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40 North McClintock Drive, Chandler, AZ 85226
Condominium office suite with medical improvements, private rooms, reception space, and support areas for professional users.
Property Size2,727 SF
Price / SF$293.33
Days on Market5
Property Features for 40 North McClintock Drive
General Information
Standard status
Active
Size
2,727 SF
Property subtype
Retail, Office
Zoning
PAD
Investment Type
Owner/User
Building Details
Year Built
2006
Year Renovated
2015
Listing Agency:
Kirans And Associates Realty LLC
(602) 920-0150
Listed By:
Nishel Badiani · License #SA563834000
Source:
Crexi
Added: Aug 27
Changed: Aug 31
Last Checked: Aug 31 at 10:04AM
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 Kirans And Associates Realty LLC
Investment Insights
Based on property information with market context.
This 2,727-square-foot medical office condominium at Chandler Gateway Office Park was built in 2006 and includes an existing medical build-out. The interior provides a reception and waiting area, private offices, treatment and exam rooms, private restrooms, a nurses station, break room, and kitchenette. PAD zoning is in place for the property.
Located at 40 North McClintock Drive in Chandler, the suite is positioned within an established employment corridor. The configuration supports healthcare, dental, behavioral health, and other professional office uses identified for the property.
Located at 40 North McClintock Drive in Chandler, the suite is positioned within an established employment corridor. The configuration supports healthcare, dental, behavioral health, and other professional office uses identified for the property.
Key Highlights
- 2,727 SF medical office condominium
- Existing medical build‑out with reception, waiting area, offices, and treatment/exam rooms
- Private restrooms and nurses station
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
$42,926
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
5.37%
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%
$858,520
$858.5K
Cap Rate 7%
$613,229
$613.2K
Cap Rate 9%
$476,956
$477.0K
Market Conditions
NOI Build-Up for 2,727 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
$71.0K $26.04/SF
− Vacancy
−$13.8K −$5.05/SF
EGI
$57.2K $20.99/SF
− OpEx
−$14.3K −$5.25/SF
NOI
$42.9K $15.74/SF
Area
Chandler, AZ
Vacancy
19.40%
Lease Rate
$26.04 /SF/Yr
Expense Ratio
25.00%
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%
$858,520
Cap Rate 7%
$613,229
Cap Rate 9%
$476,956
Alternative Uses
Best Use
Office B
$613.2K
$536.6K – $715.4K
NOI $42,926 @ 7.0% cap · market cap 5.37%
Second Best
Healthcare Medical
$499.3K
$436.9K – $582.5K
NOI $34,949 @ 7.0% cap · market cap 4.37%
Theoretical Best
Office A
$781.6K
$683.9K – $911.9K
NOI $54,715 @ 7.0% cap · market cap 6.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
727
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 85226, AZ
40,689
Population
17,406
Households
2.3
Avg Household Size
38
Median Age
50%
College-Educated
96%
High-School Grad
38.4 sq mi
ZIP Area
1,060
Density / Sq Mi
$103,740
Median Household Income
$58,515
Median Earnings
$1,785
Median Rent
$452,400
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Similar Off Market Nearby
- Desert Bloom Mobile Veterinary Service — Private Address, 475 S Kenwood Ln, Chandler, AZ 85226
- AniCell Biotech, LLC — 145 S 79th St # 9, Chandler, AZ 85226
- Mesa Cat Hospital — 100 N 79th St, Chandler, AZ 85226
- Petco Vaccination Clinic — 3452 W Chandler Blvd, Chandler, AZ 85226
- Vetco — 3450 W Chandler Blvd, Chandler, AZ 85226
Frequently Asked Questions
What type of property is this?
Medical Office Space - Condominium office suite with medical improvements, private rooms, reception space, and support areas for professional users.
Where is this medical office space located?
The property is located at 40 North McClintock Drive Chandler, AZ.
What is the asking price?
The asking price for this property is $799,900.
What are key features of this property?
This property features: 2,727 SF medical office condominium; Existing medical build‑out with reception, waiting area, offices, and treatment/exam rooms; Private restrooms and nurses station
