Assisted Living Facility
For Sale
$599,950
22222 W Gardenia Drive, Buckeye, AZ 85326
Property zoned for assisted living, prime location, excellent opportunity.
Property Size2,500 SF
Price / SF$239.98
Days on Market98
Property Features for 22222 W Gardenia Drive
General Information
Standard status
Active
Size
2,500 SF
Property subtype
Business Opportunity
Building Details
Building Size
2,500 SF
Listing Agency:
Delex Realty
(602) 400-6031
Listed By:
Octavian Curpas · License #SA565521000
(602) 400-6031
Source:
Aznewhorizonrealty
Added: May 19
Changed: Aug 23
Last Checked: Aug 23 at 6:58AM
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 Delex Realty
Investment Insights
Based on property information with market context.
This property is zoned for assisted living home use and was previously licensed as an assisted living facility. It presents an opportunity for group homes, assisted living, behavioral health facilities, or foster care operations. The property includes 6 bedrooms, featuring 2 primary suites, and 3.5 bathrooms, including one ADA-compliant bathroom with a walk-in shower. The kitchen is equipped with granite countertops, a backsplash, and stainless steel appliances. The property is located near Watson Road and the upcoming Vestar Mall at Verrado, in proximity to the Sundance Adult Village 55+ neighborhood. The property size is 2500 square feet.
Key Highlights
- Zoned and previously licensed for assisted living, ideal for various care facilities.
- Prime location near Watson Road and the future Vestar Mall at Verrado.
- Six spacious bedrooms, including two primary suites.
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
$28,215
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
4.70%
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%
$564,300
$564.3K
Cap Rate 7%
$403,071
$403.1K
Cap Rate 9%
$313,500
$313.5K
Market Conditions
NOI Build-Up for 2,500 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
$54.0K $21.60/SF
− Vacancy
−$2.7K −$1.08/SF
EGI
$51.3K $20.52/SF
− OpEx
−$23.1K −$9.23/SF
NOI
$28.2K $11.29/SF
Area
Maricopa County, AZ
Vacancy
5.00%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
45.00%
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%
$564,300
Cap Rate 7%
$403,071
Cap Rate 9%
$313,500
Alternative Uses
Best Use
Apartment 5plus
$403.1K
$352.7K – $470.3K
NOI $28,215 @ 7.0% cap · market cap 4.70%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$773.3K
$676.7K – $902.2K
NOI $54,132 @ 7.0% cap · market cap 9.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
41
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 85326, AZ
72,959
Population
22,417
Households
3.3
Avg Household Size
33
Median Age
17%
College-Educated
86%
High-School Grad
483.0 sq mi
ZIP Area
151
Density / Sq Mi
$91,444
Median Household Income
$45,241
Median Earnings
$1,635
Median Rent
$342,400
Median Home Value
Questions? Ask Rey
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Similar Off Market Nearby
- Bloom Assisted Living — 695 s 221st dr, buckeye, az 85326
Frequently Asked Questions
What type of property is this?
Assisted living facility - Property zoned for assisted living, prime location, excellent opportunity.
Where is this assisted living facility located?
The property is located at 22222 W Gardenia Drive Buckeye, AZ.
What is the asking price?
The asking price for this property is $599,950.
What are key features of this property?
This property features: Zoned and previously licensed for assisted living, ideal for various care facilities.; Prime location near Watson Road and the future Vestar Mall at Verrado.; Six spacious bedrooms, including two primary suites.
