Built-Out Medical Office
New
For Sale
$370,000
12409 W Indian School Rd, Avondale, AZ 85392
C-2 zoning, two entry doors, and covered reserved parking support a ready-to-use professional setting.
Property Size961 SF
Price / SF$385.02
Days on Market2
Property Features for 12409 W Indian School Rd
General Information
Standard status
Active
Size
961 SF
Class
B
Total Parking Spaces
2
Property subtype
Office
Zoning
C-2
Additional Details
Office Units
1
Building Details
Building Size
961 SF
Year Built
2003
Tenancy
Single
Listing Agency:
SVN | Desert Commercial Advisors
Listed By:
Jonathan Levy · License #AZ #SA648012000
(623) 556-6420
Source:
Svndesertcommercial
Added: Sep 22
Last Checked: Sep 22 at 1:53PM
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 SVN | Desert Commercial Advisors
Investment Insights
Based on property information with market context.
Located at 12409 W Indian School Rd in Avondale, this approximately 961 SF medical office condo was built in 2003 and is configured for professional use. The interior includes a reception area, three private offices, a restroom, and a break room, with two separate entry doors providing convenient access. The property is zoned C-2 and includes two covered reserved parking spaces.
The condo is part of a professionally managed association with neighboring professional services, medical, and retail occupants. Building fascia signage is available, adding an on-site identification option for the occupant.
The condo is part of a professionally managed association with neighboring professional services, medical, and retail occupants. Building fascia signage is available, adding an on-site identification option for the occupant.
Key Highlights
- ±961 SF medical office condo built in 2003
- Reception area, 3 private offices, restroom, and break room
- C‑2 zoning with 2 separate entry doors
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
$16,674
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
4.51%
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%
$333,480
$333.5K
Cap Rate 7%
$238,200
$238.2K
Cap Rate 9%
$185,267
$185.3K
Market Conditions
NOI Build-Up for 961 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
$29.4K $30.60/SF
− Vacancy
−$7.2K −$7.47/SF
EGI
$22.2K $23.13/SF
− OpEx
−$5.6K −$5.78/SF
NOI
$16.7K $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%
$333,480
Cap Rate 7%
$238,200
Cap Rate 9%
$185,267
Alternative Uses
Best Use
Office B
$238.2K
$208.4K – $277.9K
NOI $16,674 @ 7.0% cap · market cap 4.51%
Second Best
Healthcare Medical
$194.1K
$169.8K – $226.4K
NOI $13,586 @ 7.0% cap · market cap 3.67%
Theoretical Best
Office A
$297.3K
$260.1K – $346.8K
NOI $20,808 @ 7.0% cap · market cap 5.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
1
Office units
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
376
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 85392, AZ
40,363
Population
14,481
Households
2.8
Avg Household Size
33
Median Age
25%
College-Educated
92%
High-School Grad
9.7 sq mi
ZIP Area
4,161
Density / Sq Mi
$84,965
Median Household Income
$47,259
Median Earnings
$1,829
Median Rent
$364,700
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
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Medical Office Space - C-2 zoning, two entry doors, and covered reserved parking support a ready-to-use professional setting.
Where is this medical office space located?
The property is located at 12409 W Indian School Rd Avondale, AZ.
What is the asking price?
The asking price for this property is $370,000.
What are key features of this property?
This property features: ±961 SF medical office condo built in 2003; Reception area, 3 private offices, restroom, and break room; C‑2 zoning with 2 separate entry doors
