9002 Central AvePhoenix, AZ 85020

Property Details for 9002 Central Ave

Year built

1982

Construction

CONCRETE

Lot size

0.32 AC

Property size (Sq ft)

6,880 SF

Zone code

C-2

Property type

Office properties

Property subtype

Office buildings

APN

159-48-061

APU

15948061

Description

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.

• CAP approach

  CAP return

  Valuation

  6%

  $1,123,434

  6.5%

  $1,037,016

  7%

  $962,943

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,060,552

  Geo Method

  $1,060,552

• Alternative Use

  Use

  Valuation

  Residential

  $1,285,900

  Hospitality

  $1,177,877

  Educational

  $979,980

  Medical

  $1,013,683

  Retail

  $1,524,413

Location Insight

City

Phoenix

County

Maricopa

State

Arizona

Latitude

33.568

Longitude

-112.074

CBSA code

38060

CBSA name

PHOENIX-MESA-SCOTTSDALE, AZ METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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