Fresenius Medical Center Investment
For Sale
$2,912,000
2802 S 6th Ave, Tucson, AZ 85713
NNN leased Fresenius Medical Center near I-10 and Tucson VA.
Property Size9,369 SF
Price / SF$310.81
Days on Market158
Property Features for 2802 S 6th Ave
General Information
Standard status
Active
Size
9,369 SF
Property subtype
Retail
Listing Agency:
Phoenix Commercial Advisors
Listed By:
Danny Gardiner · License #SA641133000
(602) 385-1328
Source:
Phoenixcommercialadvisors
Added: Apr 1
Changed: Aug 21
Last Checked: Sep 5 at 6:26AM
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 Phoenix Commercial Advisors
Investment Insights
Based on property information with market context.
This property is a Fresenius Medical Care facility operating under a corporate modified NN lease. Fresenius has been operating at this location for 16 years, having previously exercised two options, with two more remaining. The property is an outparcel to a grocery-anchored center with co-tenants including Wingstop, Little Caesars, T-Mobile, Rent-A-Center, Title Max, and Jackson Hewitt. Recent capital improvements include resealing and striping of the parking lot and the installation of two HVAC systems at Fresenius, featuring three-phase, 5-ton RUDD commercial gas package systems. Fresenius is a major provider of products and services for individuals with renal disease, operating over 4,000 dialysis centers across 50 countries. The property benefits from its location less than 0.25 miles from Interstate 10, which sees over 127,000 vehicles per day, and less than 0.5 miles from the 295-bed Tucson VA Medical Center. The surrounding retail corridor includes Costco, Walmart, El Super, Planet Fitness, Curacao, Dave & Busters, and McDonald’s. The property is also located approximately 3 miles from the University of Arizona, which has over 53,000 students and 5,200 staff. It is located within a ±15 minute drive from the top 10 employers in Tucson. Landlord responsibilities are limited, making it a potentially hands-off investment.
Key Highlights
- Corporate Modified NN Lease with Fresenius Medical Care
- Strong operating history with Fresenius at the location for 16 years
- High‑traffic location: Less than ¼ mile from Interstate 10 with over 127,000 VPD
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
$115,351
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
3.96%
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%
$2,307,020
$2.3M
Cap Rate 7%
$1,647,871
$1.6M
Cap Rate 9%
$1,281,678
$1.3M
Market Conditions
NOI Build-Up for 9,369 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
$213.6K $22.80/SF
− Vacancy
−$21.4K −$2.28/SF
EGI
$192.3K $20.52/SF
− OpEx
−$76.9K −$8.21/SF
NOI
$115.4K $12.31/SF
Area
ZIP 85713
Vacancy
10.00%
Lease Rate
$22.80 /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%
$2,307,020
Cap Rate 7%
$1,647,871
Cap Rate 9%
$1,281,678
Alternative Uses
Best Use
Healthcare Medical
$1.65M
$1.44M – $1.92M
NOI $115,351 @ 7.0% cap · market cap 3.96%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.29M
$2.01M – $2.68M
NOI $160,547 @ 7.0% cap · market cap 5.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
597
Businesses Nearby
Explore this area
Business Placement
Demographics for 85713, AZ
46,810
Population
19,056
Households
2.5
Avg Household Size
38
Median Age
21%
College-Educated
79%
High-School Grad
23.8 sq mi
ZIP Area
1,967
Density / Sq Mi
$50,264
Median Household Income
$32,302
Median Earnings
$1,017
Median Rent
$171,700
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Medical center - NNN leased Fresenius Medical Center near I-10 and Tucson VA.
Where is this medical center located?
The property is located at 2802 S 6th Ave Tucson, AZ.
What is the asking price?
The asking price for this property is $2,912,000.
What are key features of this property?
This property features: Corporate Modified NN Lease with Fresenius Medical Care; Strong operating history with Fresenius at the location for 16 years; High‑traffic location: Less than ¼ mile from Interstate 10 with over 127,000 VPD
