C-2-Zoned Office
1901 E University Dr, Mesa, AZ 85203
For Sale
$989,000
Established office property with C-2 zoning and a 1981 construction date.
Property Size5,415 SF
Price / SF$202.58
Days on Market98
Property Features for 1901 E University Dr
General Information
Standard status
Size
Class
Property subtype
Zoning
Building Details
Building Size
Year Built
Buildings
Listing Agency:
Commercial Properties Inc
Listed By:
Tyson Breinholt · License AZ BR517298000
(602) 315-7131
Source:
Cpiaz
Added: Aug 8
Changed: Nov 11
Last Checked: Nov 12 at 5:40AM
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
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Investment Insights
Based on property information with market context.
This office building contains 4,882 SF and was constructed in 1981. The property carries a C-2 zoning designation, providing a commercial zoning framework for the existing office asset.
The property is located at 1901 E University Dr, Mesa, AZ 85203. Its physical profile combines an established office improvement with a defined commercial zoning classification.
The property is located at 1901 E University Dr, Mesa, AZ 85203. Its physical profile combines an established office improvement with a defined commercial zoning classification.
Key Highlights
- 4,882 SF office building
- Constructed in 1981
- C‑2 zoning designation
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$83,654
Cap Rate
8.46%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,673,080
$1.7M
Cap Rate 7%
$1,195,057
$1.2M
Cap Rate 9%
$929,489
$929.5K
Market Conditions
NOI Build-Up for 4,882 SF
Gross rent
$141.2K $28.92/SF
− Vacancy
−$29.6K −$6.07/SF
EGI
$111.5K $22.85/SF
− OpEx
−$27.9K −$5.71/SF
NOI
$83.7K $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 Rate 5%
$1,673,080
Cap Rate 7%
$1,195,057
Cap Rate 9%
$929,489
Alternative Uses
Best Use
Office B
$1.20M
$1.05M – $1.39M
NOI $83,654 @ 7.0% cap · market cap 8.46%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.34M
$1.17M – $1.56M
NOI $93,673 @ 7.0% cap · market cap 9.47%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
794
Businesses Nearby
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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
$388,300
Median Home Value
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Market
Average Price Trend$/SF for Office buildings in Mesa, AZ
Properties on Market for Office buildings in Mesa
Vacancy Rate% for Office in West region
Frequently Asked Questions
What type of property is this?
Office building - Established office property with C-2 zoning and a 1981 construction date.
Where is this office building located?
The property is located at 1901 E University Dr Mesa, AZ.
What is the asking price?
The asking price for this property is $989,000.
What are key features of this property?
This property features: 4,882 SF office building; Constructed in 1981; C‑2 zoning designation
