Medical Office NNN
For Sale
Contact for pricing
20266 N Lake Pleasant Road, Peoria, AZ 85382
Absolute NNN-leased medical property with hard-corner positioning and daily exposure to 41,000+ vehicles, per remarks.
Property Size15,048 SF
Price / SF$267.96
Days on Market53
Property Features for 20266 N Lake Pleasant Road
General Information
Standard status
Active
Size
15,048 SF
Class
A
Property subtype
Retail
Occupancy
100%
Lease Type
Absolute Net
Investment Type
Net Lease
Net Operating Income
$262,097
Building Details
Year Built
1999
Buildings
1
Stories
1
Units
1
Tenancy
Single
Listing Agency:
Bang Realty
Listed By:
Brian Brockman · License #BR691523000
(888) 737-2264
Source:
Crexi
Added: Jul 22
Changed: Sep 12
Last Checked: Sep 12 at 7:28AM
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 Bang Realty
Investment Insights
Based on property information with market context.
This sale offering presents a rare village medical location operated under an absolute NNN lease. The first option period has been exercised with no rental concessions, supporting a contractual structure designed for durable landlord cash flow. The property is described in the materials as having hard-corner positioning and strong daily exposure, with marketing noting traffic counts of 41,000+ vehicles.
The site is positioned near national retail and major employment activity, including Walmart Supercenter within 1 mile (as stated), and proximity to Banner Boswell Medical Center in Sun City (525 beds and 1,200+ employees per the remarks). The materials also cite nearby economic momentum tied to the Peoria Innovation Core and a $7B Amkor Semiconductor campus with 3,000 new jobs.
From a leasing and ownership standpoint, this is presented as a specialty medical investment with an absolute NNN framework and an emphasis on visibility and surrounding demand drivers referenced in the provided information.
The site is positioned near national retail and major employment activity, including Walmart Supercenter within 1 mile (as stated), and proximity to Banner Boswell Medical Center in Sun City (525 beds and 1,200+ employees per the remarks). The materials also cite nearby economic momentum tied to the Peoria Innovation Core and a $7B Amkor Semiconductor campus with 3,000 new jobs.
From a leasing and ownership standpoint, this is presented as a specialty medical investment with an absolute NNN framework and an emphasis on visibility and surrounding demand drivers referenced in the provided information.
Key Highlights
- Built in 1999
- Absolute NNN‑leased medical property
- Hard‑corner positioning on a 2+ acre parcel
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
$205,911
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
5.11%
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%
$4,118,220
$4.1M
Cap Rate 7%
$2,941,586
$2.9M
Cap Rate 9%
$2,287,900
$2.3M
Market Conditions
NOI Build-Up for 15,048 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
$379.2K $25.20/SF
− Vacancy
−$36.0K −$2.39/SF
EGI
$343.2K $22.81/SF
− OpEx
−$137.3K −$9.12/SF
NOI
$205.9K $13.68/SF
Area
Peoria, AZ
Vacancy
9.50%
Lease Rate
$25.20 /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%
$4,118,220
Cap Rate 7%
$2,941,586
Cap Rate 9%
$2,287,900
Alternative Uses
Best Use
Healthcare Medical
$2.94M
$2.57M – $3.43M
NOI $205,911 @ 7.0% cap · market cap 5.11%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.70M
$3.24M – $4.32M
NOI $259,343 @ 7.0% cap · market cap 6.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
317
Businesses Nearby
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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 center - Absolute NNN-leased medical property with hard-corner positioning and daily exposure to 41,000+ vehicles, per remarks.
Where is this medical center located?
The property is located at 20266 N Lake Pleasant Road Peoria, AZ.
What is the asking price?
The asking price for this property is $4,032,262.
What are key features of this property?
This property features: Built in 1999; Absolute NNN‑leased medical property; Hard‑corner positioning on a 2+ acre parcel
