Single-Tenant Office
For Sale
Contact for pricing
5005 S Wendler Dr, Tempe, AZ 85282
Medical and clinical office facility with dedicated backup power and full occupancy under an established tenant lease.
Property Size30,228 SF
Price / SF$296.91
Days on Market8
Property Features for 5005 S Wendler Dr
General Information
Standard status
Active
Size
30,228 SF
Class
B
Property subtype
Office
Zoning
GID, Tempe
Occupancy
100%
Lease Type
NNN
Investment Type
Stabilized
Net Operating Income
$638,973
Financials
Asking Price
$8,975,000
Cap Rate
7.12%
Additional Details
Office Units
1
Building Details
Year Built
2003
Buildings
1
Stories
1
Tenancy
Single
Building Size
30,228 SF
Owner Occupied
No
Listing Agency:
Kidder Mathews
(858) 964-8019
Listed By:
Kurt Kerner · License #SA 704414000
Source:
Crexi
Added: Aug 4
Changed: Aug 10
Last Checked: Aug 10 at 7:13AM
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
Investment Insights
Based on property information with market context.
Built in 2003, this 30,228-square-foot office building is configured for single-tenant medical and clinical operations. Dedicated backup power infrastructure supports the facility’s research-oriented functions, while the property is fully leased to Celerion, a clinical research organization with operations in the Tempe submarket since 1985.
The property is located at 5005 S Wendler Dr in Tempe, Arizona, and carries GID, Tempe zoning. Celerion’s broader campus presence is within a quarter mile of the building. The asset combines a specialized office setting, established occupancy, and infrastructure suited to clinical research use.
The property is located at 5005 S Wendler Dr in Tempe, Arizona, and carries GID, Tempe zoning. Celerion’s broader campus presence is within a quarter mile of the building. The asset combines a specialized office setting, established occupancy, and infrastructure suited to clinical research use.
Key Highlights
- 30,228‑square‑foot single‑tenant office and medical building
- 100% leased to Celerion, a clinical research organization
- Dedicated backup power infrastructure supports research operations
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
$540,309
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
6.02%
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%
$10,806,180
$10.8M
Cap Rate 7%
$7,718,700
$7.7M
Cap Rate 9%
$6,003,433
$6.0M
Market Conditions
NOI Build-Up for 30,228 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
$917.7K $30.36/SF
− Vacancy
−$197.3K −$6.53/SF
EGI
$720.4K $23.83/SF
− OpEx
−$180.1K −$5.96/SF
NOI
$540.3K $17.87/SF
Area
Tempe, AZ
Vacancy
21.50%
Lease Rate
$30.36 /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%
$10,806,180
Cap Rate 7%
$7,718,700
Cap Rate 9%
$6,003,433
Alternative Uses
Best Use
Office B
$7.72M
$6.75M – $9.01M
NOI $540,309 @ 7.0% cap · market cap 6.02%
Second Best
Healthcare Medical
$6.51M
$5.69M – $7.59M
NOI $455,415 @ 7.0% cap · market cap 5.07%
Theoretical Best
Office A
$9.51M
$8.32M – $11.09M
NOI $665,391 @ 7.0% cap · market cap 7.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Office units
Location Intelligence
Trade Area within ½ mile
910
Businesses Nearby
Explore this area
Business Placement
Demographics for 85282, AZ
52,351
Population
25,667
Households
2
Avg Household Size
33
Median Age
44%
College-Educated
94%
High-School Grad
11.1 sq mi
ZIP Area
4,716
Density / Sq Mi
$79,084
Median Household Income
$43,863
Median Earnings
$1,627
Median Rent
$370,000
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office building - Medical and clinical office facility with dedicated backup power and full occupancy under an established tenant lease.
Where is this office building located?
The property is located at 5005 S Wendler Dr Tempe, AZ.
What is the asking price?
The asking price for this property is $8,975,000.
What are key features of this property?
This property features: 30,228‑square‑foot single‑tenant office and medical building; 100% leased to Celerion, a clinical research organization; Dedicated backup power infrastructure supports research operations
