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Office Medical

Parkvale Medical

4616 N 51st Ave, Phoenix, AZ 85031

Listing Price: $5,250,000

Cap Rate
7.43%
Gross SF
41,524
Rentable SF
19,323
Price/Gross SF
$126.43
Occupancy
58.0%
Year Built
1980
Lot Size
2.50 acres

Investment Overview

Marcus and Millichap is pleased to exclusively offer for sale the Parkvale Medical Building, a two-story medical office building located at 4616 N 51st Ave, in Phoenix, Arizona. Built in 1980 and renovated in 2016, the building totals 41,100 square feet of rentable space on a 2.5-acre site. The Asset is offered for sale at $5,5000,000 reflecting a 7.43% cap rate. The sale price equates to $134/SF which is well below replacement cost.

Investment Highlights

  • Anchored by Terros Health, a highly regarded regional healthcare provider
  • Value-add opportunity with lease-up
  • The Parkvale Medical Building has been extensively renovated and is positioned on a highly visible corner lot
  • Medical office building located in the area's medical hub
  • Major area healthcare, educational, and commercial investments in the surrounding area

Exclusively Listed By

Listing Price: $5,250,000

Cap Rate
7.43%
Gross SF
41,524
Rentable SF
19,323
Price/Gross SF
$126.43
Occupancy
58.0%
Year Built
1980
Lot Size
2.50 acres

Investment Highlights

  • Anchored by Terros Health, a highly regarded regional healthcare provider
  • Value-add opportunity with lease-up
  • The Parkvale Medical Building has been extensively renovated and is positioned on a highly visible corner lot
  • Medical office building located in the area's medical hub
  • Major area healthcare, educational, and commercial investments in the surrounding area

Investment Overview

Marcus and Millichap is pleased to exclusively offer for sale the Parkvale Medical Building, a two-story medical office building located at 4616 N 51st Ave, in Phoenix, Arizona. Built in 1980 and renovated in 2016, the building totals 41,100 square feet of rentable space on a 2.5-acre site. The Asset is offered for sale at $5,5000,000 reflecting a 7.43% cap rate. The sale price equates to $134/SF which is well below replacement cost.

Exclusively Listed By

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