Move-in Ready Professional
For Sale
Contact for pricing
2812 N Norwalk Ste 120, Mesa, AZ 85215
Turn-key medical/professional suite designed for immediate occupancy.
Property Size1,800 SF
Price / SF$322.22
Days on Market178
Property Features for 2812 N Norwalk Ste 120
General Information
Standard status
Active
Size
1,800 SF
Property subtype
Mixed Use, Office
Zoning
light Industrial
Building Details
Year Built
2005
Stories
1
Listing Agency:
Arizona International Real Estate
(602) 478-3711
Listed By:
Adam Lewis · License #AZSA705779000
Source:
Crexi
Added: Feb 16
Changed: Aug 8
Last Checked: Aug 8 at 6:35AM
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 Arizona International Real Estate
Investment Insights
Based on property information with market context.
This professional suite is designed for immediate occupancy, offering a seamless transition for health, wellness, or professional services firms. The suite features a sophisticated lobby and a dedicated reception area. It includes three move-in-ready treatment rooms optimized for privacy and patient comfort, along with two private in-suite restrooms. Staff amenities include a lunchroom and breakroom suite. A versatile, large open back room provides a flexible space for a creative bullpen, group rehabilitation, or additional administrative workstations. The property has a size of 1800 square feet.
Key Highlights
- Move‑in ready professional suite designed for immediate occupancy.
- Features a sophisticated lobby and dedicated reception area.
- Includes three optimized treatment rooms for privacy and patient comfort.
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
$30,843
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
5.32%
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%
$616,860
$616.9K
Cap Rate 7%
$440,614
$440.6K
Cap Rate 9%
$342,700
$342.7K
Market Conditions
NOI Build-Up for 1,800 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
$52.1K $28.92/SF
− Vacancy
−$10.9K −$6.07/SF
EGI
$41.1K $22.85/SF
− OpEx
−$10.3K −$5.71/SF
NOI
$30.8K $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%
$616,860
Cap Rate 7%
$440,614
Cap Rate 9%
$342,700
Alternative Uses
Best Use
Office B
$440.6K
$385.5K – $514.1K
NOI $30,843 @ 7.0% cap · market cap 5.32%
Second Best
Healthcare Medical
$195.2K
$170.8K – $227.7K
NOI $13,664 @ 7.0% cap · market cap 2.36%
Theoretical Best
Office A
$493.4K
$431.7K – $575.6K
NOI $34,538 @ 7.0% cap · market cap 5.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
437
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 85215, AZ
16,461
Population
9,146
Households
1.8
Avg Household Size
56
Median Age
36%
College-Educated
96%
High-School Grad
82.8 sq mi
ZIP Area
199
Density / Sq Mi
$90,310
Median Household Income
$55,687
Median Earnings
$1,755
Median Rent
$398,400
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.
Frequently Asked Questions
What type of property is this?
Medical Office Space - Turn-key medical/professional suite designed for immediate occupancy.
Where is this medical office space located?
The property is located at 2812 N Norwalk Ste 120 Mesa, AZ.
What is the asking price?
The asking price for this property is $580,000.
What are key features of this property?
This property features: Move‑in ready professional suite designed for immediate occupancy.; Features a sophisticated lobby and dedicated reception area.; Includes three optimized treatment rooms for privacy and patient comfort.
