10-Bedroom Assisted Living
New
For Sale
$1,350,000
26808 N 24th Ave, Phoenix, AZ 85085
Currently leased through March 2029 with tenant-paid utilities and property maintenance.
Property Size3,540 SF
Price / SF$381.36
Days on Market4
Property Features for 26808 N 24th Ave
General Information
Standard status
Active
Size
3,540 SF
Property subtype
Commercial
Financials
Asking Price
$1,350,000
Cap Rate
7.56%
Gross Income
$102,000
Building Details
Tenancy
Single
Listing Agency:
Gile Commercial Real Estate
Listed By:
Luis Espinoza · License #SA663217000
(602) 373-9729
Source:
Findyourphoenixazhome
Added: Aug 30
Changed: Sep 1
Last Checked: Sep 2 at 6:44PM
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 Gile Commercial Real Estate
Investment Insights
Based on property information with market context.
This 3,540-square-foot assisted living facility at 26808 N 24TH Avenue in Phoenix includes 10 full bedrooms and 5 full bathrooms. The property is configured for residential assisted living use and is currently leased through March 2029.
The lease provides for tenant responsibility for all utilities and property maintenance. The property is occupied by an established residential assisted living operator, and the reported cap rate is approximately 7.56% before owner-paid expenses. Buyer verification of licensing, zoning, lease terms, and financial information is required.
The lease provides for tenant responsibility for all utilities and property maintenance. The property is occupied by an established residential assisted living operator, and the reported cap rate is approximately 7.56% before owner-paid expenses. Buyer verification of licensing, zoning, lease terms, and financial information is required.
Key Highlights
- 10 full bedrooms and 5 full bathrooms
- 3,540‑square‑foot assisted living facility
- Lease in place through March 2029
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
$41,289
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
3.06%
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%
$825,780
$825.8K
Cap Rate 7%
$589,843
$589.8K
Cap Rate 9%
$458,767
$458.8K
Market Conditions
NOI Build-Up for 3,540 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
$79.9K $22.56/SF
− Vacancy
−$4.8K −$1.35/SF
EGI
$75.1K $21.21/SF
− OpEx
−$33.8K −$9.54/SF
NOI
$41.3K $11.66/SF
Area
Phoenix, AZ
Vacancy
6.00%
Lease Rate
$22.56 /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%
$825,780
Cap Rate 7%
$589,843
Cap Rate 9%
$458,767
Alternative Uses
Best Use
Apartment 5plus
$589.8K
$516.1K – $688.2K
NOI $41,289 @ 7.0% cap · market cap 3.06%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.07M
$938.3K – $1.25M
NOI $75,061 @ 7.0% cap · market cap 5.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
109
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 85085, AZ
27,875
Population
12,737
Households
2.2
Avg Household Size
36
Median Age
51%
College-Educated
97%
High-School Grad
38.1 sq mi
ZIP Area
732
Density / Sq Mi
$122,138
Median Household Income
$70,162
Median Earnings
$1,818
Median Rent
$589,000
Median Home Value
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Azalea Blooms Assisted Living — 26808 N 24th Ave, Phoenix, AZ 85085
- Blaylock Senior Care — 2254 W Blaylock Dr, Phoenix, AZ 85085
- Heritage Assisted Living at Northerra — 2330 W Quail Track Dr, Phoenix, AZ 85085
- AZ Interact LLC — 2325 W Desperado Way, Phoenix, AZ 85085
- Oasis At Norterra — 2412 W Fetlock Trail, Phoenix, AZ 85085
Frequently Asked Questions
What type of property is this?
Assisted living facility - Currently leased through March 2029 with tenant-paid utilities and property maintenance.
Where is this assisted living facility located?
The property is located at 26808 N 24th Ave Phoenix, AZ.
What is the asking price?
The asking price for this property is $1,350,000.
What are key features of this property?
This property features: 10 full bedrooms and 5 full bathrooms; 3,540‑square‑foot assisted living facility; Lease in place through March 2029
