Office/Medical Condo
For Sale
$1,430,000
101-6245 E Brown Rd, Mesa, AZ 85201
Suite 101 is an office/medical condo with 33 parking spaces and monument signage on Brown Road.
Property Size7,562 SF
Price / SF$189.10
Days on Market160
Property Features for 101-6245 E Brown Rd
General Information
Standard status
Active
Size
7,562 SF
Total Parking Spaces
33
Zoning
OC
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$22,189
Amenities
Monument Signage on Brown Road
Building Details
Year Built
2002
Listing Agency:
Cutler Commercial
Listed By:
Jim M Lieberthal · License #BR516852000
(602) 955-3500
Source:
Exprealty
Added: Apr 6
Changed: Sep 6
Last Checked: Sep 12 at 12:37PM
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
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.
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 = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$101,985
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.13%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,039,700
$2.0M
Cap Rate 7%
$1,456,929
$1.5M
Cap Rate 9%
$1,133,167
$1.1M
Market Conditions
NOI Build-Up for 7,562 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
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
NOI $101,985 @ 7.0% cap · market cap 7.13%
Second Best
Healthcare Medical
$1.45M
$1.27M – $1.70M
NOI $101,760 @ 7.0% cap · market cap 7.12%
Theoretical Best
Office A
$1.96M
$1.72M – $2.29M
NOI $137,205 @ 7.0% cap · market cap 9.59%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Suite 101 is an office/medical condo with 33 parking spaces and monument signage on Brown Road.
Where is this office units 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
