Medical Office Condo with
For Sale
$1,430,000
6245 E Brown Rd Unit 101, Mesa, AZ 85205
Medical office suite with on-site parking and monument signage on Brown Road.
Property Size7,562 SF
Price / SF$189.10
Days on Market35
Property Features for 6245 E Brown Rd Unit 101
General Information
Standard status
Active
Size
7,562 SF
Total Parking Spaces
33
Zoning
OC
Additional Details
Asking Price
$1,430,000
Highway Access
Yes
Amenities
Monument Signage
Building Details
Year Built
2002
Listing Agency:
Cutler Commercial
(602) 955-3500
Listed By:
Jim M Lieberthal · License #BR516852000
Source:
Ryhometeam
Added: Jul 28
Changed: Aug 29
Last Checked: Aug 30 at 7:11PM
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 Cutler Commercial
Investment Insights
Based on property information with market context.
Suite 101 is a ±7,562 SF medical office condominium within a building constructed in 2002. The property includes 33 parking spaces, consisting of 7 covered and 26 uncovered spaces, along with monument signage positioned on Brown Road. The condo plat is pending City of Mesa approval, estimated June 2026.
The suite is located just east of the southeast corner of Recker and Brown Roads in Mesa. Access to Highway 60, I-87, and Loop 202 is nearby, while Banner Baywood Medical Center, Falcon Field Airport, Red Mountain Park & Baseball Complex, golf, retail, and restaurants are also in the surrounding area. The property is zoned OC by the City of Mesa.
The suite is located just east of the southeast corner of Recker and Brown Roads in Mesa. Access to Highway 60, I-87, and Loop 202 is nearby, while Banner Baywood Medical Center, Falcon Field Airport, Red Mountain Park & Baseball Complex, golf, retail, and restaurants are also in the surrounding area. The property is zoned OC by the City of Mesa.
Key Highlights
- ±7,562 SF medical office condominium in Suite 101
- 33 parking spaces: 7 covered and 26 uncovered
- Monument signage on Brown Road
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
$129,576
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
9.06%
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%
$2,591,520
$2.6M
Cap Rate 7%
$1,851,086
$1.9M
Cap Rate 9%
$1,439,733
$1.4M
Market Conditions
NOI Build-Up for 7,562 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
$218.7K $28.92/SF
− Vacancy
−$45.9K −$6.07/SF
EGI
$172.8K $22.85/SF
− OpEx
−$43.2K −$5.71/SF
NOI
$129.6K $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%
$2,591,520
Cap Rate 7%
$1,851,086
Cap Rate 9%
$1,439,733
Alternative Uses
Best Use
Office B
$1.85M
$1.62M – $2.16M
NOI $129,576 @ 7.0% cap · market cap 9.06%
Second Best
Healthcare Medical
$820.0K
$717.5K – $956.7K
NOI $57,402 @ 7.0% cap · market cap 4.01%
Theoretical Best
Office A
$2.07M
$1.81M – $2.42M
NOI $145,096 @ 7.0% cap · market cap 10.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
523
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 85205, AZ
44,137
Population
23,473
Households
1.9
Avg Household Size
48
Median Age
30%
College-Educated
94%
High-School Grad
10.1 sq mi
ZIP Area
4,370
Density / Sq Mi
$71,294
Median Household Income
$46,378
Median Earnings
$1,363
Median Rent
$301,200
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?
Medical Office Space - Medical office suite with on-site parking and monument signage on Brown Road.
Where is this medical office space located?
The property is located at 6245 E Brown Rd Unit 101 Mesa, AZ.
What is the asking price?
The asking price for this property is $1,430,000.
What are key features of this property?
This property features: ±7,562 SF medical office condominium in Suite 101; 33 parking spaces: 7 covered and 26 uncovered; Monument signage on Brown Road
