Freestanding Medical Office
For Sale
Contact for pricing
201 East Osborn Road, Phoenix, AZ 85012
Located near historic neighborhoods in Phoenix’s Midtown submarket, the property provides a freestanding medical office setting.
Property Size2,301 SF
Price / SF$352.02
Days on Market125
Property Features for 201 East Osborn Road
General Information
Standard status
Active
Size
2,301 SF
Class
C
Property subtype
Office
Zoning
R-5
Investment Type
Owner/User
Building Details
Year Built
1958
Year Renovated
2010
Buildings
1
Units
6
Listing Agency:
Kidder Mathews
(602) 513-5123
Listed By:
Zack Harris · License #SA709469000
Source:
Crexi
Added: Apr 28
Changed: Aug 30
Last Checked: Aug 30 at 8:02PM
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 Kidder Mathews
Investment Insights
Based on property information with market context.
This freestanding medical office property contains 2,301 SF and was constructed in 1958. Its standalone format distinguishes it from larger medical office complexes and provides a dedicated setting for professional use.
The property is located at 201 East Osborn Road in Phoenix, Arizona 85012, within the Midtown submarket and near historic neighborhoods. R-5 zoning is identified for the site.
The property is located at 201 East Osborn Road in Phoenix, Arizona 85012, within the Midtown submarket and near historic neighborhoods. R-5 zoning is identified for the site.
Key Highlights
- 2,301 SF freestanding medical office property
- Located in Phoenix’s Midtown submarket
- Near historic neighborhoods
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
$39,390
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
4.86%
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%
$787,800
$787.8K
Cap Rate 7%
$562,714
$562.7K
Cap Rate 9%
$437,667
$437.7K
Market Conditions
NOI Build-Up for 2,301 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
$70.7K $30.72/SF
− Vacancy
−$18.2K −$7.90/SF
EGI
$52.5K $22.82/SF
− OpEx
−$13.1K −$5.71/SF
NOI
$39.4K $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%
$787,800
Cap Rate 7%
$562,714
Cap Rate 9%
$437,667
Alternative Uses
Best Use
Office B
$562.7K
$492.4K – $656.5K
NOI $39,390 @ 7.0% cap · market cap 4.86%
Second Best
Healthcare Medical
$468.6K
$410.0K – $546.7K
NOI $32,803 @ 7.0% cap · market cap 4.05%
Theoretical Best
Office A
$697.0K
$609.9K – $813.2K
NOI $48,789 @ 7.0% cap · market cap 6.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
5,967
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 85012, AZ
8,201
Population
5,269
Households
1.6
Avg Household Size
39
Median Age
60%
College-Educated
95%
High-School Grad
2.3 sq mi
ZIP Area
3,566
Density / Sq Mi
$80,242
Median Household Income
$57,228
Median Earnings
$1,693
Median Rent
$701,200
Median Home Value
Market
Vacancy Rate% for Office in Phoenix, AZ
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Located near historic neighborhoods in Phoenix’s Midtown submarket, the property provides a freestanding medical office setting.
Where is this medical office space located?
The property is located at 201 East Osborn Road Phoenix, AZ.
What is the asking price?
The asking price for this property is $810,000.
What are key features of this property?
This property features: 2,301 SF freestanding medical office property; Located in Phoenix’s Midtown submarket; Near historic neighborhoods
