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Property profile & analytics
OFF-MARKET
Estimated value
$2,325,000
Medical Office Space
2111 University Dr Mesa, AZ 85201-5205
Entity Owned
1-yr Hold
~
Est. High Equity
Property ID
US07-0160695
Property summary
AI-generated overview
This single-story, 7,553-square-foot medical office building in Mesa, Arizona, presents a unique owner-user or investment opportunity. Located at 2111 W University Dr, 85201, in Maricopa County, this Class B property sits on a spacious 53,709-square-foot lot. Completely vacant, the building offers immediate occupancy starting December 1st, 2024. Renovated in 2014, the property features a fully built-out interior, ideal for a variety of medical practices. The asking price is $2,454,725, translating to $325 per square foot. Building and monument signage are included. The property is a single-tenant building with a private ownership structure and is not subject to a ground lease. The APN is 135-46-117Q. While currently vacant, this property offers significant potential for a medical professional seeking a move-in ready space or an investor looking for a strong return. Detailed floor plans are available upon request. This is a rare opportunity to acquire a well-maintained, free-standing medical building in a desirable Mesa location.
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1973
Construction
CONCRETE
Total area
7,839 SF
Lot
1.23 ac (53,709 SF)
Zoning code
LC
APN
135-46-117Q
UPID
US07-0160695
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
-
Steven D. Bastian Physician Medical Clinic
-
DR lloyd champagne Physician
-
Michael Larsen Physician Medical Clinic
-
Joshua Mirrer Physician Medical Clinic
-
Jonathan Yang Physician Medical Clinic
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.54M
Blend (final)
Blend
$2.33M
Owner & transaction history
2111 W University Dr LLC · 1 yrs held
2111 W University Dr LLC
since 2025
Last sale
$2.1M
5 recorded transactions
Zoning & alternative use
LC · Mesa, AZ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$3.5M
+68.2%
Neighborhood: shopping center
$2.4M
+18.9%
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
by Request
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
$2,055,000
Current use
AUTO REPAIR, GARAGE
$3,455,000
Change: +68% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$2,440,000
Change: +19% · Conversion: Difficult
OFFICE BUILDING
$1,740,000
Change: -15% · Conversion: Easy
Blend value · Realmo final
$2.33M
Range $2.09M – $2.56M · ±10% · vs last sale $2.11M (Nov 14 2024)
Last sale anchor
$2.11M
Nov 14 2024
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
$297 / 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
$12,533
Tax year 2023
Assessed value
$315,242
Assessed 2024
Previous assessed
$281,333
+12.1% YoY
Effective rate
3.98%
On assessed value
Land market value
$790,200
Improvement market value
$1,120,355
Total market value
$1,910,555
Applied tax rate
41,000.0000
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
Off-Market
Year built
1973
Construction
CONCRETE
Heating
PACKAGE
Cooling
YES
Stories
1
Total area
7,839 SF
Lot
1.23 ac (53,709 SF)
Zoning code
LC
APN
135-46-117Q
UPID
US07-0160695
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
$2.1M
AUTO REPAIR, GARAGE
Est. value
$3.5M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$2.4M
OFFICE BUILDING
Est. value
$1.7M
MEDICAL BUILDING Current
AUTO REPAIR, GARAGE
NEIGHBORHOOD: SHOPPING CENTER
OFFICE BUILDING
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
1973
Construction
CONCRETE
Heating
PACKAGE
Cooling
Yes
Stories
1
Lot
1.23 ac
Current owner
From public records · entity-resolved
2111 W University Dr LLC
Entity
Mailing address
PO BOX 462708, ESCONDIDO, CA 92046-2708
Ownership since
2025
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
Feb 14, 2025
$2,114,840
2111 W University Dr LLC
Philip Dolese Schofield
Special Warranty Deed
$4,256,000 · Alerus Financial NA
Feb 28, 2019
$1,975,000
Schofield,philip D Trust
Evm Properties LLC
Grant Deed
—
Sep 13, 2012
$447,340
Evm Properties LLC
Wuni LLC
Warranty Deed
—
Jul 1, 2004
$680,000
Wuni LLC
Tibshraeny Companiesinc
Grant Deed
$847,500 · Wells Fargo Financial Bank
—
—
University & 52nd LLC
—
Deed Of Trust
related
$1,315,000 · Bank Of Oklahoma
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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