Office Building Near Light
For Sale
Contact for pricing
501 N Center St, Mesa, AZ 85201
Office property positioned within Mesa’s Arts & Culture District near cultural institutions, higher education, and regional rail service.
Property Size3,546 SF
Price / SF$232.66
Days on Market106
Property Features for 501 N Center St
General Information
Standard status
Active
Size
3,546 SF
Property subtype
OFFICE
Additional Details
Public Transit
Yes
Listing Agency:
LevRose Commercial Real Estate
(480) 947-0600
Listed By:
Gunnar Sinnett · License #SA698146000
(314) 651-0322
Source:
Moodyscre
Added: Jul 3
Changed: Oct 6
Last Checked: Oct 15 at 1:00AM
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 LevRose Commercial Real Estate
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This office building contains 3,546 square feet and is positioned in Mesa’s Downtown Arts & Culture District. Its setting places the property near the Mesa Arts Center, Arizona Museum of Natural History, and ASU’s Media/Immersive Experience Center.
The property is a few blocks north of a light-rail station with connections to Tempe, ASU, and Downtown Phoenix. Hohokam Stadium, an Athletics spring training venue, is located one mile to the north.
The property is a few blocks north of a light-rail station with connections to Tempe, ASU, and Downtown Phoenix. Hohokam Stadium, an Athletics spring training venue, is located one mile to the north.
Key Highlights
- 3,546‑square‑foot office building in Mesa’s Downtown Arts & Culture District
- Near Mesa Arts Center and Arizona Museum of Natural History
- Close to ASU’s Media/Immersive Experience Center
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$47,823
Cap Rate
5.80%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$956,460
$956.5K
Cap Rate 7%
$683,186
$683.2K
Cap Rate 9%
$531,367
$531.4K
Market Conditions
NOI Build-Up for 3,546 SF
Gross rent
$78.7K $22.20/SF
− Vacancy
−$15.0K −$4.22/SF
EGI
$63.8K $17.98/SF
− OpEx
−$15.9K −$4.50/SF
NOI
$47.8K $13.49/SF
Area
ZIP 85201
Vacancy
19.00%
Lease Rate
$22.20 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$956,460
Cap Rate 7%
$683,186
Cap Rate 9%
$531,367
Alternative Uses
Best Use
Office B
$683.2K
$597.8K – $797.1K
NOI $47,823 @ 7.0% cap · market cap 5.80%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$919.1K
$804.2K – $1.07M
NOI $64,339 @ 7.0% cap · market cap 7.80%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,024
Businesses Nearby
Explore this area
Business Placement
Demographics for 85201, AZ
51,187
Population
23,099
Households
2.2
Avg Household Size
33
Median Age
27%
College-Educated
87%
High-School Grad
9.4 sq mi
ZIP Area
5,445
Density / Sq Mi
$63,725
Median Household Income
$40,067
Median Earnings
$1,349
Median Rent
$292,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in West region
Frequently Asked Questions
What type of property is this?
Office building - Office property positioned within Mesa’s Arts & Culture District near cultural institutions, higher education, and regional rail service.
Where is this office building located?
The property is located at 501 N Center St Mesa, AZ.
What is the asking price?
The asking price for this property is $825,000.
What are key features of this property?
This property features: 3,546‑square‑foot office building in Mesa’s Downtown Arts & Culture District; Near Mesa Arts Center and Arizona Museum of Natural History; Close to ASU’s Media/Immersive Experience Center
