• 13634 N 93rd Ave, Peoria, AZ 85381

For Sale

Office

For Sale

This property is available for sale
0.06
Acres
$645,000
Sale Price
  • Total Building Size
    18,620 RSF
  • Overview

    Single-tenant medical office condo owner/user sale opportunity. This ±2,683-usable-square-foot medical office condo is located at 13634 N 93rd Avenue, Suite 200, in Peoria, Arizona.


    Offering price is $645,000 ($240.40 per square foot). Initial Cap rate is 8.4 percent. Year One NOI is $54,123.62.


    The property is currently leased by Dipti Patel, PLLC, dba Digestive Health Clinic, through December 31, 2021. Tenant indicated they will be vacating at lease expiration.


    The property is in the Arrowhead submarket, which extends as far north as Lake Pleasant, although the majority of office product is clustered near Loop 101 in the Arrowhead area of Glendale and Peoria.


    The proximity to elder populations in the Sun City and Surprise areas has made Arrowhead popular with medical tenants, as over half of Arrowhead’s office stock is medical space. Arrowhead has been a relatively liquid submarket and prices have risen to all-time highs.


    There are numerous hospital systems surrounding the Arrowhead area. The closest to the subject property is Banner Boswell, which has 501 beds, including those within Banner Boswell Rehabilitation Center.


    Banner Thunderbird is the next closest, just five miles east of the subject property. This hospital opened in 1983 as a non-profit and currently has 555 beds and growing. They recently completed a $290 million expansion project which added numerous amenities as well as an additional 200-bed patient tower.


    Abrazo Arrowhead Hospital is approximately six miles away. It opened in 1988. and has changed ownership a few times over the years. It currently is a 262-bed short term acute care hospital.

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Property Details

Ideal Owner-User Medical Office Condo for Sale with Income through 2021

Single-tenant medical office condo owner/user sale opportunity. This ±2,683-usable-square-foot medical office condo is located at 13634 N 93rd Avenue, Suite 200, in Peoria, Arizona.


Offering price is $645,000 ($240.40 per square foot). Initial Cap rate is 8.4 percent. Year One NOI is $54,123.62.


The property is currently leased by Dipti Patel, PLLC, dba Digestive Health Clinic, through December 31, 2021. Tenant indicated they will be vacating at lease expiration.


The property is in the Arrowhead submarket, which extends as far north as Lake Pleasant, although the majority of office product is clustered near Loop 101 in the Arrowhead area of Glendale and Peoria.


The proximity to elder populations in the Sun City and Surprise areas has made Arrowhead popular with medical tenants, as over half of Arrowhead’s office stock is medical space. Arrowhead has been a relatively liquid submarket and prices have risen to all-time highs.


There are numerous hospital systems surrounding the Arrowhead area. The closest to the subject property is Banner Boswell, which has 501 beds, including those within Banner Boswell Rehabilitation Center.


Banner Thunderbird is the next closest, just five miles east of the subject property. This hospital opened in 1983 as a non-profit and currently has 555 beds and growing. They recently completed a $290 million expansion project which added numerous amenities as well as an additional 200-bed patient tower.


Abrazo Arrowhead Hospital is approximately six miles away. It opened in 1988. and has changed ownership a few times over the years. It currently is a 262-bed short term acute care hospital.

  • Property Type
    Office
  • Submarket
  • Sale Price
    $645,000
  • Total Building Size
    18,620RSF
  • Total Acres
    0.06
  • Building Class
    B
  • Zoning
    C-2
  • Sale Status
    Available
  • Last updated
    Aug 12, 2020
  • Property ID
    2013904

Landlord's Sales Representatives

  • Philip Wurth
    Colliers | Scottsdale
     
  • Alexandra Loye
    Colliers | Phoenix