Medical Office with Surgical
2155 E Conference Dr, Tempe, AZ 85284
For Sale
Contact for pricing
Two connected, single-story buildings provide a shared lobby, conference space, and facilities configured for multiple medical practices.
Property Size35,087 SF
Lot Size4.16 Acres
Price / SF$198.08
Days on Market12
Property Features for 2155 E Conference Dr
General Information
Standard status
Size
Total Parking Spaces
Lot size
Property subtype
Additional Details
Property Use
Amenities
shared lobby
conference facility
Building Details
Year Built
Buildings
Stories
Building Size
Tenancy
Parking Ratio
Listing Agency:
Kidder Mathews
Listed By:
Nathan Thinnes · License #SA530037000
(602) 550-5671
Source:
Crexi
Added: Oct 29
Changed: Nov 8
Last Checked: Nov 8 at 6:02PM
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
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Investment Insights
Based on property information with market context.
The property comprises two adjoining, single-story medical buildings totaling approximately 35,087 square feet. Constructed in 2005 on a 4.16-acre corner parcel, the improvements include about 6,451 square feet of surgical buildout, along with a shared lobby and conference facility. The layout was purpose-built to accommodate multiple medical practices, and the site has 132 surface and covered parking spaces.
At 2155 E Conference Drive in Tempe, the property is situated within Arizona State University's 320-acre ASU Research Park. The offering is the leasehold interest in the improvements, subject to an absolute-net ground sublease running through December 31, 2101, with approximately 76 years remaining.
At 2155 E Conference Drive in Tempe, the property is situated within Arizona State University's 320-acre ASU Research Park. The offering is the leasehold interest in the improvements, subject to an absolute-net ground sublease running through December 31, 2101, with approximately 76 years remaining.
Key Highlights
- Approximately 35,087 square feet across two adjoining, single‑story buildings
- 6,451 square feet of surgical buildout
- 132 surface and covered parking spaces
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$627,161
Cap Rate
9.02%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$12,543,220
$12.5M
Cap Rate 7%
$8,959,443
$9.0M
Cap Rate 9%
$6,968,456
$7.0M
Market Conditions
NOI Build-Up for 35,087 SF
Gross rent
$1.07M $30.36/SF
− Vacancy
−$229.0K −$6.53/SF
EGI
$836.2K $23.83/SF
− OpEx
−$209.1K −$5.96/SF
NOI
$627.2K $17.87/SF
Area
Tempe, AZ
Vacancy
21.50%
Lease Rate
$30.36 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$12,543,220
Cap Rate 7%
$8,959,443
Cap Rate 9%
$6,968,456
Alternative Uses
Best Use
Office B
$8.96M
$7.84M – $10.45M
NOI $627,161 @ 7.0% cap · market cap 9.02%
Second Best
Healthcare Medical
$7.55M
$6.61M – $8.81M
NOI $528,621 @ 7.0% cap · market cap 7.61%
Theoretical Best
Office A
$11.03M
$9.65M – $12.87M
NOI $772,350 @ 7.0% cap · market cap 11.11%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
590
Businesses Nearby
Under-served
Demand for This Use
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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
$646,300
Median Home Value
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Market
Average Price Trend$/SF for Medical Office Space in Maricopa County, AZ
Properties on Market for Medical Office Space in Maricopa County
Vacancy Rate% for Office in West region
Frequently Asked Questions
What type of property is this?
Medical Office Space - Two connected, single-story buildings provide a shared lobby, conference space, and facilities configured for multiple medical practices.
Where is this medical office space located?
The property is located at 2155 E Conference Dr Tempe, AZ.
What is the asking price?
The asking price for this property is $6,950,000.
What are key features of this property?
This property features: Approximately 35,087 square feet across two adjoining, single‑story buildings; 6,451 square feet of surgical buildout; 132 surface and covered parking spaces
