One-Story Medical Office
For Sale
Contact for pricing
20045 N 19th Avenue Building 10 H, Phoenix, AZ 85027
Located in a healthcare and professional office project with C-2 and C-0 zoning.
Property Size7,593 SF
Price / SF$330.04
Days on Market256
Property Features for 20045 N 19th Avenue Building 10 H
General Information
Standard status
Active
Size
7,593 SF
Class
B
Property subtype
Office
Zoning
C-2, C-0
Investment Type
Owner/User
Building Details
Year Built
2008
Buildings
1
Stories
1
Tenancy
Multi
Listing Agency:
DOCPROPERTIES
Listed By:
Trisha Talbot · License #AZ BR533137000
Source:
Crexi
Added: Dec 20, 2025
Changed: Aug 30
Last Checked: Sep 1 at 11:19AM
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 DOCPROPERTIES
Investment Insights
Based on property information with market context.
This one-story office condominium contains 7,593 square feet and was built in 2008. The space provides second-generation medical office improvements and was most recently used for pain management services. It is currently arranged for multiple tenants, with an existing tenant arrangement expiring 1/31/2027. The property can also be occupied by a single tenant seeking to use the full building.
The condominium is part of a project with other healthcare and professional office properties. HonorHealth Deer Valley Medical Center is located 1.5 miles west. The property is identified as Building 10(H) at 20045 N 19th Avenue in Phoenix, Arizona 85027, with C-2 and C-0 zoning.
The condominium is part of a project with other healthcare and professional office properties. HonorHealth Deer Valley Medical Center is located 1.5 miles west. The property is identified as Building 10(H) at 20045 N 19th Avenue in Phoenix, Arizona 85027, with C-2 and C-0 zoning.
Key Highlights
- 7,593‑square‑foot one‑story medical office condominium
- Built in 2008 with second‑generation medical office improvements
- Most recently used as a pain management medical office
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
$129,982
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
5.19%
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%
$2,599,640
$2.6M
Cap Rate 7%
$1,856,886
$1.9M
Cap Rate 9%
$1,444,244
$1.4M
Market Conditions
NOI Build-Up for 7,593 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
$233.3K $30.72/SF
− Vacancy
−$59.9K −$7.90/SF
EGI
$173.3K $22.82/SF
− OpEx
−$43.3K −$5.71/SF
NOI
$130.0K $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%
$2,599,640
Cap Rate 7%
$1,856,886
Cap Rate 9%
$1,444,244
Alternative Uses
Best Use
Office B
$1.86M
$1.62M – $2.17M
NOI $129,982 @ 7.0% cap · market cap 5.19%
Second Best
Healthcare Medical
$1.55M
$1.35M – $1.80M
NOI $108,246 @ 7.0% cap · market cap 4.32%
Theoretical Best
Office A
$2.30M
$2.01M – $2.68M
NOI $160,999 @ 7.0% cap · market cap 6.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
24
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 85027, AZ
38,343
Population
17,458
Households
2.2
Avg Household Size
36
Median Age
29%
College-Educated
92%
High-School Grad
11.7 sq mi
ZIP Area
3,277
Density / Sq Mi
$73,255
Median Household Income
$46,338
Median Earnings
$1,488
Median Rent
$316,100
Median Home Value
Market
Vacancy Rate% for Office in Phoenix, AZ
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Medical Office Space - Located in a healthcare and professional office project with C-2 and C-0 zoning.
Where is this medical office space located?
The property is located at 20045 N 19th Avenue Building 10 H Phoenix, AZ.
What is the asking price?
The asking price for this property is $2,506,000.
What are key features of this property?
This property features: 7,593‑square‑foot one‑story medical office condominium; Built in 2008 with second‑generation medical office improvements; Most recently used as a pain management medical office
