Medical Office Investment
1515 E Osborn Rd Phoenix, AZ 85014
1515 E Osborn Rd, Phoenix, AZ, 85014
Contact for pricing
For Sale
Contact for pricing
Two-building medical office investment with long-term stabilized tenants and 96% occupancy on 2.4 acres.
Property Size32,687 SF
Lot Size2.40 Acres
Price / SF$221.80
Days on Market94
Property Features for 1515 E Osborn Rd
General Information
- Standard status
- Active
- Size
- 32,687 SF
- Lot size
- 2.40 Acres
- Property subtype
- Office
Listing agency
Transwestern Phoenix
(602) 956-5000
Listed by
Kathleen Morgan · License #AZ BR111492000
Source
Crexi
Added: Apr 20 Updated: Jul 22 at 1:46AM Checked: Jul 22 at 1:46AM
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 Transwestern Phoenix
Investment Insights
Based on property information with market context.
This medical office investment includes approximately 32,687 square feet across two buildings and is described as being 96% occupied. The property features long-term, stabilized tenants.
Located at 1515 E Osborn Rd in Central Phoenix, the project is in close proximity to multiple major hospitals. The site is zoned R-5, which the seller notes may allow potential conversion opportunities, along with strong and stable cash flow.
Located at 1515 E Osborn Rd in Central Phoenix, the project is in close proximity to multiple major hospitals. The site is zoned R-5, which the seller notes may allow potential conversion opportunities, along with strong and stable cash flow.
Key Highlights
- Two‑building medical office totaling 32,687 SF on 2.4 acres
- 96% occupied with long‑term, stabilized tenants
- Zoned R‑5, allowing for potential conversion opportunities
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $1.00M | $30.72 |
| − Vacancy | −$258.1k | −$7.90 |
| EGI | $746.1k | $22.82 |
| − OpEx | −$186.5k | −$5.71 |
| NOI | $559.6k | $17.12 |
32,687 SF · lease $30.72/SF/yr · vacancy 25.70% · expense 25.00%
Alternative Uses
Best Use
Office B
$7.99M
$6.99M – $9.33M
NOI $559,560 @ 7.0% cap · market cap 7.72%
Second Best
Healthcare Medical
$6.66M
$5.82M – $7.77M
NOI $465,986 @ 7.0% cap · market cap 6.43%
Theoretical Best
Office A
$9.90M
$8.66M – $11.55M
NOI $693,082 @ 7.0% cap · market cap 9.56%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Community Partners Inc
Medical Clinic
Juniper Dery-Chaffin
Physician
Phoenix Dental Lab ...
Dental Office
Gregory Real Estate ...
Property Management Company
Valley Of The Sun United ...
Food Bank
Similar For Sale Nearby
Similar Off Market Nearby
- Phoenix Dog Cat Bird Hospital — 3418 N 7th Ave, Phoenix, AZ 85013
FAQs
What type of property is this?
Medical Office Space - Two-building medical office investment with long-term stabilized tenants and 96% occupancy on 2.4 acres.
Where is this medical office space located?
The property is located at 1515 E Osborn Rd Phoenix, AZ.
What is the asking price?
The asking price for this property is $7,250,000.
What are key features of this property?
This property features: Two‑building medical office totaling 32,687 SF on 2.4 acres; 96% occupied with long‑term, stabilized tenants; Zoned R‑5, allowing for potential conversion opportunities
