Anthem Office/Medical Condo For
For Sale
$799,999
42104 N Venture Dr Bldg D Ste 114, Anthem, AZ 85086
Office/medical condo available in Anthem, Arizona, near I-17.
Property Size2,153 SF
Price / SF$371.57
Days on Market259
Property Features for 42104 N Venture Dr Bldg D Ste 114
General Information
Standard status
Active
Size
2,153 SF
Property subtype
Office
Building Details
Year Built
2004
Listing Agency:
Commercial Properties Inc.
(602) 809-6570
Listed By:
Eric Butler · License #AZ #BR515583000
(602) 809-6570
Source:
Corfac
Added: Nov 25, 2025
Changed: Jul 6
Last Checked: Aug 11 at 5:34AM
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 Commercial Properties Inc.
Investment Insights
Based on property information with market context.
An office/medical condo is available for sale in Anthem, Arizona, situated off Anthem Drive and Venture, with immediate access to the I-17 Freeway. The property features building and monument signage. Currently built out for office use, the layout includes 4 offices, a conference room, 2 restrooms, a bullpen, and 3 entrances. The property offers easy access to diverse amenities. The property size is 2153 square feet.
Key Highlights
- Prime Location: Right off I‑17 Freeway in Anthem, AZ
- Versatile Layout: Includes 4 Offices, Conference Room, 2 Restrooms, Bull Pen, & 3 Entrances
- Building & Monument Signage available
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
$37,355
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
4.67%
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%
$747,100
$747.1K
Cap Rate 7%
$533,643
$533.6K
Cap Rate 9%
$415,056
$415.1K
Market Conditions
NOI Build-Up for 2,153 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
$65.9K $30.60/SF
− Vacancy
−$16.1K −$7.47/SF
EGI
$49.8K $23.13/SF
− OpEx
−$12.5K −$5.78/SF
NOI
$37.4K $17.35/SF
Area
Maricopa County, AZ
Vacancy
24.40%
Lease Rate
$30.60 /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%
$747,100
Cap Rate 7%
$533,643
Cap Rate 9%
$415,056
Alternative Uses
Best Use
Office B
$533.6K
$466.9K – $622.6K
NOI $37,355 @ 7.0% cap · market cap 4.67%
Second Best
Healthcare Medical
$434.8K
$380.5K – $507.3K
NOI $30,437 @ 7.0% cap · market cap 3.80%
Theoretical Best
Office A
$666.0K
$582.7K – $777.0K
NOI $46,619 @ 7.0% cap · market cap 5.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
37
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 85086, AZ
43,223
Population
17,213
Households
2.5
Avg Household Size
45
Median Age
42%
College-Educated
97%
High-School Grad
61.3 sq mi
ZIP Area
705
Density / Sq Mi
$118,543
Median Household Income
$62,626
Median Earnings
$2,177
Median Rent
$554,100
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 - Office/medical condo available in Anthem, Arizona, near I-17.
Where is this medical office space located?
The property is located at 42104 N Venture Dr Bldg D Ste 114 Anthem, AZ.
What is the asking price?
The asking price for this property is $799,999.
What are key features of this property?
This property features: Prime Location: Right off I‑17 Freeway in Anthem, AZ; Versatile Layout: Includes 4 Offices, Conference Room, 2 Restrooms, Bull Pen, & 3 Entrances; Building & Monument Signage available
