Income Property Near
1818 E Baseline Rd Mesa, AZ 85204
1818 E Baseline Rd, Mesa, AZ, 85204
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For Sale
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Income-producing property with potential for increased cap rate.
Property Size9,101 SF
Price / SF$247.23
Days on Market637
Property Features for 1818 E Baseline Rd
General Information
- Standard status
- Active
- Size
- 9,101 SF
- Property subtype
- Mixed Use, Office
Listing Agency
Delex Realty
(602) 910-3002
Listed by
Lisa A. Ross · License #AZ SA561439000
Source
Crexi
Added: Oct 19, 2024 Checked: Jul 16 at 4:45 am
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 Delex Realty
Investment Insights
Based on property information with market context.
This income-producing property, offered below market value, currently features a cap rate of 6.39% with the potential to reach 7.5% upon leasing of the basement office space. The basement office offers 1,900 square feet of space. Strategically positioned across from Gilbert, the property benefits from an excellent location at Mesa prices. Situated just west of Gilbert Road and near the US-60 freeway, the property provides convenient accessibility. The property is ideal for a medical practice or other professional services. The Learning Center tenant has 3 years remaining on a 5-year lease, while the Dermatology tenant has 2 years remaining on their 5-year lease. The property includes a 2,400-square-foot pediatric office and a 4,800-square-foot Pinnacle Dermatology office. The total property size is 9,101 square feet.
Key Highlights
- High CAP Rate: Current 6.39% with potential to reach 7.5%.
- Below Market Value: Opportunity to acquire property at a discounted price.
- Seller Financing: Seller will carry $1 million.
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $252.3k | $27.72 |
| − Vacancy | −$49.2k | −$5.41 |
| EGI | $203.1k | $22.31 |
| − OpEx | −$50.8k | −$5.58 |
| NOI | $152.3k | $16.74 |
9,101 SF · lease $27.72/SF/yr · vacancy 19.50% · expense 25.00%
Alternative Uses
Best Use
Office B
$2.18M
$1.90M – $2.54M
NOI $152,314 @ 7.0% cap · market cap 6.77%
Second Best
Healthcare Medical
$1.52M
$1.33M – $1.77M
NOI $106,154 @ 7.0% cap · market cap 4.72%
Theoretical Best
Office A
$3.02M
$2.64M – $3.53M
NOI $211,532 @ 7.0% cap · market cap 9.40%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
7 Garden Dumpling ...
Restaurant
The Learning Center by ...
Training Center
Dr. Brent Sloten
Physician
Brent Drew Sloten
Physician
ALISON M PETERSON
Physician
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FAQs
What type of property is this?
Mixed-use property - Income-producing property with potential for increased cap rate.
Where is this mixed-use property located?
The property is located at 1818 E Baseline Rd Mesa, AZ.
What is the asking price?
The asking price for this property is $2,250,000.
What are key features of this property?
This property features: High CAP Rate: Current 6.39% with potential to reach 7.5%.; Below Market Value: Opportunity to acquire property at a discounted price.; Seller Financing: Seller will carry $1 million.
