Absolute NNN Medical
For Sale
$575,000
2701 N 16th St. #111, Phoenix, AZ 85006
Single-tenant medical property with an absolute NNN lease, annual rent increases, and lease term extending through January 2035.
Property Size1,420 SF
Days on Market27
Property Features for 2701 N 16th St. #111
General Information
Standard status
Active
Size
1,420 SF
Class
B
Property subtype
Office
Building Details
Building Size
1,420 SF
Tenancy
Single
Listed By:
Justin Horwitz, SIOR
(480) 220-2674
Source:
Svndesertcommercial
Added: Sep 11
Changed: Oct 1
Last Checked: Oct 5 at 5:00PM
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 Justin Horwitz, SIOR
Investment Insights
Based on property information with market context.
This single-tenant medical property is leased to Advanced Pain Management under an absolute NNN structure extending through January 2035. The lease provides 3% annual rent increases and assigns zero landlord responsibilities. Advanced Pain Management has operated for more than 15 years and maintains 8 locations across Greater Phoenix and Tucson.
The property is located at 2701 N. 16th St. #111 in Phoenix, Arizona. It is one of four Advanced Pain Management locations being offered separately or as part of a portfolio, with the same lease structure applying across the offering. The asset is positioned for ownership under an established medical tenancy and a defined long-term lease arrangement.
The property is located at 2701 N. 16th St. #111 in Phoenix, Arizona. It is one of four Advanced Pain Management locations being offered separately or as part of a portfolio, with the same lease structure applying across the offering. The asset is positioned for ownership under an established medical tenancy and a defined long-term lease arrangement.
Key Highlights
- Absolute NNN lease with zero landlord responsibilities
- Lease term extends through January 2035
- 3% annual rent increases
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$24,309
Cap Rate
4.23%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$486,180
$486.2K
Cap Rate 7%
$347,271
$347.3K
Cap Rate 9%
$270,100
$270.1K
Market Conditions
NOI Build-Up for 1,420 SF
Gross rent
$43.6K $30.72/SF
− Vacancy
−$11.2K −$7.90/SF
EGI
$32.4K $22.82/SF
− OpEx
−$8.1K −$5.71/SF
NOI
$24.3K $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 Rate 5%
$486,180
Cap Rate 7%
$347,271
Cap Rate 9%
$270,100
Alternative Uses
Best Use
Office B
$347.3K
$303.9K – $405.2K
NOI $24,309 @ 7.0% cap · market cap 4.23%
Second Best
Healthcare Medical
$289.2K
$253.1K – $337.4K
NOI $20,244 @ 7.0% cap · market cap 3.52%
Theoretical Best
Office A
$430.1K
$376.4K – $501.8K
NOI $30,109 @ 7.0% cap · market cap 5.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,769
Businesses Nearby
Explore this area
Business Placement
Demographics for 85006, AZ
23,797
Population
10,607
Households
2.2
Avg Household Size
34
Median Age
27%
College-Educated
78%
High-School Grad
4.0 sq mi
ZIP Area
5,949
Density / Sq Mi
$60,742
Median Household Income
$39,899
Median Earnings
$1,168
Median Rent
$376,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Phoenix, AZ
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Frequently Asked Questions
What type of property is this?
NNN property - Single-tenant medical property with an absolute NNN lease, annual rent increases, and lease term extending through January 2035.
Where is this nnn property located?
The property is located at 2701 N 16th St. #111 Phoenix, AZ.
What is the asking price?
The asking price for this property is $575,000.
What are key features of this property?
This property features: Absolute NNN lease with zero landlord responsibilities; Lease term extends through January 2035; 3% annual rent increases
