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Property profile & analytics
FOR LEASE
Medical Office Space
5757 W Thunderbird Rd Glendale, AZ 85304
Entity Owned
2-yr Hold
Free & Clear
Property ID
US07-1317628
For Lease
1 / 2
$15,375,000
5757 W Thunderbird Rd, Glendale, AZ 85304
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Property summary
AI-generated overview
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.
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1984
Construction
STEEL FRAME
Total area
43,009 SF
Lot
4.69 ac (204,427 SF)
Zoning code
C-2
APN
200-75-937
UPID
US07-1317628
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
-
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$9.75M
Comparable Approach
Comparable
$16.49M
Blend (final)
Blend
$15.38M
Owner & transaction history
Banner Medical Group · 2 yrs held
Banner Medical Group
since 2023
Last sale
$13.5M
7 recorded transactions
Zoning & alternative use
C-2 · Glendale, AZ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$18.8M
+95.0%
Office building
$13.8M
+42.5%
Commercial (general)
$13.2M
+36.5%
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 Glendale submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Glendale 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
$16,890,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$10,565,000
6.5%
$9,750,000
7%
$9,055,000
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
Blend value · Realmo final
$15.38M
Range $13.84M – $16.91M · ±10% · vs last sale $13.50M (Dec 26 2023)
Last sale anchor
$13.50M
Dec 26 2023
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
$357 / 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
$54,585
Tax year 2023
Assessed value
$4,943,361
Assessed 2024
Previous assessed
$3,922,597
+26.0% YoY
Effective rate
1.10%
On assessed value
Land market value
$3,401,100
Improvement market value
$26,558,661
Total market value
$29,959,761
Applied tax rate
110,700.0000
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
1984
Construction
STEEL FRAME
Heating
PACKAGE
Cooling
YES
Buildings
2
Stories
4
Units
2
Total area
43,009 SF
Lot
4.69 ac (204,427 SF)
Zoning code
C-2
APN
200-75-937
UPID
US07-1317628
Jurisdiction
MARICOPA
Zoning & alternative use
C-2 · Glendale, AZ
Zoning C-2 · permitted uses
C-2 · Glendale, AZ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Glendale. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
MEDICAL BUILDING Current
Est. value
$9.7M
AUTO REPAIR, GARAGE
Est. value
$18.8M
OFFICE BUILDING
Est. value
$13.8M
COMMERCIAL (GENERAL)
Est. value
$13.2M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$12.4M
RETAIL STORES
Est. value
$11.4M
MEDICAL BUILDING Current
AUTO REPAIR, GARAGE
OFFICE BUILDING
COMMERCIAL (GENERAL)
NEIGHBORHOOD: SHOPPING CENTER
RETAIL STORES
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
4
Buildings
2
Units
2
Lot
4.69 ac
Current owner
From public records · entity-resolved
Banner Medical Group
Entity
Free & Clear · 2 yrs held
Mailing address
3710 E LOUISE DR, PHOENIX, AZ 85050-8313
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 26, 2023
—
Banner Medical Group
5757 West Thunderbird LLC
Lease
—
Dec 26, 2023
$13,500,000
5757 West Thunderbird LLC
Banner Health
Special Warranty Deed
$10,100,000 · Bmo Bank NA
Apr 19, 2018
—
Banner Health
Btmc Mob LLC
Quit Claim Deed
related
—
Jan 9, 2014
$15,500,000
Btmc Mob LLC
Western American Coml LLC
Grant Deed
—
Sep 30, 2005
$16,225,000
Wa Sunwest Acquisitions LLC
Sunwest Associates
Warranty Deed
$11,400,000 · Citigroup Global Markets Realty Cor
Sep 30, 2005
$18,100,000
Wa Sunwest 1 LLC
Wa Sunwest Acquisitions
Warranty Deed
—
May 17, 1993
—
Sunwest Associates
Schatzel Trust
Trustees Deed
$7,875,000 · Seller Carry Back
Dec 17, 1990
—
Schatzel Co-trus
Cornblum
Grant Deed
related
—
Feb 2, 1990
$12,350,000
Realaw Enterpris
Sunwest Medical
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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