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    Property profile & analytics

    2204 South Dobson Rd Mesa, AZ 85202

    • Medical Office Space
    • 4,710 SF
    • 1.28 lot acres
    For Lease
    View listing
    $18 SF/Yr
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US07-0086996
    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

    • 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

    Property Details for 2204 South Dobson Rd

    Year built
    1985
    Construction
    CONCRETE
    Lot size
    1.28 lot acres
    Property size
    4,710 SF
    Zone code
    LC
    Property type
    Medical Office Space
    Property subtype
    Medical centers
    APN
    305-10-136
    APU
    30510136

    Description

    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.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,824,000
      Market price range: $664k - $1.82M
      AI Estimate
      $1,824,000
      Market price range: $664k - $1.82M

    • 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

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

    Location Insight

    • Map
    • Local Demand
    City
    Mesa
    County
    Maricopa
    State
    Arizona
    Longitude
    -111.88
    Latitude
    33.3753
    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
    $24,856
    $0.00
    $0.00
    $476,192
    -
    $902,800
    $1,983,214
    $2,886,014

    Comparable in this City

    • Value Estimation
      $6,140,000
      15,854 SF

      1400 Dobson Rd

      MEDICAL BUILDING • 15,854 SF
      1400 Dobson Rd, Mesa, AZ 85202-4707
      View Details
    • Value Estimation
      $37,145,000
      95,882 SF

      1432 Dobson Rd, Unit 217

      MEDICAL BUILDING • 95,882 SF
      1432 Dobson Rd, Mesa, AZ 85202-4768
      View Details
    • Value Estimation
      $14,805,000
      54,612 SF

      1500 Dobson Rd

      MEDICAL BUILDING • 54,612 SF
      1500 Dobson Rd, Mesa, AZ 85202-4713
      View Details
    • Value Estimation
      $620,000
      4,396 SF

      2058 Dobson Rd Ste, Unit 6

      MEDICAL BUILDING • 4,396 SF
      2058 Dobson Rd Ste, Mesa, AZ 85202-6455
      View Details
    • Value Estimation
      $1,260,000
      8,948 SF

      2058 Dobson Rd Ste, Unit 15

      MEDICAL BUILDING • 8,948 SF
      2058 Dobson Rd Ste, Mesa, AZ 85202-6455
      View Details
    • Value Estimation
      $12,385,000
      43,592 SF

      1400 Dobson Rd

      MEDICAL BUILDING • 43,592 SF
      1400 Dobson Rd, Mesa, AZ 85202-4707
      View Details

    Similar Nearby for Sale

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      Mesa Office Building Investment Opportunity

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    Similar Nearby for Lease

    • $18 SF/Yr
      3,126 SF

      Garden-Style Medical Office Space

      Medical office building with lake views, near Banner Desert.
      2204 South Dobson Rd, Mesa, AZ 85202
      View Details
    • $16 SF/Yr
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      Mesa Medical Office Building For Lease

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      View Details
    • Contact for pricing
      38,552 SF

      Mesa Medical Office Campus

      Class A Suites, 19 Spaces Available
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      View Details
    • Contact for pricing
      148,698 SF

      Desert Medical Campus Office Space

      Mesa, AZ Medical Office Suites Available
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      View Details
    • Contact for pricing
      313,671 SF

      Mesa Medical Office Space for Lease

      Prime Medical Office Suites Available in Mesa, AZ
      1432 Dobson Rd, Mesa, AZ 85202
      View Details
    • $19 SF/Yr
      7,777 SF

      Mesa Executive Suites: Prime Location

      Modern offices, convenient amenities, ideal location.
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      View Details
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    Mesa, AZ 85202
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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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