Licensed Assisted Living
For Sale
$739,999
607 W VILLA RITA Drive, Phoenix, AZ 85023
Furnished residential care property with approved capacity for 10 residents and an included operating business.
Property Size2,853 SF
Days on Market100
Property Features for 607 W VILLA RITA Drive
General Information
Standard status
Active
Size
2,853 SF
Property subtype
COMMERCIAL
Additional Details
Business Included
Yes
Amenities
fenced pool and spa
Building Details
Building Size
2,853 SF
Listing Agency:
Real Broker
(602) 810-2106
Listed By:
Adrian Cirjan · License #BR624293000
(602) 810-2106
Source:
Jcluxuryresidential
Added: May 24
Changed: Aug 28
Last Checked: Aug 30 at 10:47PM
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 Real Broker
Investment Insights
Based on property information with market context.
This assisted living facility at 607 W Villa Rita Dr in Phoenix includes the real estate, operating business, furnishings, and improvements. The property is licensed for 10 residents and is qualified for behavioral health use, although no residents are currently in place. Interior upgrades include granite countertops along with travertine and laminate flooring.
Outdoor amenities include a fenced pool and spa. A permitted garage conversion provides two bedrooms and a half bath beyond the primary bedroom count; the space can be changed back to garage use. The property is offered with its furniture, supporting a furnished care-facility setup.
Outdoor amenities include a fenced pool and spa. A permitted garage conversion provides two bedrooms and a half bath beyond the primary bedroom count; the space can be changed back to garage use. The property is offered with its furniture, supporting a furnished care-facility setup.
Key Highlights
- Licensed assisted living facility with capacity for 10 residents
- Operating business and real estate included
- Behavioral Health qualified
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
$33,276
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
4.50%
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%
$665,520
$665.5K
Cap Rate 7%
$475,371
$475.4K
Cap Rate 9%
$369,733
$369.7K
Market Conditions
NOI Build-Up for 2,853 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
$64.4K $22.56/SF
− Vacancy
−$3.9K −$1.35/SF
EGI
$60.5K $21.21/SF
− OpEx
−$27.2K −$9.54/SF
NOI
$33.3K $11.66/SF
Area
Phoenix, AZ
Vacancy
6.00%
Lease Rate
$22.56 /SF/Yr
Expense Ratio
45.00%
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%
$665,520
Cap Rate 7%
$475,371
Cap Rate 9%
$369,733
Alternative Uses
Best Use
Apartment 5plus
$475.4K
$416.0K – $554.6K
NOI $33,276 @ 7.0% cap · market cap 4.50%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$864.2K
$756.2K – $1.01M
NOI $60,494 @ 7.0% cap · market cap 8.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
268
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 85023, AZ
35,241
Population
14,765
Households
2.4
Avg Household Size
36
Median Age
32%
College-Educated
91%
High-School Grad
7.4 sq mi
ZIP Area
4,762
Density / Sq Mi
$72,442
Median Household Income
$43,936
Median Earnings
$1,429
Median Rent
$359,200
Median Home Value
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Assisted living facility - Furnished residential care property with approved capacity for 10 residents and an included operating business.
Where is this assisted living facility located?
The property is located at 607 W VILLA RITA Drive Phoenix, AZ.
What is the asking price?
The asking price for this property is $739,999.
What are key features of this property?
This property features: Licensed assisted living facility with capacity for 10 residents; Operating business and real estate included; Behavioral Health qualified
