Office Medical
4702 North 51st Avenue
4702 N 51st Ave, Phoenix, AZ 85031
Listing Price: $1,310,200
Investment Overview
Marcus & Millichap is pleased to offer the opportunity to acquire 4702 North 51st Avenue – Suite 5, Phoenix, Arizona (“The Asset”). The Asset is currently occupied by SHAHealth, (“Tenant”) an Obstetrician-Gynecologist (OBGYN) provider specializing in women’s health. The Asset was renovated to suit the needs of the tenant in 2011. SHAHealth will execute a new 5-year NNN Lease with 3% annual increases, commencing upon purchase. The +/- 6,551 square foot office condo was built in 1967 and renovated in 2011, featuring 13 private exam, 8 private offices, and ample parking sitting on a +/- 0.56-acre lot. Each exam room is built out with its own sink plus an adjacent single stall bathroom with a sink. The Asset was built as a part of the Maryvale Parkway Medical Center, a 4 property privately owned office condo complex. Maryvale Parkway Medical Center does not have an association in place and each suite is 100% maintained by the individual owners. The Asset is strategically located a mile away from Grand Avenue, in close proximity to I-10, Loop 202, I-17, and less than 7 miles from Downtown Phoenix. The Maryvale neighborhood is seeing a surge in rental rates, home prices, and capital investments which adds strength to the long-term viability of the Asset. This offering presents the opportunity to own a stabilized medical office condo, with a committed tenant and a passive ownership structure.
4702 North 51st Avenue
Investment Highlights
- SHAHealth has provided services to Phoenix in this medical corridor for over 25+ years.
- Next door to the facility is Valleywise's Behavioral Health Center – Maryvale Hospital which underwent a $75 million investment and renovation of the +/- 271,000 SF hospital in 2019
- Grand Canyon University is 2.25 miles away. The student body increased from less than 1,000 student in 2009 to over 23,000 in 2020. ($1.0 Billion investment into their campus over the past decade)
Listing Price: $1,310,200
Investment Highlights
- SHAHealth has provided services to Phoenix in this medical corridor for over 25+ years.
- Next door to the facility is Valleywise's Behavioral Health Center – Maryvale Hospital which underwent a $75 million investment and renovation of the +/- 271,000 SF hospital in 2019
- Grand Canyon University is 2.25 miles away. The student body increased from less than 1,000 student in 2009 to over 23,000 in 2020. ($1.0 Billion investment into their campus over the past decade)
Investment Overview
Marcus & Millichap is pleased to offer the opportunity to acquire 4702 North 51st Avenue – Suite 5, Phoenix, Arizona (“The Asset”). The Asset is currently occupied by SHAHealth, (“Tenant”) an Obstetrician-Gynecologist (OBGYN) provider specializing in women’s health. The Asset was renovated to suit the needs of the tenant in 2011. SHAHealth will execute a new 5-year NNN Lease with 3% annual increases, commencing upon purchase. The +/- 6,551 square foot office condo was built in 1967 and renovated in 2011, featuring 13 private exam, 8 private offices, and ample parking sitting on a +/- 0.56-acre lot. Each exam room is built out with its own sink plus an adjacent single stall bathroom with a sink. The Asset was built as a part of the Maryvale Parkway Medical Center, a 4 property privately owned office condo complex. Maryvale Parkway Medical Center does not have an association in place and each suite is 100% maintained by the individual owners. The Asset is strategically located a mile away from Grand Avenue, in close proximity to I-10, Loop 202, I-17, and less than 7 miles from Downtown Phoenix. The Maryvale neighborhood is seeing a surge in rental rates, home prices, and capital investments which adds strength to the long-term viability of the Asset. This offering presents the opportunity to own a stabilized medical office condo, with a committed tenant and a passive ownership structure.
