Federal Office Building
For Sale
Contact for pricing
396 N CAMINO MERCADO, Casa Grande, AZ 85122
Built in 1999, this 18,520-square-foot office building is 100% leased to GSA for U.S. Customs and Border Protection.
Property Size18,520 SF
Lot Size3.33 Acres
Price / SF$399.95
Days on Market90
Property Features for 396 N CAMINO MERCADO
General Information
Standard status
Active
Size
18,520 SF
Class
A
Lot size
3.33 Acres
Property subtype
Office
Occupancy
100%
Lease Type
Gross
Building Details
Year Built
1999
Stories
1
Units
1
Tenancy
Single
Listing Agency:
Colliers - Dallas, Texas
Listed By:
Geoff Ficke · License #TX 0593051
(972) 759-7814
Source:
Crexi
Added: Jun 8
Changed: Sep 4
Last Checked: Sep 4 at 7:28PM
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 Colliers - Dallas, Texas
Investment Insights
Based on property information with market context.
This office building constructed in 1999 provides a dedicated federal workplace for U.S. Customs and Border Protection under a GSA lease. The offering is 100% leased to the GSA, with operations tied to CBP’s federal mission and field presence across the United States.
The property is located at 396 North Camino Mercado in Casa Grande, Arizona, on 3.33 acres. Casa Grande sits in Pinal County between Phoenix and Tucson and is positioned in the Golden Corridor at the intersection of I-8 and I-10.
The building is a single, purpose-focused office asset designed for federal occupancy, currently supporting CBP field operations through the GSA-managed workplace framework.
The property is located at 396 North Camino Mercado in Casa Grande, Arizona, on 3.33 acres. Casa Grande sits in Pinal County between Phoenix and Tucson and is positioned in the Golden Corridor at the intersection of I-8 and I-10.
The building is a single, purpose-focused office asset designed for federal occupancy, currently supporting CBP field operations through the GSA-managed workplace framework.
Key Highlights
- 18,520 SF office building built in 1999
- 3.33‑acre site at 396 North Camino Mercado in Casa Grande, Arizona
- 100% leased to GSA for U.S. Customs and Border Protection (CBP)
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
$255,454
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
3.45%
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%
$5,109,080
$5.1M
Cap Rate 7%
$3,649,343
$3.6M
Cap Rate 9%
$2,838,378
$2.8M
Market Conditions
NOI Build-Up for 18,520 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
$431.1K $23.28/SF
− Vacancy
−$90.5K −$4.89/SF
EGI
$340.6K $18.39/SF
− OpEx
−$85.2K −$4.60/SF
NOI
$255.5K $13.79/SF
Area
Pinal County, AZ
Vacancy
21.00%
Lease Rate
$23.28 /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%
$5,109,080
Cap Rate 7%
$3,649,343
Cap Rate 9%
$2,838,378
Alternative Uses
Best Use
Office B
$3.65M
$3.19M – $4.26M
NOI $255,454 @ 7.0% cap · market cap 3.45%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.12M
$4.48M – $5.97M
NOI $358,404 @ 7.0% cap · market cap 4.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
364
Businesses Nearby
Explore this area
Business Placement
Demographics for 85122, AZ
55,063
Population
24,238
Households
2.3
Avg Household Size
39
Median Age
19%
College-Educated
88%
High-School Grad
56.4 sq mi
ZIP Area
976
Density / Sq Mi
$64,243
Median Household Income
$38,679
Median Earnings
$1,289
Median Rent
$242,500
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Built in 1999, this 18,520-square-foot office building is 100% leased to GSA for U.S. Customs and Border Protection.
Where is this office building located?
The property is located at 396 N CAMINO MERCADO Casa Grande, AZ.
What is the asking price?
The asking price for this property is $7,407,000.
What are key features of this property?
This property features: 18,520 SF office building built in 1999; 3.33‑acre site at 396 North Camino Mercado in Casa Grande, Arizona; 100% leased to GSA for U.S. Customs and Border Protection (CBP)
