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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1355 Clearview Ave Mesa, AZ 85209-3334

    • Office buildings
    • 57,395 SF
    • 4.24 lot acres
    OFF-MARKET
    Last Sale
    Dec 07, 2024
    $10,400,000
    Value Estimations
    $12,100,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US07-0412826
    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

    • Arizona Department of Child Safety - Northeast Regional Office / State Government Office

    Property Details for 1355 Clearview Ave

    Year built
    1997
    Construction
    STEEL FRAME
    Lot size
    4.24 lot acres
    Property size
    57,395 SF
    Zone code
    LI
    Property type
    Office buildings
    APN
    218-56-565B
    APU
    21856565B

    Description

    This exceptional mixed-use property, located at 1355 S Clearview Ave, Mesa, AZ 85209, presents a compelling investment opportunity. The 58,390 square foot building, constructed in 1998, sits on a generous 5.14-acre lot at the northeast corner of South Clearview Avenue and East Hampton Avenue, offering convenient access to the US 60 Superstition Freeway (within a quarter-mile). Currently operating as a multi-tenant office/flex space, the property boasts a strong net operating income (NOI) of $741,464, translating to an attractive 6.45% capitalization rate. The asking price is $11,500,000. This presents a rare chance to acquire a well-situated, high-performing asset in a thriving Arizona market. The property's size and location make it ideal for a variety of uses and potential future development. Its strong financial performance and strategic location make it an attractive investment for both seasoned and emerging investors seeking a stable and appreciating asset in the dynamic Mesa commercial real estate market. The property's proximity to major transportation arteries ensures excellent accessibility for tenants and employees. This is a turnkey investment ready for immediate income generation and potential long-term appreciation.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $13,813,000
      Market price range: $4.98M - $16.4M
      AI Estimate
      $13,793,000
      Market price range: $4.79M - $16.4M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $9,885,000
      Current use
      NEIGHBORHOOD: SHOPPING CENTER
      $17,875,000
      Change: +81% Conversion: Difficult
      RETAIL STORES
      $15,045,000
      Change: +52% Conversion: Moderate
      MEDICAL BUILDING
      $15,030,000
      Change: +52% Conversion: Easy
      INDUSTRIAL (GENERAL)
      $9,425,000
      Change: -5% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Mesa
    County
    Maricopa
    State
    Arizona
    Longitude
    -111.677
    Latitude
    33.3905
    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
    2023
    $79,317
    $0.00
    $0.00
    $1,458,435
    -
    $1,762,500
    $7,076,500
    $8,839,000

    Comparable in this City

    • Value Estimation
      $1,080,000
      5,806 SF

      8419 Baseline Rd Ste, Unit 101

      OFFICE BUILDING • 5,806 SF
      8419 Baseline Rd Ste, Mesa, AZ 85209-4380
      View Details
    • Value Estimation
      $665,000
      7,127 SF

      2420 Power Rd Ste, Unit 103

      OFFICE BUILDING • 7,127 SF
      2420 Power Rd Ste, Mesa, AZ 85209-6693
      View Details
    • Value Estimation by Request
      4,443 SF

      7233 Baseline Rd Ste, Unit 112

      OFFICE BUILDING • 4,443 SF
      7233 Baseline Rd Ste, Mesa, AZ 85209-5007
      View Details
    • Value Estimation
      $615,000
      7,205 SF

      7227 Baseline Rd Ste, Unit 119

      OFFICE BUILDING • 7,205 SF
      7227 Baseline Rd Ste, Mesa, AZ 85209-5006
      View Details
    • Value Estimation
      $655,000
      3,584 SF

      2500 Power Rd Ste, Unit 119

      OFFICE BUILDING • 3,584 SF
      2500 Power Rd Ste, Mesa, AZ 85209-6688
      View Details
    • Value Estimation
      $825,000
      9,723 SF

      2707 Ellsworth Rd Bldg H

      OFFICE BUILDING • 9,723 SF
      2707 Ellsworth Rd Bldg H, Mesa, AZ 85209-1223
      View Details

    Similar Nearby for Sale

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      Mesa Office Building For Sale

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      Mesa Office Condo For Sale

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      1.03 Acres

      Mesa Retail Land Investment Opportunity

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      Mesa Commercial Land Opportunity

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      Mesa Land Parcel For Sale

      10 acre commercial land parcel with excellent visibility.
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      Prime Retail Pad Opportunity

      Land within Superstition Springs Mall trade area, high daytime population.
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    Similar Nearby for Lease

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      31,880 SF

      Mesa Industrial Space for Lease

      Modern multi-use space, flexible layouts.
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      Efficient Medical Office Space Available

      Medical office space for lease in Mesa, ready for occupancy.
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      View Details
    • $22 SF/Yr
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      Greyshell Office Space Available

      Greyshell office space for rent, build to suit.
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    • $30 SF/Yr
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      Medical Office Space For Lease

      Medical office space available for lease with Power Rd frontage.
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      1,050 SF

      Mesa Retail/Office Space Available

      Retail or office space with high visibility and easy access.
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    • Contact for pricing
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      East Valley Retail/Medical Space

      Retail or medical space in growing East Valley location.
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      View Details
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    1355 Clearview Ave
    Mesa, AZ 85209-3334
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    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
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