Remodeled Medical Office
New
For Sale
$975,000
15182 N 75th Ave Unit A120, Peoria, AZ 85381
Existing dental cabinetry and a clinical-office layout support continued medical office use.
Property Size8,371 SF
Price / SF$415.78
Days on Market2
Property Features for 15182 N 75th Ave Unit A120
General Information
Standard status
Active
Size
8,371 SF
Class
B
Property subtype
Office
Site & Location
Highway Access
Yes
Road Access
Yes
Additional Details
Furnished
Yes
Building Details
Building Size
8,371 SF
Year Built
2003
Listing Agency:
Menlo Group Commercial Real Estate
Listed By:
Ryan Edwards · License #SA697072000
(480) 760-5044
Source:
Menlocre
Added: Sep 26
Last Checked: Sep 26 at 3:21PM
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 Menlo Group Commercial Real Estate
Investment Insights
Based on property information with market context.
This 2,345 SF medical office suite was built in 2003 and previously operated as a dental office. The interior has been remodeled, with work including new flooring in the former CBCT room, refreshed paint and baseboards, cabinetry refurbishment, plumbing and drywall repairs, HVAC component replacement, and a new water softener. Existing dental cabinetry is included. The suite is part of an 8,371 SF building and has been professionally cleaned.
The property is on 75th Ave in Peoria, with visibility from the avenue. Loop 101 is approximately 2.5 miles away.
The property is on 75th Ave in Peoria, with visibility from the avenue. Loop 101 is approximately 2.5 miles away.
Key Highlights
- +/- 2,345 SF former dental office suite
- Existing dental cabinetry included
- +/- 8,371 SF building; built in 2003
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
$35,187
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
3.61%
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%
$703,740
$703.7K
Cap Rate 7%
$502,671
$502.7K
Cap Rate 9%
$390,967
$391.0K
Market Conditions
NOI Build-Up for 2,345 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
$54.9K $23.40/SF
− Vacancy
−$8.0K −$3.39/SF
EGI
$46.9K $20.01/SF
− OpEx
−$11.7K −$5.00/SF
NOI
$35.2K $15.01/SF
Area
Peoria, AZ
Vacancy
14.50%
Lease Rate
$23.40 /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%
$703,740
Cap Rate 7%
$502,671
Cap Rate 9%
$390,967
Alternative Uses
Best Use
Office B
$502.7K
$439.8K – $586.5K
NOI $35,187 @ 7.0% cap · market cap 3.61%
Second Best
Healthcare Medical
$458.4K
$401.1K – $534.8K
NOI $32,088 @ 7.0% cap · market cap 3.29%
Theoretical Best
Office A
$577.4K
$505.2K – $673.6K
NOI $40,415 @ 7.0% cap · market cap 4.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
208
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 85381, AZ
27,008
Population
11,393
Households
2.4
Avg Household Size
40
Median Age
34%
College-Educated
95%
High-School Grad
6.7 sq mi
ZIP Area
4,031
Density / Sq Mi
$94,442
Median Household Income
$49,458
Median Earnings
$1,726
Median Rent
$407,900
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 West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Existing dental cabinetry and a clinical-office layout support continued medical office use.
Where is this medical office space located?
The property is located at 15182 N 75th Ave Unit A120 Peoria, AZ.
What is the asking price?
The asking price for this property is $975,000.
What are key features of this property?
This property features: +/- 2,345 SF former dental office suite; Existing dental cabinetry included; +/- 8,371 SF building; built in 2003
