3600 North 3rd Avenue, Phoenix, AZ 85013

Building Details

Buildings 1 More

Building Size 8,265 SF More

Parking Ratio 4.14 per 1,000 SF More

Listing Agency: Kidder Mathews

Listed By: Kurt Kerner · License AZ SA704414000 Show Phone

Source: Crexi

Added: Oct 5 Changed: Nov 8 Last Checked: Nov 8 at 5:50PM

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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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Review the available facts, identify missing information and prepare questions for the agent.

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Investment Insights

Based on property information with market context.

The 8,265-square-foot medical office building is vacant and arranged as two suites, with floor plans available for each. Building and monument signage are available, and the property has a parking ratio of 4.14 spaces per 1,000 SF.

Facing North 3rd Avenue in Central Phoenix, the building is 2.9 miles from Banner University Medical Center.

Key Highlights

• 8,265‑square‑foot medical office building
• Two suites with floor plans available
• Building and monument signage available

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$141,486

Cap Rate

5.72%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,829,720 $2.8M

Cap Rate 7%

$2,021,229 $2.0M

Cap Rate 9%

$1,572,067 $1.6M

Is this asking price fair?

Market Conditions

NOI Build-Up for 8,265 SF

Gross rent

$253.9K $30.72/SF

− Vacancy

−$65.3K −$7.90/SF

EGI

$188.6K $22.82/SF

− OpEx

−$47.2K −$5.71/SF

NOI

$141.5K $17.12/SF

Area

Phoenix, AZ

Vacancy

25.70%

Lease Rate

$30.72 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,829,720

Cap Rate 7%

$2,021,229

Cap Rate 9%

$1,572,067

Alternative Uses

Best Use

Office B

$2.02M

$1.77M – $2.36M (±1% cap)

NOI $141,486 @ 7.0% cap · market cap 5.72%

Second Best

Healthcare Medical

$1.68M

$1.47M – $1.96M (±1% cap)

NOI $117,826 @ 7.0% cap · market cap 4.76%

Theoretical Best

Office A

$2.50M

$2.19M – $2.92M (±1% cap)

NOI $175,248 @ 7.0% cap · market cap 7.08%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Children's Health Center Pediatrician Adam Calarese, MD Physician Henry Tarlian, MD ... Physician David Paolini Physician Carla Aldaz, MSN, ... Physician

Suggested Use

Top Pick (Bike/Boat/Book/etc) Store Locksmith Pet Grooming Service Carpet & Flooring Store Butcher Plumbing Service

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

2

Office units

Location Intelligence

Trade Area within ½ mile

5,005

Businesses Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Demographics for 85013, AZ

21,970

Population

11,618

Households

1.9

Avg Household Size

38

Median Age

47%

College-Educated

90%

High-School Grad

3.7 sq mi

ZIP Area

5,938

Density / Sq Mi

$68,895

Median Household Income

$53,067

Median Earnings

$1,435

Median Rent

$476,200

Median Home Value

Market

Average Price Trend$/SF for Medical Office Space in Phoenix, AZ

$283 Jul

$227 Aug

$266 Sep

$264 Oct

Properties on Market for Medical Office Space in Phoenix

Jul

Aug

Sep

Oct

Vacancy Rate% for Office in Phoenix, AZ

14.4% 2019

19.3% 2020

21.7% 2021

24.3% 2022

27.4% 2023

28.5% 2024

26.5% 2025

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Frequently Asked Questions

What type of property is this?

Medical Office Space - The vacant property faces North 3rd Avenue and offers building and monument signage.

Where is this medical office space located?

The property is located at 3600 North 3rd Avenue Phoenix, AZ.

What is the asking price?

The asking price for this property is $2,475,000.

What are key features of this property?

This property features: 8,265‑square‑foot medical office building; Two suites with floor plans available; Building and monument signage available