Building Details

Building Size 723 SF

Year Built 1999

Listing Agency: Commercial Properties Inc

Listed By: Eric Butler · License #AZ #BR515583000 Show Phone

Source: Cpiaz

Added: Sep 4 Last Checked: Sep 5 at 6:46AM

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Investment Insights

Based on property information with market context.

This 723-square-foot medical office condo includes two private offices, a bullpen, one restroom, central A/C, and one covered parking space. The configuration is suited to a compact medical or professional office operation.

The property is located at 36800 N Sidewinder Rd in Carefree, near Tom Darlington and Sidewinder Road.

Key Highlights

• 723 SF medical office condo
• Two private offices and a bullpen
• One restroom with central A/C

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

$12,544

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

5.12%

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%

$250,880 $250.9K

Cap Rate 7%

$179,200 $179.2K

Cap Rate 9%

$139,378 $139.4K

Market Conditions

NOI Build-Up for 723 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

$22.1K $30.60/SF

− Vacancy

−$5.4K −$7.47/SF

EGI

$16.7K $23.13/SF

− OpEx

−$4.2K −$5.78/SF

NOI

$12.5K $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%

$250,880

Cap Rate 7%

$179,200

Cap Rate 9%

$139,378

Alternative Uses

Best Use

Office B

$179.2K

$156.8K – $209.1K (±1% cap)

NOI $12,544 @ 7.0% cap · market cap 5.12%

Second Best

Healthcare Medical

$146.0K

$127.8K – $170.4K (±1% cap)

NOI $10,221 @ 7.0% cap · market cap 4.17%

Theoretical Best

Office A

$223.6K

$195.7K – $260.9K (±1% cap)

NOI $15,655 @ 7.0% cap · market cap 6.39%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Medical Office Space

Suggested Use

Top Pick Building Supply Electrical Service Pharmacy HVAC Service Pet Grooming Service Law Firm

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

92

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 85377, AZ

3,515

Population

2,258

Households

1.6

Avg Household Size

65

Median Age

64%

College-Educated

99%

High-School Grad

8.6 sq mi

ZIP Area

409

Density / Sq Mi

$143,315

Median Household Income

$58,147

Median Earnings

$1,685

Median Rent

$1,058,600

Median Home Value

Market

Vacancy Rate% for Office in West region

11% 2019

14.1% 2020

15.5% 2021

17.2% 2022

19.9% 2023

21% 2024

20.8% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this medical office space located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Medical Office Space - Two private offices, a bullpen, restroom, central A/C, and covered parking support professional office use.

Where is this medical office space located?

The property is located at 36800 N Sidewinder Rd Carefree, AZ.

What is the asking price?

The asking price for this property is $245,000.

What are key features of this property?

This property features: 723 SF medical office condo; Two private offices and a bullpen; One restroom with central A/C