Jackson Center 303 N Centennial Way 8,808 SF 100% Leased Office Building Mesa, AZ 85201 $2,302,080 CAD ($261.36 CAD/SF) 8.07% Cap Rate

Positioned in the heart of Downtown Mesa, this fully leased 8,800 SF office building offers investors a stabilized asset with immediate income and long-term upside. Located at 303 North Centennial Way, the property sits at the high-visibility corner of University Drive and Centennial Way, just blocks from Mesa’s light rail stations, the Mesa Convention Center, Phoenix Marriott Mesa Hotel, and the vibrant Main Street entertainment district.
The building features two equal floors of 4,400 SF each, with directory and building signage in place. Tenants benefit from proximity to a large city-owned parking field with both covered and uncovered spaces available via permit, plus 52 public-use spaces for short-term visitors. The current ownership structure requires tenants to manage their own parking permits, minimizing landlord overhead.
The rent roll includes three tenants: Choice Recovery (MTM lease), Physical Therapy (gross lease through June 2026), and Project Impact Recovery (NNN lease pending). Combined annual rent totals $170,200, with a net operating income of $133,107 and a cap rate of 8.07%. Operating expenses are modest, with utilities and taxes comprising the bulk of costs.
Surrounding traffic counts exceed 33,000 vehicles daily on University Drive, and the 5-mile population is projected to grow to over 370,000 by 2029, with average household incomes surpassing $80,000. This demographic strength, coupled with the property’s central location and full occupancy, makes it a compelling acquisition for investors seeking stable returns in a growing urban core.