- For sale
Opportunity to acquire 40th Street Medical Plaza, a ±41,703-square-foot, two-story medical office property at 16601 N. 40th Street in the Paradise Valley submarket of Phoenix.
Visit our property website to view the offering memorandum. Sale price is $7.26 million ($174 per square foot).
This value-add investment opportunity is 77.4 percent leased to a synergistic mix of 11 quality, tenured specialty and primary care medical providers, while seven vacant suites offer a compelling value-creation component.
One of Arizona’s most prominent surgical specialists, Valley Surgical Clinics, occupies one-third of the Plaza and will sign a 10-year lease at closing.
Within an ideal medical-services location, 40th Street Medical Plaza is off-campus and adjacent to Abrazo’s Scottsdale Hospital Campus and just south of the key intersection of 40th Street and Bell Road, offering great visibility and access for patients.
The three-building, garden-style property was built in 1986, and renovated in 2015. Recent renovations create a fresh, modernized overall appearance inside and out, demonstrating an impressive pride of ownership.
40th Street Medical Plaza offers investors a unique opportunity to acquire a high-performing medical office property that is just off-campus of a major medical center in a submarket with a high barrier to entry from future competition. Investors can enjoy tremendous upside and revenue growth, as well as long-term, stable tenancy with a value-creation component.