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    Property profile & analytics

    5757 W Thunderbird Rd Glendale, AZ 85306

    • Medical Office Space
    • 43,009 SF
    • 4.69 lot acres
    For Lease
    View listing
    Last Sale
    Dec 26, 2023
    $13,500,000
    Value Estimations
    $15,375,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US07-1317628
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Medical Area / Hospital
    • Kids Dental AZ / Dental Office
    • Geoffrey T. Hutchinson, PHD / Physician / Medical Clinic
    • Robert A. Block, PhD / Physician / Medical Clinic
    • Irwin Grossman Jr, PHD / Physician / Medical Clinic

    Property Details for 5757 W Thunderbird Rd

    Year built
    1984
    Construction
    STEEL FRAME
    Lot size
    4.69 lot acres
    Property size
    43,009 SF
    Zone code
    C-2
    Property type
    Medical Office Space
    Property subtype
    Medical centers
    APN
    200-75-937
    APU
    20075937

    Description

    This exceptional Glendale, Arizona medical office building, located at 5757 W Thunderbird Rd, zip code 85306, offers a significant opportunity for medical professionals seeking flexible and spacious accommodations. The property boasts a total of 49,342 square feet, with a substantial 44,784 square feet currently vacant and available for lease. The building is classified as both retail and office space, specifically designated as a medical office building, and features multiple tenancies. This allows for a variety of leasing options to suit diverse needs. Individual suites range from a minimum of 940 square feet to a maximum contiguous space of 4,558 square feet, providing ample room for practices of all sizes. The building's location in Maricopa County ensures convenient access to major transportation routes and a thriving patient base. This is an ideal opportunity to establish or expand a medical practice in a prime Glendale location. The property is ready for immediate occupancy, offering a chance to secure a prominent presence in a bustling commercial area. Contact us today to learn more about leasing options and explore the possibilities this exceptional medical office space presents.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $16,890,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $10,565,000
      6.5%
      $9,750,000
      7%
      $9,055,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $16,491,000
      Market price range: $2.49M - $16.5M
      AI Estimate
      $16,491,000
      Market price range: $2.49M - $16.5M

    • Alternative Use

      Use
      Estimation
      MEDICAL BUILDING
      $9,660,000
      Current use
      AUTO REPAIR, GARAGE
      $18,840,000
      Change: +95% Conversion: Difficult
      OFFICE BUILDING
      $13,765,000
      Change: +42% Conversion: Easy
      COMMERCIAL (GENERAL)
      $13,185,000
      Change: +36% Conversion: Easy
      NEIGHBORHOOD: SHOPPING CENTER
      $12,430,000
      Change: +29% Conversion: Difficult
      RETAIL STORES
      $11,430,000
      Change: +18% Conversion: Difficult

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Glendale
    County
    Maricopa
    State
    Arizona
    Longitude
    -112.183
    Latitude
    33.6097
    CBSA code
    38060
    CBSA name
    PHOENIX-MESA-SCOTTSDALE, AZ METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $54,585
    $0.00
    $0.00
    $4,943,361
    -
    $3,401,100
    $26,558,661
    $29,959,761

    Comparable in this City

    • Value Estimation
      $750,000
      7,603 SF

      5620 Thunderbird Rd

      MEDICAL BUILDING • 7,603 SF
      5620 Thunderbird Rd, Glendale, AZ 85306-4636
      View Details
    • Value Estimation
      $840,000
      7,603 SF

      5620 Thunderbird Rd

      MEDICAL BUILDING • 7,603 SF
      5620 Thunderbird Rd, Glendale, AZ 85306-4636
      View Details
    • Value Estimation
      $750,000
      7,603 SF

      5620 Thunderbird Rd

      MEDICAL BUILDING • 7,603 SF
      5620 Thunderbird Rd, Glendale, AZ 85306-4636
      View Details
    • Value Estimation
      $750,000
      7,603 SF

      5620 Thunderbird Rd

      MEDICAL BUILDING • 7,603 SF
      5620 Thunderbird Rd, Glendale, AZ 85306-4636
      View Details
    • Value Estimation
      $1,350,000
      7,603 SF

      5620 Thunderbird Rd

      MEDICAL BUILDING • 7,603 SF
      5620 Thunderbird Rd, Glendale, AZ 85306-4636
      View Details
    • Value Estimation
      $750,000
      7,603 SF

      5620 Thunderbird Rd

      MEDICAL BUILDING • 7,603 SF
      5620 Thunderbird Rd, Glendale, AZ 85306-4636
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      42,478 SF

      Medical Office Complex For Sale

      Four-building medical office complex with suites available for purchase.
      16222 N 59Th Ave, Glendale, AZ 85306
      View Details
    • $588,000
      Pending

      Medical Office Space For Sale

      Medical office suite for sale near Banner Thunderbird Medical Center.
      5620 W Thunderbird Rd, Glendale, AZ 85306
      View Details
    • $2,805,000
      6,600 SF

      Glendale Office Building For Sale

      6,600 SF office building in Glendale, Arizona.
      6677 W Thunderbird Rd, Glendale, AZ 85306
      View Details
    • New
      $170,000
      0.26 Acres

      Glendale Land For Sale

      Glendale lot suitable for single-family or manufactured home development.
      16047 N 67Th Ave, Glendale, AZ 85306
      View Details
    • $3,493,947

      Glendale Commercial Land Available

      Commercial land with utilities in Glendale, Arizona.
      5650 W Beverly Ln, Glendale, AZ 85306
      View Details
    • Contact for pricing

      Greenway Plaza Retail Opportunity

      Retail spaces available in a well-established, high-traffic location.
      5830 W Greenway Rd, Glendale, AZ 85306
      View Details

    Similar Nearby for Lease

    • $30 SF/Yr
      15,996 SF

      Thunderbird Medical Plaza: Glendale Office Space

      Glendale medical office suites, prime location.
      5310 Thunderbird Rd, Glendale, AZ 85306
      View Details
    • $27 SF/Yr
      31,329 SF

      Glendale Medical Office Space for Lease

      Modern Medical Office Suite - Available October 1st
      5422 Thunderbird Rd, Glendale, AZ 85306
      View Details
    • $26 SF/Yr
      3,690 SF

      Glendale Medical Office Space

      Prime Glendale medical office, 3,690 sq ft.
      5750 Thunderbird Rd, Glendale, AZ 85306
      View Details
    • Contact for pricing
      1,603 SF

      Medical Office Space For Lease

      Medical office space available within Banner Thunderbird Medical Campus.
      5757 W Thunderbird Rd, Glendale, AZ 85306
      View Details
    • Contact for pricing
      6,077 SF

      Glendale Medical Office Space

      Medical office space available for lease in Glendale, Arizona.
      5620 W Thunderbird Rd, Glendale, AZ 85306
      View Details
    • Contact for pricing

      Renovated Retail and Office Center

      High-visibility retail and office spaces near ASU West Campus.
      5111-5159 N 51St Ave, Glendale, AZ 85306
      View Details
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    Glendale, AZ 85306
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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