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

    9250 W Thomas Rd Phoenix, AZ 85037

    • Medical Office Space
    • 81,602 SF
    • 5.28 lot acres
    For Lease
    View listing
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US07-0988859
    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

    • Phoenix Children's Hospital Ophthamology / Physician
    • Southwest VA Clinic / Medical Clinic
    • VA Clinic - Southwest Phoenix / Medical Clinic
    • Estrella Health Center / Medical Clinic
    • Haider Zafar MD / Physician

    Property Details for 9250 W Thomas Rd

    Year built
    2008
    Construction
    STEEL FRAME
    Lot size
    5.28 lot acres
    Property size
    81,602 SF
    Zone code
    GCP
    Property type
    Medical Office Space
    Property subtype
    Medical centers
    APN
    102-26-007
    APU
    10226007

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $32,196,000
      Market price range: $12.8M - $32.2M
      AI Estimate
      $31,604,000
      Market price range: $12.1M - $31.6M

    • Alternative Use

      Use
      Estimation
      MEDICAL BUILDING
      $21,660,000
      Current use
      RESTAURANT
      $43,575,000
      Change: +101% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $34,480,000
      Change: +59% Conversion: Difficult
      OFFICE BUILDING
      $24,490,000
      Change: +13% Conversion: Easy
      RETAIL STORES
      $24,315,000
      Change: +12% Conversion: Difficult
      WAREHOUSE, STORAGE
      $21,180,000
      Change: -2% Conversion: Difficult
      NEIGHBORHOOD: SHOPPING CENTER
      $20,770,000
      Change: -4% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Phoenix
    County
    Maricopa
    State
    Arizona
    Longitude
    -112.259
    Latitude
    33.4804
    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
    $335,166
    $0.00
    $0.00
    $4,450,485
    -
    $1,961,700
    $25,010,938
    $26,972,638

    Comparable in this City

    • Value Estimation
      $755,000
      4,932 SF

      9150 Indian School Rd Ste, Unit 111

      MEDICAL BUILDING • 4,932 SF
      9150 Indian School Rd Ste, Phoenix, AZ 85037-2384
      View Details
    • Value Estimation
      $755,000
      4,932 SF

      9150 Indian School Rd Ste, Unit 112

      MEDICAL BUILDING • 4,932 SF
      9150 Indian School Rd Ste, Phoenix, AZ 85037-2384
      View Details
    • Value Estimation
      $755,000
      4,932 SF

      9150 Indian School Rd Ste, Unit 125

      MEDICAL BUILDING • 4,932 SF
      9150 Indian School Rd Ste, Phoenix, AZ 85037-2388
      View Details
    • Value Estimation
      $755,000
      4,932 SF

      9150 Indian School Rd Ste, Unit 128

      MEDICAL BUILDING • 4,932 SF
      9150 Indian School Rd Ste, Phoenix, AZ 85037-2388
      View Details
    • Value Estimation
      $1,260,000
      8,228 SF

      9515 Camelback Rd Ste, Unit 110

      MEDICAL BUILDING • 8,228 SF
      9515 Camelback Rd Ste, Phoenix, AZ 85037-1365
      View Details
    • Value Estimation
      $755,000
      4,932 SF

      9150 Indian School Rd Ste, Unit 117

      MEDICAL BUILDING • 4,932 SF
      9150 Indian School Rd Ste, Phoenix, AZ 85037-2387
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      60,113 SF

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      Development-ready pad site at a prominent intersection in Phoenix.
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      Medical Office Condo For Sale

      Fully built-out medical office condo with high visibility.
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    • $1,600,000
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      Medical Office For Sale

      Built-out medical office space available for sale.
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      Medical/Healthcare Office Space Available

      West valley location with convenient parking and signage options.
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      118,853 SF

      Class B Office Building For Sale

      Fully-leased multi-tenant office building with freeway visibility and frontage.
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      Phoenix Office/Retail Space For Sale

      Office and retail space available for sale in Phoenix, AZ.
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    Similar Nearby for Lease

    • Contact for pricing

      Medical Office Space Available

      Class A medical office building with 60,000 square feet.
      9321 W Thomas Rd, Phoenix, AZ 85037
      View Details
    • Contact for pricing

      Class A Medical Office Space

      Premium medical office space with direct hospital access.
      9305 W Thomas Rd, Phoenix, AZ 85037
      View Details
    • Contact for pricing
      4,790 SF

      Medical Office Near Banner Estrella

      Medical office space with freeway access and monument signage.
      9250 W Thomas Rd, Phoenix, AZ 85037
      View Details
    • Contact for pricing

      Prominent Office Space Available

      Office space for rent with high visibility and accessibility.
      1860 N 95Th Ln, Phoenix, AZ 85037
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    • Contact for pricing
      2,466 SF

      Retail Space Near Sam's Club

      Retail space with cross-access and connectivity to Sam’s Club.
      8430 W Mcdowell Rd, Phoenix, AZ 85037
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    • Contact for pricing
      1,317 SF

      Regional Shopping Center Retail Space

      Retail space in a regional shopping center with high visibility.
      9897 W Mcdowell Rd, Phoenix, AZ 85037
      View Details
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    Phoenix, AZ 85037
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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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