Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1128 Greenway St Mesa, AZ 85203-4361

    • Office buildings
    • 6,168 SF
    • 0.35 lot acres
    OFF-MARKET
    Last Sale
    Jan 03, 2025
    $950,000
    Value Estimations
    $990,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US07-3292454
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Clinic / High School
    • KS Appraisal / Real Estate Agency
    • Adaptive Health Billing Services / Accounting Firm / Tax Preparation

    Property Details for 1128 Greenway St

    Year built
    1986
    Construction
    CONCRETE
    Lot size
    0.35 lot acres
    Property size
    6,168 SF
    Zone code
    OC
    Property type
    Office buildings
    APN
    136-26-820
    APU
    13626820

    Description

    This exceptional 7,168 square foot office building, located at 1128 E Greenway St in Mesa, Arizona (zip code 85203), presents a unique opportunity. Situated in the Stapley Professional Plaza, near the intersection of E Brown Rd and N Stapley Dr, this three-story building boasts a desirable location with easy access to the Loop 202 Freeway. The property features two suites totaling 7,168 square feet, currently vacant and available for immediate occupancy. Built in 1986 and well-maintained, the building offers flexibility for tenant improvements. The property sits on a 15,120 square foot lot and is zoned OC. The building is part of a professional plaza anchored by Desert Schools Federal Credit Union and includes a mix of law firms, mortgage, and healthcare offices. The location benefits from its proximity to major retail centers and valley hospitals. The surrounding Hohokam Village neighborhood is characterized by a high concentration of upper-middle-income residents, with a significant portion employed in executive, management, and professional occupations. Building amenities include covered parking and signage opportunities. The property's Maricopa County location (APN 136-26-820) offers a strong foundation for any business seeking a prestigious and convenient office space. The building's multiple suite configuration allows for flexibility in tenant needs, accommodating various business sizes and requirements. This is an ideal opportunity for businesses seeking a well-established and highly accessible location in a thriving Mesa neighborhood.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,033,000
      Market price range: $695k - $1.76M
      AI Estimate
      $1,033,000
      Market price range: $695k - $1.76M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $1,135,000
      Current use
      RETAIL STORES
      $1,615,000
      Change: +42% Conversion: Moderate
      MEDICAL BUILDING
      $1,615,000
      Change: +42% Conversion: Easy
      WAREHOUSE, STORAGE
      $1,045,000
      Change: -8% Conversion: Difficult

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Mesa
    County
    Maricopa
    State
    Arizona
    Longitude
    -111.806
    Latitude
    33.4383
    CBSA code
    38060
    CBSA name
    PHOENIX-MESA-SCOTTSDALE, AZ METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2022
    $7,778
    $0.00
    $0.00
    $120,318
    -
    $119,700
    $609,500
    $729,200

    Comparable in this City

    • Value Estimation
      $660,000
      5,855 SF

      840 Mckellips Rd Ste, Unit 104

      OFFICE BUILDING • 5,855 SF
      840 Mckellips Rd Ste, Mesa, AZ 85203-9654
      View Details
    • Value Estimation
      $595,000
      4,224 SF

      535 Mckellips Rd Ste, Unit 105

      OFFICE BUILDING • 4,224 SF
      535 Mckellips Rd Ste, Mesa, AZ 85203-2525
      View Details
    • Value Estimation
      $660,000
      5,860 SF

      840 Mckellips Rd Ste, Unit 109

      OFFICE BUILDING • 5,860 SF
      840 Mckellips Rd Ste, Mesa, AZ 85203-9654
      View Details
    • Value Estimation
      $1,185,000
      9,762 SF

      325 Stapley Dr

      OFFICE BUILDING • 9,762 SF
      325 Stapley Dr, Mesa, AZ 85203-8030
      View Details
    • Value Estimation
      $1,405,000
      10,836 SF

      1345 Main St

      OFFICE BUILDING • 10,836 SF
      1345 Main St, Mesa, AZ 85203-8947
      View Details
    • Value Estimation by Request
      2,006 SF

      1550 University Dr Ste L1

      OFFICE BUILDING • 2,006 SF
      1550 University Dr Ste L1, Mesa, AZ 85203-8158
      View Details

    Similar Nearby for Sale

    • $7,995,000
      57,839 SF

      Mesa Redevelopment Opportunity

      Prime Mesa location, multi-use potential.
      1902 Main St, Mesa, AZ 85203
      View Details
    • Contact for pricing

      Mesa Investment Opportunity For Sale

      NNN leased investment property in booming Phoenix metro area.
      840 E Mckellips Rd, Mesa, AZ 85203
      View Details
    • $963,600
      3,504 SF

      Mesa Executive Office Condo

      Prime office space, owner-user opportunity.
      535 Mckellips Rd, Mesa, AZ 85203
      View Details
    • $930,000
      3,504 SF

      Mesa Office Condo For Sale

      Office condo located off North 202 in Mesa, Arizona.
      535 E Mckellips Rd, Mesa, AZ 85203
      View Details
    • Contact for pricing
      6,199 SF

      Garden Style Office Complex

      Garden style office complex with suites available near Downtown Mesa.
      761 E University Dr, Mesa, AZ 85203
      View Details
    • $1,100,000

      Approved Townhome Development Opportunity

      Land with approved plans for a 27-unit townhome development.
      601 W University Dr, Mesa, AZ 85203
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      1,000 SF

      Mesa Office Space For Rent

      Street frontage office space available for rent in Mesa, Arizona.
      6065 E University Dr, Mesa, AZ 85203
      View Details
    • $10 SF/Yr
      2,519 SF

      Mesa Office Space Available

      Office space with frontage on University Drive, available January 2026.
      1134 E University Dr, Mesa, AZ 85203
      View Details
    • $16 SF/Yr
      1,300 SF

      Mesa Office/Medical Space For Lease

      Office/Medical space available for lease in Mesa, Arizona.
      1010 E University Dr, Mesa, AZ 85203
      View Details
    • Contact for pricing
      4,882 SF

      Mesa Executive Office Suite

      Prime Mesa office space available.
      1901 University Dr, Mesa, AZ 85203
      View Details
    • $16 SF/Yr
      1,300 SF

      Mesa Office Space For Rent

      Office space for rent with frontage on University Drive.
      1010 E University Dr, Mesa, AZ 85203
      View Details
    • $859 /Mo
      546 SF

      Professional Office Space For Rent

      Office space in high-visibility area, close to freeways.
      925 N Stapley Dr, Mesa, AZ 85203
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1128 Greenway St
    Mesa, AZ 85203-4361
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.