Turnkey Office Suite with
For Sale
Contact for pricing
2222 S Dobson Rd, Mesa, AZ 85202
Suite 1104 features extensive tenant improvements, including new HVAC units, updated restrooms, and LED lighting.
Property Size12,872 SF
Price / SF$275.79
Days on Market169
Property Features for 2222 S Dobson Rd
General Information
Standard status
Active
Size
12,872 SF
Property subtype
OFFICE
Listing Agency:
Commercial Properties Inc
(480) 966-2301
Listed By:
Tyson Breinholt · License #BR517298000
(602) 315-7131
Source:
Moodyscre
Added: Apr 1
Changed: Aug 9
Last Checked: Sep 15 at 10:34AM
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 for-sale office suite includes over $400,000 in tenant improvements for Suite 1104. Improvements include two new HVAC units with smart, digitally programmable thermostats, a revised floorplan designed to improve flow, updated restrooms, and new ceiling tiles throughout. The suite also has new high-end flooring, LED lighting, and upgraded hardware on freshly painted doors and trim.
The property is offered at 2222 S Dobson Rd in Mesa, Arizona 85202.
The property is offered at 2222 S Dobson Rd in Mesa, Arizona 85202.
Key Highlights
- Over $400,000 in tenant improvements in Suite 1104
- Two new HVAC units with smart digital, programmable thermostats
- Updated restrooms and revised floorplan for improved flow
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
$220,563
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
6.21%
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%
$4,411,260
$4.4M
Cap Rate 7%
$3,150,900
$3.2M
Cap Rate 9%
$2,450,700
$2.5M
Market Conditions
NOI Build-Up for 12,872 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
$372.3K $28.92/SF
− Vacancy
−$78.2K −$6.07/SF
EGI
$294.1K $22.85/SF
− OpEx
−$73.5K −$5.71/SF
NOI
$220.6K $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%
$4,411,260
Cap Rate 7%
$3,150,900
Cap Rate 9%
$2,450,700
Alternative Uses
Best Use
Office B
$3.15M
$2.76M – $3.68M
NOI $220,563 @ 7.0% cap · market cap 6.21%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.53M
$3.09M – $4.12M
NOI $246,982 @ 7.0% cap · market cap 6.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,094
Businesses Nearby
Explore this area
Business Placement
Demographics for 85202, AZ
39,626
Population
18,077
Households
2.2
Avg Household Size
34
Median Age
34%
College-Educated
91%
High-School Grad
6.2 sq mi
ZIP Area
6,391
Density / Sq Mi
$66,582
Median Household Income
$42,083
Median Earnings
$1,431
Median Rent
$334,200
Median Home Value
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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 - Suite 1104 features extensive tenant improvements, including new HVAC units, updated restrooms, and LED lighting.
Where is this office units located?
The property is located at 2222 S Dobson Rd Mesa, AZ.
What is the asking price?
The asking price for this property is $3,550,000.
What are key features of this property?
This property features: Over $400,000 in tenant improvements in Suite 1104; Two new HVAC units with smart digital, programmable thermostats; Updated restrooms and revised floorplan for improved flow
