Single-Story Senior Housing
For Sale
Contact for pricing
1707 E CITATION LN, Tempe, AZ 85284
Residential-style layout suited to senior care, assisted living, and related residential business uses.
Property Size4,048 SF
Lot Size0.89 Acres
Price / SF$395.26
Days on Market124
Property Features for 1707 E CITATION LN
General Information
Standard status
Active
Size
4,048 SF
Lot size
0.89 Acres
Property subtype
Senior Living, Business for Sale
Net Operating Income
$180,000
Financials
Asking Price
$1,600,000
Business Included
Yes
Building Details
Year Built
1977
Buildings
1
Stories
1
Units
1
Listing Agency:
EXP Realty
(480) 766-2973
Listed By:
Jake Crawford · License #SA646424000
Source:
Crexi
Added: Apr 28
Changed: Aug 29
Last Checked: Aug 29 at 2:58PM
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 EXP Realty
Investment Insights
Based on property information with market context.
This single-story senior housing property contains approximately 4,048 square feet on a 38,803-square-foot lot, or 0.887 acres. Built in 1977, the residential-style building offers a one-level configuration associated with senior care, assisted living, and related residential business uses.
The property is positioned near McClintock Drive in an established Tempe residential corridor, with access to surrounding amenities, schools, services, and major commuter routes. Its sizable parcel and existing neighborhood setting provide a substantial infill footprint for an operator or owner-user seeking a senior housing property.
The property is positioned near McClintock Drive in an established Tempe residential corridor, with access to surrounding amenities, schools, services, and major commuter routes. Its sizable parcel and existing neighborhood setting provide a substantial infill footprint for an operator or owner-user seeking a senior housing property.
Key Highlights
- Approximately 4,048 square feet on a 38,803 SF lot
- 0.887‑acre parcel in an established residential corridor
- Single‑story, residential‑style building
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
$54,865
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
3.43%
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%
$1,097,300
$1.1M
Cap Rate 7%
$783,786
$783.8K
Cap Rate 9%
$609,611
$609.6K
Market Conditions
NOI Build-Up for 4,048 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
$105.9K $26.16/SF
− Vacancy
−$6.1K −$1.52/SF
EGI
$99.8K $24.64/SF
− OpEx
−$44.9K −$11.09/SF
NOI
$54.9K $13.55/SF
Area
Tempe, AZ
Vacancy
5.80%
Lease Rate
$26.16 /SF/Yr
Expense Ratio
45.00%
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%
$1,097,300
Cap Rate 7%
$783,786
Cap Rate 9%
$609,611
Alternative Uses
Best Use
Apartment 5plus
$783.8K
$685.8K – $914.4K
NOI $54,865 @ 7.0% cap · market cap 3.43%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.27M
$1.11M – $1.49M
NOI $89,106 @ 7.0% cap · market cap 5.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
648
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 85284, AZ
18,638
Population
7,589
Households
2.5
Avg Household Size
45
Median Age
69%
College-Educated
98%
High-School Grad
7.8 sq mi
ZIP Area
2,389
Density / Sq Mi
$154,663
Median Household Income
$64,288
Median Earnings
$2,162
Median Rent
$646,300
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Senior housing / Retirement Home - Residential-style layout suited to senior care, assisted living, and related residential business uses.
Where is this senior housing / retirement home located?
The property is located at 1707 E CITATION LN Tempe, AZ.
What is the asking price?
The asking price for this property is $1,600,000.
What are key features of this property?
This property features: Approximately 4,048 square feet on a 38,803 SF lot; 0.887‑acre parcel in an established residential corridor; Single‑story, residential‑style building
