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1818 E Baseline Rd

9,100 SF 79% Leased Office Building Mesa, AZ 85204 $2,352,746 ($259/SF) 6.39% Cap Rate

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Executive Summary

Great income producing property with a CAP Rate of 6.39% and a potential of 7.5% once the basement office is leased out. The basement office lends for affordability, privacy, and a unique work environment of 1,900 sq.ft. available at $14/sq.ft This property offers an excellent location, just west of Gilbert Road, near the US-60 freeway, making it easily accessible. It is ideal for a medical practice or other professional services due to its established use and proximity to the Mesa and Gilbert communities. The Pediatric Tenant has 4 years left of a 5-year lease and the Dermatology Tenant has 3 years left of a 5-year lease. Working on leasing out the basement office. Pediatric Office 2,400 sq.ft., Pinnacle Dermatology Office 4,800 sq.ft.

For Sale Offering Memorandum

Property Facts

Sale Type

Investment

Property Type

Office

Property Subtype

Medical

Building Size

9,100 SF

Building Class

Year Built

1996

Price

$2,352,746

Price Per SF

$259

Cap Rate

6.39%

NOI

$150,340

Percent Leased

79%

Tenancy

Multiple

Building Height

2 Stories

Typical Floor Size

4,300 SF

Building FAR

0.17

Lot Size

1.24 AC

Zoning

C-N - Neighborhood commercial medical

Parking

28 Spaces (6.51 Spaces per 1,000 SF Leased)

Amenities

24 Hour Access
Fenced Lot
Signage

Basement
Central Heating
Natural Light

Plug & Play
Reception
Recessed Lighting

Drop Ceiling
Wi-Fi
Air Conditioning

Space Availability

Basement
1,900 SF
Office
Full Build-Out
Now

Creative workspace opportunity. The office space is located in the basement of the building which lends for affordability, privacy, and a unique work environment of 1,900 sq.ft. available at $14/sq.ft This property offers an excellent location, just west of Gilbert Road, near the US-60 freeway, making it easily accessible.