Single-Story Medical Office
For Sale
$900,000
3654 N Power Rd Unit 143, Mesa, AZ 85215
Built-out professional suite with covered reserved parking and C-2 zoning near Loop 202.
Property Size2,500 SF
Price / SF$360
Days on Market88
Property Features for 3654 N Power Rd Unit 143
General Information
Standard status
Active
Size
2,500 SF
Total Parking Spaces
2
Property subtype
Commercial
Zoning
C-2
Site & Location
Highway Access
Yes
Road Access
Yes
Additional Details
Asking Price
$900,000
Office Units
1
Building Details
Year Built
2006
Stories
1
Parking Ratio
5.63 per 1,000 SF
Listing Agency:
Cutler Commercial
(602) 955-3500
Listed By:
Jim M Lieberthal · License #BR516852000
Source:
Phoenixmetrohomefinder
Added: Jun 6
Changed: Aug 31
Last Checked: Aug 31 at 5:30PM
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 Cutler Commercial
Investment Insights
Based on property information with market context.
This single-story medical office condominium contains approximately 2,500 SF and is located within the Zahara Professional Offices complex. The suite is fully built out and has a functional configuration currently used for a chiropractic practice. The property was built in 2006 and offers a professional setting for an owner-user or medical office operation.
Located at 3654 N Power Rd Unit 143 in Mesa, the property sits just off N Power Rd and E Thomas Rd, with access to Loop 202 Red Mountain Freeway and proximity to Red Mountain Gateway Shopping Center. C-2 zoning supports its commercial office setting. Parking is provided at a ratio of 5.63 spaces per 1,000 SF, along with two covered reserve parking spaces.
Located at 3654 N Power Rd Unit 143 in Mesa, the property sits just off N Power Rd and E Thomas Rd, with access to Loop 202 Red Mountain Freeway and proximity to Red Mountain Gateway Shopping Center. C-2 zoning supports its commercial office setting. Parking is provided at a ratio of 5.63 spaces per 1,000 SF, along with two covered reserve parking spaces.
Key Highlights
- Approximately 2,500 SF single‑story medical office condominium
- Fully built‑out suite currently used for a chiropractic practice
- Two covered reserve parking spaces included
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
$42,838
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
4.76%
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%
$856,760
$856.8K
Cap Rate 7%
$611,971
$612.0K
Cap Rate 9%
$475,978
$476.0K
Market Conditions
NOI Build-Up for 2,500 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
$72.3K $28.92/SF
− Vacancy
−$15.2K −$6.07/SF
EGI
$57.1K $22.85/SF
− OpEx
−$14.3K −$5.71/SF
NOI
$42.8K $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%
$856,760
Cap Rate 7%
$611,971
Cap Rate 9%
$475,978
Alternative Uses
Best Use
Office B
$612.0K
$535.5K – $714.0K
NOI $42,838 @ 7.0% cap · market cap 4.76%
Second Best
Healthcare Medical
$271.1K
$237.2K – $316.3K
NOI $18,977 @ 7.0% cap · market cap 2.11%
Theoretical Best
Office A
$685.3K
$599.6K – $799.5K
NOI $47,969 @ 7.0% cap · market cap 5.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Office units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
256
Businesses Nearby
Under-served
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 - Built-out professional suite with covered reserved parking and C-2 zoning near Loop 202.
Where is this medical office space located?
The property is located at 3654 N Power Rd Unit 143 Mesa, AZ.
What is the asking price?
The asking price for this property is $900,000.
What are key features of this property?
This property features: Approximately 2,500 SF single‑story medical office condominium; Fully built‑out suite currently used for a chiropractic practice; Two covered reserve parking spaces included
