Single-Story Medical Office
For Sale
Contact for pricing
10679 N Frank Lloyd Wright Blvd Suite 102, Scottsdale, AZ 85259
Medical-zoned single-story condo in Plaza Leyenda Medical Office Complex, constructed in 2007.
Property Size2,157 SF
Price / SF$425
Days on Market18
Property Features for 10679 N Frank Lloyd Wright Blvd Suite 102
General Information
Standard status
Active
Size
2,157 SF
Class
B
Property subtype
Office
Zoning
C-3, City Of Scottsdale
Investment Type
Owner/User
Additional Details
Floor
Ground Floor
Highway Access
Yes
Office Units
1
Amenities
courtyard
sitting area
raised landscaping wall
copper accented lighting
Building Details
Year Built
2007
Year Renovated
2026
Buildings
10
Stories
1
Tenancy
Single
Owner Occupied
Yes
Listing Agency:
Shell Commercial Investment Real Estate
(480) 443-3992
Listed By:
John Quatrini · License #AZ BR043020000
Source:
Crexi
Added: Jul 27
Changed: Aug 8
Last Checked: Aug 13 at 6:13AM
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 Shell Commercial Investment Real Estate
Investment Insights
Based on property information with market context.
This single-story medical-zoned office condo offers 2,157± SF of space and was constructed in 2007. The suite is located within Plaza Leyenda Medical Office Complex, part of the Central Scottsdale submarket.
Plaza Leyenda is a Class 'A' office/medical condominium complex comprised of 10 buildings, including six single-story buildings and four two-story buildings. The complex features exterior stone columns, custom contemporary rock water features, a serene courtyard with a sitting area and a raised landscaping wall, and copper accented lighting. The property is 2.5 miles from the Loop 101 / Shea Blvd interchange and within minutes of Mayo Clinic and Honor Health Hospital.
Current ownership operates a dental lab on-site and would consider an asset sale of the business.
Plaza Leyenda is a Class 'A' office/medical condominium complex comprised of 10 buildings, including six single-story buildings and four two-story buildings. The complex features exterior stone columns, custom contemporary rock water features, a serene courtyard with a sitting area and a raised landscaping wall, and copper accented lighting. The property is 2.5 miles from the Loop 101 / Shea Blvd interchange and within minutes of Mayo Clinic and Honor Health Hospital.
Current ownership operates a dental lab on-site and would consider an asset sale of the business.
Key Highlights
- 2,157± SF single‑story medical‑zoned office condo
- Constructed in 2007
- Suite is within Plaza Leyenda Medical Office Complex
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
$34,149
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
3.73%
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%
$682,980
$683.0K
Cap Rate 7%
$487,843
$487.8K
Cap Rate 9%
$379,433
$379.4K
Market Conditions
NOI Build-Up for 2,157 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
$55.4K $25.68/SF
− Vacancy
−$9.9K −$4.57/SF
EGI
$45.5K $21.11/SF
− OpEx
−$11.4K −$5.28/SF
NOI
$34.1K $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%
$682,980
Cap Rate 7%
$487,843
Cap Rate 9%
$379,433
Alternative Uses
Best Use
Office B
$487.8K
$426.9K – $569.2K
NOI $34,149 @ 7.0% cap · market cap 3.73%
Second Best
Healthcare Medical
$439.3K
$384.4K – $512.5K
NOI $30,750 @ 7.0% cap · market cap 3.35%
Theoretical Best
Retail
$708.1K
$619.6K – $826.1K
NOI $49,566 @ 7.0% cap · market cap 5.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Office units
Single-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
737
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 85259, AZ
22,548
Population
10,864
Households
2.1
Avg Household Size
51
Median Age
69%
College-Educated
99%
High-School Grad
20.7 sq mi
ZIP Area
1,089
Density / Sq Mi
$145,574
Median Household Income
$80,502
Median Earnings
$1,769
Median Rent
$956,300
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Medical-zoned single-story condo in Plaza Leyenda Medical Office Complex, constructed in 2007.
Where is this medical office space located?
The property is located at 10679 N Frank Lloyd Wright Blvd Suite 102 Scottsdale, AZ.
What is the asking price?
The asking price for this property is $916,725.
What are key features of this property?
This property features: 2,157± SF single‑story medical‑zoned office condo; Constructed in 2007; Suite is within Plaza Leyenda Medical Office Complex
