Historic District Office
For Sale
Contact for pricing
238 W 2nd St, Mesa, AZ 85201
Office space near a light rail station within half a mile in downtown Mesa’s historic district.
Property Size1,308 SF
Price / SF$401.38
Days on Market932
Property Features for 238 W 2nd St
General Information
Standard status
Active
Size
1,308 SF
Property subtype
OFFICE
Additional Details
Highway Access
Yes
Listing Agency:
COBE Real Estate
(480) 610-2400
Listed By:
Dave Collins · License #AZ SA639210000
(480) 415-0055
Source:
Moodyscre
Added: Apr 15, 2024
Changed: Oct 25
Last Checked: Nov 1 at 7:49AM
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 COBE Real Estate
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Located at 238 W 2nd St in downtown Mesa, this office space totals 1,308 square feet and is offered for sale. The property sits within the city’s Historic District of downtown Mesa.
The location provides convenient public transit access, with the Light Rail Station within 1/2 mile. It is also positioned about 2.5 miles from the Superstition Freeway, supporting connectivity for employees and customers.
The location provides convenient public transit access, with the Light Rail Station within 1/2 mile. It is also positioned about 2.5 miles from the Superstition Freeway, supporting connectivity for employees and customers.
Key Highlights
- Located in downtown Mesa’s Historic District
- Office space within 1/2 mile of a Light Rail Station
- About 2.5 miles to US 60 Superstition Freeway
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$17,640
Cap Rate
3.36%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$352,800
$352.8K
Cap Rate 7%
$252,000
$252.0K
Cap Rate 9%
$196,000
$196.0K
Market Conditions
NOI Build-Up for 1,308 SF
Gross rent
$29.0K $22.20/SF
− Vacancy
−$5.5K −$4.22/SF
EGI
$23.5K $17.98/SF
− OpEx
−$5.9K −$4.50/SF
NOI
$17.6K $13.49/SF
Area
ZIP 85201
Vacancy
19.00%
Lease Rate
$22.20 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$352,800
Cap Rate 7%
$252,000
Cap Rate 9%
$196,000
Alternative Uses
Best Use
Office B
$252.0K
$220.5K – $294.0K
NOI $17,640 @ 7.0% cap · market cap 3.36%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$339.0K
$296.7K – $395.5K
NOI $23,732 @ 7.0% cap · market cap 4.52%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,980
Businesses Nearby
Explore this area
Business Placement
Demographics for 85201, AZ
51,187
Population
23,099
Households
2.2
Avg Household Size
33
Median Age
27%
College-Educated
87%
High-School Grad
9.4 sq mi
ZIP Area
5,445
Density / Sq Mi
$63,725
Median Household Income
$40,067
Median Earnings
$1,349
Median Rent
$292,600
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in West region
Frequently Asked Questions
What type of property is this?
Office unit - Office space near a light rail station within half a mile in downtown Mesa’s historic district.
Where is this office unit located?
The property is located at 238 W 2nd St Mesa, AZ.
What is the asking price?
The asking price for this property is $525,000.
What are key features of this property?
This property features: Located in downtown Mesa’s Historic District; Office space within 1/2 mile of a Light Rail Station; About 2.5 miles to US 60 Superstition Freeway
