Renovated Freestanding Office
For Sale
$899,000
606 N Stapley Dr, Mesa, AZ 85203
Two-story professional office layout with private offices, shared work areas, conference space, and multiple entrances.
Property Size2,644 SF
Price / SF$340.02
Days on Market30
Property Features for 606 N Stapley Dr
General Information
Standard status
Active
Size
2,644 SF
Property subtype
Commercial
Additional Details
Furnished
Yes
Amenities
conference room
kitchen
coffee bar
Building Details
Year Built
1978
Year Renovated
2022
Buildings
1
Stories
2
Construction
Modern
Listing Agency:
AXIS Real Estate
(602) 614-5590
Listed By:
Jason Sellers
Source:
Eastvalleyazhomesforsale
Added: Jul 31
Changed: Aug 29
Last Checked: Aug 25 at 6:12AM
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 AXIS Real Estate
Investment Insights
Based on property information with market context.
This freestanding office building provides 2,644 square feet across two stories and underwent renovation in 2022. The interior includes 9 private offices, 2 workstations within a larger shared room, reception space, and a conference room furnished with a stone table and technology that convey with the property. A kitchen serves the main level, while the second floor includes a coffee bar. Three restrooms and 3 entrances support the building’s configuration.
The property occupies the corner of N Stapley Dr and 6th St in Mesa, Arizona. Its layout is suited to professional office operations and may accommodate some medical uses, as identified in the property information.
The property occupies the corner of N Stapley Dr and 6th St in Mesa, Arizona. Its layout is suited to professional office operations and may accommodate some medical uses, as identified in the property information.
Key Highlights
- 2,644‑square‑foot freestanding office building
- Renovated in 2022
- 9 private offices and 2 workstations
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
$45,305
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
5.04%
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%
$906,100
$906.1K
Cap Rate 7%
$647,214
$647.2K
Cap Rate 9%
$503,389
$503.4K
Market Conditions
NOI Build-Up for 2,644 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
$76.5K $28.92/SF
− Vacancy
−$16.1K −$6.07/SF
EGI
$60.4K $22.85/SF
− OpEx
−$15.1K −$5.71/SF
NOI
$45.3K $17.14/SF
Area
Mesa, AZ
Vacancy
21.00%
Lease Rate
$28.92 /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%
$906,100
Cap Rate 7%
$647,214
Cap Rate 9%
$503,389
Alternative Uses
Best Use
Office B
$647.2K
$566.3K – $755.1K
NOI $45,305 @ 7.0% cap · market cap 5.04%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$724.7K
$634.2K – $845.5K
NOI $50,732 @ 7.0% cap · market cap 5.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
621
Businesses Nearby
Explore this area
Business Placement
Demographics for 85203, AZ
37,962
Population
14,020
Households
2.7
Avg Household Size
33
Median Age
29%
College-Educated
91%
High-School Grad
9.3 sq mi
ZIP Area
4,082
Density / Sq Mi
$72,851
Median Household Income
$40,524
Median Earnings
$1,388
Median Rent
$388,300
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 - Two-story professional office layout with private offices, shared work areas, conference space, and multiple entrances.
Where is this office building located?
The property is located at 606 N Stapley Dr Mesa, AZ.
What is the asking price?
The asking price for this property is $899,000.
What are key features of this property?
This property features: 2,644‑square‑foot freestanding office building; Renovated in 2022; 9 private offices and 2 workstations
