Listed by Colliers - Phoenix, Arizona
$1,370,000
Adobe Luxury Villas
Details
APN 141-78-988
Property Type Land
Sub Type Commercial
Broker Co-Op Yes
Acreage 2.096
Zoning RM-3-PAD
Land | 2.096 acres
Marketing description
Adobe Luxury Villas presents a rare opportunity to acquire a fully entitled multifamily development site at 5950 E Adobe St, Mesa, AZ 85205. Situated on 2.096 acres at the northwest corner of Adobe Road and Recker Road, this vacant land parcel is zoned RM-3-PAD and fully entitled for 38 condo units, offering a streamlined path to development in one of East Mesa’s most supply-constrained residential submarkets.
Positioned in a high-growth corridor, the property benefits from exceptional access to Loop 202, US-60, Loop 101, Phoenix-Mesa Gateway Airport, and Sky Harbor International Airport. The surrounding area is fueled by major employment anchors including Boeing Mesa, Banner Gateway Medical Center, Meta, Apple, Google, Amazon, and Mesa Gateway Airport.
With virtually no new-construction condo or townhome competition in East Mesa, strong demographics within a 3-mile radius, and proximity to top schools, retail, golf, parks, and outdoor recreation, Adobe Luxury Villas is ideally positioned to capture demand from buyers seeking new housing options in an established, amenity-rich location. This is a compelling chance to deliver a for-sale residential community in one of metro Phoenix’s fastest-growing markets.
Investment highlights
- Economic drivers
- Boeing mesa (~5 mi): 4,600 employees, $9b+ in active contracts manufacturing the ah-64 apache helicopter
- Banner gateway medical center (~4 mi): recently completed a $243m expansion with 600+ added jobs
- Meta data center (~7 mi): $1b+ campus, first buildings now live; 3 more under construction
- Apple global data command center (~8 mi): $2b, 1.3m sq ft overseeing all apple data center operations
- Google mesa data center (~9 mi): $1b+ phase 1 live mid-2025; continued expansion planned
- Amazon (~8 mi): largest distribution center in the u.S. At 1.2m sq ft on elliot road
- Mesa gateway airport (~10 mi): $1.8b annual economic impact, 10,200+ jobs; home to gulfstream, embraer
- Market opportunity
- Virtually zero new-construction condo/townhome product exists in east mesa today
- Mesa ranks #1 nationally for economic growth; population growing to 538,000+ by 2030
- 47 company relocations in fy2025 alone creating 3,370 jobs at avg. $65k+ salaries
- Phoenix metro adds ~85,000 residents/year; named #1 manufacturing hub in the nation (2024)
- Transportation access
- Loop 202 (red mountain freeway): 2 miles north via recker road — 3–5 min to on-ramp
- Us-60 (superstition freeway): ~5 miles south with on-ramps at power & higley roads
- Loop 101 (price freeway): ~12–15 min via loop 202 westbound
- Sky harbor international airport: ~23 miles, 25–35 min via loop 202
- Phoenix-mesa gateway airport: ~10 miles south (15–20 min); 43+ nonstop destinations
Listing Contacts
Listed by Colliers - Phoenix, Arizona
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Zoning
RM-3 ResidentialMulti FamilyResidential Multiple Dwelling 3
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View all 57 uses Last updated May 11, 2026 For deeper zoning details, reports are available at Zoneomics
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