Medical Office Building with Pad
For Sale
$1,999,000
1590 Paseo San Luis, Sierra Vista, AZ 85635
Well-maintained medical office building with long-term lease and city-approved pad sites with on-parcel parking.
Property Size6,500 SF
Price / SF$307.54
Days on Market243
Property Features for 1590 Paseo San Luis
General Information
Standard status
Active
Size
6,500 SF
Property subtype
Commercial/Industrial
Taxes and HOA fees
Annual Taxes
$16,067
Building Details
Year Built
2010
Listing Agency:
Long Realty Company
(520) 220-7656
Listed By:
Michelle Hagele · License #SA666351000
(520) 220-7656
Source:
Exitrealty
Added: Dec 8, 2025
Changed: Aug 8
Last Checked: Aug 8 at 5:47AM
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 Long Realty Company
Investment Insights
Based on property information with market context.
This well-maintained medical office building is offered for sale secured by a long-term lease. The property includes multi-level building allowance, giving additional development flexibility beyond the existing facility. Two city-approved pad sites are included, each with parking provided on the parcel.
The building is located at 1590 Paseo San Luis in Sierra Vista, AZ 85635, offering an on-site footprint designed for medical office use. Financial details are available for qualified parties under a signed NDA.
For buyers seeking a stable, leased medical office asset with development optionality, the combination of a long-term lease and two approved pad sites can support a range of ownership strategies. The on-parcel parking for the pad sites also provides a practical path for future site improvements while maintaining the existing income profile associated with the current tenancy.
The building is located at 1590 Paseo San Luis in Sierra Vista, AZ 85635, offering an on-site footprint designed for medical office use. Financial details are available for qualified parties under a signed NDA.
For buyers seeking a stable, leased medical office asset with development optionality, the combination of a long-term lease and two approved pad sites can support a range of ownership strategies. The on-parcel parking for the pad sites also provides a practical path for future site improvements while maintaining the existing income profile associated with the current tenancy.
Key Highlights
- Well‑maintained medical office building built in 2010
- Secured by a long‑term lease
- Two city‑approved pad sites with on‑parcel parking
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
$60,735
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
3.04%
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%
$1,214,700
$1.2M
Cap Rate 7%
$867,643
$867.6K
Cap Rate 9%
$674,833
$674.8K
Market Conditions
NOI Build-Up for 6,500 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
$113.1K $17.40/SF
− Vacancy
−$11.9K −$1.83/SF
EGI
$101.2K $15.57/SF
− OpEx
−$40.5K −$6.23/SF
NOI
$60.7K $9.34/SF
Area
Cochise County, AZ
Vacancy
10.50%
Lease Rate
$17.40 /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%
$1,214,700
Cap Rate 7%
$867,643
Cap Rate 9%
$674,833
Alternative Uses
Best Use
Healthcare Medical
$867.6K
$759.2K – $1.01M
NOI $60,735 @ 7.0% cap · market cap 3.04%
Second Best
Office B
$709.8K
$621.1K – $828.1K
NOI $49,687 @ 7.0% cap · market cap 2.49%
Theoretical Best
Specialty Retail
$963.2K
$842.8K – $1.12M
NOI $67,421 @ 7.0% cap · market cap 3.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
566
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 85635, AZ
35,095
Population
17,138
Households
2
Avg Household Size
41
Median Age
31%
College-Educated
92%
High-School Grad
68.1 sq mi
ZIP Area
515
Density / Sq Mi
$60,822
Median Household Income
$42,247
Median Earnings
$985
Median Rent
$218,100
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Jackson Veterinary Services — 2145 AZ-92, Sierra Vista, AZ 85635
- New Frontier Animal Medical Center — 2045 Paseo San Luis, Sierra Vista, AZ 85635
- Prevatt William DVM — 2045 Paseo San Luis, Sierra Vista, AZ 85635
- New Frontier Animal Med Center: Weston Maggie DVM — 2045 Paseo San Luis, Sierra Vista, AZ 85635
- New Frontier Animal Med Center: Aycock Paula DVM — 2045 Paseo San Luis, Sierra Vista, AZ 85635
Frequently Asked Questions
What type of property is this?
Medical Office Space - Well-maintained medical office building with long-term lease and city-approved pad sites with on-parcel parking.
Where is this medical office space located?
The property is located at 1590 Paseo San Luis Sierra Vista, AZ.
What is the asking price?
The asking price for this property is $1,999,000.
What are key features of this property?
This property features: Well‑maintained medical office building built in 2010; Secured by a long‑term lease; Two city‑approved pad sites with on‑parcel parking
