Veterinary Clinic
For Sale
$475,000
1721 E University Dr., Mesa, AZ 85203
Plug-and-play veterinary clinic with multiple exam rooms, on-site indoor kennels, and dual-lobby patient flow.
Property Size1,860 SF
Lot Size0.16 Acres
Days on Market122
Property Features for 1721 E University Dr.
General Information
Standard status
Active
Size
1,860 SF
Class
C
Lot size
0.16 Acres
Property subtype
Office
Site & Location
Traffic Count
20,000 vehicles/day
Highway Access
Yes
Road Access
Yes
Building Details
Building Size
1,860 SF
Year Built
1980
Listing Agency:
Menlo Group Commercial Real Estate
Listed By:
Steve Berghoff, SIOR, CCIM · License #BR581000000
(480) 206-4548
Source:
Menlocre
Added: May 16
Changed: Sep 8
Last Checked: Sep 13 at 8:35AM
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 Menlo Group Commercial Real Estate
Investment Insights
Based on property information with market context.
This veterinary owner/user building is available for sale as a plug-and-play clinic, with a full clinical build-out that includes multiple exam rooms and a specialty surgical room. The design features a dual-lobby animal patient flow with separate lobbies for dogs and cats. On-site indoor kennels are supported by durable block-wall construction, with hose bib and drainage for boarding or recovery.
The property sits on a large lot with dedicated parking for staff and clients and benefits from high-exposure frontage along busy University Dr. The listing also notes prominent on-site monument signage and an over 20,000 VPD traffic count, with close proximity to US 60 and Loop 202.
Reported recent capital improvements include a new roof in 2026, two new units installed in 2025, and one unit from 2014, with all units recently serviced.
The property sits on a large lot with dedicated parking for staff and clients and benefits from high-exposure frontage along busy University Dr. The listing also notes prominent on-site monument signage and an over 20,000 VPD traffic count, with close proximity to US 60 and Loop 202.
Reported recent capital improvements include a new roof in 2026, two new units installed in 2025, and one unit from 2014, with all units recently serviced.
Key Highlights
- Plug‑and‑play veterinary clinic at 1721 E University Dr, Mesa, AZ 85203, with full clinical build‑out and multiple exam rooms
- Dual‑lobby patient flow with separate lobbies for dogs and cats
- Includes a specialty surgical room and on‑site indoor kennels with durable block‑wall construction
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
$31,871
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
6.71%
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%
$637,420
$637.4K
Cap Rate 7%
$455,300
$455.3K
Cap Rate 9%
$354,122
$354.1K
Market Conditions
NOI Build-Up for 1,860 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
$53.8K $28.92/SF
− Vacancy
−$11.3K −$6.07/SF
EGI
$42.5K $22.85/SF
− OpEx
−$10.6K −$5.71/SF
NOI
$31.9K $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%
$637,420
Cap Rate 7%
$455,300
Cap Rate 9%
$354,122
Alternative Uses
Best Use
Office B
$455.3K
$398.4K – $531.2K
NOI $31,871 @ 7.0% cap · market cap 6.71%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$509.8K
$446.1K – $594.8K
NOI $35,689 @ 7.0% cap · market cap 7.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
20,000 VPD
Traffic count
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
817
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in West region
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Frequently Asked Questions
What type of property is this?
Office units - Plug-and-play veterinary clinic with multiple exam rooms, on-site indoor kennels, and dual-lobby patient flow.
Where is this office units located?
The property is located at 1721 E University Dr. Mesa, AZ.
What is the asking price?
The asking price for this property is $475,000.
What are key features of this property?
This property features: Plug‑and‑play veterinary clinic at 1721 E University Dr, Mesa, AZ 85203, with full clinical build‑out and multiple exam rooms; Dual‑lobby patient flow with separate lobbies for dogs and cats; Includes a specialty surgical room and on‑site indoor kennels with durable block‑wall construction
