Building Details

Buildings 1

Listing Agency: Lee & Associates | Phoenix Show Phone

Listed By: Colton Trauter Show Phone

Source: Moodyscre

Added: Aug 7 Changed: Sep 7 Last Checked: Oct 5 at 8:18PM

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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.

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 / Yr

$70,165

Cap Rate

3.90%

Suggested Prices Based on Cap Rates

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

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 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 (±1% cap)

NOI $70,165 @ 7.0% cap · market cap 3.90%

Second Best

Healthcare Medical

$914.1K

$799.8K – $1.07M (±1% cap)

NOI $63,985 @ 7.0% cap · market cap 3.55%

Theoretical Best

Office A

$1.15M

$1.01M – $1.34M (±1% cap)

NOI $80,588 @ 7.0% cap · market cap 4.48%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Jana's Skin Clinic Medical Clinic Del Soul Counseling, ... Physician Pinnacle Womens Center Physician Desiree Brotsky, DO Physician National Insurance Agency, ... Insurance Agency

Suggested Use

Top Pick Building Supply Big Box & Wholesale Store Spa & Massage Center Pharmacy Auto Parts Store Nail Salon

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

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

11% 2019

14.1% 2020

15.5% 2021

17.2% 2022

19.9% 2023

21% 2024

20.8% 2025

Questions? Ask Rey

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What type of property is this? Where is this medical office space located? What is the asking price? Find similar properties What are key features of this property?

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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