Mesa Medical Office
For Sale
Contact for pricing
2222 S Dobson Rd #703, Mesa, AZ 85202
High-quality medical office in Mesa's Dobson Ranch professional corridor.
Property Size5,244 SF
Price / SF$365
Days on Market445
Property Features for 2222 S Dobson Rd #703
General Information
Standard status
Active
Size
5,244 SF
Property subtype
Office, Retail
Investment Type
Owner/User
Building Details
Year Built
1981
Tenancy
Multi
Listing Agency:
MHG Commercial
(602) 750-6986
Listed By:
Nicholas Skogen · License #SA669539000
Source:
Crexi
Added: Jun 3, 2025
Changed: Aug 8
Last Checked: Aug 20 at 6:18AM
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 MHG Commercial
Investment Insights
Based on property information with market context.
This freestanding suite is a high-quality medical office building located in the heart of Mesa’s Dobson Ranch professional corridor. The property offers a flexible layout that includes private offices and a reception area. Modern finishes are present throughout the suite. The property is suitable for medical, legal, or professional use. Direct parking is available. Monument signage enhances visibility. The location provides easy access to Loop 101 and US 60. The property is situated in one of Mesa’s established business districts. The suite has a size of 5244 square feet.
Key Highlights
- Prime location in Mesa's Dobson Ranch professional corridor.
- Freestanding suite with flexible layout suitable for medical, legal, or professional use.
- Direct parking and monument signage for high visibility and convenience.
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
$89,856
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
4.69%
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%
$1,797,120
$1.8M
Cap Rate 7%
$1,283,657
$1.3M
Cap Rate 9%
$998,400
$998.4K
Market Conditions
NOI Build-Up for 5,244 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
$151.7K $28.92/SF
− Vacancy
−$31.8K −$6.07/SF
EGI
$119.8K $22.85/SF
− OpEx
−$30.0K −$5.71/SF
NOI
$89.9K $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%
$1,797,120
Cap Rate 7%
$1,283,657
Cap Rate 9%
$998,400
Alternative Uses
Best Use
Office B
$1.28M
$1.12M – $1.50M
NOI $89,856 @ 7.0% cap · market cap 4.69%
Second Best
Healthcare Medical
$568.7K
$497.6K – $663.5K
NOI $39,807 @ 7.0% cap · market cap 2.08%
Theoretical Best
Office A
$1.44M
$1.26M – $1.68M
NOI $100,619 @ 7.0% cap · market cap 5.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,094
Businesses Nearby
Under-served
Demand for This Use
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
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Medical Office Space - High-quality medical office in Mesa's Dobson Ranch professional corridor.
Where is this medical office space located?
The property is located at 2222 S Dobson Rd #703 Mesa, AZ.
What is the asking price?
The asking price for this property is $1,914,060.
What are key features of this property?
This property features: Prime location in Mesa's Dobson Ranch professional corridor.; Freestanding suite with flexible layout suitable for medical, legal, or professional use.; Direct parking and monument signage for high visibility and convenience.
