Recently Renovated Stand-Alone
For Sale
$595,000
503 N Alma School Road, Mesa, AZ 85201
Recently renovated stand-alone office with modern upgrades, private parking, and FF&E available from the prior medspa tenant.
Property Size1,537 SF
Days on Market48
Property Features for 503 N Alma School Road
General Information
Standard status
Active
Size
1,537 SF
Property subtype
Commercial
Zoning
OC
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$3,073
Building Details
Building Size
1,537 SF
Year Built
1952
Buildings
1
Stories
1
Listing Agency:
COBE Real Estate, Inc.
(480) 628-6363
Listed By:
Timothy Zaharis · License #BR577140000
(480) 628-6363
Source:
Sunhaven-realestate
Added: Jul 8
Changed: Aug 24
Last Checked: Aug 23 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 COBE Real Estate, Inc.
Investment Insights
Based on property information with market context.
Located at 503 North Alma School Road in Mesa, this recently renovated stand-alone office is set up to serve a professional user with modern upgrades and quality interior finishes. The offering includes a private parking lot for on-site convenience, and FF&E from the prior medspa tenant is also available upon inquiry.
The property is described as having easy access to the East Valley, positioned between Loop 202, Loop 101, and SR 87. It is surrounded by a mix of retail, dining, and medical/professional services, with nearby references including Mesa Riverview, Sloan Park, and Banner Desert Medical Center.
For buyers and tenants looking for a stand-alone office configuration with parking and renovation updates, this property presents a straightforward, professional option in a healthcare and services-heavy area.
The property is described as having easy access to the East Valley, positioned between Loop 202, Loop 101, and SR 87. It is surrounded by a mix of retail, dining, and medical/professional services, with nearby references including Mesa Riverview, Sloan Park, and Banner Desert Medical Center.
For buyers and tenants looking for a stand-alone office configuration with parking and renovation updates, this property presents a straightforward, professional option in a healthcare and services-heavy area.
Key Highlights
- Stand‑alone office building built in 1952
- Recently renovated with modern upgrades and quality finishes
- Private parking lot on‑site
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
$20,729
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
3.48%
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%
$414,580
$414.6K
Cap Rate 7%
$296,129
$296.1K
Cap Rate 9%
$230,322
$230.3K
Market Conditions
NOI Build-Up for 1,537 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
$34.1K $22.20/SF
− Vacancy
−$6.5K −$4.22/SF
EGI
$27.6K $17.98/SF
− OpEx
−$6.9K −$4.50/SF
NOI
$20.7K $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 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%
$414,580
Cap Rate 7%
$296,129
Cap Rate 9%
$230,322
Alternative Uses
Best Use
Office B
$296.1K
$259.1K – $345.5K
NOI $20,729 @ 7.0% cap · market cap 3.48%
Second Best
Healthcare Medical
$295.5K
$258.5K – $344.7K
NOI $20,683 @ 7.0% cap · market cap 3.48%
Theoretical Best
Office A
$398.4K
$348.6K – $464.8K
NOI $27,887 @ 7.0% cap · market cap 4.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
606
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
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 - Recently renovated stand-alone office with modern upgrades, private parking, and FF&E available from the prior medspa tenant.
Where is this office building located?
The property is located at 503 N Alma School Road Mesa, AZ.
What is the asking price?
The asking price for this property is $595,000.
What are key features of this property?
This property features: Stand‑alone office building built in 1952; Recently renovated with modern upgrades and quality finishes; Private parking lot on‑site
