Building Details

Year Built 2005

Tenancy Single

Listing Agency: SLW Realty Group, LLC

Listed By: Sabrina Walters · License #BR022776000 Show Phone

Source: Gileshometeamaz

Added: Aug 5 Changed: Sep 14 Last Checked: Oct 12 at 10:34PM

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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 SLW Realty Group, LLC

Investment Insights

Based on property information with market context.

Located at 7165 E University Dr Unit 171 in Mesa, Arizona, this 3,100-square-foot office building was constructed in 2005 and has a tenant in place. The property is organized into east and west office areas, each with its own reception space. The west side contains six offices and a kitchen, while the east side includes five offices and phone server equipment. Men's and women's bathrooms are positioned between the two sides.

The existing tenancy is associated with about a 7% cap rate. The configuration provides separate office areas within one building, with shared restroom facilities located centrally between them.

Key Highlights

• Tenant in place with about a 7% cap rate
• 3,100‑square‑foot office building constructed in 2005
• West side includes reception, kitchen, and 6 offices

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$40,260

Cap Rate

4.11%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$805,200 $805.2K

Cap Rate 7%

$575,143 $575.1K

Cap Rate 9%

$447,333 $447.3K

Market Conditions

NOI Build-Up for 3,100 SF

Gross rent

$68.8K $22.20/SF

− Vacancy

−$15.1K −$4.88/SF

EGI

$53.7K $17.32/SF

− OpEx

−$13.4K −$4.33/SF

NOI

$40.3K $12.99/SF

Area

ZIP 85207

Vacancy

22.00%

Lease Rate

$22.20 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$805,200

Cap Rate 7%

$575,143

Cap Rate 9%

$447,333

Alternative Uses

Best Use

Office B

$575.1K

$503.3K – $671.0K (±1% cap)

NOI $40,260 @ 7.0% cap · market cap 4.11%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$779.6K

$682.2K – $909.5K (±1% cap)

NOI $54,572 @ 7.0% cap · market cap 5.57%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Mighty Earthworks LLC General Contractor CoreCodec, Inc. (Bike/Boat/Book/etc) Store East Mesa Family ... Pediatrician ABI Insurance Insurance Agency Laci Waddill American ... Insurance Agency

Suggested Use

Top Pick Law Firm Real Estate Agency Daycare Center Bakery HVAC Service Parking Lot & Garage

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Single-tenant

Tenancy

Location Intelligence

Trade Area within ½ mile

563

Businesses Nearby

Explore this area Business Placement

Demographics for 85207, AZ

50,108

Population

22,747

Households

2.2

Avg Household Size

45

Median Age

36%

College-Educated

92%

High-School Grad

29.4 sq mi

ZIP Area

1,704

Density / Sq Mi

$99,439

Median Household Income

$50,509

Median Earnings

$1,595

Median Rent

$460,800

Median Home Value

Market

Vacancy Rate% for Office in West region

11% 2019

14.1% 2020

15.5% 2021

17.2% 2022

19.9% 2023

21% 2024

20.8% 2025

Questions? Ask Rey

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What type of property is this? Where is this office buildings located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Office building - Dual-sided layout includes reception areas, private offices, a kitchen, restrooms, and phone server equipment.

Where is this office building located?

The property is located at 7165 E University Dr Unit 171 Mesa, AZ.

What is the asking price?

The asking price for this property is $980,000.

What are key features of this property?

This property features: Tenant in place with about a 7% cap rate; 3,100‑square‑foot office building constructed in 2005; West side includes reception, kitchen, and 6 offices