Zoned LI Office
For Sale
$610,000
2812 N Norwalk Suite 110, Mesa, AZ 85215
Office building with LI zoning at 2812 N Norwalk, suited for office or office-building uses.
Property Size1,800 SF
Price / SF$338.89
Days on Market61
Property Features for 2812 N Norwalk Suite 110
General Information
Standard status
Active
Size
1,800 SF
Property subtype
Office
Zoning
LI
Building Details
Building Size
1,800 SF
Year Built
2006
Listing Agency:
Commercial Properties Inc
(480) 818-2142
Listed By:
Ken Elmer · License #SA034992000
(480) 818-2142
Source:
Corfac
Added: Jun 11
Changed: Aug 8
Last Checked: Jun 13 at 2:17AM
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 property is a 1,800 SF office building located in Suite 110, presented as a well-maintained, versatile option for office use. The available configuration is intended for office or office-building purposes, supported by the building’s designated zoning designation.
Situated at 2812 N Norwalk in Mesa, Arizona, the property is described as being in the East Valley area. This location is positioned to serve businesses looking for a foothold within the East Valley market, with the asset specifically marketed around business operations and office occupancy needs.
For tenants, investors, or owner-users, the combination of an office-focused layout and LI zoning can support a range of office applications consistent with the zoning designation. The property’s condition and the stated suitability for office or office-building use make it a practical choice for organizations seeking a dedicated office asset rather than a flexible multi-use setting.
Situated at 2812 N Norwalk in Mesa, Arizona, the property is described as being in the East Valley area. This location is positioned to serve businesses looking for a foothold within the East Valley market, with the asset specifically marketed around business operations and office occupancy needs.
For tenants, investors, or owner-users, the combination of an office-focused layout and LI zoning can support a range of office applications consistent with the zoning designation. The property’s condition and the stated suitability for office or office-building use make it a practical choice for organizations seeking a dedicated office asset rather than a flexible multi-use setting.
Key Highlights
- 1,800 SF office building at 2812 N Norwalk, Suite 110, Mesa, AZ 85215
- Built in 2006
- LI zoning supports office and office‑building uses
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
5.06%
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 5.06%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$493.4K
$431.7K – $575.6K
NOI $34,538 @ 7.0% cap · market cap 5.66%
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
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
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Frequently Asked Questions
What type of property is this?
Office units - Office building with LI zoning at 2812 N Norwalk, suited for office or office-building uses.
Where is this office units located?
The property is located at 2812 N Norwalk Suite 110 Mesa, AZ.
What is the asking price?
The asking price for this property is $610,000.
What are key features of this property?
This property features: 1,800 SF office building at 2812 N Norwalk, Suite 110, Mesa, AZ 85215; Built in 2006; LI zoning supports office and office‑building uses
