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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    655 Dobson Rd Chandler, AZ 85224

    • Office buildings
    • 45,000 SF
    For Lease
    View listing
    $24 SF/Yr
    Last Sale
    Jun 13, 2024
    $7,300,000
    Value Estimations
    $7,300,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US07-0525025
    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

    • CHANDLER MEDICAL.DENTAL CENTER / Medical Clinic
    • Banner Physical Therapy - Chandler / Medical Clinic
    • Sun Life Health OB/GYN / Physician
    • Arizona Pain Management Clinic / Physician
    • Lilac Ob-Gyn / Physician

    Property Details for 655 Dobson Rd

    Year built
    2000
    Property size
    45,000 SF
    Property type
    Office buildings
    APN
    303-75-694
    APU
    30375694

    Description

    This exceptional Chandler medical office building, constructed in 2001, offers a prime opportunity for medical professionals seeking flexible and modern space. Located at 655 S Dobson Road, Building B, in the thriving city of Chandler, Arizona (zip code 85224), this property boasts a total of 22,537 square feet and features two suites available for lease. The building offers multiple tenancy options, with a minimum divisible space of 2,018 square feet and a maximum contiguous space of 2,112 square feet. Currently, there are 4,130 square feet of vacant space ready for immediate occupancy. The property provides convenient and ample parking, with a ratio of 5.9 parking spaces per 1,000 square feet. Situated in Maricopa County, this location offers excellent visibility and accessibility for patients and staff. The building's modern design and functionality make it an ideal setting for a variety of medical practices. This is a rare opportunity to secure high-quality medical office space in a desirable Chandler location. Contact us today to learn more about leasing options and schedule a viewing.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $7,300,000
      ML approach
      $7,300,000

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $9,750,000
      Current use
      MEDICAL BUILDING
      $10,675,000
      Change: +9% Conversion: Easy
      WAREHOUSE, STORAGE
      $8,460,000
      Change: -13% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Chandler
    County
    Maricopa
    State
    Arizona
    Longitude
    -111.8750047
    Latitude
    33.2945203
    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
    $63,404
    $0.00
    $0.00
    $785,681
    -
    $952,300
    $3,809,400
    $4,761,700

    Comparable in this City

    • Value Estimation by Request
      172,434 SF

      2595 Chandler Blvd

      OFFICE BUILDING • 172,434 SF
      2595 Chandler Blvd, Chandler, AZ 85224-4987
      View Details
    • Value Estimation
      $1,315,000
      4,128 SF

      2380 Ray Rd, Unit J102

      OFFICE BUILDING • 4,128 SF
      2380 Ray Rd, Chandler, AZ 85224-3635
      View Details
    • Value Estimation
      $1,035,000
      3,250 SF

      601 Alma School Rd

      OFFICE BUILDING • 3,250 SF
      601 Alma School Rd, Chandler, AZ 85224-3607
      View Details
    • Value Estimation
      $1,315,000
      4,128 SF

      2380 Ray Rd, Unit J101

      OFFICE BUILDING • 4,128 SF
      2380 Ray Rd, Chandler, AZ 85224-3635
      View Details
    • Value Estimation
      $930,000
      6,041 SF

      2490 Ray Rd, Unit F101

      OFFICE BUILDING • 6,041 SF
      2490 Ray Rd, Chandler, AZ 85224-3559
      View Details
    • Value Estimation
      $3,830,000
      30,273 SF

      Chandler, AZ 85224

      OFFICE BUILDING • 30,273 SF
      Chandler, AZ 85224
      View Details

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      Free Standing Retail Showroom

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    Similar Nearby for Lease

    • $22 SF/Yr
      2,828 SF

      Chandler Office Building For Lease

      Office building for lease in Chandler, located at Pecos & Dobson.
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      View Details
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      Chandler Office Space For Lease

      Office space available with freeway access and parking.
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      Class A Office Space Available

      Class A office building with retail, fitness center, and patio.
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    • Contact for pricing
      1,261 SF

      Chandler Medical/Office Space Available

      Medical and retail tenant mix in Chandler, Arizona.
      1076 W Chandler Blvd, Chandler, AZ 85224
      View Details
    • Contact for pricing
      1,093 SF

      Medical Office Space Near Hospital

      Office space near Chandler Regional Hospital, easy access to freeways.
      2081 W Frye Rd, Chandler, AZ 85224
      View Details
    • $25 SF/Yr
      3,684 SF

      Chandler Office Space Available

      Office space available for lease in Chandler, Arizona.
      600 S Dobson Rd, Chandler, AZ 85224
      View Details
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    655 Dobson Rd
    Chandler, AZ 85224
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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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