Medical Center with NNN
New
For Sale
$9,500,000
5448 W White Mountain Blvd, Lakeside, AZ 85929
Healthcare facility with long-term occupancy, annual rent increases, and proximity to a regional hospital.
Property Size33,050 SF
Price / SF$287.44
Days on Market2
Property Features for 5448 W White Mountain Blvd
General Information
Standard status
Active
Size
33,050 SF
Net Rentable
33,050 SF
Property subtype
Commercial
Net Operating Income
$784,607
Building Details
Year Built
1999
Listing Agency:
Matthews Real Estate Investment Services
(310) 295-1170
Listed By:
David Harrington · License #01320460 (CA)
(310) 295-1170
Source:
Matthews
Added: Aug 30
Changed: Aug 31
Last Checked: Aug 31 at 12:35PM
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 Matthews Real Estate Investment Services
Investment Insights
Based on property information with market context.
This 33,050 SF medical center was built in 1999 and is supported by long-term NNN leases. The lease structure provides more than four years of WALT and includes 3% annual rent increases. Sunrise Ambulatory Surgery Center occupies 37% of the rentable area and is majority-owned by AMSURG, which operates more than 250 locations across 34 states and D.C. Ascension announced its acquisition of AMSURG in June of 2026.
The property is located at 5448 W White Mountain Blvd on SR-260 in Lakeside, within the healthcare corridor serving Show Low and Arizona’s White Mountains. Summit Healthcare Regional Medical Center, a 101-bed hospital with a Level IV Trauma Center and helipad, is approximately one mile away. Walmart Supercenter, Lowe’s, Home Depot, Safeway, Walgreens, schools, parks, Torreon Golf Club, and Show Low Regional Airport are all approximately ±5 miles from the property. Approximately 27.1% of Show Low’s population is 65 years of age or older.
The property is located at 5448 W White Mountain Blvd on SR-260 in Lakeside, within the healthcare corridor serving Show Low and Arizona’s White Mountains. Summit Healthcare Regional Medical Center, a 101-bed hospital with a Level IV Trauma Center and helipad, is approximately one mile away. Walmart Supercenter, Lowe’s, Home Depot, Safeway, Walgreens, schools, parks, Torreon Golf Club, and Show Low Regional Airport are all approximately ±5 miles from the property. Approximately 27.1% of Show Low’s population is 65 years of age or older.
Key Highlights
- 33,050 SF medical center built in 1999
- Long‑term NNN leases with over four (4) years WALT
- 3% annual rent increases
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
$494,666
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
5.21%
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%
$9,893,320
$9.9M
Cap Rate 7%
$7,066,657
$7.1M
Cap Rate 9%
$5,496,289
$5.5M
Market Conditions
NOI Build-Up for 33,050 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
$959.8K $29.04/SF
− Vacancy
−$135.3K −$4.09/SF
EGI
$824.4K $24.95/SF
− OpEx
−$329.8K −$9.98/SF
NOI
$494.7K $14.97/SF
Area
Navajo County, AZ
Vacancy
14.10%
Lease Rate
$29.04 /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%
$9,893,320
Cap Rate 7%
$7,066,657
Cap Rate 9%
$5,496,289
Alternative Uses
Best Use
Healthcare Medical
$7.07M
$6.18M – $8.24M
NOI $494,666 @ 7.0% cap · market cap 5.21%
Second Best
Office B
$6.41M
$5.61M – $7.48M
NOI $448,846 @ 7.0% cap · market cap 4.72%
Theoretical Best
Specialty Retail
$8.98M
$7.86M – $10.48M
NOI $628,684 @ 7.0% cap · market cap 6.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
112
Businesses Nearby
Explore this area
Business Placement
Demographics for 85929, AZ
8,040
Population
5,089
Households
1.6
Avg Household Size
51
Median Age
23%
College-Educated
88%
High-School Grad
34.1 sq mi
ZIP Area
236
Density / Sq Mi
$56,837
Median Household Income
$36,535
Median Earnings
$1,117
Median Rent
$250,100
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 center - Healthcare facility with long-term occupancy, annual rent increases, and proximity to a regional hospital.
Where is this medical center located?
The property is located at 5448 W White Mountain Blvd Lakeside, AZ.
What is the asking price?
The asking price for this property is $9,500,000.
What are key features of this property?
This property features: 33,050 SF medical center built in 1999; Long‑term NNN leases with over four (4) years WALT; 3% annual rent increases
