8921 Thomas RdPhoenix, AZ 85037

Property Details for 8921 Thomas Rd

Year built

2005

Construction

CONCRETE

Lot size

6.00 AC

Property size (Sq ft)

42,067 SF

Zone code

C-2

Property type

Healthcare properties

Property subtype

Medical offices

APN

102-37-015

APU

10237015

Description

Exceptional investment opportunity: a 42,067 square foot, single-story Class B medical office building in Phoenix, Arizona, presents a compelling investment proposition. This property boasts a strong 6.41% cap rate and a substantial net operating income (NOI) of $1,067,112. The building, constructed in 2005 and renovated in 2018, sits on a 5.43-acre lot and is currently 100% occupied by SimonMed Imaging under an absolute NNN lease with 8.8 years remaining. The lease includes attractive 3% annual rent bumps, providing a hedge against inflation. This mission-critical location for SimonMed's Arizona operations houses all HIPAA-required hard file data storage for their Arizona facilities, along with their main call center. Uniquely, it also includes warehouse space for equipment repair and maintenance. Its strategic location directly across from Banner Estrella Medical and Surgery Center, a major medical campus serving a large population, ensures consistent high traffic and demand. The property's high visibility and accessibility are further underscored by over 60,000 visits in the past year, according to Placer.ai data. The asking price is $16,660,000, translating to $396.03 per square foot. This presents a rare opportunity to acquire a stable, high-performing asset in a thriving medical market.

• CAP approach

  CAP return

  Valuation

  6%

  $10,078,366

  6.5%

  $9,303,107

  7%

  $8,638,599

• Comparable approach

  Method

  Valuation

  Relative Method

  $6,484,628

  Geo Method

  $6,484,628

• Alternative Use

  Use

  Valuation

  Residential

  $11,535,853

  Hospitality

  $10,566,779

  Educational

  $8,791,436

  Medical

  $9,093,787

  Retail

  $13,675,567

Location Insight

City

Phoenix

County

Maricopa

State

Arizona

Latitude

33.4787

Longitude

-112.254

CBSA code

38060

CBSA name

PHOENIX-MESA-SCOTTSDALE, AZ METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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