15800 Litchfield RdSurprise, AZ 85379

Property Details for 15800 Litchfield Rd

Year built

2017

Property size (Sq ft)

14,815 SF

Property type

Healthcare properties

Property subtype

Medical offices

APN

501-18-678

APU

50118678

Description

Exceptional investment opportunity: Marketplace at the City, a premier single-story medical office building, presents a compelling investment prospect. Located at 15800 N Litchfield Rd in Surprise, Arizona (zip code 85379, Maricopa County), this 26,200 square foot building sits on a 3.26-acre lot. Constructed in 2017, the property features a single, one-story building with three units and is currently 100% occupied, with an occupancy date extending to November 19, 2024. The property boasts a strong Net Operating Income (NOI) of $735,096, and an asking price of $11,852,000. The building is zoned PAD and features a weighted average lease term (WALT) of 7.1 years. A key tenant is Banner Health, a major Arizona health system, providing stability and strong rental income. This stabilized investment offers a significant return on investment with its prime location, high occupancy rate, and reputable tenant base. The property's APN is 501-18-545. This is a rare opportunity to acquire a high-performing medical office building in a thriving Arizona market.

• CAP approach

  CAP return

  Valuation

  6%

  $7,877,247

  6.5%

  $7,271,305

  7%

  $6,751,926

• Comparable approach

  Method

  Valuation

  Relative Method

  $5,672,071

  Geo Method

  $5,672,071

• Alternative Use

  Use

  Valuation

  Residential

  $9,016,418

  Hospitality

  $8,258,990

  Educational

  $6,871,383

  Medical

  $7,107,700

  Retail

  $10,688,818

Location Insight

City

Surprise

County

Maricopa

State

Arizona

CBSA code

38060

CBSA name

PHOENIX-MESA-SCOTTSDALE, AZ METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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