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Bldg 2 840 E McKellips Rd 5,596 SF Office Building Mesa, AZ 85203 $2,285,000 ($408.33/SF)
Investment Highlights
- Owner-user or value-add investment with 3,296 SF available
- Currently 40% leased, through 10/31/2027
- Located within an established, multi-building medical condominium
- Medical build out, ideal for physicians, specialists, or healthcare groups
Executive Summary
840 E McKellips Rd, Building 2 presents an attractive opportunity for an owner-user seeking immediate occupancy with supplemental income to offset ownership costs. An owner can occupy 3,296 SF for their business while generating income from an existing 2,300 SF lease, providing stable cash flow that can be applied toward mortgage payments and meaningfully reducing effective occupancy costs compared
to leasing.
The 2,300 SF leased suite expires in 2027, offering near-term income with future flexibility to either expand into the space or retenant at market rates. The property also features approximately $300,000 in medical-specific tenant improvements completed in 2021, delivering a move-in-ready environment for medical or professional users and minimizing upfront capital requirements. This combination enables an owner-user to control their space, build equity, and benefit from long-term appreciation while rental income supports debt service and enhances overall financial performance.
to leasing.
The 2,300 SF leased suite expires in 2027, offering near-term income with future flexibility to either expand into the space or retenant at market rates. The property also features approximately $300,000 in medical-specific tenant improvements completed in 2021, delivering a move-in-ready environment for medical or professional users and minimizing upfront capital requirements. This combination enables an owner-user to control their space, build equity, and benefit from long-term appreciation while rental income supports debt service and enhances overall financial performance.
Property Facts
Sale Type
Owner User
Property Type
Building Size
5,596 SF
Building Class
B
Year Built
2003
Price
$2,285,000
Price Per SF
$408.33
Tenancy
Multiple
Building Height
1 Story
Typical Floor Size
5,596 SF
Building FAR
0.99
Lot Size
0.13 AC
Zoning
C-2, Mesa
Parking
20 Spaces (3.57 Spaces per 1,000 SF Leased)
Space Availability
- Space
- Size
- Space Use
- Build-Out
- Available
- 1st Floor
- 3,296 SF
- Office/Medical
- Full Build-Out
- Now
| Space | Size | Space Use | Build-Out | Available |
| 1st Floor | 3,296 SF | Office/Medical | Full Build-Out | Now |
1st Floor
| Size |
| 3,296 SF |
| Space Use |
| Office/Medical |
| Build-Out |
| Full Build-Out |
| Available |
| Now |
1 1
Fairly walkable
50/100
Exceptionally drivable
100/100
Limited public transit
20/100
Exceptionally bikeable
90/100
Property Taxes
| Parcel Number | 136-08-100 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $86,657 |
Property Taxes
Parcel Number
136-08-100
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$86,657
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Bldg 2 | 840 E McKellips Rd
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