Building Details

Year Built 2002

Listing Agency: Cutler Commercial r***@cutlercommercial.com

Listed By: Jim M Lieberthal · License #BR516852000 Show Phone

Source: Exprealty

Added: Apr 6 Changed: Oct 25 Last Checked: Oct 28 at 9:02AM

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Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Cutler Commercial

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Investment Insights

Based on property information with market context.

Suite 101 offers approximately 7,562 SF of office/medical condo space in a building constructed in 2002. The unit is positioned as an owner-user opportunity and includes 33 parking spaces total, with 7 covered and 26 uncovered.

The property is located just east of the SEC of Recker and Brown Roads, with close proximity to Highway 60, I-87, and Loop 202. Monument signage is available on Brown Road, supporting visibility for a professional office use.

A condo plat is pending City of Mesa approval, with an estimated timeline of June 2026. The property is zoned OC, City of Mesa, and is listed for sale.

Key Highlights

• Suite 101 office/medical condo with ±7,562 SF
• 33 parking spaces total: 7 covered and 26 uncovered
• Monument signage on Brown Road

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$101,985

Cap Rate

7.13%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,039,700 $2.0M

Cap Rate 7%

$1,456,929 $1.5M

Cap Rate 9%

$1,133,167 $1.1M

Is this asking price fair?

Market Conditions

NOI Build-Up for 7,562 SF

Gross rent

$167.9K $22.20/SF

− Vacancy

−$31.9K −$4.22/SF

EGI

$136.0K $17.98/SF

− OpEx

−$34.0K −$4.50/SF

NOI

$102.0K $13.49/SF

Area

ZIP 85201

Vacancy

19.00%

Lease Rate

$22.20 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,039,700

Cap Rate 7%

$1,456,929

Cap Rate 9%

$1,133,167

Alternative Uses

Best Use

Office B

$1.46M

$1.27M – $1.70M (±1% cap)

NOI $101,985 @ 7.0% cap · market cap 7.13%

Second Best

Healthcare Medical

$1.45M

$1.27M – $1.70M (±1% cap)

NOI $101,760 @ 7.0% cap · market cap 7.12%

Theoretical Best

Office A

$1.96M

$1.72M – $2.29M (±1% cap)

NOI $137,205 @ 7.0% cap · market cap 9.59%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Current Use

Office Units

Suggested Use

Top Pick Hair Salon Building Supply Dental Office Nail Salon (Bike/Boat/Book/etc) Store Computer & Electronic Repair

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Yes

Highway access

Location Intelligence

Trade Area within ½ mile

865

Businesses Nearby

Explore this area Business Placement

Demographics for 85201, AZ

51,187

Population

23,099

Households

2.2

Avg Household Size

33

Median Age

27%

College-Educated

87%

High-School Grad

9.4 sq mi

ZIP Area

5,445

Density / Sq Mi

$63,725

Median Household Income

$40,067

Median Earnings

$1,349

Median Rent

$292,600

Median Home Value

Market

Vacancy Rate% for Office in West region

11% 2019

14.1% 2020

15.5% 2021

17.2% 2022

19.9% 2023

21% 2024

20.8% 2025

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Frequently Asked Questions

What type of property is this?

Office unit - Suite 101 is an office/medical condo with 33 parking spaces and monument signage on Brown Road.

Where is this office unit located?

The property is located at 101-6245 E Brown Rd Mesa, AZ.

What is the asking price?

The asking price for this property is $1,430,000.

What are key features of this property?

This property features: Suite 101 office/medical condo with ±7,562 SF; 33 parking spaces total: 7 covered and 26 uncovered; Monument signage on Brown Road