723 E University Dr, Mesa, AZ 85203

Office · Mesa · Phoenix metro, AZ

One of 1,595 reachable office buildings in Mesa. Larger than 5% of office buildings in Mesa (median 6,078 SF), derived from assessor records.

County gross building area
1,901 SF, Maricopa County Assessor
Lot size
13,068 SF, Maricopa County Assessor
Year built
1950, Maricopa County Assessor
Stories
1, Maricopa County Assessor
Buildings on parcel
2, Maricopa County Assessor
Predominant use
Office Building 1 Story, Maricopa County Assessor
Assessed value
$428,000, per the Maricopa County Assessor (not a market appraisal)
Assessed value per building SF
$225.14/SF, derived from assessor records
Building area / lot
0.15, derived from assessor records
Vintage
1950s vintage
County use code
OFFICE BUILDING 1 STORY

Nearby comparable buildings

Same building type, by distance. Assessor facts only; not an opinion of value.

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Sale history and market context

MakeMe Estimate: $499K (estimated market value), with a likely range of $399K to $592K (half of recent verified sales in this segment landed inside that range). Computed as the county's full cash value of $428,000 times a 1.17 market ratio, measured from 3891 verified arm's-length sale prices vs county values (office sales in Mesa, through 2026-06-29). Not an appraisal. How this estimate works.

lower confidence: 20 comparable sales within 3 miles; nearest 0.2 mi. This property type carries wider measured error; treat the estimate as a starting point. Last arm's-length sale: $420,069 in 2022. The market has moved since; the estimate reflects current county values and ratios, not that price.

Comparable sales used as evidence

Recorded arm's-length sales of similar buildings nearby; nearer and more recent sales rank first. The strongest 5 of 20 nearby verified sales are shown. Buyer and seller names are withheld. Get this data via API.

Market context: Office in Mesa

median verified sale $200.39/SF over the trailing 24 months; 30 sales in the last 12 months and 66 in 24 (newest verified sale 2026-04); the middle 80% of recent sales traded at 0.78x to 2.11x their county full cash value, median 1.25x (66 sales with usable county values).

  • 2022: $153.46/SF median (46 sales)
  • 2023: $198.80/SF median (34 sales)
  • 2024: $192.75/SF median (37 sales)
  • 2025: $198.64/SF median (33 sales)
  • 2026 YTD: $284.05/SF median (6 sales)

This estimate sits at 1.17x county full cash value, the 38th percentile of those recent sale premiums.

Computed from 532 verified arm's-length sales in Maricopa County public records (66 in the trailing 24 months). Free public records. Not an appraisal.

Last sold: 2022-01-01 for $420,069 (recorded arm's-length sale).

Current ownership dates to 2022 (about 4 years) per recorded transfers.

Source: Maricopa County recorded sales extract; buyer and seller shown only when a company or organization. Individual names are withheld.

Value over time

$0$200K$400K$600K202220232024202520262027Last sold $420K · 2022$499K$428KCounty assessed valueRecorded sale

Dark line: county assessed value per Maricopa County tax rolls. Diamonds: recorded arm's-length sales.

Land, site, and value history

Assessed value moved from $403,800 (2026) to $428,000 (2027), up 6% over 1 years, per county tax rolls. The 2027 roll splits $428,000 into $160,400 land and $267,600 improvements.