Mesa Drive Redevelopment
For Sale
Contact for pricing
1750 S Mesa Dr, Mesa, AZ
4.76-acre redevelopment site with 40,980 SF gray-shell office.
Property Size40,980 SF
Lot Size3.25 Acres
Price / SF$192.78
Days on Market426
Property Features for 1750 S Mesa Dr
General Information
Standard status
Active
Size
40,980 SF
Lot size
3.25 Acres
Property subtype
OFFICE
Listing Agency:
ORION Investment Real Estate
(785) 231-9243
Listed By:
Jordan Tennant · License #SA676977000
(785) 231-9243
Source:
Moodyscre
Added: Jun 10, 2025
Changed: Jul 6
Last Checked: Aug 8 at 1:07PM
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 ORION Investment Real Estate
Investment Insights
Based on property information with market context.
This 4.76-acre redevelopment site features a 40,980 square foot gray-shell office building. The property benefits from frontage on Mesa Drive, with a traffic count of 39,800 vehicles per day, and immediate access to US-60, which sees 225,200 vehicles per day. The site includes 120 covered parking stalls and a gated parking lot. A new roof was installed in 2022. Proposed uses for the property include office, medical, industrial, and automotive.
Key Highlights
- 4.76 Acre Redevelopment Site with 40,980 Sq/Ft Gray‑Shell Office
- Immediate Access from US‑60 (225,200 VPD)
- Frontage on Mesa Drive (39,800 VPD)
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
$702,196
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
8.89%
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%
$14,043,920
$14.0M
Cap Rate 7%
$10,031,371
$10.0M
Cap Rate 9%
$7,802,178
$7.8M
Market Conditions
NOI Build-Up for 40,980 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
$1.19M $28.92/SF
− Vacancy
−$248.9K −$6.07/SF
EGI
$936.3K $22.85/SF
− OpEx
−$234.1K −$5.71/SF
NOI
$702.2K $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%
$14,043,920
Cap Rate 7%
$10,031,371
Cap Rate 9%
$7,802,178
Alternative Uses
Best Use
Office B
$10.03M
$8.78M – $11.70M
NOI $702,196 @ 7.0% cap · market cap 8.89%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$11.23M
$9.83M – $13.11M
NOI $786,305 @ 7.0% cap · market cap 9.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
836
Businesses Nearby
Explore this area
Business Placement
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 - 4.76-acre redevelopment site with 40,980 SF gray-shell office.
Where is this office building located?
The property is located at 1750 S Mesa Dr Mesa, AZ.
What is the asking price?
The asking price for this property is $7,900,000.
What are key features of this property?
This property features: 4.76 Acre Redevelopment Site with 40,980 Sq/Ft Gray‑Shell Office; Immediate Access from US‑60 (225,200 VPD); Frontage on Mesa Drive (39,800 VPD)
