Freestanding Office in North
For Sale
Contact for pricing
2610 E University Dr, Mesa, AZ 85213
Freestanding office building with plentiful parking and monument signage.
Property Size17,760 SF
Price / SF$222.41
Days on Market991
Property Features for 2610 E University Dr
General Information
Standard status
Active
Size
17,760 SF
Class
B
Property subtype
Office
Zoning
OC Zoning - City of Mesa
Occupancy
100%
Lease Type
NNN
Investment Type
Owner/User
Building Details
Year Built
1989
Stories
2
Tenancy
Single
Listing Agency:
The Menlo Group Commercial Real Estate LLC
Listed By:
Grafton Milne · License #AZ BR584594000
(480) 282-3089
Source:
Crexi
Added: Feb 5, 2024
Changed: Oct 7
Last Checked: Oct 20 at 6:40PM
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 The Menlo Group Commercial Real Estate LLC
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This is a freestanding office building situated on the north side of University Drive, one block west of Lindsay Road in Mesa, Arizona. The property is located in the established North Mesa area, characterized by high demographics and a strong population. The commercial building features monument signage, plentiful parking that includes covered spaces, and well-maintained landscaping. The location provides convenient access to Loop 202 and US 60, as well as various business, retail, and medical amenities. The property is suitable for a range of potential buyers.
Key Highlights
- Prime location in established North Mesa with high demographics and strong population numbers.
- Easy access to Loop 202 and US 60.
- Freestanding building with monument signage.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$304,319
Cap Rate
7.70%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$6,086,380
$6.1M
Cap Rate 7%
$4,347,414
$4.3M
Cap Rate 9%
$3,381,322
$3.4M
Market Conditions
NOI Build-Up for 17,760 SF
Gross rent
$513.6K $28.92/SF
− Vacancy
−$107.9K −$6.07/SF
EGI
$405.8K $22.85/SF
− OpEx
−$101.4K −$5.71/SF
NOI
$304.3K $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 Rate 5%
$6,086,380
Cap Rate 7%
$4,347,414
Cap Rate 9%
$3,381,322
Alternative Uses
Best Use
Office B
$4.35M
$3.80M – $5.07M
NOI $304,319 @ 7.0% cap · market cap 7.70%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.87M
$4.26M – $5.68M
NOI $340,770 @ 7.0% cap · market cap 8.63%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
486
Businesses Nearby
Explore this area
Business Placement
Demographics for 85213, AZ
36,572
Population
15,468
Households
2.4
Avg Household Size
39
Median Age
39%
College-Educated
96%
High-School Grad
9.2 sq mi
ZIP Area
3,975
Density / Sq Mi
$100,671
Median Household Income
$49,759
Median Earnings
$1,640
Median Rent
$407,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in West region
Frequently Asked Questions
What type of property is this?
Office building - Freestanding office building with plentiful parking and monument signage.
Where is this office building located?
The property is located at 2610 E University Dr Mesa, AZ.
What is the asking price?
The asking price for this property is $3,950,000.
What are key features of this property?
This property features: Prime location in established North Mesa with high demographics and strong population numbers.; Easy access to Loop 202 and US 60.; Freestanding building with **monument signage**.
