Single-Tenant NNN Medical
New
For Sale
$656,000
14811 W Bell Rd. #103, Surprise, AZ 85374
Medical occupancy is supported by an absolute NNN lease with no landlord responsibilities.
Property Size1,473 SF
Days on Market2
Property Features for 14811 W Bell Rd. #103
General Information
Standard status
Active
Size
1,473 SF
Class
B
Property subtype
Office
Building Details
Building Size
1,473 SF
Tenancy
Single
Listed By:
Justin Horwitz, SIOR
(480) 220-2674
Source:
Svndesertcommercial
Added: Sep 11
Changed: Sep 12
Last Checked: Sep 12 at 7:35AM
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 occupied by Advanced Pain Management under an absolute NNN lease. The lease runs through January 2035 and includes 3% annual rent increases, while landlord responsibilities are excluded under the lease structure.
The property is located at 14811 W. Bell Rd. #103 in Surprise, Arizona. Advanced Pain Management has operated for over 15 years and maintains 8 locations throughout Greater Phoenix and Tucson. Four locations are being offered individually or together as a portfolio, providing flexibility in evaluating the available assets.
The property is located at 14811 W. Bell Rd. #103 in Surprise, Arizona. Advanced Pain Management has operated for over 15 years and maintains 8 locations throughout Greater Phoenix and Tucson. Four locations are being offered individually or together as a portfolio, providing flexibility in evaluating the available assets.
Key Highlights
- Absolute NNN lease extending through January 2035
- 3% annual rent increases
- Zero landlord responsibilities under the lease
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
$21,232
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
3.24%
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%
$424,640
$424.6K
Cap Rate 7%
$303,314
$303.3K
Cap Rate 9%
$235,911
$235.9K
Market Conditions
NOI Build-Up for 1,473 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
$38.9K $26.40/SF
− Vacancy
−$10.6K −$7.18/SF
EGI
$28.3K $19.22/SF
− OpEx
−$7.1K −$4.80/SF
NOI
$21.2K $14.41/SF
Area
Surprise, AZ
Vacancy
27.20%
Lease Rate
$26.40 /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%
$424,640
Cap Rate 7%
$303,314
Cap Rate 9%
$235,911
Alternative Uses
Best Use
Office B
$303.3K
$265.4K – $353.9K
NOI $21,232 @ 7.0% cap · market cap 3.24%
Second Best
Healthcare Medical
$284.8K
$249.2K – $332.2K
NOI $19,933 @ 7.0% cap · market cap 3.04%
Theoretical Best
Office A
$454.3K
$397.5K – $530.0K
NOI $31,798 @ 7.0% cap · market cap 4.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
842
Businesses Nearby
Explore this area
Business Placement
Demographics for 85374, AZ
41,182
Population
21,982
Households
1.9
Avg Household Size
61
Median Age
30%
College-Educated
95%
High-School Grad
12.8 sq mi
ZIP Area
3,217
Density / Sq Mi
$78,690
Median Household Income
$45,427
Median Earnings
$1,897
Median Rent
$355,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
NNN property - Medical occupancy is supported by an absolute NNN lease with no landlord responsibilities.
Where is this nnn property located?
The property is located at 14811 W Bell Rd. #103 Surprise, AZ.
What is the asking price?
The asking price for this property is $656,000.
What are key features of this property?
This property features: Absolute NNN lease extending through January 2035; 3% annual rent increases; Zero landlord responsibilities under the lease
