NNN-Leased Medical Office
For Sale
$1,790,000
1295 E Florence Blvd, Casa Grande, AZ 85122
NNN medical or office property with a leased suite through November 2028 and B-2 zoning.
Property Size4,667 SF
Price / SF$383.54
Days on Market48
Property Features for 1295 E Florence Blvd
General Information
Standard status
Active
Size
4,667 SF
Class
B
Property subtype
Office
Zoning
B-2
Building Details
Building Size
4,667 SF
Year Built
1990
Listing Agency:
Menlo Group Commercial Real Estate
(480) 228-6137
Listed By:
Jason Triano, CCIM
(480) 228-6137
Source:
Menlocre
Added: Jun 25
Changed: Aug 9
Last Checked: Aug 11 at 5:32AM
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 Menlo Group Commercial Real Estate
Investment Insights
Based on property information with market context.
The property is a 4,667 SF medical office/office building configured for professional use, with a leased suite of 1,868 SF. It is presented as a NNN lease investment and also as a potential owner-user option, particularly for office or medical operators who want an existing, versatile layout. The listing notes it is suited for a dentist relocation or expansion plan.
The building is located at 1295 E Florence Blvd in Casa Grande, Arizona, positioned at a busy intersection. Zoning is identified as B-2, supporting a range of commercial uses consistent with office and medical needs. The lease structure is identified as NNN, with the current lease expiring in November 2028.
For investors, the unit economics presented with the lease include an NOI of $37,070 tied to the 1,868 SF leased suite. For owner-users, the combination of a leased professional suite, B-2 zoning, and a layout described as versatile may fit tenants seeking a medical-office oriented environment. This offering may also align with practitioners evaluating timing around the November 2028 lease expiration for future occupancy or repositioning.
The building is located at 1295 E Florence Blvd in Casa Grande, Arizona, positioned at a busy intersection. Zoning is identified as B-2, supporting a range of commercial uses consistent with office and medical needs. The lease structure is identified as NNN, with the current lease expiring in November 2028.
For investors, the unit economics presented with the lease include an NOI of $37,070 tied to the 1,868 SF leased suite. For owner-users, the combination of a leased professional suite, B-2 zoning, and a layout described as versatile may fit tenants seeking a medical-office oriented environment. This offering may also align with practitioners evaluating timing around the November 2028 lease expiration for future occupancy or repositioning.
Key Highlights
- 4,667 SF office/medical property at 1295 E Florence Blvd (Casa Grande, AZ), built in 1990
- NNN lease expires November 2028 with a leased suite size of 1,868 SF
- Net operating income (NOI) reported at $37,070
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
$64,374
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
3.60%
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%
$1,287,480
$1.3M
Cap Rate 7%
$919,629
$919.6K
Cap Rate 9%
$715,267
$715.3K
Market Conditions
NOI Build-Up for 4,667 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
$108.6K $23.28/SF
− Vacancy
−$22.8K −$4.89/SF
EGI
$85.8K $18.39/SF
− OpEx
−$21.5K −$4.60/SF
NOI
$64.4K $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%
$1,287,480
Cap Rate 7%
$919,629
Cap Rate 9%
$715,267
Alternative Uses
Best Use
Office B
$919.6K
$804.7K – $1.07M
NOI $64,374 @ 7.0% cap · market cap 3.60%
Second Best
Healthcare Medical
$763.0K
$667.6K – $890.1K
NOI $53,408 @ 7.0% cap · market cap 2.98%
Theoretical Best
Office A
$1.29M
$1.13M – $1.51M
NOI $90,317 @ 7.0% cap · market cap 5.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
859
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 85122, AZ
55,063
Population
24,238
Households
2.3
Avg Household Size
39
Median Age
19%
College-Educated
88%
High-School Grad
56.4 sq mi
ZIP Area
976
Density / Sq Mi
$64,243
Median Household Income
$38,679
Median Earnings
$1,289
Median Rent
$242,500
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 - NNN medical or office property with a leased suite through November 2028 and B-2 zoning.
Where is this medical office space located?
The property is located at 1295 E Florence Blvd Casa Grande, AZ.
What is the asking price?
The asking price for this property is $1,790,000.
What are key features of this property?
This property features: 4,667 SF office/medical property at 1295 E Florence Blvd (Casa Grande, AZ), built in 1990; NNN lease expires November 2028 with a leased suite size of 1,868 SF; Net operating income (NOI) reported at $37,070
