Corner Medical Office
For Sale
$200,000
600 W Rex Allen Drive, Willcox, AZ 85643
Well-maintained professional office with a full kitchen, private relaxation room, and convenient on-site parking.
Property Size1,568 SF
Price / SF$127.55
Days on Market145
Property Features for 600 W Rex Allen Drive
General Information
Standard status
Active
Size
1,568 SF
Total Parking Spaces
10
Property subtype
Commercial/Industrial
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$1,196
Amenities
full kitchen
private relaxation room
Building Details
Year Built
1972
Listing Agency:
Jimmy Perez Realty
(520) 432-2808
Listed By:
Jimmy Perez · License #BR538669000
(520) 432-2808
Source:
Exitrealty
Added: Apr 8
Changed: Aug 29
Last Checked: Aug 29 at 10:40PM
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 Jimmy Perez Realty
Investment Insights
Based on property information with market context.
This 1,568-square-foot medical office property was built in 1972 and is currently configured for chiropractic operations. The well-maintained building includes a full kitchen and a private relaxation room, supporting continued medical use or adaptation for dental, wellness, beauty, and other professional office functions. Its corner placement provides a prominent street position with signage potential.
Located on Rex Allen Dr, the property sits three blocks from the hospital and nearby medical facilities. Interstate 10 is readily accessible, with shopping and dining in the surrounding area. A minimum of 10 on-site parking spaces serves clients and staff.
Located on Rex Allen Dr, the property sits three blocks from the hospital and nearby medical facilities. Interstate 10 is readily accessible, with shopping and dining in the surrounding area. A minimum of 10 on-site parking spaces serves clients and staff.
Key Highlights
- 1,568‑square‑foot medical office property built in 1972
- Corner positioning on Rex Allen Dr with signage potential
- Three blocks from the hospital and surrounding medical facilities
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
$14,651
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
7.33%
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%
$293,020
$293.0K
Cap Rate 7%
$209,300
$209.3K
Cap Rate 9%
$162,789
$162.8K
Market Conditions
NOI Build-Up for 1,568 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
$27.3K $17.40/SF
− Vacancy
−$2.9K −$1.83/SF
EGI
$24.4K $15.57/SF
− OpEx
−$9.8K −$6.23/SF
NOI
$14.7K $9.34/SF
Area
Cochise County, AZ
Vacancy
10.50%
Lease Rate
$17.40 /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%
$293,020
Cap Rate 7%
$209,300
Cap Rate 9%
$162,789
Alternative Uses
Best Use
Healthcare Medical
$209.3K
$183.1K – $244.2K
NOI $14,651 @ 7.0% cap · market cap 7.33%
Second Best
Office B
$171.2K
$149.8K – $199.8K
NOI $11,986 @ 7.0% cap · market cap 5.99%
Theoretical Best
Specialty Retail
$232.3K
$203.3K – $271.1K
NOI $16,264 @ 7.0% cap · market cap 8.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
293
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 85643, AZ
8,208
Population
3,965
Households
2.1
Avg Household Size
41
Median Age
18%
College-Educated
83%
High-School Grad
2,206.7 sq mi
ZIP Area
4
Density / Sq Mi
$56,952
Median Household Income
$32,712
Median Earnings
$700
Median Rent
$161,500
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?
Medical Office Space - Well-maintained professional office with a full kitchen, private relaxation room, and convenient on-site parking.
Where is this medical office space located?
The property is located at 600 W Rex Allen Drive Willcox, AZ.
What is the asking price?
The asking price for this property is $200,000.
What are key features of this property?
This property features: 1,568‑square‑foot medical office property built in 1972; Corner positioning on Rex Allen Dr with signage potential; Three blocks from the hospital and surrounding medical facilities
