2919 Ellsworth Rd Mesa, AZ 85212-2164

Property Details for 2919 Ellsworth Rd

Lot size

5.65 lot acres

Zone code

LC

Property type

Office Properties & Spaces

APN

304-02-806

APU

30402806

Description

This exceptional Class A medical office building, located at 2919 S Ellsworth Rd, Suites 126 & 128, Mesa, AZ 85212, presents a compelling investment opportunity. The 5,112 square foot property boasts a 100% occupancy rate with a single tenant, Canyon Rim Dental, under a NNN lease with six years remaining and a 3% annual rent increase. The current Net Operating Income (NOI) is $81,816, representing a 5.50% cap rate on the $1,500,000 asking price. Built in 2005, this property features a 3,029 square foot fully built-out dental office space including a reception area, waiting area, two executive offices, eight operatories, a workroom, kitchen/break room, and three restrooms. Convenient covered parking, building signage, and monument signage are included. The property is situated in the Augusta Ranch Professional Village, benefiting from a strong medical and professional tenant mix. Its prime location offers easy access to major transportation arteries, including Loop 202 and US-60, and is in close proximity to four area hospitals (Mountain Vista, Banner Baywood, Banner Gateway, and Mercy Gilbert), the Phoenix-Mesa Gateway Airport, and the ASU Polytechnic Campus. The property is zoned C-2 and its APN is 304-02-799. This investment is further enhanced by its adjacency to the rapidly expanding Eastmark development. The lease includes a personal guarantee and a five-year option with a 3% annual rent increase.