Medical Office Condo Near
For Sale
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44215 15th Street West 307, Lancaster, CA 93534
Medical office condo within Antelope Valley Hospital campus parking lot.
Property Size1,345 SF
Price / SF$334.57
Days on Market206
Property Features for 44215 15th Street West 307
General Information
Standard status
Active
Size
1,345 SF
Property subtype
Office
Zoning
LHD
Listing Agency:
CENTURY 21 Masters
(661) 576-1629
Listed By:
Mohammad Masroor Ali · License #CA 02123558
Source:
Crexi
Added: Jan 20
Changed: Aug 8
Last Checked: Aug 8 at 2:46PM
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 CENTURY 21 Masters
Investment Insights
Based on property information with market context.
This is a third-floor, elevator-serviced medical office condominium located within the Antelope Valley Hospital campus parking lot. Suite 307 is a ±1,345 SF medical office condo in the Antelope Valley Hospital Medical Plaza, offering strong visibility and synergy with surrounding medical uses. The suite is currently vacant and features a functional medical layout including a private physician's office with attached restroom, three exam/patient rooms (including an oversized exam/procedure room), a dedicated patient consultation room, reception/check-in area, a second restroom accessible from the patient waiting area, and an employee break room with sink and cabinetry. Interior improvements include extensive built-in cabinetry, a mix of carpet, vinyl, and wood flooring, and abundant natural light from exterior windows. Additional common-area restrooms for patients and visitors are located near the elevators. The building is professionally managed and offers elevator service, on-site roving marked security, and a shared third-floor waiting area available for tenant use. The property is located in the same parking lot as Antelope Valley Hospital and is in close proximity to City of Hope and numerous surrounding medical office buildings, providing strong medical synergy, convenience, and visibility. Ownership is a condominium interest in the improvements only; the land is held under a ground lease. Monthly POA dues cover common area maintenance and building services. The property is intended for medical office use.
Key Highlights
- Located within the Antelope Valley Hospital campus parking lot, offering strong medical synergy, convenience, and visibility.
- Functional ±1,345 SF medical office layout including a private physician's office with restroom, multiple exam rooms, consultation room, and reception area.
- Currently vacant and move‑in ready for immediate occupancy.
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
$22,152
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
4.92%
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%
$443,040
$443.0K
Cap Rate 7%
$316,457
$316.5K
Cap Rate 9%
$246,133
$246.1K
Market Conditions
NOI Build-Up for 1,345 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
$40.4K $30.00/SF
− Vacancy
−$3.4K −$2.55/SF
EGI
$36.9K $27.45/SF
− OpEx
−$14.8K −$10.98/SF
NOI
$22.2K $16.47/SF
Area
Lancaster, CA
Vacancy
8.50%
Lease Rate
$30.00 /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%
$443,040
Cap Rate 7%
$316,457
Cap Rate 9%
$246,133
Alternative Uses
Best Use
Healthcare Medical
$316.5K
$276.9K – $369.2K
NOI $22,152 @ 7.0% cap · market cap 4.92%
Second Best
Office B
$306.3K
$268.0K – $357.3K
NOI $21,438 @ 7.0% cap · market cap 4.76%
Theoretical Best
Office A
$422.5K
$369.7K – $492.9K
NOI $29,574 @ 7.0% cap · market cap 6.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,374
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 93534, CA
43,906
Population
16,343
Households
2.7
Avg Household Size
34
Median Age
18%
College-Educated
81%
High-School Grad
19.0 sq mi
ZIP Area
2,311
Density / Sq Mi
$58,891
Median Household Income
$44,566
Median Earnings
$1,513
Median Rent
$339,900
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Medical office condo within Antelope Valley Hospital campus parking lot.
Where is this medical office space located?
The property is located at 44215 15th Street West 307 Lancaster, CA.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: Located within the Antelope Valley Hospital campus parking lot, offering strong medical synergy, convenience, and visibility.; Functional ±1,345 SF medical office layout including a private physician's office with restroom, multiple exam rooms, consultation room, and reception area.; Currently vacant and move‑in ready for immediate occupancy.
