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Property profile & analytics
FOR LEASE
Medical Office Space
4530 East Ray Rd Phoenix, AZ 85044
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US07-0097876
For Lease
$24 SF/Yr
4530 East Ray Rd, Phoenix, AZ 85044
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Property summary
AI-generated overview
This exceptional medical office building, located at 4530 E Ray Rd in Phoenix, Arizona, presents a unique leasing opportunity. The property, known as Foothills Health Center, boasts a total of 45,130 square feet and sits on a generous 7.2-acre lot. Built in 1994 and renovated in 2001, the building offers ample parking with a ratio of 5.4 spaces per 1,000 square feet. Currently, there are 2,377 square feet of vacant, fully built-out clinical space available for lease, ideal for immediate occupancy. The available space is divisible, with options ranging from approximately 2,662 to 3,825 square feet. The property is zoned C-2, Phoenix, and its Maricopa County APN is 301-58-901D. This prime location in Phoenix, AZ 85044 offers excellent visibility and accessibility. The building's modern design and convenient amenities make it an attractive option for medical professionals seeking a well-established and functional workspace. The property is perfect for a variety of medical practices seeking expansion or relocation. Don't miss this chance to secure your ideal medical office space in a thriving Phoenix location.
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1994
Construction
CONCRETE
Total area
47,945 SF
Lot
7.23 ac (314,765 SF)
Zoning code
C-2
APN
301-58-901D
UPID
US07-0097876
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
-
Tooth Gym - Ahwatukee Dental Office
-
Maricopa Obstetrics and Gynecology Associates Medical Clinic
-
Arizona Diagnostic Radiology Medical Clinic
-
Staci A. Mayer, MD, FACOG Physician
-
AZ Health Centers, PLLC Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$18.92M
Blend (final)
Blend
$18.00M
Owner & transaction history
Wsh Az Foothills LLC · 3 yrs held
Wsh Az Foothills LLC
since 2022
Last sale
$17.1M
4 recorded transactions
Zoning & alternative use
C-2 · Phoenix, AZ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
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
Zone name
Intermediate Commercial
General category
COMMERCIAL
Zone area
13,095.06 ac
Source
Realmo
Top alternative use upside
Restaurant
$25.6M
+101.2%
Auto repair, garage
$20.3M
+59.2%
Retail stores
$14.3M
+12.3%
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
$18,395,000
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
$12,725,000
Current use
RESTAURANT
$25,605,000
Change: +101% · Conversion: Difficult
AUTO REPAIR, GARAGE
$20,260,000
Change: +59% · Conversion: Difficult
RETAIL STORES
$14,285,000
Change: +12% · Conversion: Difficult
WAREHOUSE, STORAGE
$12,445,000
Change: -2% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$12,205,000
Change: -4% · Conversion: Difficult
Blend value · Realmo final
$18.00M
Range $16.20M – $19.80M · ±10% · vs last sale $17.06M (Dec 12 2022)
Last sale anchor
$17.06M
Dec 12 2022
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
$375 / 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
$164,053
Tax year 2023
Assessed value
$2,843,169
Assessed 2024
Previous assessed
$2,544,560
+11.7% YoY
Effective rate
5.77%
On assessed value
Land market value
$6,771,800
Improvement market value
$10,459,528
Total market value
$17,231,328
Applied tax rate
281,300.0000
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
For Lease
Year built
1994
Construction
CONCRETE
Heating
HEAT PUMP
Stories
1
Total area
47,945 SF
Lot
7.23 ac (314,765 SF)
Zoning code
C-2
APN
301-58-901D
UPID
US07-0097876
Jurisdiction
MARICOPA
Zoning & alternative use
C-2 · Phoenix, AZZoning C-2 · permitted uses
C-2 · Phoenix, AZ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
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
Zone name
Intermediate Commercial
General category
COMMERCIAL
Zone area
13,095.06 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
MEDICAL BUILDING Current
Est. value
$12.7M
RESTAURANT
Est. value
$25.6M
AUTO REPAIR, GARAGE
Est. value
$20.3M
RETAIL STORES
Est. value
$14.3M
WAREHOUSE, STORAGE
Est. value
$12.4M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$12.2M
MEDICAL BUILDING Current
RESTAURANT
AUTO REPAIR, GARAGE
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
1994
Construction
CONCRETE
Heating
HEAT PUMP
Stories
1
Lot
7.23 ac
Current owner
From public records · entity-resolved
Wsh Az Foothills LLC
Entity
Mailing address
2 SMT PARK DR STE #540, CLEVELAND, OH 44131-2590
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 12, 2022
$17,057,484
Wsh Az Foothills LLC
Foothills Medical Properties LP
Special Warranty Deed
$89,662,799 · Capital One Bank NA
Aug 1, 2017
$12,087,675
Foothills Medical Props LP
United Ins Co Of America
Grant Deed
$9,200,000 · Barclays Bk/plc
Jun 23, 2004
$10,000,000
United Insurance Co
Foothills Medical Building
Grant Deed
—
Jun 23, 2004
$1,675,000
United Insurance Co
Foothills Medical II Ll Cg
Grant Deed
—
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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