$4,200,000

340 W University Dr Unit 1 Mesa, AZ 85201

Evergreen Historic District Neighborhood

Estimated payment $26,205/month

-- Bed
-- Bath
34,822 Sq Ft
$121 Price per Sq Ft

Highlights

  • 2.77 Acre Lot
  • Concrete Flooring
  • 4-minute walk to Evergreen Park
  • Franklin at Brimhall Elementary School Rated A

About This Home

Great property to redevelop
short term leases allow Buyer opportunity to rezone and design new project.
city of Mesa is supportive of redeveolping the corner

Listing Agent

Dan Colton

Colton Commercial License #BR025209000 Listed on: 07/01/2025

Property Details

Property Type

  • Other

Est. Annual Taxes

  • $34,761

Year Built

  • Built in 1974

Lot Details

  • 2.77 Acre Lot
  • Property is zoned DB-1 LC

Home Design

  • Foam Roof
  • Block Exterior
  • Stucco

Interior Spaces

  • 34,822 Sq Ft Home
  • Concrete Flooring

Parking

  • 80 Open Parking Spaces
  • 80 Parking Spaces
  • Public Parking

Listing and Financial Details

  • Assessor Parcel Number 137-27-074

Community Details

Overview

  • 9 Buildings
  • Mesa Arizona Subdivision

Building Details

  • Gross Income $1,708,732
  • Net Operating Income $277,482

Property Details

Property Type

Other

Est. Annual Taxes

$34,761

Year Built

Built in 1974

Lot Details

0

Listing Details

  • Cross Street: NEC University Drive and Country Club
  • Property Type: Comm/Industry Sale
  • Zoning: DB-1 LC
  • Number Of Buildings: 9
  • Ownership: Fee Simple
  • Year Built: 1974
  • Tax Year: 2024
  • Directions: hard corner multiple driveways on University Dr and Country Club
  • Lot Size Acres: 2.77
  • Subdivision Name: MESA ARIZONA
  • Structure Type: Commercial, Office
  • Special Features: None
  • Property Sub Type: Other

Interior Features

  • Flooring: Concrete
  • Living Area: 34822.0

Exterior Features

  • Fencing: None
  • Disclosures: ALTA Survey Availbl
  • Construction Type: Stucco, Block
  • Roof: Foam
  • Construction:Block: Yes
  • Construction:Stucco2: Yes

Garage/Parking

  • Parking Features: Parking Lot
  • Attached Garage: No
  • Open Parking Spaces: 80.0
  • Total Parking Spaces: 80.0
  • General Property Description:Uncvrd Parking Spcs: 80.0
  • General Property Description:Total Parking Spcs: 80.0

Utilities

  • Electric: Other (See Remarks), City Electric
  • Cooling: See Remarks
  • Heating: See Remarks
  • Water Source: City Franchise

Lot Info

  • Lot Size Sq Ft: 120500.0
  • Parcel #: 137-27-074

Multi Family

  • Annual Gross Income: 1708732.0
  • Property Net Operating Income: 277482.0
  • Vacancy Allowance Rate: 5.0

Tax Info

  • Tax Annual Amount: 34761.0
  • Tax Book Number: 137.00
  • Tax Lot: 0
  • Tax Map Number: 27.00

Map

Range of Values:

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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Property History

Date Event Price Change Sq Ft Price
07/01/2025 07/01/25 For Sale $4,200,000 -- $121 / Sq Ft
Source: Arizona Regional Multiple Listing Service (ARMLS)

Source: Arizona Regional Multiple Listing Service (ARMLS)

MLS Number: 6887330

Arizona Regional Multiple Listing Service (ARMLS)

Arizona Maricopa County Mesa 85201 Evergreen Historic District

340 W University Dr Unit 1, Mesa, AZ

This home is located at 340 W University Dr Unit 1, Mesa, AZ 85201 and is currently priced at $4,200,000, approximately $120 per square foot. This property was built in 1974. 340 W University Dr Unit 1 is a home located in Maricopa County with nearby schools including Eisenhower Center for Innovation, Franklin at Brimhall Elementary School, and Franklin West Elementary School.

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

Arizona Regional Multiple Listing Service (ARMLS) All information should be verified by the recipient and none is guaranteed as accurate by ARMLS

Listing Information presented by local MLS brokerage: Ten-X, local REALTOR®- Arlene Richardson - (888)-952-6393

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Dan Colton
Listing Agent
Dan Colton
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Colton Commercial
(480) 894-3636