Medical Office
For Sale
$1,259,000
7010 E Chauncey Ln. #215, Phoenix, AZ 85054
Existing clinical layout with a waiting room, exam rooms, and nursing station supports medical or general office use.
Property Size2,927 SF
Price / SF$430.13
Days on Market56
Property Features for 7010 E Chauncey Ln. #215
General Information
Standard status
Active
Size
2,927 SF
Class
B
Total Parking Spaces
2
Elevators
Yes
Property subtype
Office
Additional Details
Floor
2
Highway Access
Yes
Building Details
Building Size
2,927 SF
Listing Agency:
SVN | Desert Commercial Advisors
(480) 220-2674
Listed By:
Justin Horwitz, SIOR · License #AZ #SA674245000
(480) 220-2674
Source:
Svn
Added: Jul 8
Changed: Aug 31
Last Checked: Aug 31 at 3:34PM
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 SVN | Desert Commercial Advisors
Investment Insights
Based on property information with market context.
This 2,927 SF medical office condo occupies the second floor of the Chauncey Ranch office complex. The existing configuration includes a waiting room, multiple exam rooms, and a nursing station, while the space can also be converted for administrative or general office use. Elevator and stair access serve the floor, with common area restrooms available within the complex. The sale includes 2 covered reserved parking stalls.
The property is located at 7010 E. Chauncey Ln. #215 near the Scottsdale Rd. and 101 Fwy intersection in Phoenix. The setting provides access to retail amenities and restaurants, with Mayo Clinic and Banner Health's new medical campus minutes away. Freeway access connects the property with other parts of the Valley.
The property is located at 7010 E. Chauncey Ln. #215 near the Scottsdale Rd. and 101 Fwy intersection in Phoenix. The setting provides access to retail amenities and restaurants, with Mayo Clinic and Banner Health's new medical campus minutes away. Freeway access connects the property with other parts of the Valley.
Key Highlights
- 2,927 SF second‑floor medical office condo
- Waiting room, multiple exam rooms, and nursing station
- Can be converted to administrative or general office use
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
$50,106
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
3.98%
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%
$1,002,120
$1.0M
Cap Rate 7%
$715,800
$715.8K
Cap Rate 9%
$556,733
$556.7K
Market Conditions
NOI Build-Up for 2,927 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
$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 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%
$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
NOI $50,106 @ 7.0% cap · market cap 3.98%
Second Best
Healthcare Medical
$596.1K
$521.6K – $695.5K
NOI $41,727 @ 7.0% cap · market cap 3.31%
Theoretical Best
Office A
$886.6K
$775.8K – $1.03M
NOI $62,063 @ 7.0% cap · market cap 4.93%
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
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Existing clinical layout with a waiting room, exam rooms, and nursing station supports medical or general office use.
Where is this medical office space located?
The property is located at 7010 E Chauncey Ln. #215 Phoenix, AZ.
What is the asking price?
The asking price for this property is $1,259,000.
What are key features of this property?
This property features: 2,927 SF second‑floor medical office condo; Waiting room, multiple exam rooms, and nursing station; Can be converted to administrative or general office use
