Property profile

1500 Ray Rd Chandler, AZ 85224

OFF-MARKET
Medical Office Space
Property ID
US07-0662628
8,708 SF 1.03 ac lot Built 2017
Entity Owned 11-yr Hold Absentee Owner ~ Est. High Equity
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Property profile

Verified
Property type Medical Office Space
Use group MEDICAL BUILDING
Year built 2017
Construction STEEL FRAME
Total area 8,708 SF
Lot 1.03 ac (45,025 SF)
Zoning code PAD
APN 302-91-764
UPID US07-0662628

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Eye Care Center
  • Medical Clinic
  • Ophthalmologist
  • Medical Clinic Hospital
  • Physician

Location

1500 Ray Rd Chandler, AZ 85224-0002
Chandler metro Census 523005 PHOENIX-MESA-SCOTTSDALE, AZ METROPOLITAN STATISTICAL AREA
Google Maps

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
$3.51M
Blend (final) Blend
$655k

Owner & transaction history

since 2015
5 recorded transactions
2019
Price N/A
2015
$333,000
2010
$155,000
1997
$104,900
1995
$166,516

Zoning & alternative use

PAD · Chandler, AZ
Zoning description

rezoning classification to be sought by, or to be applicable to, private interests for off-airport parcels or uses. Off-airport uses shall be considered under other zoning designations, such as Planned Area Development (…

General category RESIDENTIAL
Top alternative use upside
Neighborhood: shopping center $5.5M +167.6%
Restaurant $4.5M +118.8%
Retail stores $3.9M +90.5%

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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