10-Bed Behavioral Health
For Sale
$1,795,000
1522 W MYRTLE Avenue, Phoenix, AZ 85021
COMMERCIAL - Phoenix, AZ
Property Size6,894 SF
Lot Size0.89 Acres
Price / SF$260.37
Days on Market96
Property Features for 1522 W MYRTLE Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Parking features
Parking Lot, Fenced, Off Street
Security features
Security System
Exterior features
Rain Gutters
Subdivision
WEST ORANGEWOOD
Lot features
Landscaping
Standard status
Active
APN
157-13-002-C
Size
6,894 SF
Lot size
0.89 Acres
Taxes and HOA fees
Tax Description
WEST ORANGEWOOD MCR 6-37 E 400F OF S2 OF LOT 12 EX N 470F & EX W 10F & EX E 5F & ALSO TH PT LOT 12 D
Legal Description
WEST ORANGEWOOD MCR 6-37 E 400F OF S2 OF LOT 12 EX N 470F & EX W 10F & EX E 5F & ALSO TH PT LOT 12 D
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Forced Air
Cooling system
Electric, Heat Pump, Ceiling Fan(s)
Amenities
garden
patio spaces
fountains
circular pool
Building Details
Building materials
Wood Frame, Stucco
Listing Agency:
HomeSmart
(602) 230-7600
Listed By:
Brian Hines · License #SA044449000
(602) 614-8822
Added: May 18
Changed: Aug 4
Last Checked: Aug 21 at 6:06PM
MLS# 7030667
Copyright © 2026 Arizona Regional Multiple Listing Service, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
City licensed 10-bed behavioral health center set on a 0.89-acre property in Phoenix. The facility has been arranged for ADL or behavioral health rehabilitation, with patio spaces and outdoor features including fountains and a circular pool. Interior space includes 6 half bathrooms and 3 shower rooms, along with a large main building plus a casita/rec room area.
The property is currently zoned residential. Exterior features include rain gutters, and the home is constructed of wood frame with stucco. Heating is provided via natural gas forced air, with electric cooling that includes ceiling fans and a heat pump. Parking is offered via a parking lot with off-street access, fenced for added control. Public sewer service is available.
This is a distinctive, larger-footprint site designed around private outdoor and recreation space for behavioral health use.
The property is currently zoned residential. Exterior features include rain gutters, and the home is constructed of wood frame with stucco. Heating is provided via natural gas forced air, with electric cooling that includes ceiling fans and a heat pump. Parking is offered via a parking lot with off-street access, fenced for added control. Public sewer service is available.
This is a distinctive, larger-footprint site designed around private outdoor and recreation space for behavioral health use.
Key Highlights
- City licensed 10‑bed behavioral health center
- 0.89‑acre lot with 6 half bathrooms and 3 shower rooms
- Arranged for ADL or behavioral health rehabilitation with patio spaces, fountains, and circular pool
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
$98,281
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
5.48%
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%
$1,965,620
$2.0M
Cap Rate 7%
$1,404,014
$1.4M
Cap Rate 9%
$1,092,011
$1.1M
Market Conditions
NOI Build-Up for 6,894 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
$182.0K $26.40/SF
− Vacancy
−$18.2K −$2.64/SF
EGI
$163.8K $23.76/SF
− OpEx
−$65.5K −$9.50/SF
NOI
$98.3K $14.26/SF
Area
Phoenix, AZ
Vacancy
10.00%
Lease Rate
$26.40 /SF/Yr
Expense Ratio
40.00%
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%
$1,965,620
Cap Rate 7%
$1,404,014
Cap Rate 9%
$1,092,011
Alternative Uses
Best Use
Healthcare Medical
$1.40M
$1.23M – $1.64M
NOI $98,281 @ 7.0% cap · market cap 5.48%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.09M
$1.83M – $2.44M
NOI $146,178 @ 7.0% cap · market cap 8.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
759
Businesses Nearby
Explore this area
Business Placement
Demographics for 85021, AZ
40,943
Population
18,136
Households
2.3
Avg Household Size
35
Median Age
33%
College-Educated
87%
High-School Grad
6.9 sq mi
ZIP Area
5,934
Density / Sq Mi
$58,481
Median Household Income
$38,147
Median Earnings
$1,221
Median Rent
$433,000
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Rehabilitation center - City licensed 10-bed behavioral health center on a 0.89-acre lot with fenced off-street parking.
Where is this rehabilitation center located?
The property is located at 1522 W MYRTLE Avenue Phoenix, AZ.
What is the asking price?
The asking price for this property is $1,795,000.
What are key features of this property?
This property features: City licensed 10‑bed behavioral health center; 0.89‑acre lot with 6 half bathrooms and 3 shower rooms; Arranged for ADL or behavioral health rehabilitation with patio spaces, fountains, and circular pool
