Medical Office Suite with Clinic
For Sale
Contact for pricing
15255n South 40th Street, Phoenix, AZ 85044
Configured outpatient space with treatment rooms, a classroom, patient-flow separation, and a built-in kitchen.
Property Size1,576 SF
Price / SF$326.78
Days on Market63
Property Features for 15255n South 40th Street
General Information
Standard status
Active
Size
1,576 SF
Class
A
Property subtype
Retail, Office, Special Purpose
Zoning
Commerical Retail C-1
Lease Type
NNN
Investment Type
Owner/User
Amenities
comfortable lobby
built in kitchen
two separate entries
Building Details
Year Built
2005
Year Renovated
2025
Buildings
1
Units
1
Listing Agency:
Prestige Realty
(623) 866-8784
Listed By:
Daniel Robescu · License #SA570484000
Source:
Crexi
Added: Jun 29
Changed: Aug 30
Last Checked: Aug 30 at 11:18AM
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 Prestige Realty
Investment Insights
Based on property information with market context.
This 1,576-square-foot medical office suite was built in 2005 and is configured for behavioral health outpatient services. The layout includes individual rooms, group meeting areas, a counseling room, and a large classroom. A testing-ready restroom, comfortable reception lobby, built-in kitchen, and two separate entrances support distinct patient and staff circulation.
The property is located at 15255n South 40th Street, Phoenix, AZ 85044. Zoning is identified as Commerical Retail C-1. The existing improvements provide a specialized clinical configuration within a finished office setting.
The property is located at 15255n South 40th Street, Phoenix, AZ 85044. Zoning is identified as Commerical Retail C-1. The existing improvements provide a specialized clinical configuration within a finished office setting.
Key Highlights
- 1,576 SF medical office suite built in 2005
- Configured for behavioral health outpatient services
- Individual rooms, group areas, counseling room, and large classroom
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
$26,979
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
5.24%
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%
$539,580
$539.6K
Cap Rate 7%
$385,414
$385.4K
Cap Rate 9%
$299,767
$299.8K
Market Conditions
NOI Build-Up for 1,576 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
$48.4K $30.72/SF
− Vacancy
−$12.4K −$7.90/SF
EGI
$36.0K $22.82/SF
− OpEx
−$9.0K −$5.71/SF
NOI
$27.0K $17.12/SF
Area
Phoenix, AZ
Vacancy
25.70%
Lease Rate
$30.72 /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%
$539,580
Cap Rate 7%
$385,414
Cap Rate 9%
$299,767
Alternative Uses
Best Use
Office B
$385.4K
$337.2K – $449.7K
NOI $26,979 @ 7.0% cap · market cap 5.24%
Second Best
Healthcare Medical
$321.0K
$280.8K – $374.5K
NOI $22,467 @ 7.0% cap · market cap 4.36%
Theoretical Best
Office A
$477.4K
$417.7K – $557.0K
NOI $33,417 @ 7.0% cap · market cap 6.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
451
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 85044, AZ
39,559
Population
18,817
Households
2.1
Avg Household Size
41
Median Age
50%
College-Educated
97%
High-School Grad
16.5 sq mi
ZIP Area
2,398
Density / Sq Mi
$96,374
Median Household Income
$58,220
Median Earnings
$1,798
Median Rent
$437,400
Median Home Value
Market
Vacancy Rate% for Office in Phoenix, AZ
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Configured outpatient space with treatment rooms, a classroom, patient-flow separation, and a built-in kitchen.
Where is this medical office space located?
The property is located at 15255n South 40th Street Phoenix, AZ.
What is the asking price?
The asking price for this property is $515,000.
What are key features of this property?
This property features: 1,576 SF medical office suite built in 2005; Configured for behavioral health outpatient services; Individual rooms, group areas, counseling room, and large classroom
