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Property profile & analytics
FOR LEASE
Medical Office Space
2204 South Dobson Rd, Mesa, AZ 85202
Entity Owned
8-yr Hold
~
Est. High Equity
Property ID
US07-0086996
For Lease
1 / 4
$18 SF/Yr
2204 South Dobson Rd, Mesa, AZ 85202
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Property summary
AI-generated overview
This exceptional two-story, 16,560 square foot medical office building in Mesa, Arizona, presents a unique leasing opportunity. Situated at 2204 S Dobson Rd, in the desirable Dobson Ranch neighborhood, this Class B property enjoys high visibility on Dobson Road, with over 32,382 vehicles passing daily. Built in 1984 and renovated in 2003, the building offers a contemporary environment for medical practices. The property features 104 parking spaces and sits on 1.22 acres of land, zoned C-2, Mesa. Currently, there is 4,660 square feet of vacant space available, with contiguous spaces ranging from 3,046 to 7,786 square feet. The building's location offers convenient access to Banner Desert Medical Center, US 60, and Loop 101, ensuring easy access for both patients and staff. This multi-tenant building provides a well-maintained and updated space ideal for various healthcare services. The property's location within the affluent Dobson Ranch neighborhood guarantees a strong patient base. Maricopa County APN: 305-10-136.
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1985
Construction
CONCRETE
Total area
4,710 SF
Lot
1.28 ac (55,888 SF)
Zoning code
LC
APN
305-10-136
UPID
US07-0086996
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
-
Dobson Medical Center Medical Clinic
-
Red Mountain Cardiothoracic Surgeons, P.C. Hospital
-
Yayi's dentist Dental Office
-
Denova Collaborative Health, Dobson Ranch Medical Clinic
-
Sonoran Pediatric Endocrinology & Diabetes Institute Medical Clinic
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.82M
Blend (final)
Blend
$1.83M
Owner & transaction history
Azca Investments INC · 8 yrs held
Azca Investments INC
since 2018
6 recorded transactions
Zoning & alternative use
LC · Mesa, AZ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$3.0M
+145.0%
Auto repair, garage
$2.1M
+68.2%
Retail stores
$1.2M
+0.1%
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
$1,235,000
Current use
COMMERCIAL (GENERAL)
$3,020,000
Change: +145% · Conversion: Easy
AUTO REPAIR, GARAGE
$2,075,000
Change: +68% · Conversion: Difficult
RETAIL STORES
$1,235,000
Change: +0% · Conversion: Difficult
Blend value · Realmo final
$1.83M
Range $1.64M – $2.01M · ±10%
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
$387 / 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
$24,856
Tax year 2023
Assessed value
$476,192
Assessed 2024
Previous assessed
$433,891
+9.7% YoY
Effective rate
5.22%
On assessed value
Land market value
$902,800
Improvement market value
$1,983,214
Total market value
$2,886,014
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
For Lease
Year built
1985
Construction
CONCRETE
Heating
PACKAGE
Cooling
YES
Buildings
2
Stories
1
Units
2
Total area
4,710 SF
Lot
1.28 ac (55,888 SF)
Zoning code
LC
APN
305-10-136
UPID
US07-0086996
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
$1.2M
COMMERCIAL (GENERAL)
Est. value
$3.0M
AUTO REPAIR, GARAGE
Est. value
$2.1M
RETAIL STORES
Est. value
$1.2M
MEDICAL BUILDING Current
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
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
1985
Construction
CONCRETE
Heating
PACKAGE
Cooling
Yes
Stories
1
Buildings
2
Units
2
Lot
1.28 ac
Current owner
From public records · entity-resolved
Azca Investments INC
Entity
Mailing address
17217 W MAHOGANY WAY, SURPRISE, AZ 85387-7298
Ownership since
2018
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 19, 2018
$2,950,000
Azca Investments INC
Terradyne LLC
Special Warranty Deed
$1,500,000 · Desert Schools FCU
May 13, 2013
$825,000
Terradyne LLC
Csfbm Series 2006-c2
Grant Deed
—
Feb 6, 2013
$1,400,000
Us Bank NA Series 2006-c2
Ghidotti Michelle
Trustees Deed
related
—
Dec 19, 2005
$3,850,000
Dobson Plaza LLC
Amundson Ents INC
Grant Deed
$2,830,000 · Column Financial INC
Feb 1, 1988
$3,160,000
Amundson Enterpr
Fh La
Grant Deed
—
—
—
Amundson Ents INC
—
Deed Of Trust
related
$1,800,000 · Affinity Bank
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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