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Property profile & analytics
FOR LEASE
Medical Office Space
1220 S Higley Rd Mesa, AZ 85206
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US07-0951746
For Lease
1 / 17
$5,675,000
1220 S Higley Rd, Mesa, AZ 85206
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Property summary
AI-generated overview
This exceptional two-story medical office building, totaling 18,928 square feet, presents a prime leasing opportunity in Mesa, Arizona's Superstition Corridor submarket. Located at 1220 S Higley Rd, this Class B property, built in 2007, offers 4,202 square feet of immediately available space, with a maximum contiguous space of 4,202 square feet. The building features 110 parking spaces and convenient elevator access. Its strategic location less than half a mile north of US-60 and one mile from Banner Gateway Medical Center ensures high visibility and accessibility for both patients and staff. Boasting a prominent Higley Road frontage with over 37,058 vehicles passing daily, this property benefits from significant traffic exposure. The building sits on two acres of land and is zoned C-C. Attractive tenant improvement (TI) allowances are available, allowing for customization to suit diverse medical and professional needs. The proximity to Banner Baywood and Banner Gateway Medical Centers, coupled with easy access to retail amenities, makes this a highly desirable location. This is a single building, two-story structure in Maricopa County, Arizona, with the APN 140-54-005U and zip code 85206.
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
2007
Construction
STEEL FRAME
Total area
18,017 SF
Lot
2.01 ac (87,443 SF)
Zoning code
LC
APN
140-54-005U
UPID
US07-0951746
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Sun Valley Pediatric Dentistry - Mesa Dental Office
-
Banner Children's - Banner Health Clinic Medical Clinic
-
East Valley Pediatrics Pediatrician Medical Clinic
-
Alicia Martinez, MD: Pediatrics Pediatrician Medical Clinic
-
Kelly England, MD: Pediatrics Pediatrician Medical Clinic
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$6.18M
Blend (final)
Blend
$5.68M
Owner & transaction history
Wsh Az Mesa LLC · 3 yrs held
Wsh Az Mesa LLC
since 2023
Last sale
$4.9M
5 recorded transactions
Zoning & alternative use
LC · Mesa, AZ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$7.9M
+86.2%
Neighborhood: shopping center
$5.6M
+31.6%
Retail stores
$4.7M
+10.8%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Mesa submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Mesa submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$6,160,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
MEDICAL BUILDING
$4,265,000
Current use
AUTO REPAIR, GARAGE
$7,940,000
Change: +86% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$5,610,000
Change: +32% · Conversion: Difficult
RETAIL STORES
$4,720,000
Change: +11% · Conversion: Difficult
Blend value · Realmo final
$5.68M
Range $5.11M – $6.24M · ±10% · vs last sale $4.93M (May 17 2023)
Last sale anchor
$4.93M
May 17 2023
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$315 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$53,794
Tax year 2023
Assessed value
$781,237
Assessed 2024
Previous assessed
$694,110
+12.6% YoY
Effective rate
6.89%
On assessed value
Land market value
$764,900
Improvement market value
$3,969,873
Total market value
$4,734,773
Applied tax rate
41,003.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Status
For Lease
Year built
2007
Construction
STEEL FRAME
Heating
PACKAGE
Cooling
YES
Stories
2
Total area
18,017 SF
Lot
2.01 ac (87,443 SF)
Zoning code
LC
APN
140-54-005U
UPID
US07-0951746
Jurisdiction
MARICOPA
Zoning & alternative use
LC · Mesa, AZ
Zoning LC · permitted uses
LC · Mesa, AZ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Mesa. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
MEDICAL BUILDING Current
Est. value
$4.3M
AUTO REPAIR, GARAGE
Est. value
$7.9M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$5.6M
RETAIL STORES
Est. value
$4.7M
MEDICAL BUILDING Current
AUTO REPAIR, GARAGE
NEIGHBORHOOD: SHOPPING CENTER
RETAIL STORES
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
2007
Construction
STEEL FRAME
Heating
PACKAGE
Cooling
Yes
Stories
2
Lot
2.01 ac
Current owner
From public records · entity-resolved
Wsh Az Mesa LLC
Entity
Mailing address
2 SMT PARK DR STE #540, CLEVELAND, OH 44131-2590
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 17, 2023
$4,925,000
Wsh Az Mesa LLC
Campus Professional Plaza LLC
Special Warranty Deed
$3,452,000 · Village Bank & Trust
May 10, 2013
$5,940,000
Campus Professional Plaza LLC
Higley Medical Properties LLC
Special Warranty Deed
$3,300,000 · Wells Fargo Bank NA
Mar 14, 2007
—
Higley Medical Properties LLC
—
Trustees Deed
related
$3,672,000 · Wells Fargo Bank
Aug 16, 2006
—
Higley Medical Properties
Owner Name Unavailable
Grant Deed
related
—
—
—
Higley Medical Properties LLC
—
Deed Of Trust
related
$3,115,000 · National Bank Arizona
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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