Dental-Built Medical Office
1355 S Higley Rd Unit 114, Gilbert, AZ 85296
For Sale
Contact for pricing
The existing clinical buildout provides four operatories for medical office use.
Property Size7,977 SF
Price / SF$0.83
Days on Market670
Property Features for 1355 S Higley Rd Unit 114
General Information
Standard status
Size
Additional Details
Highway Access
Building Details
Year Built
Listing Agency:
The Menlo Group Commercial Real Estate
Listed By:
Grafton Milne · License AZ BR584594000
(480) 282-3089
Source:
Myphoenixhomesource
Added: Jan 9, 2025
Changed: Nov 1
Last Checked: Nov 8 at 7:14AM
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.
A 2,200-square-foot medical office suite in Gilbert is configured as a dental practice, with four operatories. The space is offered for sublease through June 30, 2027, within Higley Park Professional Village Condominium Association.
The property is adjacent to Loop 202 and near retail and business amenities. Parking is available for tenants and visitors.
The property is adjacent to Loop 202 and near retail and business amenities. Parking is available for tenants and visitors.
Key Highlights
- 2,200‑square‑foot suite configured as a dental office
- Four operatories
- Sublease term runs through June 30, 2027
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
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
NOI $116,309 @ 7.0% cap
Second Best
Healthcare Medical
$1.55M
$1.36M – $1.81M
NOI $108,551 @ 7.0% cap
Theoretical Best
Office A
$2.09M
$1.83M – $2.44M
NOI $146,606 @ 7.0% cap
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
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Current Use
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
$496,200
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Medical Office Space in Maricopa County, AZ
Properties on Market for Medical Office Space in Maricopa County
Vacancy Rate% for Office in West region
Similar Off Market Nearby
- Niki's Place — 1459 S Higley Rd #104, Gilbert, AZ 85296
- Test — 1034 S Storment Ln, Gilbert, AZ 85296
Frequently Asked Questions
What type of property is this?
Medical Office Space - The existing clinical buildout provides four operatories for medical office use.
Where is this medical office space located?
The property is located at 1355 S Higley Rd Unit 114 Gilbert, AZ.
What are key features of this property?
This property features: 2,200‑square‑foot suite configured as a dental office; Four operatories; Sublease term runs through June 30, 2027
