Absolute NNN Medical
For Sale
$627,000
4140 N 108th Ave., Phoenix, AZ 85037
Single-tenant medical asset with a long-term lease and no landlord responsibilities.
Property Size1,499 SF
Days on Market26
Property Features for 4140 N 108th Ave.
General Information
Standard status
Active
Size
1,499 SF
Class
B
Property subtype
Office
Building Details
Building Size
1,499 SF
Tenancy
Single
Listed By:
Justin Horwitz, SIOR
(480) 220-2674
Source:
Svndesertcommercial
Added: Sep 12
Changed: Sep 27
Last Checked: Oct 5 at 4:17PM
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. The lease extends through January 2035 and provides for 3% annual rent increases, with no landlord responsibilities identified in the offering details.
The property is located at 4140 N. 108th Ave. in Phoenix, Arizona. It is one of four Advanced Pain Management locations offered individually or as a portfolio, with the same lease terms applying across the locations. The medical practice has operated for more than 15 years and maintains 8 locations throughout Greater Phoenix and Tucson.
The property is located at 4140 N. 108th Ave. in Phoenix, Arizona. It is one of four Advanced Pain Management locations offered individually or as a portfolio, with the same lease terms applying across the locations. The medical practice has operated for more than 15 years and maintains 8 locations throughout Greater Phoenix and Tucson.
Key Highlights
- Absolute NNN lease through January 2035
- 3% annual rent increases
- Zero landlord responsibilities
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$25,661
Cap Rate
4.09%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$513,220
$513.2K
Cap Rate 7%
$366,586
$366.6K
Cap Rate 9%
$285,122
$285.1K
Market Conditions
NOI Build-Up for 1,499 SF
Gross rent
$46.0K $30.72/SF
− Vacancy
−$11.8K −$7.90/SF
EGI
$34.2K $22.82/SF
− OpEx
−$8.6K −$5.71/SF
NOI
$25.7K $17.12/SF
Area
ZIP 85037
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%
$513,220
Cap Rate 7%
$366,586
Cap Rate 9%
$285,122
Alternative Uses
Best Use
Office B
$366.6K
$320.8K – $427.7K
NOI $25,661 @ 7.0% cap · market cap 4.09%
Second Best
Healthcare Medical
$298.5K
$261.2K – $348.3K
NOI $20,895 @ 7.0% cap · market cap 3.33%
Theoretical Best
Office A
$454.1K
$397.3K – $529.7K
NOI $31,784 @ 7.0% cap · market cap 5.07%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
509
Businesses Nearby
Explore this area
Business Placement
Demographics for 85037, AZ
50,929
Population
16,020
Households
3.2
Avg Household Size
29
Median Age
14%
College-Educated
79%
High-School Grad
8.2 sq mi
ZIP Area
6,211
Density / Sq Mi
$81,919
Median Household Income
$40,866
Median Earnings
$1,649
Median Rent
$290,600
Median Home Value
Market
Vacancy Rate% for Office in Phoenix, AZ
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
NNN property - Single-tenant medical asset with a long-term lease and no landlord responsibilities.
Where is this nnn property located?
The property is located at 4140 N 108th Ave. Phoenix, AZ.
What is the asking price?
The asking price for this property is $627,000.
What are key features of this property?
This property features: Absolute NNN lease through January 2035; 3% annual rent increases; Zero landlord responsibilities
