1550 University DrMesa, AZ 85203

Property Details for 1550 University Dr

Year built

1976

Construction

CONCRETE

Lot size

1.56 AC

Property size (Sq ft)

1,767 SF

Zone code

LC

Property type

Office properties

Property subtype

Office buildings

APN

137-39-080A

APU

13739080A

Description

This exceptional 1,210 square foot office condo, part of the University East complex at 1550 E University Dr, Suite F2, Mesa, AZ 85203, presents a unique opportunity. Situated in a desirable Northeast Mesa location, this single-tenant space boasts a blend of modern updates and mid-century charm. Built in 1976 and extensively renovated in 2021, the property offers a functional layout within a one-story building totaling 1,767 square feet. The space features ceiling heights ranging from 8.1 to 10 feet, providing a spacious feel. The property's zoning is General Commercial, and the APN is 137-39-080-A. Conveniently located near the intersection of Stapley and University, it benefits from excellent access to the University Corridor and the revitalized Downtown Mesa area. Utilities are serviced by SRP. Parking is available (number of spaces unspecified). Property taxes are $1.05 per square foot. The property is categorized as Traditional Office, Executive Office, Medical Office, and Creative Office, making it suitable for a variety of businesses. This is an ideal location for businesses seeking a well-maintained, updated office space in a thriving area.

• CAP approach

  CAP return

  Valuation

  6%

  $560,160

  6.5%

  $517,071

  7%

  $480,137

• Comparable approach

  Method

  Valuation

  Relative Method

  $398,600

  Geo Method

  $398,600

• Alternative Use

  Use

  Valuation

  Residential

  $641,168

  Hospitality

  $587,306

  Educational

  $488,632

  Medical

  $505,437

  Retail

  $760,094

Location Insight

City

Mesa

County

Maricopa

State

Arizona

Latitude

33.4228

Longitude

-111.797

CBSA code

38060

CBSA name

PHOENIX-MESA-SCOTTSDALE, AZ METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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