For Sale
$1,999,000

9002 Central AvePhoenix, AZ 85020

Prime Medical Office, 10-Year Lease

Overview

Added:
Dec 11, 2024
Days on market:
117
This exceptional investment opportunity presents a 6,880 square foot, Class C medical office building located at 9002 N Central Ave, Phoenix, AZ 85020. The property, built in 1982 and extensively renovated in 2024, sits on a 0.31-acre lot and boasts 24 parking spaces. Currently operating under a 10-year absolute NNN lease with a single tenant, this sale-leaseback opportunity offers a strong 5.27% cap rate and a substantial net operating income (NOI) of $105,255. The lease includes 5% rent bumps every 5 years and three 5-year renewal options, ensuring long-term stability and predictable income growth. The property is zoned C-2 and features a two-story building with a 100% occupancy rate. The asking price is $1,999,000, translating to a price per square foot of $312.50. This is a rare chance to acquire a well-maintained, fully occupied medical office building in a desirable Phoenix location with significant upside potential. The property's strong tenant, long-term lease, and favorable financial metrics make it an attractive addition to any investment portfolio. The APN is 159-48-061.

Highlights

  • Single-tenant medical office building.
  • 6,880 square feet.
  • 13,885 square foot lot (0.31 acres).
  • Built in 1982, renovated in 2024.
  • 24 parking spaces.
  • C-2 zoning.

Property Details for 9002 Central Ave

Property type
Office properties, Medical offices
Square Feet
6,880 SF
Class
C
Year Built/Renovated
1982/2024
Buildings
1
Stories
2
Lot Size (sq. ft)
13,504 SF

Location Insight

City
Phoenix
County
Maricopa
State
Arizona
Latitude
33.5636878
Longitude
-112.0595603
9002 Central Ave, Phoenix, Arizona

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9002 Central Ave
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