Property Details for 4014-4020 19Th Ave

Lot size

0.48 lot acres

Property size

8,615 SF

Property type

Office properties & Spaces

Property subtype

Medical Office Space

Description

This exceptional investment opportunity presents an 8,615-square-foot medical office building in Phoenix, Arizona, fully occupied by Grifols, a globally recognized plasma collection company, under a Net Lease agreement. The property boasts a strong 7.50% capitalization rate and a substantial Net Operating Income (NOI) of $183,500. The lease, originally commenced on June 30, 2016, and currently has approximately 2.4 years remaining, with a 1 x 3 year renewal option (RTM). Annual rent increases are tied to the CPI index of all-urban wage earners, providing built-in inflation protection. Grifols, a financially sound tenant with a 'B+' long-term issuer default rating from Fitch Ratings, provides a corporate guarantee. The building, renovated in 2008, sits on a 0.48-acre lot in a high-traffic area at the intersection of West Indian School Road (over 36,000 vehicles per day) and North 19th Avenue (over 25,000 vehicles per day). Its strategic location is proximate to major freeways, Grand Canyon University, Phoenix Sky Harbor International Airport, and St. Joseph's Hospital, benefiting from a dense population base exceeding 175,000 within a 3-mile radius and 466,215 within a 5-mile radius, with projected annual growth. The property's established history as a successful plasma center since 1992, coupled with the increasing global demand for plasma, makes this a secure and attractive investment. The asking price is $2,446,667, translating to $284 per square foot.

Location Insight

City

Phoenix

County

Maricopa

State

Arizona

Longitude

-112.1

Latitude

33.4938