Listing Agency: SVN | Desert Commercial Advisors Show Phone

Listed By: Justin Horwitz · License #SA562459000 Show Phone

Source: Moodyscre

Added: Oct 13 Changed: Oct 16 Last Checked: Oct 16 at 8:29AM

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Investment Insights

Based on property information with market context.

This 2,927-square-foot medical office condominium is arranged with a waiting room, several exam rooms, and a nursing station. Its interior layout can also accommodate administrative or general office use. The unit is on the second floor, served by elevator and stair access, and includes two covered reserved parking stalls.

The office is part of the Chauncey Ranch office complex, which provides a lobby entrance and shared restrooms.

Key Highlights

• 2,927‑square‑foot medical office condominium
• Waiting room, multiple exam rooms, and nursing station
• Convertible to administrative or general office use

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$50,106

Cap Rate

4.18%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,002,120 $1.0M

Cap Rate 7%

$715,800 $715.8K

Cap Rate 9%

$556,733 $556.7K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,927 SF

Gross rent

$89.9K $30.72/SF

− Vacancy

−$23.1K −$7.90/SF

EGI

$66.8K $22.82/SF

− OpEx

−$16.7K −$5.71/SF

NOI

$50.1K $17.12/SF

Area

Phoenix, AZ

Vacancy

25.70%

Lease Rate

$30.72 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,002,120

Cap Rate 7%

$715,800

Cap Rate 9%

$556,733

Alternative Uses

Best Use

Office B

$715.8K

$626.3K – $835.1K (±1% cap)

NOI $50,106 @ 7.0% cap · market cap 4.18%

Second Best

Healthcare Medical

$596.1K

$521.6K – $695.5K (±1% cap)

NOI $41,727 @ 7.0% cap · market cap 3.48%

Theoretical Best

Office A

$886.6K

$775.8K – $1.03M (±1% cap)

NOI $62,063 @ 7.0% cap · market cap 5.17%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Len Zavala | Fairway ... Loan Service Fairway Independent Mortgage ... Loan Service Cindy J Petersen ... Loan Service Strategy Financial Group Financial Advisor Arizona Orthodontic Studio Dental Office

Suggested Use

Top Pick Building Supply Auto Parts Store Big Box & Wholesale Store Parking Lot & Garage Storage Facility Grocery & Convenience Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

753

Businesses Nearby

Balanced

Demand for This Use

Explore this area Business Placement

Demographics for 85054, AZ

8,849

Population

6,271

Households

1.4

Avg Household Size

39

Median Age

61%

College-Educated

98%

High-School Grad

8.6 sq mi

ZIP Area

1,029

Density / Sq Mi

$89,099

Median Household Income

$64,554

Median Earnings

$2,146

Median Rent

$618,100

Median Home Value

Market

Vacancy Rate% for Office in Phoenix, AZ

14.4% 2019

19.3% 2020

21.7% 2021

24.3% 2022

27.4% 2023

28.5% 2024

26.5% 2025

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Frequently Asked Questions

What type of property is this?

Medical Office Space - An adaptable professional suite is configured for clinical care or general administrative work.

Where is this medical office space located?

The property is located at 7010 E Chauncey Ln Phoenix, AZ.

What is the asking price?

The asking price for this property is $1,200,000.

What are key features of this property?

This property features: 2,927‑square‑foot medical office condominium; Waiting room, multiple exam rooms, and nursing station; Convertible to administrative or general office use