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Property profile & analytics
OFF-MARKET
Estimated value
$1,820,000
Medical Office Space
16620 40th St Ste F Phoenix, AZ 85032-3336
Entity Owned
8-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US07-0383649
Property summary
AI-generated overview
This exceptional Phoenix medical office complex, located at 16620 N 40th St, 85032, offers a unique investment opportunity. The property consists of nine single-story buildings totaling 55,704 square feet, classified as Class B. Three suites are currently available, ranging from a minimum of 1,733 square feet to a maximum contiguous space of 2,687 square feet. A total of 6,881 square feet is currently vacant. The property features ample covered and surface parking to accommodate tenants and their clients. The location is highly desirable, situated adjacent to the Abrazo Scottsdale Campus, providing excellent visibility and accessibility. The buildings boast a generous open feel with minimal shared common areas. Potential tenants can benefit from available build-out allowances, as well as building and monument signage opportunities. This property is ideal for medical practices seeking a well-maintained, conveniently located space with excellent parking and visibility in a thriving medical corridor of Maricopa County, Arizona. The property is comprised of multiple tenancies within the nine buildings.
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1984
Construction
STEEL FRAME
Total area
5,288 SF
Lot
0.56 ac (24,484 SF)
Zoning code
C-O
APN
214-33-130
UPID
US07-0383649
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Steven S. Sabatino DDS, MS, PLLC Dental Office
-
Cesar Villarreal, MD Physician
-
Jun Zhong, MD Physician
-
Michael Lavarnway, DO Physician
-
Priti Patel, MD Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.84M
Blend (final)
Blend
$1.82M
Owner & transaction history
Mpcw Pv Owner LLC · 8 yrs held
Mpcw Pv Owner LLC
since 2018
6 recorded transactions
Zoning & alternative use
C-O · Phoenix, AZ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$2.8M
+101.2%
Auto repair, garage
$2.2M
+59.2%
Office building
$1.6M
+13.9%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Phoenix submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Phoenix submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
MEDICAL BUILDING
$1,405,000
Current use
RESTAURANT
$2,825,000
Change: +101% · Conversion: Difficult
AUTO REPAIR, GARAGE
$2,235,000
Change: +59% · Conversion: Difficult
OFFICE BUILDING
$1,600,000
Change: +14% · Conversion: Easy
RETAIL STORES
$1,485,000
Change: +6% · Conversion: Difficult
WAREHOUSE, STORAGE
$1,370,000
Change: -2% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$1,345,000
Change: -4% · Conversion: Difficult
Blend value · Realmo final
$1.82M
Range $1.64M – $2.00M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$344 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$10,386
Tax year 2023
Assessed value
$233,574
Assessed 2024
Previous assessed
$198,747
+17.5% YoY
Effective rate
4.45%
On assessed value
Land market value
$283,100
Improvement market value
$1,132,500
Total market value
$1,415,600
Applied tax rate
691,300.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
1984
Construction
STEEL FRAME
Heating
PACKAGE
Cooling
YES
Stories
1
Total area
5,288 SF
Lot
0.56 ac (24,484 SF)
Zoning code
C-O
APN
214-33-130
UPID
US07-0383649
Jurisdiction
MARICOPA
Zoning & alternative use
C-O · Phoenix, AZ
Zoning C-O · permitted uses
C-O · Phoenix, AZ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Phoenix. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
MEDICAL BUILDING Current
Est. value
$1.4M
RESTAURANT
Est. value
$2.8M
AUTO REPAIR, GARAGE
Est. value
$2.2M
OFFICE BUILDING
Est. value
$1.6M
RETAIL STORES
Est. value
$1.5M
WAREHOUSE, STORAGE
Est. value
$1.4M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.3M
MEDICAL BUILDING Current
RESTAURANT
AUTO REPAIR, GARAGE
OFFICE BUILDING
RETAIL STORES
WAREHOUSE, STORAGE
NEIGHBORHOOD: SHOPPING CENTER
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1984
Construction
STEEL FRAME
Heating
PACKAGE
Cooling
Yes
Stories
1
Lot
0.56 ac
Current owner
From public records · entity-resolved
Mpcw Pv Owner LLC
Entity
Mailing address
30 RAGSDALE DR STE #120, MONTEREY, CA 93940-5772
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2018
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 18, 2018
$9,825,000
Mpcw Pv Owner LLC
Next Gen Pv Medical LLC
Trustees Deed
$7,800,000 · Private Individual
Oct 24, 2013
$4,050,000
Next Gen Pv Medical LLC
Bscms Series 2006-top22
Grant Deed
$3,000,000 · Bankers Trust Co
Nov 15, 2012
$4,000,000
Us Bank NA Series 2006-top22
Ghidotti Michelle
Trustees Deed
related
—
Feb 7, 2006
$8,650,000
Vj 14th Street LLC
Las Palmas Medical & Dental Plaza L
Special Warranty Deed
$5,700,000 · Wells Fargo Bank NA
Jun 21, 1999
$6,200,000
Las Palmas Medical & Dental
Johnson Trust
Grant Deed
—
Aug 1, 1997
—
Johnson Trust
Las Dental Plaz L L C
Grant Deed
related
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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