4700 N 51St Ave, Unit 4 Phoenix, AZ 85031
Single-tenant medical property with established tenant and growth potential.
Property size:
3,856 SFProperty Features for 4700 N 51St Ave
General Information
- Size
- 3,856 SF
Building Details
- Year built
- 1972
Source:
Svn
Listing Agent: Justin Horwitz, Sior
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
Overview
Phoenix Medical Investment Opportunity
This medical property in Phoenix, Arizona, is fully occupied by MVP Kids Care, a pediatric medicine provider established in 1962 with multiple locations. The property is located on 51st Avenue, south of Camelback Road, near the Valleywise Health Emergency Department and Grand Canyon University. It is also in close proximity to the I-10, I-17, Loop 202, US 60 and Loop 101 Freeways. MVP Kids Care entered into its current 96-month lease in August 2021, scheduled to expire in August 2029. The lease includes 2.5% annual rent increases every September. The tenant is currently paying $70,592 in base rent. The lease is a NNN lease in which the Tenant is fully responsible for its own utilities and expenses associated with the property, including reimbursing the Landlord for all operating expenses. The tenant has two options to renew the lease at five years each, at then prevailing market rents. The property presents a potential value-add opportunity when renewing the existing lease.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Arizona Womens Specialists
Obstetrician-Gynecologist
Ronald Morgan, DMD
Dentist
Megan Miller
Nurse Practitioner
Nahla Chirco, DNP, ...
Nurse Practitioner
MVP Kids Care
Pediatrician
Location Insight
- Map
- Local Demand
- City
- Phoenix
- County
- Maricopa
- State
- Arizona
- Longitude
- -112.1693321
- Latitude
- 33.5061956
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FAQs
What type of property is this?
Medical office - Single-tenant medical property with established tenant and growth potential.
Where is this medical office located?
The property is located at 4700 N 51St Ave, Unit 4 Phoenix, AZ.
What is the asking price?
The asking price for this property is $898,000.
What are key features of this property?
This property features: - Single-tenant NNN lease with a well-established medical tenant (MVP Kids Care) operating since 1962 with multiple locations, providing stable income.; - Below-market rents create a value-add opportunity upon lease renewal in August 2029, with potential for significant rent increases.; - Highly attractive CAP rate suitable for all-cash buyers or those using conventional financing.