Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    2323 Mescal St Phoenix, AZ

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Office and warehouse suites available for immediate occupancy.

    Type:INDUSTRIAL
    Property size:
    1,928 SF
    Lot size:
    8.50 Acres
    Added:
    Aug 4, 2025
    Days on Market:
    266
    Last Refresh:
    Apr 5 at 8:58 pm

    Property Features for 2323 Mescal St

    General Information

    Standard status
    Active
    Size
    1,928 SF
    Lot size
    8.50 Acres
    Property subtype
    INDUSTRIAL

    Spaces For Lease

    at 2323 Mescal St Contact us

    We can help!

    Listing Contact
    Conner Lee
    Conner Lee

    Listing agent Conner Lee

    Listing office Lee & Associates | Phoenix

    Listing date Aug 4, 2025

    Source Moodyscre

    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 Lee & Associates | Phoenix

    Overview

    Phoenix Office & Industrial Space

    This property features 5 buildings totaling approximately 113,887 square feet of office and industrial space. Office and warehouse suites are available for immediate occupancy, with various office build-outs. The property offers a 16-foot clear height and a parking ratio of 2.63:1,000. Located directly off of I-17, it is in close proximity to Metro Center Mall. The property includes new spec suites. Extensive exterior improvements are planned, and renovations are currently underway. The lease rate is $1.10 per square foot NNN. One available space is 1,928 square feet.
    Location Intelligence

    Current Use by Public Records

    Davinci Meeting Rooms Marketing & Advertising Auto 4 less, ... Car Dealership Davisson Entertainment LLC Marketing & Advertising Affinity Service Electric ... Electric Utility Company DuraBumper™ Guards Big Box & Wholesale Store

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Hair Salon Auto Repair Shop Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • Public Storage — 6875 E Becker Ln, Scottsdale, AZ 85254

    Location Insight

    • Map
    • Local Demand
    City
    Phoenix
    County
    Maricopa
    State
    Arizona
    Longitude
    -112.11
    Latitude
    33.5868

    Nearby Similar for Lease

    • $20 SF/Yr

      Plaza Executive Suites @ Biltmore Office Plaza

      Professional Phoenix office space with a prestigious business address.
      2942 N 24Th St, Phoenix, AZ 85016
      View Details
    • $19 SF/Yr

      Phoenix Office Building For Lease

      Three-story office building with modern design and convenient highway access.
      1301 E Almeria Rd, Phoenix, AZ 85006
      View Details
    • $695/Mo

      Modern Office Space in Phoenix

      Prime leasing opportunity with modern amenities in Phoenix, Arizona.
      3150 N 24th St, Phoenix, AZ 85016
      View Details
    • $18 SF/Yr

      Phoenix Office Space For Lease

      Office space in a convenient Phoenix location with ample parking.
      4643 E Thomas Rd, Phoenix, AZ 85018
      View Details
    • $16 SF/Yr

      Camelback Corridor Office Space

      Prime leasing opportunity in Phoenix's prestigious Camelback Corridor.
      4520 N 12th St, Phoenix, AZ 85014
      View Details
    • $3,000/Mo

      Phoenix Office Space with Studio

      3,000 SF Phoenix office space with video podcasting studio.
      3811 N 24th St, Phoenix, AZ 85016
      View Details
    • $19 SF/Yr

      Medical Office Space For Lease

      Medical office space near St. Joseph's Hospital and Medical Center.
      333 W. Thomas Road, Phoenix, Arizona 85013
      View Details
    • $3,397/Mo

      Renovated Office/Medical Space For Lease

      Newly renovated office/medical space near light rail station in Midtown Phoenix.
      45 E Monterey Wy, Phoenix, AZ 85048
      View Details
    • $7,416/Mo

      Phoenix Restaurant Space For Lease

      Restaurant space for lease with furniture and fixtures included.
      8801 N Central Ave, Phoenix, AZ 85020
      View Details
    • Contact for pricing

      Spaces One Renaissance Tower

      2 Central Ave, Unit 1800, Phoenix, AZ 85004
      View Details
    • Contact for pricing

      AZ, Phoenix - Pinnacle Peak

      1904 Parkside Ln, Phoenix, AZ 85027
      View Details
    • Contact for pricing

      AZ, Phoenix – Block 23

      101 Washington St, Phoenix, AZ 85004
      View Details

    FAQs

    What type of property is this?
    Warehouse - Office and warehouse suites available for immediate occupancy.
    Where is this warehouse located?
    The property is located at 2323 Mescal St Phoenix, AZ.
    What is the lease rate?
    The lease rate is $1.15 SF/Yr.
    What are key features of this property?
    This property features: Located directly off I‑17, with proximity to Metro Center Mall; Office & warehouse suites ready for immediate occupancy; Extensive exterior improvements planned and renovations underway
    (602) 369-2308 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Conner Lee
    Conner Lee
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!