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For sale
Office Units
AZ
Mesa
506 W University Dr

Freestanding Building Near Freeways

506 W University Dr, Mesa, AZ

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For Sale

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Freestanding building with RM-4 zoning, suitable for various commercial uses.

Type:OFFICE

Property size:

1,532 SF

Lot size:

0.23 Acres

Price / SF:

$293/SF

HighLights

RM‑4 Zoning allows for a wide range of commercial uses
Recent building improvements: new plumbing, A/C, roof, and exterior paint (Dec 2024)
Freestanding building
Conveniently located near the 101, 202, and 60 freeways
Existing childcare business available for sale with potential property lease
Proximity to W University Dr, Country Club Dr, and other business/retail amenities

We can help!

Listing Contact

Grafton Milne

For Sale

Contact for pricing

Freestanding building with RM-4 zoning, suitable for various commercial uses.

Type:OFFICE

Property size:

1,532 SF

Lot size:

0.23 Acres

Price / SF:

$293/SF

Added:: Aug 26, 2025
Days on Market:: 297
Last Refresh:: May 19 at 8:56 pm

Property Features for 506 W University Dr

General Information

Standard status: Active
Size: 1,532 SF
Lot size: 0.23 Acres
Property subtype: OFFICE

We can help!

Listing Contact

Grafton Milne

Listing agent Grafton Milne License #BR584594000

Listing office Menlo Group Commercial Real Estate

Listing date Aug 26, 2025

Source Moodyscre

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 Menlo Group Commercial Real Estate

HighLights

RM‑4 Zoning allows for a wide range of commercial uses
Recent building improvements: new plumbing, A/C, roof, and exterior paint (Dec 2024)
Freestanding building
Conveniently located near the 101, 202, and 60 freeways
Existing childcare business available for sale with potential property lease
Proximity to W University Dr, Country Club Dr, and other business/retail amenities

Overview

This freestanding building, located off W University Dr and Country Club Dr, offers 1,532 square feet of space. The RM-4 zoning allows for commercial uses such as business and professional offices, medical and dental offices, other professional services, restaurants, and retail, potentially subject to a Special Use Permit (SUP). The building's layout includes an open office or classroom space, multiple restrooms, a small kitchen area, and one private office. Building improvements completed within the last 5-6 years include plumbing replacement, a new A/C unit, and a new roof. Exterior paint was updated in December 2024. The property is near the 101, 202, and 60 freeways and is in close proximity to other business and retail amenities. An existing childcare business is also available for sale, with the potential to lease the property.

Local Financial Insights For Office B

Simulate Cap Rate and NOI

NOI Build-Up

Component	$	$/SF
Gross rent	$44.3k	$28.92
− Vacancy	−$9.3k	−$6.07
EGI	$35.0k	$22.85
− OpEx	−$8.8k	−$5.71
NOI	$26.3k	$17.14

1,532 SF · lease $28.92/SF/yr · vacancy 21.00% · expense 25.00%

Alternative Uses

Best Use

Office B

$375.0K

$328.1K – $437.5K (±1% cap)

NOI $26,251 @ 7.0% cap · market cap 5.83%

Second Best

—

no second resolved use

Theoretical Best

Office A

$419.9K

$367.4K – $489.9K (±1% cap)

NOI $29,395 @ 7.0% cap · market cap 6.53%

Zoning and permitted uses should be independently verified with local authorities.

Property Profile Location Intelligence

Current Use by Public Records

The Yellow Brick House ... Daycare Center

Suggested Use

Location Insight

Map
Local Demand

City: Mesa
County: Maricopa
State: Arizona
Longitude: -111.842
Latitude: 33.4227

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For sale
Office Units
AZ
Mesa
506 W University Dr

What type of property is this?

Office units - Freestanding building with RM-4 zoning, suitable for various commercial uses.

Where is this office units located?

The property is located at 506 W University Dr Mesa, AZ.

What is the asking price?

The asking price for this property is $450,000.

What are key features of this property?

This property features: RM‑4 Zoning allows for a wide range of commercial uses; Recent building improvements: new plumbing, A/C, roof, and exterior paint (Dec 2024); Freestanding building

506 W University Dr, Mesa, AZ

Freestanding building with RM-4 zoning, suitable for various commercial uses.

Property Features for 506 W University Dr

General Information

We can help!

HighLights

Overview

Local Financial Insights For Office B

Simulate Cap Rate and NOI

Alternative Uses

Current Use by Public Records

Suggested Use

Location Insight

Nearby Similar for Sale

Mesa Fourplex in Prime Location

Multi-Tenant Strip Center For Sale

Income Property in Downtown Mesa

Mesa Duplex with Leases

Duplex Studio Units

Mesa Duplex: Investment Opportunity

Medical Office Building

Mesa Restaurant Property For Sale

Drive-Through Restaurant Site

New Mesa Fourplex Investment Opportunity

Mesa Medical Office Building For Sale

Valvoline NNN Ground Lease Investment

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