Single-Tenant Medical NNN
New
For Sale
$539,000
815 E Warner Road #104, Chandler, AZ 85225
Absolute NNN lease runs through January 2035 with no landlord obligations.
Property Size1,406 SF
Days on Market4
Property Features for 815 E Warner Road #104
General Information
Standard status
Active
Size
1,406 SF
Class
B
Property subtype
Office
Additional Details
Highway Access
Yes
Building Details
Building Size
1,406 SF
Tenancy
Single
Owner Occupied
No
Listing Agency:
SVN | Desert Commercial Advisors
(480) 220-2674
Listed By:
Justin Horwitz, SIOR · License #SA562459000
(480) 220-2674
Source:
Svndesertcommercial
Added: Aug 28
Changed: Aug 29
Last Checked: Aug 30 at 3:51PM
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 single-tenant medical property at 815 E Warner Road #104 in Chandler is occupied by Advanced Pain Management under an absolute NNN lease. The agreement extends through January 2035 and includes 3% annual rent increases, with no landlord responsibilities stated in the lease structure.
The property is positioned southwest of Warner and McQueen Roads, with access to the Loop 101, San Tan Loop 202, and US 60 Freeways. The offering may be acquired individually or alongside three additional Advanced Pain Management locations as a four-property portfolio. The medical operator has more than 15 years of experience and approximately 8 locations throughout Greater Phoenix and Tucson.
The property is positioned southwest of Warner and McQueen Roads, with access to the Loop 101, San Tan Loop 202, and US 60 Freeways. The offering may be acquired individually or alongside three additional Advanced Pain Management locations as a four-property portfolio. The medical operator has more than 15 years of experience and approximately 8 locations throughout Greater Phoenix and Tucson.
Key Highlights
- Absolute NNN lease with term extending through January 2035
- 3% annual rent increases
- Zero landlord responsibilities under the lease structure
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
$22,132
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
4.11%
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%
$442,640
$442.6K
Cap Rate 7%
$316,171
$316.2K
Cap Rate 9%
$245,911
$245.9K
Market Conditions
NOI Build-Up for 1,406 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
$36.6K $26.04/SF
− Vacancy
−$7.1K −$5.05/SF
EGI
$29.5K $20.99/SF
− OpEx
−$7.4K −$5.25/SF
NOI
$22.1K $15.74/SF
Area
Chandler, AZ
Vacancy
19.40%
Lease Rate
$26.04 /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%
$442,640
Cap Rate 7%
$316,171
Cap Rate 9%
$245,911
Alternative Uses
Best Use
Office B
$316.2K
$276.7K – $368.9K
NOI $22,132 @ 7.0% cap · market cap 4.11%
Second Best
Healthcare Medical
$257.4K
$225.2K – $300.3K
NOI $18,019 @ 7.0% cap · market cap 3.34%
Theoretical Best
Office A
$403.0K
$352.6K – $470.2K
NOI $28,210 @ 7.0% cap · market cap 5.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Single-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
541
Businesses Nearby
Explore this area
Business Placement
Demographics for 85225, AZ
73,551
Population
28,930
Households
2.5
Avg Household Size
35
Median Age
33%
College-Educated
88%
High-School Grad
12.7 sq mi
ZIP Area
5,791
Density / Sq Mi
$86,036
Median Household Income
$45,692
Median Earnings
$1,662
Median Rent
$386,800
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
NNN property - Absolute NNN lease runs through January 2035 with no landlord obligations.
Where is this nnn property located?
The property is located at 815 E Warner Road #104 Chandler, AZ.
What is the asking price?
The asking price for this property is $539,000.
What are key features of this property?
This property features: Absolute NNN lease with term extending through January 2035; 3% annual rent increases; Zero landlord responsibilities under the lease structure
