Freestanding Office
For Sale
$2,049,000
919 & 925 N Stapley Drive, Mesa, AZ 85203
Two side-by-side freestanding masonry office buildings offer flexible layouts with dedicated reception areas and private restrooms.
Property Size9,216 SF
Lot Size0.90 Acres
Price / SF$222.33
Days on Market33
Property Features for 919 & 925 N Stapley Drive
General Information
Standard status
Active
Size
9,216 SF
Class
B
Total Parking Spaces
45
Lot size
0.90 Acres
Property subtype
Office
Zoning
C-2
Occupancy
100%
Additional Details
Highway Access
Yes
Amenities
monument and building signage
Building Details
Building Size
9,216 SF
Year Built
1978
Construction
masonry
Tenancy
Multi
Listing Agency:
LRA Real Estate Group, LLC
(602) 451-3684
Listed By:
Don Mortensen · License #BR529840000
Source:
Lrarealestate
Added: Jul 20
Changed: Aug 14
Last Checked: Aug 21 at 4:56AM
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 LRA Real Estate Group, LLC
Investment Insights
Based on property information with market context.
Rare offering featuring two side-by-side, freestanding office buildings totaling 9,216 SF of well-maintained masonry construction. The property is fully occupied and currently provides an established mix of professional and medical tenants. Each building includes private offices, dedicated reception areas, and private restrooms, with flexible, move-in-ready layouts.
Set on a 0.90-acre lot along the highly traveled Stapley Drive corridor, the site offers direct, easy access to both the Loop 202 and US-60 freeways. The buildings also feature prominent high-visibility monument and building signage on Stapley Dr.
The property is zoned C-2 by the City of Mesa and includes 45 dedicated parking spaces, with a mix of covered and uncovered options. The current occupancy is 100% leased.
Set on a 0.90-acre lot along the highly traveled Stapley Drive corridor, the site offers direct, easy access to both the Loop 202 and US-60 freeways. The buildings also feature prominent high-visibility monument and building signage on Stapley Dr.
The property is zoned C-2 by the City of Mesa and includes 45 dedicated parking spaces, with a mix of covered and uncovered options. The current occupancy is 100% leased.
Key Highlights
- Two side‑by‑side freestanding masonry office buildings totaling 9,216 SF
- Fully occupied/100% leased with professional and medical tenants
- 0.90‑acre lot on Stapley Drive corridor with prominent monument and building signage
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
$157,917
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
7.71%
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%
$3,158,340
$3.2M
Cap Rate 7%
$2,255,957
$2.3M
Cap Rate 9%
$1,754,633
$1.8M
Market Conditions
NOI Build-Up for 9,216 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
$266.5K $28.92/SF
− Vacancy
−$56.0K −$6.07/SF
EGI
$210.6K $22.85/SF
− OpEx
−$52.6K −$5.71/SF
NOI
$157.9K $17.14/SF
Area
Mesa, AZ
Vacancy
21.00%
Lease Rate
$28.92 /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%
$3,158,340
Cap Rate 7%
$2,255,957
Cap Rate 9%
$1,754,633
Alternative Uses
Best Use
Office B
$2.26M
$1.97M – $2.63M
NOI $157,917 @ 7.0% cap · market cap 7.71%
Second Best
Healthcare Medical
$999.4K
$874.5K – $1.17M
NOI $69,958 @ 7.0% cap · market cap 3.41%
Theoretical Best
Office A
$2.53M
$2.21M – $2.95M
NOI $176,832 @ 7.0% cap · market cap 8.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
335
Businesses Nearby
Explore this area
Business Placement
Demographics for 85203, AZ
37,962
Population
14,020
Households
2.7
Avg Household Size
33
Median Age
29%
College-Educated
91%
High-School Grad
9.3 sq mi
ZIP Area
4,082
Density / Sq Mi
$72,851
Median Household Income
$40,524
Median Earnings
$1,388
Median Rent
$388,300
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 building - Two side-by-side freestanding masonry office buildings offer flexible layouts with dedicated reception areas and private restrooms.
Where is this office building located?
The property is located at 919 & 925 N Stapley Drive Mesa, AZ.
What is the asking price?
The asking price for this property is $2,049,000.
What are key features of this property?
This property features: Two side‑by‑side freestanding masonry office buildings totaling 9,216 SF; Fully occupied/100% leased with professional and medical tenants; 0.90‑acre lot on Stapley Drive corridor with prominent monument and building signage
