New
For Sale
$595,000
15024 West Desert Hollow Dr, Surprise, AZ 85387
APPROVED ZONING for assisted living home.
Property Size2,645 SF
Lot Size0.00 Acres
Price / SF$224.95
Days on Market2
Property Features for 15024 West Desert Hollow Dr
General Information
Standard status
Active
Property type
Assisted living facilities, Healthcare properties
Size
2,645 SF
Total Parking Spaces
5
Elevators
No
Lot size
0.00 Acres
Building Details
Year Built
2026
Buildings
1
Stories
1
Units
1
Listed By:
Lenny Moon
(480) 319-0750
Added: Sep 25
Investment Insights
Based on property information with market context.
Key Highlights
- APPROVED ZONING for an assisted living home by the City of Surprise. Plans in hand for fire sprinkler system. Low entry, startup opportunity. Permits are still needed to accuate assisted living home.
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
$27,133
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
4.56%
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%
$542,660
$542.7K
Cap Rate 7%
$387,614
$387.6K
Cap Rate 9%
$301,478
$301.5K
Market Conditions
NOI Build-Up for 2,645 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
$52.4K $19.80/SF
− Vacancy
−$3.0K −$1.15/SF
EGI
$49.3K $18.65/SF
− OpEx
−$22.2K −$8.39/SF
NOI
$27.1K $10.26/SF
Area
Surprise, AZ
Vacancy
5.80%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
45.00%
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%
$542,660
Cap Rate 7%
$387,614
Cap Rate 9%
$301,478
Alternative Uses
Best Use
Apartment 5plus
$387.6K
$339.2K – $452.2K
NOI $27,133 @ 7.0% cap · market cap 4.56%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$815.7K
$713.7K – $951.6K
NOI $57,098 @ 7.0% cap · market cap 9.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
607
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 85387, AZ
16,331
Population
8,707
Households
1.9
Avg Household Size
52
Median Age
35%
College-Educated
94%
High-School Grad
60.0 sq mi
ZIP Area
272
Density / Sq Mi
$95,472
Median Household Income
$53,282
Median Earnings
$2,405
Median Rent
$453,800
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Frequently Asked Questions
What type of property is this?
Assisted living facility - APPROVED ZONING for assisted living home.
Where is this assisted living facility located?
The property is located at 15024 West Desert Hollow Dr Surprise, AZ.
What is the asking price?
The asking price for this property is $595,000.
What are key features of this property?
This property features: APPROVED ZONING for an assisted living home by the City of Surprise. Plans in hand for fire sprinkler system. Low entry, startup opportunity. Permits are still needed to accuate assisted living home.
