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Property summary
This exceptional Class A medical office building, totaling 6,233 square feet, presents a unique investment opportunity in Phoenix, Arizona. Situated on a 27,443 square foot lot at 1620 N 48th St, 85008, this single-story building boasts 8 ensuite residential care rooms with potential for expansion to 10 rooms. Built in 2002 and renovated in 2019, the property features five private offices, two conference rooms, two nursing stations, a kitchen, walk-in pantry, laundry facilities, public restrooms, a foyer, and a large central great room with a dining area. The property includes 20 parking spaces, including covered options, and benefits from its location adjacent to the Old Crosscut Canal green belt. Currently operating at 100% occupancy under a NNN lease (expiring 09/30/2024), this sale-leaseback opportunity offers a strong return on investment. The lease is currently being written to an entity related to the owners
Property profile
VerifiedCap rate & NOI
Current use
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Nursing Home
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Physician Medical Clinic
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Nursing Home
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Physician Medical Clinic
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Physician Medical Clinic
Location
Value estimations
Owner & transaction history
Zoning & alternative use
The purpose C-2 zone is to provide commercial uses of medium intensity designed to be compatible with each other and to provide for a wide range of types of commercial activity within the district
Comparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
from $99/month
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
from $99/month
Derived from the Phoenix market rent, vacancy and expense benchmarks for this use type.
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Property tax & assessments
Tax year 2023Property description
Physical attributes from public recordsZoning & alternative use
C-2 · Phoenix, AZThe purpose C-2 zone is to provide commercial uses of medium intensity designed to be compatible with each other and to provide for a wide range of types of commercial activity within the district
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
Official district profile
The purpose C-2 zone is to provide commercial uses of medium intensity designed to be compatible with each other and to provide for a wide range of types of commercial activity within the district
What can be built and operated here — officially.
The district profile from the municipal source: what is on file for C-2 in Phoenix, AZ.
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Find the owner behind the property.
Unlock the evidence behind ownership: portfolio, transactions, debt and signals that help you decide who to contact next.
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