Fully Leased Medical Office
For Sale
Contact for pricing
2585 Miracle Mile Suite 120, Bullhead City, AZ 86442
Fully leased medical office space with stable, escalating income.
Property Size2,000 SF
Price / SF$187.50
Days on Market942
Property Features for 2585 Miracle Mile Suite 120
General Information
Standard status
Active
Size
2,000 SF
Property subtype
Office, Retail
Occupancy
100%
Lease Type
Modified Gross
Investment Type
Stabilized
Net Operating Income
$17,500
Building Details
Stories
1
Listing Agency:
Kidder Mathews
(602) 513-5200
Listed By:
Bret Isbell · License #AZ
Source:
Crexi
Added: Jan 22, 2024
Changed: Aug 8
Last Checked: Aug 19 at 12:07PM
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 is an investment offering for a fully leased and built-out medical office. The established Med/Spa tenant has a successful business and is on a long-term lease with annual rent escalations. The space includes a reception/waiting/check-in area, multiple exam rooms with sinks, two restrooms, a lab, and a breakroom. Monument signage is available. The property is located within Colorado Place, a 100,000 sq ft professionally managed mixed-use property. It is the largest office property in the Central Business District of Bullhead City. The market is centered between Las Vegas, Phoenix, and Los Angeles, attracting 5 million year-round tourists seeking river recreation, warmer weather, and gaming.
Key Highlights
- Fully leased medical office providing stable income.
- Established Med/Spa tenant with a long‑term lease and annual rent escalations.
- Located in Colorado Place, a professionally managed 100,000 sq ft mixed‑use property.
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
$24,235
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
6.46%
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%
$484,700
$484.7K
Cap Rate 7%
$346,214
$346.2K
Cap Rate 9%
$269,278
$269.3K
Market Conditions
NOI Build-Up for 2,000 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
$43.2K $21.60/SF
− Vacancy
−$2.8K −$1.40/SF
EGI
$40.4K $20.20/SF
− OpEx
−$16.2K −$8.08/SF
NOI
$24.2K $12.12/SF
Area
Mohave County, AZ
Vacancy
6.50%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
40.00%
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%
$484,700
Cap Rate 7%
$346,214
Cap Rate 9%
$269,278
Alternative Uses
Best Use
Healthcare Medical
$346.2K
$302.9K – $403.9K
NOI $24,235 @ 7.0% cap · market cap 6.46%
Second Best
Office B
$316.9K
$277.3K – $369.8K
NOI $22,185 @ 7.0% cap · market cap 5.92%
Theoretical Best
Office A
$446.5K
$390.7K – $521.0K
NOI $31,258 @ 7.0% cap · market cap 8.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
474
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 86442, AZ
34,171
Population
19,581
Households
1.7
Avg Household Size
53
Median Age
14%
College-Educated
85%
High-School Grad
28.2 sq mi
ZIP Area
1,212
Density / Sq Mi
$45,486
Median Household Income
$28,702
Median Earnings
$1,000
Median Rent
$174,400
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?
Medical Office Space - Fully leased medical office space with stable, escalating income.
Where is this medical office space located?
The property is located at 2585 Miracle Mile Suite 120 Bullhead City, AZ.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: Fully leased medical office providing stable income.; Established Med/Spa tenant with a long‑term lease and annual rent escalations.; Located in Colorado Place, a professionally managed 100,000 sq ft mixed‑use property.
