Listing Agency: CBRE | Phoenix p***@cbre.com Show Phone

Listed By: Philip Wurth, CCIM Show Phone

Source: Cbre

Added: Mar 25 Changed: Aug 9 Last Checked: Aug 21 at 9:41AM

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Investment Insights

Based on property information with market context.

This medical office building, constructed in 1975 and refurbished in 2021, offers approximately 62,851 square feet of space. The property is centrally located near Banner University Medical Center and is less than a mile from Valley Metro Rail. It provides convenient access to freeways I-10, SR-51, and I-17. The available space is approximately 11,219 square feet.

Key Highlights

• Centrally located near Banner University Medical Center
• ±62,851 SF Medical Office Building
• Refurbished in 2021

Property Analytics

Property Profile

Current Use

Dr Lubomir Manov ... Dental Office Phoenix Gynecology Consultants ... Physician Paquet Facial Plastic ... Physician Dr. Christian Paquet Physician Keenan Wanamaker Physician

Suggested Use

Top Pick (Bike/Boat/Book/etc) Store Veterinary Clinic Pet Grooming Service Travel Agency Auto Parts Store Locksmith

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

NNN (Triple Net)

Lease Type

$2.48 /SF/Yr

CAM

Location Intelligence

Trade Area within ½ mile

3,180

Businesses Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Demographics for 85006, AZ

23,797

Population

10,607

Households

2.2

Avg Household Size

34

Median Age

27%

College-Educated

78%

High-School Grad

4.0 sq mi

ZIP Area

5,949

Density / Sq Mi

$60,742

Median Household Income

$39,899

Median Earnings

$1,168

Median Rent

$376,600

Median Home Value

Market

Lease Benchmarks for Phoenix, AZ

$18.12 /SF/Yr

Avg Asking Price

$2.72–$32 /SF/Yr

Price Range

11,819 SF

Avg Space Size

This space is priced 9% below the average of $18.12 /SF/Yr.

Vacancy Rate% for Office in Phoenix, AZ

14.4% 2019

19.3% 2020

21.7% 2021

24.3% 2022

27.4% 2023

28.5% 2024

26.5% 2025

Questions? Ask Rey

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What type of property is this? Where is this medical office space located? What is the lease rate? Find similar properties ... What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Medical Office Space - Medical office building near Banner University Medical Center.

Where is this medical office space located?

The property is located at 1010 East McDowell Road Phoenix, AZ.

What is the lease rate?

The lease rate is $16.50 SF/Yr.

What are key features of this property?

This property features: Centrally located near Banner University Medical Center; ±62,851 SF Medical Office Building; Refurbished in 2021