20325 51St AveGlendale, AZ 85308

Property Details for 20325 51St Ave

Lot size

5.33 AC

Zone code

C-O/M-O

Property type

Office properties

APN

206-29-050

APU

20629050

Description

This exceptional investment opportunity presents a 3,339 square foot medical/traditional office condo in Glendale, Arizona. Located at 20325 N 51st Ave, 85308, this property boasts a strong 6.50% cap rate and a Net Operating Income (NOI) of $82,389. Built in 2006, the property is currently occupied under a new, triple-net (NNN) lease commencing August 2024 and extending through July 2029. The lease includes a 3% annual rent increase, ensuring consistent income growth. The tenant, Advanced Pain Management, is responsible for all repairs and expenses, including HVAC, making this a low-maintenance investment. The property is part of a larger portfolio but can be purchased individually. The convenient location near Arrowhead Towne Center and Loop 101 freeway provides excellent visibility and accessibility. The property's Assessed Parcel Numbers (APN) are 206-29-029, 206-29-030, 206-29-031, and 206-29-032. Common area maintenance is handled by a homeowner's association. The asking price is $1,267,534, translating to $379.61 per square foot. This presents a compelling opportunity for investors seeking a stable, high-return medical office investment in a thriving Glendale location.

• CAP approach

  CAP return

  Valuation

  6%

  $43,850,180

  6.5%

  $40,477,088

  7%

  $37,585,868

• Comparable approach

  Method

  Valuation

  Relative Method

  $35,757,560

  Geo Method

  $35,757,560

• Alternative Use

  Use

  Valuation

  Residential

  $50,191,592

  Hospitality

  $45,975,228

  Educational

  $38,250,848

  Medical

  $39,566,356

  Retail

  $59,501,320

Location Insight

City

Glendale

County

Maricopa

State

Arizona

Latitude

33.67

Longitude

-112.168

CBSA code

38060

CBSA name

PHOENIX-MESA-SCOTTSDALE, AZ METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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