This Office Property is Off-Market.

1818 E. Southern Avenue
Mesa, AZ 85204 ·

37,910 SF · Office For Sale

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The Mesa IRS Building

Price N/A Cap Rate 9%
Building Size 37,910 SF Occupancy 100%
Property Type Office Tenancy Multiple
Property Sub-type Institutional/Governmental Year Built 1985
Property Use Type Investment Lot Size 2.68 AC
Listing ID: 16491123 Date Created: 12/02/2009 Last Updated: 02/02/2012

Description

The subject property is a 37,910 square foot office building located at 1818 E. Southern Avenue in Mesa, Arizona. There are two separate but contiguous buildings included in the offering. The larger building is two-stories, and is comprised of 30,462 SF. The smaller building is single-story and totals 7,448 SF. The buildings have been extensively renovated during the past two years, with approximately $1.5 million invested. The property is 100% leased, anchored by the Internal Revenue Service, which represents 80% of the income on a new 20 year lease that commenced in 2008. The IRS specifically selected this site, and their entire space was built out specifically for their use. The buildings have numerous high-security features, as the IRS has a Criminal Investigation unit at this site. The remaining space is leased to a mix of local office tenants. The suites are individually metered for utilities, and range in size from 1,000 to 1,500 SF. These units provide security against rollover risk, and benefit from the strong tenant demand that exists for smaller suites.

The property has an excellent location near the major intersection of E. Southern Avenue and Gilbert Road in Mesa, which is the 3rd largest city in Arizona. The site has strong traffic counts and a centralized location near established national retailers, with easy access to major freeways Loop 101 and I-10.

Highlights

  • Anchored by IRS - 80% of Income
  • Long Term Lease with IRS
  • U.S. Govt. has Aaa Credit Rating by Moody's
  • Extensively Renovated in 2008
  • 100% Occupancy Level
  • Excellent Location with High Traffic Counts

Research

1818 E. Southern Avenue, Mesa, AZ 85204 (Maricopa County)

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