Fresenius Medical
For Sale
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11540 E University Dr, Apache Junction, AZ 85120
Medical office property associated with Fresenius Kidney Care and built in 2005.
Property Size14,370 SF
Price / SF$239.52
Days on Market187
Property Features for 11540 E University Dr
General Information
Standard status
Active
Size
14,370 SF
Class
B
Property subtype
Office
Occupancy
80%
Lease Type
NNN
Investment Type
Net Lease
Net Operating Income
$240,933
Building Details
Year Built
2005
Buildings
1
Stories
1
Units
3
Listing Agency:
Matthews
Listed By:
Tyler Swade · License #CA 02238285
Source:
Crexi
Added: Feb 26
Changed: Aug 31
Last Checked: Aug 31 at 1:29PM
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 Matthews
Investment Insights
Based on property information with market context.
This medical office property was completed in 2005 and is associated with Fresenius Kidney Care. The asset is identified as a 14,370-size property in the listing data.
The property is located at 11540 E University Dr in Apache Junction, Arizona, within the Phoenix East Valley.
The property is located at 11540 E University Dr in Apache Junction, Arizona, within the Phoenix East Valley.
Key Highlights
- Associated with Fresenius Kidney Care
- Medical office classification
- Built in 2005
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
$198,211
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
5.76%
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%
$3,964,220
$4.0M
Cap Rate 7%
$2,831,586
$2.8M
Cap Rate 9%
$2,202,344
$2.2M
Market Conditions
NOI Build-Up for 14,370 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
$334.5K $23.28/SF
− Vacancy
−$70.3K −$4.89/SF
EGI
$264.3K $18.39/SF
− OpEx
−$66.1K −$4.60/SF
NOI
$198.2K $13.79/SF
Area
Pinal County, AZ
Vacancy
21.00%
Lease Rate
$23.28 /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%
$3,964,220
Cap Rate 7%
$2,831,586
Cap Rate 9%
$2,202,344
Alternative Uses
Best Use
Office B
$2.83M
$2.48M – $3.30M
NOI $198,211 @ 7.0% cap · market cap 5.76%
Second Best
Healthcare Medical
$2.35M
$2.06M – $2.74M
NOI $164,446 @ 7.0% cap · market cap 4.78%
Theoretical Best
Office A
$3.97M
$3.48M – $4.63M
NOI $278,092 @ 7.0% cap · market cap 8.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
202
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 85120, AZ
30,605
Population
17,430
Households
1.8
Avg Household Size
54
Median Age
14%
College-Educated
87%
High-School Grad
23.1 sq mi
ZIP Area
1,325
Density / Sq Mi
$53,921
Median Household Income
$35,155
Median Earnings
$958
Median Rent
$162,900
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 office property associated with Fresenius Kidney Care and built in 2005.
Where is this medical office space located?
The property is located at 11540 E University Dr Apache Junction, AZ.
What is the asking price?
The asking price for this property is $3,441,900.
What are key features of this property?
This property features: Associated with Fresenius Kidney Care; Medical office classification; Built in 2005
