Updated Two-Bedroom
For Sale
$267,500
709 S Power Road 202, Mesa, AZ 85208
The home combines refreshed bathrooms, stainless steel kitchen appliances, in-home laundry, and a covered patio.
Property Size1,209 SF
Price / SF$221.26
Days on Market19
Property Features for 709 S Power Road 202
General Information
Standard status
Active
Size
1,209 SF
Property subtype
Apartment
Taxes and HOA fees
Annual Taxes
$1,196
Building Details
Building Size
1,209 SF
Year Built
1979
Listing Agency:
Choice Realty Services, LLC
Listed By:
Pam Geroux
(602) 689-5593
Source:
Gillettegroupaz
Added: Sep 14
Changed: Sep 30
Last Checked: Oct 1 at 7:49PM
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 Choice Realty Services, LLC
Investment Insights
Based on property information with market context.
This 1,209-square-foot residence has two bedrooms and two bathrooms. Built in 1979, it features updated baths, new carpet, stainless steel kitchen appliances, and an open living area. In-home laundry and a covered patio add to the home’s existing features; the patio is reached directly from the primary suite and faces the Arizona Golf Resort.
The property is near the US 60 freeway, Superstition Springs shopping and dining, and Phoenix Mesa Gateway Airport.
The property is near the US 60 freeway, Superstition Springs shopping and dining, and Phoenix Mesa Gateway Airport.
Key Highlights
- 1,209‑square‑foot home with two bedrooms and two bathrooms
- Updated bathrooms and new carpet
- Stainless steel kitchen appliances and an open living area
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
$9,455
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
3.53%
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%
$189,100
$189.1K
Cap Rate 7%
$135,071
$135.1K
Cap Rate 9%
$105,056
$105.1K
Market Conditions
NOI Build-Up for 1,209 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
$18.4K $15.24/SF
− Vacancy
−$1.2K −$1.02/SF
EGI
$17.2K $14.22/SF
− OpEx
−$7.7K −$6.40/SF
NOI
$9.5K $7.82/SF
Area
Mesa, AZ
Vacancy
6.70%
Lease Rate
$15.24 /SF/Yr
Expense Ratio
45.00%
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%
$189,100
Cap Rate 7%
$135,071
Cap Rate 9%
$105,056
Alternative Uses
Best Use
Apartment 5plus
$135.1K
$118.2K – $157.6K
NOI $9,455 @ 7.0% cap · market cap 3.53%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$331.4K
$290.0K – $386.6K
NOI $23,198 @ 7.0% cap · market cap 8.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
720
Businesses Nearby
Explore this area
Business Placement
Demographics for 85208, AZ
36,820
Population
18,699
Households
2
Avg Household Size
45
Median Age
21%
College-Educated
89%
High-School Grad
8.1 sq mi
ZIP Area
4,546
Density / Sq Mi
$68,452
Median Household Income
$40,913
Median Earnings
$1,438
Median Rent
$261,200
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - The home combines refreshed bathrooms, stainless steel kitchen appliances, in-home laundry, and a covered patio.
Where is this residential income property located?
The property is located at 709 S Power Road 202 Mesa, AZ.
What is the asking price?
The asking price for this property is $267,500.
What are key features of this property?
This property features: 1,209‑square‑foot home with two bedrooms and two bathrooms; Updated bathrooms and new carpet; Stainless steel kitchen appliances and an open living area
