1620 48Th StPhoenix, AZ 85008

Property Details for 1620 48Th St

Year built

2002

Construction

CONCRETE

Lot size

0.47 AC

Property size (Sq ft)

6,233 SF

Zone code

C-2

Property type

Assisted living facilities

Property subtype

Retirement homes

APN

126-10-125D

APU

12610125D

Description

This exceptional Class A medical office building, totaling 6,233 square feet, presents a unique investment opportunity in Phoenix, Arizona. Situated on a 27,443 square foot lot at 1620 N 48th St, 85008, this single-story building boasts 8 ensuite residential care rooms with potential for expansion to 10 rooms. Built in 2002 and renovated in 2019, the property features five private offices, two conference rooms, two nursing stations, a kitchen, walk-in pantry, laundry facilities, public restrooms, a foyer, and a large central great room with a dining area. The property includes 20 parking spaces, including covered options, and benefits from its location adjacent to the Old Crosscut Canal green belt. Currently operating at 100% occupancy under a NNN lease (expiring 09/30/2024), this sale-leaseback opportunity offers a strong return on investment. The lease is currently being written to an entity related to the owners

• CAP approach

  CAP return

  Valuation

  6%

  $1,677,535

  6.5%

  $1,548,494

  7%

  $1,437,887

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,104,940

  Geo Method

  $1,104,940

• Alternative Use

  Use

  Valuation

  Residential

  $1,964,330

  Hospitality

  $1,799,315

  Educational

  $1,497,009

  Medical

  $1,548,494

  Retail

  $2,328,681

Location Insight

City

Phoenix

County

Maricopa

State

Arizona

Latitude

33.4664

Longitude

-111.979

CBSA code

38060

CBSA name

PHOENIX-MESA-SCOTTSDALE, AZ METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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