2260 Brown RdMesa, AZ 85213

Property Details for 2260 Brown Rd

Year built

1974

Construction

CONCRETE

Lot size

0.81 AC

Property size (Sq ft)

7,325 SF

Zone code

OC

Property type

Office properties

Property subtype

Office buildings

APN

141-11-090

APU

14111090

Description

This exceptional 27-bed assisted living facility in Mesa, Arizona, presents a compelling investment opportunity. The single-story, 7,326 square foot building, completely renovated in 2021, boasts a modern design with block construction and fire suppression sprinklers. Situated on a 0.81-acre lot at 2260 E Brown Rd, the property enjoys excellent visibility and convenient access. The facility is fully ADA accessible, catering to residents with mobility limitations, and includes 19 on-site parking spaces. Currently operating at a 66% occupancy rate (19 of 27 beds), the center provides comprehensive services including 24-hour care, home-cooked meals, and a variety of daily activities. The property is zoned OC, City of Mesa, and features a strong NOI of $225,741, resulting in a 6.27% cap rate. Offered at $3,599,000 ($491.26/sq ft), this is a rare chance to acquire a well-established and profitable senior living center in a prime location. Built in 1974, the recent renovations ensure a comfortable and secure environment for residents. The property's strong financial performance and prime location make it an attractive investment for discerning buyers.

• CAP approach

  CAP return

  Valuation

  6%

  $2,322,112

  6.5%

  $2,143,488

  7%

  $1,990,382

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,652,374

  Geo Method

  $1,652,374

• Alternative Use

  Use

  Valuation

  Residential

  $2,657,926

  Hospitality

  $2,434,646

  Educational

  $2,025,597

  Medical

  $2,095,260

  Retail

  $3,150,928

Location Insight

City

Mesa

County

Maricopa

State

Arizona

Latitude

33.4376

Longitude

-111.782

CBSA code

38060

CBSA name

PHOENIX-MESA-SCOTTSDALE, AZ METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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