4202 E Raymond St, Phoenix, AZ 85040

Listing Agency: Cresa | Phoenix Show Phone

Listed By: Rod Beach · License #SA534659000 Show Phone

Source: Moodyscre

Added: Aug 6 Changed: Nov 2 Last Checked: Nov 8 at 7:09AM

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Investment Insights

Based on property information with market context.

Located at 4202 E Raymond St in Phoenix, this 6,222-square-foot medical office property is currently operated as a veterinary hospital. The building has been maintained in its existing condition and is positioned for continued medical-office use or adaptation to general office functions.

The property information also identifies industrial repurposing as a potential direction. The current business is expected to move out around November, creating an opportunity for a future occupant or user to evaluate the existing improvements for its intended operation.

Key Highlights

• 6,222‑square‑foot medical office property
• Currently operated as a veterinary hospital
• Identified for medical office, general office, or industrial reuse

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$106,513

Cap Rate

5.90%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,130,260 $2.1M

Cap Rate 7%

$1,521,614 $1.5M

Cap Rate 9%

$1,183,478 $1.2M

Is this asking price fair?

Market Conditions

NOI Build-Up for 6,222 SF

Gross rent

$191.1K $30.72/SF

− Vacancy

−$49.1K −$7.90/SF

EGI

$142.0K $22.82/SF

− OpEx

−$35.5K −$5.71/SF

NOI

$106.5K $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%

$2,130,260

Cap Rate 7%

$1,521,614

Cap Rate 9%

$1,183,478

Alternative Uses

Best Use

Office B

$1.52M

$1.33M – $1.78M (±1% cap)

NOI $106,513 @ 7.0% cap · market cap 5.90%

Second Best

Healthcare Medical

$1.27M

$1.11M – $1.48M (±1% cap)

NOI $88,701 @ 7.0% cap · market cap 4.92%

Theoretical Best

Office A

$1.88M

$1.65M – $2.20M (±1% cap)

NOI $131,929 @ 7.0% cap · market cap 7.31%

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

Veterinary Neurological Center Veterinary Clinic Pepsi Co Warehouse & Storage

Suggested Use

Top Pick Dental Office (Bike/Boat/Book/etc) Store Veterinary Clinic Butcher Skin Care Clinic Locksmith

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

Location Intelligence

Trade Area within ½ mile

1,247

Businesses Nearby

Balanced

Demand for This Use

Explore this area Business Placement

Demographics for 85040, AZ

33,993

Population

11,962

Households

2.8

Avg Household Size

30

Median Age

15%

College-Educated

69%

High-School Grad

10.1 sq mi

ZIP Area

3,366

Density / Sq Mi

$57,890

Median Household Income

$36,355

Median Earnings

$1,193

Median Rent

$294,800

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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Similar Off Market Nearby

• Veterinary Neurological Center — 4202 E Raymond St, Phoenix, AZ 85040

Frequently Asked Questions

What type of property is this?

Medical Office Space - Existing improvements support medical, general office, or industrial reuse.

Where is this medical office space located?

The property is located at 4202 E Raymond St Phoenix, AZ.

What is the asking price?

The asking price for this property is $1,804,380.

What are key features of this property?

This property features: 6,222‑square‑foot medical office property; Currently operated as a veterinary hospital; Identified for medical office, general office, or industrial reuse