Move-In-Ready Medical Office
For Sale
$900,000
3654 N POWER Road 143, Mesa, AZ 85215
Move-in-ready single-story medical office condo with a built-out chiropractic layout in a maintained professional offices complex.
Property Size2,500 SF
Price / SF$360
Days on Market47
Property Features for 3654 N POWER Road 143
General Information
Standard status
Active
Size
2,500 SF
Property subtype
COMMERCIAL
Zoning
C-2
Site & Location
Highway Access
Yes
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$1,574
Building Details
Building Size
2,500 SF
Year Built
2006
Stories
1
Listing Agency:
Cutler Commercial
(602) 955-3500
Listed By:
Jim M Lieberthal · License #SA653578000
(602) 955-3500
Source:
Jcluxuryresidential
Added: Jul 8
Changed: Aug 23
Last Checked: Aug 23 at 2:40AM
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 move-in-ready, single-story ±2,500 SF medical office condo is located within the Zahara Professional Offices complex. The space is fully built out with high-end improvements and features a highly functional layout currently used for a chiropractic practice. Parking is provided at a ratio of 5.63 per 1,000 SF.
The property is situated just off N Power Rd & E Thomas Rd, with a quick hop to Loop 202 Red Mountain Freeway and minutes from Red Mountain Gateway Shopping Center. The APN is 141-71-225. The condo is zoned C-2.
Offered for lease or purchase, the unit is suited for an owner-user or tenant looking for a turnkey medical office configuration within a professional office environment.
The property is situated just off N Power Rd & E Thomas Rd, with a quick hop to Loop 202 Red Mountain Freeway and minutes from Red Mountain Gateway Shopping Center. The APN is 141-71-225. The condo is zoned C-2.
Offered for lease or purchase, the unit is suited for an owner-user or tenant looking for a turnkey medical office configuration within a professional office environment.
Key Highlights
- Move‑in‑ready single‑story medical office condo built in 2006
- Fully built‑out chiropractic practice layout with high‑end improvements
- 2,500 SF medical office condo
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
Property Profile
Current Use
Lease Details
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 - Move-in-ready single-story medical office condo with a built-out chiropractic layout in a maintained professional offices complex.
Where is this medical office space located?
The property is located at 3654 N POWER Road 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: Move‑in‑ready single‑story medical office condo built in 2006; Fully built‑out chiropractic practice layout with high‑end improvements; 2,500 SF medical office condo
