For Sale
$2,950,000

5750 Thunderbird RdGlendale, AZ 85306

6,516 SF Medical Office, 5.93% Cap Rate

Overview

Added:
Dec 11, 2024
Days on market:
116
This exceptional investment opportunity presents a single-tenant, 6,516-square-foot medical office building situated on a 0.68-acre lot in Glendale, Arizona. The property, built in 2001 and boasting a Class B rating, is currently 100% occupied by HonorHealth Cancer Center Glendale under a lease expiring July 31, 2025. The lease, initiated January 1, 2002, features rent bumps and provides a substantial income stream until lease expiration. The building offers ample parking (6.6 spaces per 1,000 sq ft) and is strategically located at 5750 W Thunderbird Road, Building C, 85306, across from Banner Thunderbird Medical Center. The asking price is $2,950,000, representing a compelling $452.73 per square foot and a 5.93% capitalization rate based on a projected 2024 Net Operating Income (NOI) of $175,000. The interior features a spacious waiting room (approximately 42 chairs), eight exam rooms (including one procedure room), four restrooms, four medical assistant stations, a clean room, a lab, a triage room, a large (approximately 885 sq ft) infusion room, a biohazard closet, six private offices with windows, a large break room with windows, a staff entrance/exit, an IT room, a storage room, and a medication closet. The space could potentially be subdivided. The property's Maricopa County Parcel Number is 200-74-710b. This presents a strong value-add opportunity for an owner/user or investor seeking a prime medical office location in a thriving healthcare market.

Highlights

  • Strong projected NOI of approximately $175,000 in 2024, inclusive of property management fees.
  • Current income stream secured through July 2025 with HonorHealth Cancer Center Glendale as tenant.

Property Details for 5750 Thunderbird Rd

Property type
Office properties, Medical offices
Square Feet
6,516 SF
Class
B
Year Built
2001
Buildings
1
Stories
1
Lot Size (sq. ft)
29,621 SF

Location Insight

City
Glendale
County
Maricopa
State
Arizona
Latitude
33.6126508
Longitude
-112.1829997
5750 Thunderbird Rd, Glendale, Arizona

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5750 Thunderbird Rd
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