1114 Higley RdMesa, AZ 85206

Property Details for 1114 Higley Rd

Year built

2007

Construction

STEEL FRAME

Lot size

1.06 AC

Property size (Sq ft)

16,013 SF

Zone code

LC

Property type

Healthcare properties

Property subtype

Medical offices

APN

140-53-567

APU

14053567

Description

This exceptional investment opportunity presents a 15,686 square foot Class A medical office building located at 1114 S Higley Rd, Mesa, AZ 85206. The property, built in 2007 and renovated in 2023, sits on a 1.76-acre lot and offers ample parking (4.85 spaces per 1,000 sq ft). Currently 100% occupied by American Vision Partners under a single-tenant, net lease agreement with a corporate guarantee, providing significant financial stability. The lease structure is NNN (Net, Net, Net), minimizing landlord responsibilities. The property boasts a strong financial performance, with a Net Operating Income (NOI) of $484,697 and a 6.50% cap rate. The asking price is $7,500,000, translating to a price per square foot of $478.13. The property is zoned C-2 and features a contemporary design, advanced diagnostic equipment, and spacious patient areas. Its strategic location offers high visibility and easy access from a major US highway, ensuring strong patient access. This is a rare opportunity to acquire a high-quality, single-tenant net-leased medical office building with a blue-chip tenant and a long-term lease extending into late 2033. The property's strong financials, prime location, and exceptional tenant make it an ideal addition to any investment portfolio. Parcel numbers are 140-53-567 and 140-53-568.

• CAP approach

  CAP return

  Valuation

  6%

  $5,076,312

  6.5%

  $4,685,827

  7%

  $4,351,125

• Comparable approach

  Method

  Valuation

  Relative Method

  $3,612,212

  Geo Method

  $3,612,212

• Alternative Use

  Use

  Valuation

  Residential

  $5,810,426

  Hospitality

  $5,322,318

  Educational

  $4,428,106

  Medical

  $4,580,396

  Retail

  $6,888,166

Location Insight

City

Mesa

County

Maricopa

State

Arizona

Latitude

33.395

Longitude

-111.72

CBSA code

38060

CBSA name

PHOENIX-MESA-SCOTTSDALE, AZ METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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