Flex Space with Office
For Sale
Contact for pricing
441 S Robson, Mesa, AZ 85210
C-3-zoned flex space includes reception, private offices, conference, break-room, and restroom areas.
Property Size24,000 SF
Price / SF$145.83
Days on Market18
Property Features for 441 S Robson
General Information
Standard status
Active
Size
24,000 SF
Property subtype
Industrial
Zoning
C-3
Warehouse & Industrial
Clear Height
16 ft
Power
400 amps
Additional Details
Utilities to Site
Yes
Amenities
reception
conference room
break room
restrooms
mezzanine
Building Details
Year Built
1950
Listing Agency:
Commercial Properties Inc.
(480) 966-2301
Listed By:
Paul Woods · License #568117000
Source:
Crexi
Added: Jul 24
Changed: Aug 4
Last Checked: Aug 9 at 12:44PM
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 Commercial Properties Inc.
Investment Insights
Based on property information with market context.
This 24,000-square-foot flex property in Mesa includes a dedicated office component of ±2,000 SF, representing 22% of the building. The office layout provides reception, four offices, a conference room, break room, two restrooms, and a mezzanine. The property also features 400 AMP electrical service and 16-foot clear height.
Built in 1950, the building is located at 441 S Robson in Mesa, Arizona and carries C-3 zoning. Its combination of office improvements, mezzanine space, electrical capacity, and clear height supports a range of flex-oriented commercial applications.
Built in 1950, the building is located at 441 S Robson in Mesa, Arizona and carries C-3 zoning. Its combination of office improvements, mezzanine space, electrical capacity, and clear height supports a range of flex-oriented commercial applications.
Key Highlights
- 24,000 SF flex property with ±2,000 SF of office area
- Office component accounts for 22% of the building
- Reception, 4 offices, conference room, and break room
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
$290,066
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
8.29%
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%
$5,801,320
$5.8M
Cap Rate 7%
$4,143,800
$4.1M
Cap Rate 9%
$3,222,956
$3.2M
Market Conditions
NOI Build-Up for 24,000 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
$365.8K $15.24/SF
− Vacancy
−$24.5K −$1.02/SF
EGI
$341.3K $14.22/SF
− OpEx
−$51.2K −$2.13/SF
NOI
$290.1K $12.09/SF
Area
Mesa, AZ
Vacancy
6.70%
Lease Rate
$15.24 /SF/Yr
Expense Ratio
15.00%
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%
$5,801,320
Cap Rate 7%
$4,143,800
Cap Rate 9%
$3,222,956
Alternative Uses
Best Use
Office B
$5.87M
$5.14M – $6.85M
NOI $411,242 @ 7.0% cap · market cap 11.75%
Second Best
Warehouse
$4.14M
$3.63M – $4.83M
NOI $290,066 @ 7.0% cap · market cap 8.29%
Theoretical Best
Office A
$6.58M
$5.76M – $7.68M
NOI $460,500 @ 7.0% cap · market cap 13.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
16 ft
Clear height
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,675
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 85210, AZ
40,351
Population
16,292
Households
2.5
Avg Household Size
32
Median Age
25%
College-Educated
84%
High-School Grad
6.7 sq mi
ZIP Area
6,023
Density / Sq Mi
$59,680
Median Household Income
$38,479
Median Earnings
$1,383
Median Rent
$301,600
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?
Flex space - C-3-zoned flex space includes reception, private offices, conference, break-room, and restroom areas.
Where is this flex space located?
The property is located at 441 S Robson Mesa, AZ.
What is the asking price?
The asking price for this property is $3,500,000.
What are key features of this property?
This property features: 24,000 SF flex property with ±2,000 SF of office area; Office component accounts for 22% of the building; Reception, 4 offices, conference room, and break room
