Goodyear Retail/Medical Investment
For Sale
Contact for pricing
3328 N Litchfield Rd, Goodyear, AZ 85395
Single-tenant retail/medical building in Goodyear, Arizona, leased to MBI.
Property Size6,060 SF
Lot Size0.69 Acres
Price / SF$441.42
Days on Market188
Property Features for 3328 N Litchfield Rd
General Information
Standard status
Active
Size
6,060 SF
Lot size
0.69 Acres
Property subtype
Retail
Occupancy
100%
Lease Type
NNN
Investment Type
Net Lease
Net Operating Income
$167,155
Building Details
Year Built
1997
Stories
1
Tenancy
Single
Listing Agency:
The Silver Group
(415) 461-0600
Listed By:
Barry Silver · License #CA 00909347
Source:
Crexi
Added: Feb 4
Changed: Aug 8
Last Checked: Aug 10 at 11:23AM
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 The Silver Group
Investment Insights
Based on property information with market context.
The property is a single-tenant retail/medical building leased to MBI Industrial Medicine, Inc., situated at 3328 North Litchfield Road in Goodyear, Arizona. The free-standing building encompasses approximately 6,060 square feet and is positioned on an out-parcel of approximately 30,000 square feet within the fully occupied Palm Valley Marketplace Shopping Center. Co-tenants include Safeway Supermarket, Dollar Tree, UPS, Orangetheory Fitness, HR Block, Mathnasium, Whataburger, and Wells Fargo. The location shares the intersection at West Indian School Road with Walmart Neighborhood Market, Walgreens Drugstore, Primrose School, Big O Tires, Burger King, Dutch Bros. Coffee, Wilhelm Tire, and Cobblestone Car Spa. A new ten-year and four-month, triple net lease commenced on May 1, 2023, with landlord responsibilities limited to roof and structure. The lease includes annual rent increases of 3% throughout the term and two additional five-year renewal options. The lease is executed by MBI Industrial Medicine, Inc., which currently operates 12 Phoenix metro locations, providing occupational healthcare services to area employers and employees, and has expanded into the Colorado market with nine locations. The City of Goodyear has exceeded a population of 100,000 residents. This investment opportunity is suited for those seeking long-term, passive income from a regional medical services provider in a growing Phoenix suburb.
Key Highlights
- New 10+ year triple net lease commenced May 1, 2023, providing long‑term passive income.
- Located in the fully occupied Palm Valley Marketplace Shopping Center with strong co‑tenants like Safeway and Whataburger.
- Tenant is MBI Industrial Medicine, Inc., a regional medical services provider with multiple locations.
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
$75,047
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
2.81%
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%
$1,500,940
$1.5M
Cap Rate 7%
$1,072,100
$1.1M
Cap Rate 9%
$833,856
$833.9K
Market Conditions
NOI Build-Up for 6,060 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
$145.4K $24.00/SF
− Vacancy
−$20.4K −$3.36/SF
EGI
$125.1K $20.64/SF
− OpEx
−$50.0K −$8.26/SF
NOI
$75.0K $12.38/SF
Area
Goodyear, AZ
Vacancy
14.00%
Lease Rate
$24.00 /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%
$1,500,940
Cap Rate 7%
$1,072,100
Cap Rate 9%
$833,856
Alternative Uses
Best Use
Healthcare Medical
$1.07M
$938.1K – $1.25M
NOI $75,047 @ 7.0% cap · market cap 2.81%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.79M
$1.56M – $2.09M
NOI $125,171 @ 7.0% cap · market cap 4.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,032
Businesses Nearby
Explore this area
Business Placement
Demographics for 85395, AZ
37,157
Population
15,710
Households
2.4
Avg Household Size
45
Median Age
40%
College-Educated
91%
High-School Grad
18.6 sq mi
ZIP Area
1,998
Density / Sq Mi
$107,980
Median Household Income
$52,185
Median Earnings
$1,912
Median Rent
$524,600
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Medical center - Single-tenant retail/medical building in Goodyear, Arizona, leased to MBI.
Where is this medical center located?
The property is located at 3328 N Litchfield Rd Goodyear, AZ.
What is the asking price?
The asking price for this property is $2,675,000.
What are key features of this property?
This property features: New 10+ year triple net lease commenced May 1, 2023, providing long‑term passive income.; Located in the fully occupied Palm Valley Marketplace Shopping Center with strong co‑tenants like Safeway and Whataburger.; Tenant is MBI Industrial Medicine, Inc., a regional medical services provider with multiple locations.
