Medical Office Condo
For Sale
$1,193,955
6638 E Baseline Rd Ste 101 102, Mesa, AZ 85206
Medical office condo featuring reception, multiple exam rooms, offices, and a break room.
Property Size2,877 SF
Days on Market93
Property Features for 6638 E Baseline Rd Ste 101 102
General Information
Standard status
Active
Size
2,877 SF
Class
B
Property subtype
Office
Building Details
Building Size
2,877 SF
Year Built
2006
Listing Agency:
Commercial Properties Inc
Listed By:
Tyson Breinholt · License #BR517298000
(602) 315-7131
Source:
Cpiaz
Added: Jun 3
Changed: Aug 31
Last Checked: Sep 2 at 3:11PM
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 Commercial Properties Inc
Investment Insights
Based on property information with market context.
This medical office condo suite is available for sale and includes a reception area, four offices, a bull pen, and a break room. The space is further supported by four exam rooms and two restrooms, making it well-suited for an organized clinical or professional workflow.
The property is located at 6638 E Baseline Rd, Ste 101 and 102 in Mesa, AZ 85206. The offering consists of a medical/office condo configuration with multiple interior rooms designed to support both patient-facing and staff workspace needs.
The property is located at 6638 E Baseline Rd, Ste 101 and 102 in Mesa, AZ 85206. The offering consists of a medical/office condo configuration with multiple interior rooms designed to support both patient-facing and staff workspace needs.
Key Highlights
- Medical/office condo built in 2006
- Reception area plus 4 offices
- Includes a bull pen and break room
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
$49,298
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
4.13%
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%
$985,960
$986.0K
Cap Rate 7%
$704,257
$704.3K
Cap Rate 9%
$547,756
$547.8K
Market Conditions
NOI Build-Up for 2,877 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
$83.2K $28.92/SF
− Vacancy
−$17.5K −$6.07/SF
EGI
$65.7K $22.85/SF
− OpEx
−$16.4K −$5.71/SF
NOI
$49.3K $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%
$985,960
Cap Rate 7%
$704,257
Cap Rate 9%
$547,756
Alternative Uses
Best Use
Office B
$704.3K
$616.2K – $821.6K
NOI $49,298 @ 7.0% cap · market cap 4.13%
Second Best
Healthcare Medical
$312.0K
$273.0K – $364.0K
NOI $21,839 @ 7.0% cap · market cap 1.83%
Theoretical Best
Office A
$788.6K
$690.0K – $920.0K
NOI $55,202 @ 7.0% cap · market cap 4.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
36
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 85206, AZ
36,713
Population
19,078
Households
1.9
Avg Household Size
48
Median Age
34%
College-Educated
92%
High-School Grad
9.4 sq mi
ZIP Area
3,906
Density / Sq Mi
$69,986
Median Household Income
$45,422
Median Earnings
$1,717
Median Rent
$322,600
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?
Medical Office Space - Medical office condo featuring reception, multiple exam rooms, offices, and a break room.
Where is this medical office space located?
The property is located at 6638 E Baseline Rd Ste 101 102 Mesa, AZ.
What is the asking price?
The asking price for this property is $1,193,955.
What are key features of this property?
This property features: Medical/office condo built in 2006; Reception area plus 4 offices; Includes a bull pen and break room
