Two-Suite Office
For Sale
Contact for pricing
3850 E Baseline Rd, Mesa, AZ 85206
Updated office property with reception areas, private offices, and conference space near Lakeview Village shopping center.
Property Size5,000 SF
Price / SF$320
Days on Market11
Property Features for 3850 E Baseline Rd
General Information
Standard status
Active
Size
5,000 SF
Property subtype
OFFICE
Listing Agency:
COBE Real Estate
(480) 610-2400
Listed By:
Bob Winegar
(480) 861-7717
Source:
Moodyscre
Added: Sep 17
Changed: Sep 24
Last Checked: Sep 26 at 6:56AM
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 COBE Real Estate
Investment Insights
Based on property information with market context.
This updated office property contains 5,000 square feet arranged as two suites with 10 offices, a spacious conference room, restrooms, and reception areas. The configuration supports occupancy of one or both suites, with the existing tenant planning to vacate.
The property is located at 3850 E Baseline Rd in Mesa, near the intersection of Baseline Rd and Val Vista Dr. Lakeview Village shopping center is directly across the street, and US-60 is nearby.
The property is located at 3850 E Baseline Rd in Mesa, near the intersection of Baseline Rd and Val Vista Dr. Lakeview Village shopping center is directly across the street, and US-60 is nearby.
Key Highlights
- 5,000‑square‑foot office property configured as 2 suites
- 10 offices with a spacious conference room
- Restrooms and reception areas 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
$85,676
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
5.35%
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%
$1,713,520
$1.7M
Cap Rate 7%
$1,223,943
$1.2M
Cap Rate 9%
$951,956
$952.0K
Market Conditions
NOI Build-Up for 5,000 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
$144.6K $28.92/SF
− Vacancy
−$30.4K −$6.07/SF
EGI
$114.2K $22.85/SF
− OpEx
−$28.6K −$5.71/SF
NOI
$85.7K $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%
$1,713,520
Cap Rate 7%
$1,223,943
Cap Rate 9%
$951,956
Alternative Uses
Best Use
Office B
$1.22M
$1.07M – $1.43M
NOI $85,676 @ 7.0% cap · market cap 5.35%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.37M
$1.20M – $1.60M
NOI $95,938 @ 7.0% cap · market cap 6.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
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
Check the figures for this property
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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?
Office units - Updated office property with reception areas, private offices, and conference space near Lakeview Village shopping center.
Where is this office units located?
The property is located at 3850 E Baseline Rd Mesa, AZ.
What is the asking price?
The asking price for this property is $1,600,000.
What are key features of this property?
This property features: 5,000‑square‑foot office property configured as 2 suites; 10 offices with a spacious conference room; Restrooms and reception areas included
