Leased Medical Office
For Sale
Contact for pricing
7304 E Deer Valley Road, Scottsdale, AZ 85255
Two medical practices occupy the building, including an imaging provider established there in 2007.
Property Size7,190 SF
Price / SF$489.57
Days on Market10
Property Features for 7304 E Deer Valley Road
General Information
Standard status
Active
Size
7,190 SF
Property subtype
Office
Occupancy
100%
Financials
Asking Price
$3,520,000
Gross Income
$251,850
Additional Details
Highway Access
Yes
Building Details
Year Built
2006
Tenancy
Multi
Listing Agency:
Kidder Mathews
Listed By:
Zack Harris · License #SA709469000
(602) 513-5121
Source:
Crexi
Added: Sep 17
Changed: Sep 24
Last Checked: Sep 26 at 6:47AM
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 Kidder Mathews
Investment Insights
Based on property information with market context.
This 7,190-square-foot medical office property was built in 2006 and is fully leased. SimonMed Imaging has occupied a purpose-built imaging suite since 2007. Desert Spine and Sports Physicians has a five-year lease beginning August 2025, with contractual annual increases of 3%. The property’s leases present rollover in 2029–2030.
The building is one block north of HonorHealth Scottsdale Thompson Peak Medical Center and offers access to Loop 101. Its address is 7304 E Deer Valley Road in Scottsdale, Arizona.
The building is one block north of HonorHealth Scottsdale Thompson Peak Medical Center and offers access to Loop 101. Its address is 7304 E Deer Valley Road in Scottsdale, Arizona.
Key Highlights
- 7,190‑square‑foot medical office property built in 2006
- Fully leased to SimonMed Imaging and Desert Spine and Sports Physicians
- SimonMed Imaging has occupied its purpose‑built suite since 2007
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
$113,830
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
3.23%
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%
$2,276,600
$2.3M
Cap Rate 7%
$1,626,143
$1.6M
Cap Rate 9%
$1,264,778
$1.3M
Market Conditions
NOI Build-Up for 7,190 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
$184.6K $25.68/SF
− Vacancy
−$32.9K −$4.57/SF
EGI
$151.8K $21.11/SF
− OpEx
−$37.9K −$5.28/SF
NOI
$113.8K $15.83/SF
Area
Scottsdale, AZ
Vacancy
17.80%
Lease Rate
$25.68 /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%
$2,276,600
Cap Rate 7%
$1,626,143
Cap Rate 9%
$1,264,778
Alternative Uses
Best Use
Office B
$1.63M
$1.42M – $1.90M
NOI $113,830 @ 7.0% cap · market cap 3.23%
Second Best
Healthcare Medical
$1.46M
$1.28M – $1.71M
NOI $102,501 @ 7.0% cap · market cap 2.91%
Theoretical Best
Retail
$2.36M
$2.07M – $2.75M
NOI $165,219 @ 7.0% cap · market cap 4.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
434
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 85255, AZ
44,976
Population
23,016
Households
2
Avg Household Size
51
Median Age
68%
College-Educated
98%
High-School Grad
88.2 sq mi
ZIP Area
510
Density / Sq Mi
$143,567
Median Household Income
$93,339
Median Earnings
$2,401
Median Rent
$975,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in West region
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Two medical practices occupy the building, including an imaging provider established there in 2007.
Where is this medical office space located?
The property is located at 7304 E Deer Valley Road Scottsdale, AZ.
What is the asking price?
The asking price for this property is $3,520,000.
What are key features of this property?
This property features: 7,190‑square‑foot medical office property built in 2006; Fully leased to SimonMed Imaging and Desert Spine and Sports Physicians; SimonMed Imaging has occupied its purpose‑built suite since 2007
