Medical Office
New
For Sale
Contact for pricing
4202 E Raymond St, Phoenix, AZ 85040
Existing improvements support medical, general office, or industrial reuse.
Property Size6,222 SF
Price / SF$290
Days on Market5
Property Features for 4202 E Raymond St
General Information
Standard status
Active
Size
6,222 SF
Property subtype
OFFICE
Listing Agency:
Cresa | Phoenix
(602) 690-7050
Listed By:
Rod Beach · License #SA534659000
(602) 690-7050
Source:
Moodyscre
Added: Aug 6
Changed: Aug 9
Last Checked: Aug 10 at 9:04AM
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 Cresa | Phoenix
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.
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 = 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
$106,513
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
5.90%
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%
$2,130,260
$2.1M
Cap Rate 7%
$1,521,614
$1.5M
Cap Rate 9%
$1,183,478
$1.2M
Market Conditions
NOI Build-Up for 6,222 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
$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 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%
$2,130,260
Cap Rate 7%
$1,521,614
Cap Rate 9%
$1,183,478
Alternative Uses
Best Use
Office B
$1.52M
$1.33M – $1.78M
NOI $106,513 @ 7.0% cap · market cap 5.90%
Second Best
Healthcare Medical
$1.27M
$1.11M – $1.48M
NOI $88,701 @ 7.0% cap · market cap 4.92%
Theoretical Best
Office A
$1.88M
$1.65M – $2.20M
NOI $131,929 @ 7.0% cap · market cap 7.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
308
Businesses Nearby
Under-served
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
Vacancy Rate% for Office in Phoenix, AZ
Questions? Ask Rey
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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
