Medical Office
For Sale
Contact for pricing
3048 E Baseline Rd, Mesa, AZ 85204
Fully built-out clinical suite with 12 wet exam rooms and ADA-compliant restrooms.
Property Size5,000 SF
Price / SF$429.20
Days on Market263
Property Features for 3048 E Baseline Rd
General Information
Standard status
Active
Size
5,000 SF
Property subtype
Office
Zoning
PAD/L-C
Occupancy
100%
Net Operating Income
$128,740
Financials
Asking Price
$2,145,659
Cap Rate
6%
Additional Details
Highway Access
Yes
Building Details
Tenancy
Single
Listing Agency:
Bellagio Real Estate
Listed By:
Shannon Hall · License #BR117465000
Source:
Crexi
Added: Jan 27
Changed: Oct 15
Last Checked: Oct 16 at 8:52AM
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 Bellagio Real Estate
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Investment Insights
Based on property information with market context.
This medical office condominium at 3048 E Baseline Rd, Building 9, contains approximately 5,000 SF of completed clinical improvements. The layout includes 12 wet exam rooms, a medical assistant station, lobby, break room, and two ADA-compliant restrooms. The property is zoned PAD/L-C and is fully leased to Optum, a wholly owned subsidiary of UnitedHealthcare.
The current lease runs from 06/17/2022 through 06/16/2027 and provides three renewal options of three years each, along with 2.00% annual rent escalations. The property is near Dignity Health Arizona General Hospital and Banner Gateway Medical Center, with access to SR-60. The investment is identified with a 6% cap rate.
The current lease runs from 06/17/2022 through 06/16/2027 and provides three renewal options of three years each, along with 2.00% annual rent escalations. The property is near Dignity Health Arizona General Hospital and Banner Gateway Medical Center, with access to SR-60. The investment is identified with a 6% cap rate.
Key Highlights
- Approximately 5,000 SF medical office condominium at 3048 E Baseline Rd, Building 9
- 12 wet exam rooms, medical assistant station, lobby, and break room
- Two ADA‑compliant restrooms included in the clinical build‑out
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$83,680
Cap Rate
3.90%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,673,600
$1.7M
Cap Rate 7%
$1,195,429
$1.2M
Cap Rate 9%
$929,778
$929.8K
Market Conditions
NOI Build-Up for 5,000 SF
Gross rent
$138.6K $27.72/SF
− Vacancy
−$27.0K −$5.41/SF
EGI
$111.6K $22.31/SF
− OpEx
−$27.9K −$5.58/SF
NOI
$83.7K $16.74/SF
Area
ZIP 85204
Vacancy
19.50%
Lease Rate
$27.72 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,673,600
Cap Rate 7%
$1,195,429
Cap Rate 9%
$929,778
Alternative Uses
Best Use
Office B
$1.20M
$1.05M – $1.39M
NOI $83,680 @ 7.0% cap · market cap 3.90%
Second Best
Healthcare Medical
$833.1K
$729.0K – $972.0K
NOI $58,320 @ 7.0% cap · market cap 2.72%
Theoretical Best
Office A
$1.66M
$1.45M – $1.94M
NOI $116,214 @ 7.0% cap · market cap 5.42%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Lease Details
100%
Occupancy
Single-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
952
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 85204, AZ
63,808
Population
24,536
Households
2.6
Avg Household Size
33
Median Age
20%
College-Educated
84%
High-School Grad
9.9 sq mi
ZIP Area
6,445
Density / Sq Mi
$69,474
Median Household Income
$40,347
Median Earnings
$1,426
Median Rent
$296,000
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in West region
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Fully built-out clinical suite with 12 wet exam rooms and ADA-compliant restrooms.
Where is this medical office space located?
The property is located at 3048 E Baseline Rd Mesa, AZ.
What is the asking price?
The asking price for this property is $2,146,000.
What are key features of this property?
This property features: Approximately 5,000 SF medical office condominium at 3048 E Baseline Rd, Building 9; 12 wet exam rooms, medical assistant station, lobby, and break room; Two ADA‑compliant restrooms included in the clinical build‑out
