Medical Office Space with
New
For Sale
Contact for pricing
15396 N 83rd Ave, Peoria, AZ 85382
Flexible medical or general office building with on-site pull-up parking and prominent signage potential.
Property Size4,676 SF
Price / SF$385
Days on Market5
Property Features for 15396 N 83rd Ave
General Information
Standard status
Active
Size
4,676 SF
Property subtype
OFFICE
Additional Details
Highway Access
Yes
Building Details
Buildings
1
Listing Agency:
Lee & Associates | Phoenix
(602) 474-9503
Listed By:
Carter Gerardo
(602) 478-4600
Source:
Moodyscre
Added: Aug 7
Changed: Aug 9
Last Checked: Aug 10 at 9:59AM
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 Lee & Associates | Phoenix
Investment Insights
Based on property information with market context.
This 4,676-square-foot medical office property is configured for medical or general office use. The building offers an opportunity for on-site signage and is supported by pull-up parking throughout the property, providing convenient access for occupants and visitors.
Access to Loop 101 is available from both Bell Road and Thunderbird Road exits. Restaurants, shopping, and entertainment venues are located nearby, adding convenience for employees and visitors. The property’s size and office-oriented layout support an owner-user occupancy strategy for a medical or general office operation.
Access to Loop 101 is available from both Bell Road and Thunderbird Road exits. Restaurants, shopping, and entertainment venues are located nearby, adding convenience for employees and visitors. The property’s size and office-oriented layout support an owner-user occupancy strategy for a medical or general office operation.
Key Highlights
- 4,676 SF medical office property
- Suitable for medical or general office use
- Building signage opportunity
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
$70,165
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
3.90%
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%
$1,403,300
$1.4M
Cap Rate 7%
$1,002,357
$1.0M
Cap Rate 9%
$779,611
$779.6K
Market Conditions
NOI Build-Up for 4,676 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
$109.4K $23.40/SF
− Vacancy
−$15.9K −$3.39/SF
EGI
$93.6K $20.01/SF
− OpEx
−$23.4K −$5.00/SF
NOI
$70.2K $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%
$1,403,300
Cap Rate 7%
$1,002,357
Cap Rate 9%
$779,611
Alternative Uses
Best Use
Office B
$1.00M
$877.1K – $1.17M
NOI $70,165 @ 7.0% cap · market cap 3.90%
Second Best
Healthcare Medical
$914.1K
$799.8K – $1.07M
NOI $63,985 @ 7.0% cap · market cap 3.55%
Theoretical Best
Office A
$1.15M
$1.01M – $1.34M
NOI $80,588 @ 7.0% cap · market cap 4.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
292
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 85382, AZ
42,576
Population
19,796
Households
2.2
Avg Household Size
45
Median Age
38%
College-Educated
93%
High-School Grad
9.9 sq mi
ZIP Area
4,301
Density / Sq Mi
$93,387
Median Household Income
$53,864
Median Earnings
$1,875
Median Rent
$408,000
Median Home Value
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 - Flexible medical or general office building with on-site pull-up parking and prominent signage potential.
Where is this medical office space located?
The property is located at 15396 N 83rd Ave Peoria, AZ.
What is the asking price?
The asking price for this property is $1,800,260.
What are key features of this property?
This property features: 4,676 SF medical office property; Suitable for medical or general office use; Building signage opportunity
