1031 MLS

ExampleThis is an example listing, published by 1031 MLS to show how a property appears here. The property does not exist, the photographs are computer-generated, and there is no seller to contact. It is kept out of search engines, buyer matches and saved-search alerts.

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Medical
Relinquished property

Two-storey medical office building

Chandler, AZ (approximate)

6% cap rate

Confirmed today

Two-storey medical office building with a covered patient drop-off canopy
Two-storey medical office building with a covered patient drop-off canopy

Overview

Purpose-built medical office two blocks from a regional hospital campus, fully leased to three practices with the anchor occupying 54% of the building through 2032. Built-out imaging suite on the ground floor, covered drop-off, 5.1 parking spaces per thousand square feet. Landlord carries roof and structure; tenants reimburse everything else. This is an example listing published by 1031 MLS to demonstrate the site. The property does not exist and is not for sale.

Property details

The deal

Property type
Medical
Subtype
Multi-tenant medical office
Occupancy
100%

Income

Cap rate
6%
Net operating income
$504,000

Building

Building area
31,200 sf
Lot size
2.4 acres
Year built
2011
Year renovated
2019

Lease

Tenant
Three practices, anchored by an orthopaedic group
Lease type
NN (double net)
Lease expiration
April 30, 2032

Exchange notes

Long weighted average term and healthcare tenancy — the profile a buyer reaches for when the replacement property has to be boring on purpose.

Location

Address protected

This listing shows an approximate area only. The seller has chosen to keep the exact street address private.

The precise address is released to you when the seller accepts your inquiry.