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    1818 East Southern Ave Mesa, AZ 85204
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    1818 East Southern Ave Mesa, AZ 85204

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    • Office buildings
    • 10,508 SF
    • 1.49 lot acres
    For Lease
    $14 SF/Yr
    View Listing →
    Mesa Multi-Tenant Office Building For Lease
    $14 SF/Yr
    5,609 SF

    Mesa Multi-Tenant Office Building

    Professionally managed office building with covered parking and monument signage.

    1818 East Southern Avenue, Mesa, AZ 85204
    View Listing
    Property ID
    US07-1513148
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Optogy Technology Services / IT Consulting Firm / (Bike/Boat/Book/etc) Store
    • Internal Revenue Service (IRS) Taxpayer Assistance Center / Tax Preparation / Social Service Agency
    • Tax Solutions / Tax Preparation
    • Ara Plans / Insurance Agency
    • Starwest Mortgage Corporation / Loan Service / Bank

    Property Details for 1818 East Southern Ave

    Year built
    1986
    Construction
    CONCRETE
    Lot size
    1.49 lot acres
    Property size
    10,508 SF
    Zone code
    OC
    Property type
    Office buildings
    APN
    139-06-287
    APU
    13906287

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $3,418,000
      Market price range: $1.52M - $3.42M
      AI Estimate
      $3,418,000
      Market price range: $1.52M - $3.42M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $2,285,000
      Current use
      AUTO REPAIR, GARAGE
      $4,630,000
      Change: +102% Conversion: Difficult
      NEIGHBORHOOD: SHOPPING CENTER
      $3,275,000
      Change: +43% Conversion: Difficult
      RETAIL STORES
      $2,755,000
      Change: +20% Conversion: Moderate
      MEDICAL BUILDING
      $2,750,000
      Change: +20% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Mesa
    County
    Maricopa
    State
    Arizona
    Longitude
    -111.792
    Latitude
    33.394
    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
    $24,350
    $0.00
    $0.00
    $463,782
    -
    $468,600
    $2,342,200
    $2,810,800

    Comparable in this City

    • Value Estimation
      $660,000
      3,608 SF

      3048 Baseline Rd Ste, Unit 108

      OFFICE BUILDING • 3,608 SF
      3048 Baseline Rd Ste, Mesa, AZ 85204-7287
      View Details
    • Value Estimation
      $7,705,000
      53,148 SF

      1955 Val Vis Dr Ste, Unit 111

      OFFICE BUILDING • 53,148 SF
      1955 Val Vis Dr Ste, Mesa, AZ 85204-7371
      View Details
    • Value Estimation
      $7,705,000
      53,148 SF

      1955 Val Vis Dr Ste, Unit 114

      OFFICE BUILDING • 53,148 SF
      1955 Val Vis Dr Ste, Mesa, AZ 85204-7372
      View Details
    • Value Estimation by Request
      1,435 SF

      105 Stapley Dr

      OFFICE BUILDING • 1,435 SF
      105 Stapley Dr, Mesa, AZ 85204-1126
      View Details
    • Value Estimation
      $7,705,000
      53,148 SF

      1955 Val Vis Dr Ste, Unit 119

      OFFICE BUILDING • 53,148 SF
      1955 Val Vis Dr Ste, Mesa, AZ 85204-7372
      View Details
    • Value Estimation
      $910,000
      5,016 SF

      3048 Baseline Rd Ste, Unit 120

      OFFICE BUILDING • 5,016 SF
      3048 Baseline Rd Ste, Mesa, AZ 85204-7288
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      9,101 SF

      Income Property Near Gilbert

      Income-producing property with potential for increased cap rate.
      1818 E Baseline Rd, Mesa, AZ 85204
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    • $2,400,000
      7,500 SF

      Mesa Multifamily Investment Opportunity

      Well-maintained 16-unit apartment complex near Downtown Mesa.
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      8,400 SF

      Mesa Childcare Facility For Sale

      Move-in ready childcare facility on Stapley Drive in Mesa.
      1236 S Stapley Dr, Mesa, AZ 85204
      View Details
    • $1,947,500

      Mesa NNN Leased Investment Opportunity

      NNN leased investment opportunity in Central Mesa, Arizona.
      1559 S Gilbert Rd, Mesa, AZ 85204
      View Details
    • $1,600,000

      Commercial Land For Sale

      Commercial land available for ground lease or build-to-suit.
      2252 E Baseline Rd, Mesa, AZ 85204
      View Details
    • Contact for pricing

      Mesa Retail Power Center

      Dominant power center location in Mesa, Arizona.
      1955 S Stapley Dr, Mesa, AZ 85204
      View Details

    Similar Nearby for Lease

    • $14 SF/Yr
      5,609 SF

      Mesa Multi-Tenant Office Building

      Professionally managed office building with covered parking and monument signage.
      1818 East Southern Ave, Mesa, AZ 85204
      View Details
    • Contact for pricing

      Premier Mesa Medical Office Space

      Class A medical office space in Mesa, Arizona for lease.
      1840-1910 S Stapley Dr, Mesa, AZ 85204
      View Details
    • $24 SF/Yr
      5,197 SF

      Mesa Office Space For Rent

      Office space for rent near Mesa Grand Power Center.
      1630 S Stapley Dr, Mesa, AZ 85204
      View Details
    • Contact for pricing
      8,661 SF

      Class A Medical Center Space

      Medical office space available for lease in Mesa, Arizona.
      1840 S Stapley Dr, Mesa, AZ 85204
      View Details
    • Contact for pricing

      Mesa Office Space with Yard

      Office space with a large gated yard for rent.
      860-864 W Southern Ave, Mesa, AZ 85204
      View Details
    • Contact for pricing
      690 SF

      Mesa Office Space For Rent

      Second floor office space in prime Mesa location.
      1755 S Val Vista Dr, Mesa, AZ 85204
      View Details
    View Listing
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    1818 East Southern Ave
    Mesa, AZ 85204
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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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