Parkvale Medical Building | 4616 N 51st Ave
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Parkvale Medical Building 4616 N 51st Ave
42,909 SF 77% Leased Office Building Phoenix, AZ 85031 $10,650,000 ($248/SF) 6.40% Cap Rate
Investment Highlights
- Significant upside through the lease-up of the remaining vacant suites
- Priced significantly below replacement cost
- Leased to a diverse mix of medical office users
- Existing leases are below market rental rates
- Parkvale Medical Building offers new ownership the benefits of existing cash flow stability
Executive Summary
Leased to a diverse mix of medical office users
Parkvale Medical Building offers new ownership the benefits of existing cash flow stability
Significant upside through the lease-up of the remaining vacant suites
Existing leases are below market rental rates
Priced significantly below replacement cost
Parkvale Medical Building offers new ownership the benefits of existing cash flow stability
Significant upside through the lease-up of the remaining vacant suites
Existing leases are below market rental rates
Priced significantly below replacement cost
Property Facts
Sale Type
Investment
Property Type
Office
Property Subtype
Medical
Building Size
42,909 SF
Building Class
B
Year Built/Renovated
1980/2005
Price
$10,650,000
Price Per SF
$248
Cap Rate
6.40%
NOI
$681,600
Percent Leased
77%
Tenancy
Multiple
Building Height
2 Stories
Typical Floor Size
21,455 SF
Slab To Slab
11’
Building FAR
0.39
Lot Size
2.50 AC
Zoning
R-5 HR, Phoenix - City of Phoenix, R-5
Currently a medical office property.
Parking
198 Spaces (4.61 Spaces per 1,000 SF Leased)
Amenities
- Air Conditioning
- Balcony
Space Availability
- Space
- Size
- Space Use
- Condition
- Available
- 2nd Fl-Ste 202
- 2,813 SF
- Office/Medical
- Full Build-Out
- Now
- 2nd Fl-Ste 203
- 2,000 SF
- Office/Medical
- Full Build-Out
- Now
- 2nd Fl-Ste 210/214
- 3,807 SF
- Office/Medical
- Full Build-Out
- Now
- 2nd Fl-Ste 212
- 1,144 SF
- Office/Medical
- Full Build-Out
- Now
| Space | Size | Space Use | Condition | Available |
| 2nd Fl-Ste 202 | 2,813 SF | Office/Medical | Full Build-Out | Now |
| 2nd Fl-Ste 203 | 2,000 SF | Office/Medical | Full Build-Out | Now |
| 2nd Fl-Ste 210/214 | 3,807 SF | Office/Medical | Full Build-Out | Now |
| 2nd Fl-Ste 212 | 1,144 SF | Office/Medical | Full Build-Out | Now |
2nd Fl-Ste 202
| Size |
| 2,813 SF |
| Space Use |
| Office/Medical |
| Condition |
| Full Build-Out |
| Available |
| Now |
2nd Fl-Ste 203
| Size |
| 2,000 SF |
| Space Use |
| Office/Medical |
| Condition |
| Full Build-Out |
| Available |
| Now |
2nd Fl-Ste 210/214
| Size |
| 3,807 SF |
| Space Use |
| Office/Medical |
| Condition |
| Full Build-Out |
| Available |
| Now |
2nd Fl-Ste 212
| Size |
| 1,144 SF |
| Space Use |
| Office/Medical |
| Condition |
| Full Build-Out |
| Available |
| Now |
PROPERTY TAXES
| Parcel Number | 144-44-329 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $396,799 |
PROPERTY TAXES
Parcel Number
144-44-329
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$396,799
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Parkvale Medical Building | 4616 N 51st Ave
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