Building Details

Year Built 2006

Listing Agency: The Menlo Group Commercial Real Estate Show Phone

Listed By: Grafton Milne · License #BR584594000 Show Phone

Source: Thegouldgroupaz

Added: Sep 4 Changed: Oct 8 Last Checked: Oct 19 at 6:49AM

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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 The Menlo Group Commercial Real Estate

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Investment Insights

Based on property information with market context.

This built-out dental office offers approximately 2,200 SF with four operatories and a layout configured for medical office use. The space was built in 2006 and is located within Higley Park Professional Village Condominium Association.

Positioned adjacent to Loop 202, the property is near retail and business amenities. On-site parking accommodates tenants and visitors. The address is 1355 S Higley Road, Suite 114, Gilbert, Arizona 85296.

Key Highlights

• Approximately 2,200 SF of built‑out dental office space
• Four operatories support an established clinical layout
• Built in 2006

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$108,551

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,171,020 $2.2M

Cap Rate 7%

$1,550,729 $1.6M

Cap Rate 9%

$1,206,122 $1.2M

What to ask about pricing

Market Conditions

NOI Build-Up for 7,977 SF

Gross rent

$201.0K $25.20/SF

− Vacancy

−$20.1K −$2.52/SF

EGI

$180.9K $22.68/SF

− OpEx

−$72.4K −$9.07/SF

NOI

$108.6K $13.61/SF

Area

Gilbert, AZ

Vacancy

10.00%

Lease Rate

$25.20 /SF/Yr

Expense Ratio

40.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,171,020

Cap Rate 7%

$1,550,729

Cap Rate 9%

$1,206,122

Alternative Uses

Best Use

Office B

$1.66M

$1.45M – $1.94M (±1% cap)

NOI $116,309 @ 7.0% cap · market cap 1,759.86%

Second Best

Healthcare Medical

$1.55M

$1.36M – $1.81M (±1% cap)

NOI $108,551 @ 7.0% cap · market cap 1,642.47%

Theoretical Best

Office A

$2.09M

$1.83M – $2.44M (±1% cap)

NOI $146,606 @ 7.0% cap · market cap 2,218.28%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Michael Ramirez - MR ... Real Estate Agency The Key Box Studio Tutoring Service Kerr Endodontics Dental Office Higley Park Dental Dental Office Sienna Springs Dental Dental Office

Suggested Use

Top Pick Daycare Center Garden Center (Bike/Boat/Book/etc) Store Grocery & Convenience Store Carpet & Flooring Store Building Supply

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

Lease Details

Yes

Highway access

Location Intelligence

Trade Area within ½ mile

658

Businesses Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Demographics for 85296, AZ

50,418

Population

18,065

Households

2.8

Avg Household Size

34

Median Age

49%

College-Educated

96%

High-School Grad

11.7 sq mi

ZIP Area

4,309

Density / Sq Mi

$117,120

Median Household Income

$61,282

Median Earnings

$2,141

Median Rent

$496,200

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

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Frequently Asked Questions

What type of property is this?

Medical Office Space - Dental office configuration includes four operatories and parking for tenants and visitors.

Where is this medical office space located?

The property is located at 1355 S HIGLEY Road 114 Gilbert, AZ.

What are key features of this property?

This property features: Approximately 2,200 SF of built‑out dental office space; Four operatories support an established clinical layout; Built in 2006