Leased Medical Office
For Sale
Contact for pricing
2145 E Baseline Rd, Tempe, AZ 85283
Single-tenant medical office property is leased to NextCare through August 31, 2033, with landlord responsible for roof only.
Property Size46,928 SF
Lot Size4.61 Acres
Price / SF$371.95
Days on Market108
Property Features for 2145 E Baseline Rd
General Information
Standard status
Active
Size
46,928 SF
Lot size
4.61 Acres
Property subtype
OFFICE
Occupancy
100%
Building Details
Tenancy
Single
Listing Agency:
Menlo Group Commercial Real Estate
(480) 236-9511
Listed By:
Stuart Milne · License #BR581000000
(480) 236-9511
Source:
Moodyscre
Added: Apr 14
Changed: Jul 25
Last Checked: Jul 25 at 5:43PM
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 Menlo Group Commercial Real Estate
Investment Insights
Based on property information with market context.
This updated, single-tenant medical office building is leased to NextCare through August 31, 2033. The property totals 46,928 square feet, including approximately 3,000 square feet of urgent care and administrative offices. The lease is structured as a double net arrangement, with the tenant responsible for operating expenses such as utilities, HVAC, and repairs, while the landlord is responsible only for the roof, which is new and under warranty.
The site comprises 4.61 acres. The offering includes a corporate guaranty by NextCare Inc. Annual cell tower income is reported at $11,595.72 with T-Mobile West LLC.
Lease economics include a five-year step-up beginning at $21.50/PSF through August 31, 2026, and $23.50/PSF thereafter. There are two five-year renewal options with 2% annual increases, and reported tenant improvements are approximately $4.0 million, including a $2.0 million improvement allowance.
The site comprises 4.61 acres. The offering includes a corporate guaranty by NextCare Inc. Annual cell tower income is reported at $11,595.72 with T-Mobile West LLC.
Lease economics include a five-year step-up beginning at $21.50/PSF through August 31, 2026, and $23.50/PSF thereafter. There are two five-year renewal options with 2% annual increases, and reported tenant improvements are approximately $4.0 million, including a $2.0 million improvement allowance.
Key Highlights
- 100% leased to NextCare through August 31, 2033 with corporate guaranty by NextCare Inc.
- 46,928 SF updated medical office, including approx. 3,000 SF urgent care and administrative offices.
- Double net lease: tenant pays operating expenses (utilities, HVAC, repairs); landlord responsible only for roof (new and under warranty).
Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $1.42M | $30.36 |
| − Vacancy | −$306.3k | −$6.53 |
| EGI | $1.12M | $23.83 |
| − OpEx | −$279.6k | −$5.96 |
| NOI | $838.8k | $17.87 |
46,928 SF · lease $30.36/SF/yr · vacancy 21.50% · expense 25.00%
Alternative Uses
Best Use
Office B
$11.98M
$10.49M – $13.98M
NOI $838,812 @ 7.0% cap · market cap 4.81%
Second Best
Healthcare Medical
$10.10M
$8.84M – $11.78M
NOI $707,017 @ 7.0% cap · market cap 4.05%
Theoretical Best
Office A
$14.76M
$12.91M – $17.22M
NOI $1,032,999 @ 7.0% cap · market cap 5.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
100%
Occupancy
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
616
Businesses Nearby
Explore this area
Business Placement
Demographics for 85283, AZ
45,736
Population
20,620
Households
2.2
Avg Household Size
35
Median Age
44%
College-Educated
93%
High-School Grad
8.8 sq mi
ZIP Area
5,197
Density / Sq Mi
$81,073
Median Household Income
$47,213
Median Earnings
$1,669
Median Rent
$409,800
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Medical center - Single-tenant medical office property is leased to NextCare through August 31, 2033, with landlord responsible for roof only.
Where is this medical center located?
The property is located at 2145 E Baseline Rd Tempe, AZ.
What is the asking price?
The asking price for this property is $17,455,034.
What are key features of this property?
This property features: 100% leased to NextCare through August 31, 2033 with corporate guaranty by NextCare Inc.; 46,928 SF updated medical office, including approx. 3,000 SF urgent care and administrative offices.; Double net lease: tenant pays operating expenses (utilities, HVAC, repairs); landlord responsible only for roof (new and under warranty).
