Listing Agency: Commercial Properties Inc Show Phone

Listed By: Matt Zaccardi · License #SA584155000 Show Phone

Source: Moodyscre

Added: Oct 16 Changed: Oct 25 Last Checked: Oct 30 at 4:24PM

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Investment Insights

Based on property information with market context.

This 1,177-square-foot office unit is at 3635 E Inverness Ave in Mesa. It faces Dana Park Village Square across Val Vista Drive, an open-air shopping and dining center with 329,000 square feet of space and AJ's Fine Foods and Barnes & Noble as anchors.

The property is approximately one-quarter mile south of the US 60 and Val Vista Drive interchange. ADOT 2025 figures show 213,500 vehicles per day on US 60 at Val Vista Drive, 45,755 on Val Vista Drive, and 25,169 on Baseline Road. The combined Val Vista Drive and Baseline Road count is approximately 70,900 vehicles per day. The five-mile population is 363,295, with average household income of $111,988.

Key Highlights

• 1,177 square feet of office space
• Across Val Vista Drive from Dana Park Village Square, a 329,000 SF open‑air shopping and dining center
• AJ's Fine Foods and Barnes & Noble anchor Dana Park Village Square

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$20,168

Cap Rate

4.57%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$403,360 $403.4K

Cap Rate 7%

$288,114 $288.1K

Cap Rate 9%

$224,089 $224.1K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,177 SF

Gross rent

$34.0K $28.92/SF

− Vacancy

−$7.1K −$6.07/SF

EGI

$26.9K $22.85/SF

− OpEx

−$6.7K −$5.71/SF

NOI

$20.2K $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 Rate 5%

$403,360

Cap Rate 7%

$288,114

Cap Rate 9%

$224,089

Alternative Uses

Best Use

Office B

$288.1K

$252.1K – $336.1K (±1% cap)

NOI $20,168 @ 7.0% cap · market cap 4.57%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$322.6K

$282.3K – $376.4K (±1% cap)

NOI $22,584 @ 7.0% cap · market cap 5.12%

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

Akers Pearson Eyecare Physician Lisa Reyes Physician Jacquelyn Wyman Physician Mesa Mobile Auto ... Auto Repair Shop Marisa Beebe, O.D. Physician

Suggested Use

Top Pick Parking Lot & Garage (Bike/Boat/Book/etc) Store Grocery & Convenience Store Butcher Locksmith Wine and Liquor Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Yes

Highway access

Yes

Paved road access

Location Intelligence

Trade Area within ½ mile

1,511

Businesses Nearby

Explore this area Business Placement

Demographics for 85206, AZ

36,713

Population

19,078

Households

1.9

Avg Household Size

48

Median Age

34%

College-Educated

92%

High-School Grad

9.4 sq mi

ZIP Area

3,906

Density / Sq Mi

$69,986

Median Household Income

$45,422

Median Earnings

$1,717

Median Rent

$322,600

Median Home Value

Market

Vacancy Rate% for Office in West region

11% 2019

14.1% 2020

15.5% 2021

17.2% 2022

19.9% 2023

21% 2024

20.8% 2025

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Frequently Asked Questions

What type of property is this?

Office unit - The suite is approximately a quarter mile south of the US 60 and Val Vista Drive interchange.

Where is this office unit located?

The property is located at 3635 E Inverness Ave Mesa, AZ.

What is the asking price?

The asking price for this property is $441,375.

What are key features of this property?

This property features: 1,177 square feet of office space; Across Val Vista Drive from Dana Park Village Square, a 329,000 SF open‑air shopping and dining center; AJ's Fine Foods and Barnes & Noble anchor Dana Park Village Square