Renovated Medical Office
For Sale
$999,000
H-3-5620 W Thunderbird Rd, Glendale, AZ 85306
Patient rooms feature dedicated sinks and floor outlets, complemented by updated finishes and dual laundry hookups.
Property Size2,465 SF
Price / SF$405.27
Days on Market9
Property Features for H-3-5620 W Thunderbird Rd
General Information
Standard status
Active
Size
2,465 SF
Elevators
No
Taxes and HOA fees
Annual Taxes
$5,171
Building Details
Stories
1
Listing Agency:
1912 Realty
(480) 516-0555
Listed By:
Lloyd C Fox
(602) 418-1153
Source:
Exprealty
Added: Sep 4
Changed: Sep 12
Last Checked: Sep 12 at 2:59PM
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 1912 Realty
Investment Insights
Based on property information with market context.
This 2,465-square-foot medical office suite has been substantially refreshed with new bathrooms, vinyl wood-look flooring, cabinetry, paint, and other interior improvements. Patient rooms include sinks and floor outlets, while dual washer/dryer hookups add functional support space. The suite is identified as H-3 within a single-level complex, eliminating elevator access and maintenance requirements. The property also avoids the need to maintain common lobbies.
Positioned at the north end of the complex, the suite offers convenient access to abundant parking. Its interior placement provides separation from vehicular noise and supports energy efficiency. The location is near Banner Thunderbird, adding relevance for medical, dental, and healthcare users.
Positioned at the north end of the complex, the suite offers convenient access to abundant parking. Its interior placement provides separation from vehicular noise and supports energy efficiency. The location is near Banner Thunderbird, adding relevance for medical, dental, and healthcare users.
Key Highlights
- 2,465‑square‑foot medical office suite
- Updated bathrooms, flooring, cabinetry, paint, and other interior improvements
- Patient rooms equipped with sinks and floor outlets
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
$37,825
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
3.79%
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%
$756,500
$756.5K
Cap Rate 7%
$540,357
$540.4K
Cap Rate 9%
$420,278
$420.3K
Market Conditions
NOI Build-Up for 2,465 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
$65.1K $26.40/SF
− Vacancy
−$14.6K −$5.94/SF
EGI
$50.4K $20.46/SF
− OpEx
−$12.6K −$5.12/SF
NOI
$37.8K $15.35/SF
Area
Glendale, AZ
Vacancy
22.50%
Lease Rate
$26.40 /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%
$756,500
Cap Rate 7%
$540,357
Cap Rate 9%
$420,278
Alternative Uses
Best Use
Office B
$540.4K
$472.8K – $630.4K
NOI $37,825 @ 7.0% cap · market cap 3.79%
Second Best
Healthcare Medical
$519.0K
$454.1K – $605.5K
NOI $36,330 @ 7.0% cap · market cap 3.64%
Theoretical Best
Office A
$774.3K
$677.5K – $903.3K
NOI $54,200 @ 7.0% cap · market cap 5.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
429
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 85306, AZ
25,663
Population
9,587
Households
2.7
Avg Household Size
38
Median Age
24%
College-Educated
91%
High-School Grad
5.9 sq mi
ZIP Area
4,350
Density / Sq Mi
$82,060
Median Household Income
$41,596
Median Earnings
$1,666
Median Rent
$342,000
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Similar Off Market Nearby
- Michelle L. Porter, D.V.M. — 5032 W Thunderbird Rd, Glendale, AZ 85306
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- Sunburst Animal Hospital: Oyan Heather DVM — 5032 W Thunderbird Rd, Glendale, AZ 85306
- Jessica A. Reed, D.V.M — 5032 W Thunderbird Rd, Glendale, AZ 85306
- Blackwell Kellee J DVM — 5032 W Thunderbird Rd, Glendale, AZ 85306
Frequently Asked Questions
What type of property is this?
Medical Office Space - Patient rooms feature dedicated sinks and floor outlets, complemented by updated finishes and dual laundry hookups.
Where is this medical office space located?
The property is located at H-3-5620 W Thunderbird Rd Glendale, AZ.
What is the asking price?
The asking price for this property is $999,000.
What are key features of this property?
This property features: 2,465‑square‑foot medical office suite; Updated bathrooms, flooring, cabinetry, paint, and other interior improvements; Patient rooms equipped with sinks and floor outlets
