In-patient acute care facility, consisting of ±73,196 square feet, is for sale or lease at 40 E. Indianola Avenue in Central Phoenix. This rare in-patient facility was formerly used as a long-term acute care (LTAC) hospital and has since gone through an extensive re-zoning process to add maximum zoning and use flexibility.
Contact broker to request the Offering Memorandum.
Nestled in the thriving Central Phoenix submarket, the property is located just southeast of East Indian School Road and North Central Avenue on the NWC of N 2nd Street and E Indianola Avenue. The property is in the heart of the Central Phoenix healthcare hub, with four major hospitals within a three-mile radius including the VA Hospital, Dignity Health’s St. Joseph’s Hospital, Phoenix Children’s Hospital and the largest hospital in Arizona—Banner University Medical Center.
The property includes an extensive amount of furniture, fixtures and equipment, all of which covey with the sale, allowing the new occupancy to begin operating soon after acquiring the asset.
The building is currently configured with 86 total beds comprised of 39 double-occupancy rooms, three single-occupancy rooms and five high-acuity beds in the intensive care unit wing located on floors three and four. A feasibility study was performed showing the ability to expand the bed count from 86 total beds to 124 total beds.
In addition to the 86 beds currently in the facility, the property includes physical therapy rooms, surgery center with one operating room, imaging suite, administrative offices, commercial kitchen with equipment in-place and a dining hall.
The property’s highly coveted zoning includes the following uses, which are uses allowed by right with no special use permit required.
In-patient acute care hospital
Psychiatric and behavioral health hospital
Neuropsychiatry and neuro behavioral health
In-patient and out-patient drug/alcohol rehab and drug/alcohol detox
Nursing home / senior housing
Hospice care
Residential community center
Group home
Dependent care facility for 13 or more dependents
Step-down facility
Laboratory
Pharmacy
All other uses approved under R-5 zoning district (city of Phoenix)
Building has expansion capability
Previous use: long-term acute care (LTAC) hospital
Power: on-site back-up generator & diesel-powered fuel tank
