Medical Office
New
For Sale
$978,000
10181 N 92nd St #101, Scottsdale, AZ 85258
Configured for clinical care, the suite includes exam rooms, administrative offices, patient reception, and allocated covered parking.
Property Size2,103 SF
Price / SF$465.05
Days on Market1
Property Features for 10181 N 92nd St #101
General Information
Standard status
Active
Size
2,103 SF
Class
B
Total Parking Spaces
2
Property subtype
Office
Site & Location
Highway Access
Yes
Road Access
Yes
Building Details
Building Size
2,103 SF
Listed By:
Justin Horwitz, SIOR
(480) 220-2674
Source:
Svndesertcommercial
Added: Sep 26
Last Checked: Sep 26 at 3:23PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Justin Horwitz, SIOR
Investment Insights
Based on property information with market context.
This 2,103-square-foot medical office condominium is arranged for patient-facing practice, with a waiting area and reception workspace at the front. The interior also includes four exam rooms, each with a sink, multiple nurse stations, two private offices, a kitchen and break area, and multiple restrooms. Two covered parking spaces are reserved for the suite.
The property is at 10181 N. 92nd St in Scottsdale, directly across from HonorHealth Scottsdale Shea Medical Center. Parking is available on both the north and south sides of the building, with signage serving those areas. Shea Boulevard provides direct access, and the property connects to Loop 101. Nearby retail, dining, and service businesses add to the surrounding context.
The property is at 10181 N. 92nd St in Scottsdale, directly across from HonorHealth Scottsdale Shea Medical Center. Parking is available on both the north and south sides of the building, with signage serving those areas. Shea Boulevard provides direct access, and the property connects to Loop 101. Nearby retail, dining, and service businesses add to the surrounding context.
Key Highlights
- 2,103‑square‑foot medical office condominium
- Four exam rooms with sinks and multiple nurse stations
- Patient waiting area, reception workspace, and two private offices
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$33,294
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.40%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$665,880
$665.9K
Cap Rate 7%
$475,629
$475.6K
Cap Rate 9%
$369,933
$369.9K
Market Conditions
NOI Build-Up for 2,103 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$54.0K $25.68/SF
− Vacancy
−$9.6K −$4.57/SF
EGI
$44.4K $21.11/SF
− OpEx
−$11.1K −$5.28/SF
NOI
$33.3K $15.83/SF
Area
Scottsdale, AZ
Vacancy
17.80%
Lease Rate
$25.68 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$665,880
Cap Rate 7%
$475,629
Cap Rate 9%
$369,933
Alternative Uses
Best Use
Office B
$475.6K
$416.2K – $554.9K
NOI $33,294 @ 7.0% cap · market cap 3.40%
Second Best
Healthcare Medical
$428.3K
$374.8K – $499.7K
NOI $29,980 @ 7.0% cap · market cap 3.07%
Theoretical Best
Retail
$690.4K
$604.1K – $805.4K
NOI $48,325 @ 7.0% cap · market cap 4.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
3,610
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 85258, AZ
25,203
Population
15,566
Households
1.6
Avg Household Size
55
Median Age
63%
College-Educated
99%
High-School Grad
10.3 sq mi
ZIP Area
2,447
Density / Sq Mi
$105,171
Median Household Income
$68,184
Median Earnings
$1,945
Median Rent
$744,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in West region
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Configured for clinical care, the suite includes exam rooms, administrative offices, patient reception, and allocated covered parking.
Where is this medical office space located?
The property is located at 10181 N 92nd St #101 Scottsdale, AZ.
What is the asking price?
The asking price for this property is $978,000.
What are key features of this property?
This property features: 2,103‑square‑foot medical office condominium; Four exam rooms with sinks and multiple nurse stations; Patient waiting area, reception workspace, and two private offices
