Turnkey Medical Office
For Sale
Contact for pricing
12821 N Cave Creek Rd, Phoenix, AZ 85022
Freestanding, ADA-compliant medical office built in 2006 with two suites and 15 parking spaces.
Property Size3,081 SF
Lot Size0.35 Acres
Price / SF$275.88
Days on Market63
Property Features for 12821 N Cave Creek Rd
General Information
Standard status
Active
Size
3,081 SF
Total Parking Spaces
15
Lot size
0.35 Acres
Property subtype
OFFICE
Additional Details
Road Access
Yes
Sprinkler System
Yes
Office Units
2
Building Details
Year Built
2006
Listing Agency:
ORION Investment Real Estate
(480) 848-3168
Listed By:
Garrett Hemeyer · License #SA691810000
(480) 848-3168
Source:
Moodyscre
Added: Jun 12
Changed: Jul 25
Last Checked: Jul 25 at 8:15PM
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 ORION Investment Real Estate
Investment Insights
Based on property information with market context.
Turnkey freestanding medical/office building built in 2006, offering ADA-compliant restrooms, fire sprinklers, and energy-efficient construction. Freshly painted with recent interior upgrades throughout, the building is divided into two suites for flexible occupancy or partial leasing.
The approximately 2,000 SF suite features a waiting room, reception area, corner office, five additional offices, and a dedicated restroom. The secondary approximately 1,000 SF suite includes four private offices, one bathroom, and additional storage space.
The property sits on a 15,126 SF lot with 15 parking spaces and Cave Creek Road frontage, providing straightforward ingress and egress.
The approximately 2,000 SF suite features a waiting room, reception area, corner office, five additional offices, and a dedicated restroom. The secondary approximately 1,000 SF suite includes four private offices, one bathroom, and additional storage space.
The property sits on a 15,126 SF lot with 15 parking spaces and Cave Creek Road frontage, providing straightforward ingress and egress.
Key Highlights
- Freestanding medical/office building in North Central Phoenix, built in 2006 and available for immediate owner‑user or tenant occupancy
- Two‑suite layout totaling 3,081 SF, with flexibility to occupy the whole building or lease a portion for additional income
- Includes ADA‑compliant restrooms, fire sprinklers, and energy‑efficient construction
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
$52,743
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
6.21%
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%
$1,054,860
$1.1M
Cap Rate 7%
$753,471
$753.5K
Cap Rate 9%
$586,033
$586.0K
Market Conditions
NOI Build-Up for 3,081 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
$94.6K $30.72/SF
− Vacancy
−$24.3K −$7.90/SF
EGI
$70.3K $22.82/SF
− OpEx
−$17.6K −$5.71/SF
NOI
$52.7K $17.12/SF
Area
Phoenix, AZ
Vacancy
25.70%
Lease Rate
$30.72 /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%
$1,054,860
Cap Rate 7%
$753,471
Cap Rate 9%
$586,033
Alternative Uses
Best Use
Office B
$753.5K
$659.3K – $879.1K
NOI $52,743 @ 7.0% cap · market cap 6.21%
Second Best
Healthcare Medical
$627.5K
$549.0K – $732.1K
NOI $43,923 @ 7.0% cap · market cap 5.17%
Theoretical Best
Office A
$933.3K
$816.6K – $1.09M
NOI $65,328 @ 7.0% cap · market cap 7.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Office units
Yes
Sprinkler system
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
679
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 85022, AZ
51,314
Population
25,020
Households
2.1
Avg Household Size
39
Median Age
36%
College-Educated
91%
High-School Grad
9.4 sq mi
ZIP Area
5,459
Density / Sq Mi
$66,601
Median Household Income
$45,875
Median Earnings
$1,517
Median Rent
$385,900
Median Home Value
Market
Vacancy Rate% for Office in Phoenix, AZ
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Freestanding, ADA-compliant medical office built in 2006 with two suites and 15 parking spaces.
Where is this medical office space located?
The property is located at 12821 N Cave Creek Rd Phoenix, AZ.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: Freestanding medical/office building in North Central Phoenix, built in 2006 and available for immediate owner‑user or tenant occupancy; Two‑suite layout totaling 3,081 SF, with flexibility to occupy the whole building or lease a portion for additional income; Includes ADA‑compliant restrooms, fire sprinklers, and energy‑efficient construction
