Move-in-Ready Medical Office
For Sale
$900,000
143-3654 N Power Rd, Mesa, AZ 85206
Single-story medical office condo in C-2 zoning within the Zahara Professional Offices complex.
Property Size2,500 SF
Price / SF$360
Days on Market68
Property Features for 143-3654 N Power Rd
General Information
Standard status
Active
Size
2,500 SF
Total Parking Spaces
2
Zoning
C-2
Additional Details
Floor
1
Asking Price
$900,000
Highway Access
Yes
Office Units
1
Taxes and HOA fees
Annual Taxes
$1,574
Building Details
Stories
1
Tenancy
Single
Parking Ratio
5.63 per 1,000 SF
Listing Agency:
Cutler Commercial
Listed By:
Jim M Lieberthal · License #BR516852000
(602) 955-3500
Source:
Exprealty
Added: Jul 8
Changed: Sep 3
Last Checked: Sep 13 at 10:28AM
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.
Move-in-ready, single-story medical office condo offering 2,500 SF and a fully built-out interior with high-end improvements. The space features a highly functional layout currently used for a chiropractic practice, with the improvements in place to support day-to-day operations.
The condo is located in the Zahara Professional Offices complex near the intersection of N Power Rd and E Thomas Rd, just off the corridor for easy access to Loop 202 Red Mountain Freeway. The property is minutes from Red Mountain Gateway Shopping Center.
Parking is supported by a 5.63/1,000 SF parking ratio and includes two (2) covered reserve parking spaces, helping patients and staff find close-in parking options. The property is zoned C-2.
The condo is located in the Zahara Professional Offices complex near the intersection of N Power Rd and E Thomas Rd, just off the corridor for easy access to Loop 202 Red Mountain Freeway. The property is minutes from Red Mountain Gateway Shopping Center.
Parking is supported by a 5.63/1,000 SF parking ratio and includes two (2) covered reserve parking spaces, helping patients and staff find close-in parking options. The property is zoned C-2.
Key Highlights
- 2,500 SF single‑story medical office condo
- Fully built‑out with high‑end improvements
- Layout currently used for a chiropractic practice
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
$42,838
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
4.76%
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%
$856,760
$856.8K
Cap Rate 7%
$611,971
$612.0K
Cap Rate 9%
$475,978
$476.0K
Market Conditions
NOI Build-Up for 2,500 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
$72.3K $28.92/SF
− Vacancy
−$15.2K −$6.07/SF
EGI
$57.1K $22.85/SF
− OpEx
−$14.3K −$5.71/SF
NOI
$42.8K $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%
$856,760
Cap Rate 7%
$611,971
Cap Rate 9%
$475,978
Alternative Uses
Best Use
Office B
$612.0K
$535.5K – $714.0K
NOI $42,838 @ 7.0% cap · market cap 4.76%
Second Best
Healthcare Medical
$271.1K
$237.2K – $316.3K
NOI $18,977 @ 7.0% cap · market cap 2.11%
Theoretical Best
Office A
$685.3K
$599.6K – $799.5K
NOI $47,969 @ 7.0% cap · market cap 5.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Office units
Single-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,195
Businesses Nearby
Under-served
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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Similar Off Market Nearby
- Crown UrgentVet — 140 S Power Rd, Mesa, AZ 85206
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Single-story medical office condo in C-2 zoning within the Zahara Professional Offices complex.
Where is this medical office space located?
The property is located at 143-3654 N Power Rd Mesa, AZ.
What is the asking price?
The asking price for this property is $900,000.
What are key features of this property?
This property features: 2,500 SF single‑story medical office condo; Fully built‑out with high‑end improvements; Layout currently used for a chiropractic practice
