Honorhealth (N.O.A.H.) 20440 N 27th Ave 6,732 SF Retail Building Phoenix, AZ 85027 $3,243,664 ($481.83/SF) 6.25% Cap Rate

Single-Tenant HonorHealth (Operated by N.O.A.H) in Phoenix, Arizona
BANG Realty is pleased to present this free-standing, ±6,732 SF property, net leased to Neighborhood Outreach Access to Health with a guaranty from Scottsdale Healthcare Hospitals, dba as HonorHealth. The site features a large ± 1.4 Acre parcel with a possibility for future expansion, which the tenant has expressed interest in (call Broker for more details). Located in the Deer Valley community of Northern Phoenix, the location features easy access to Interstate 17 & Loop 101. Dubbed the N.O.A.H Venado Valley Health Center, this location was opened by N.O.A.H in 2017 and is home to Family Medicine, Internal Medicine, Pediatric Care, Behavioral Health, Nutrition, and Community Resources. With outstanding providers and a conveniently located state-of-the-art health center, NOAH Venado Valley Health Center addresses each patient’s path to wellness.
The original 10-year, triple net lease has approximately 4 years of primary term remaining and two 5-year options to extend. The lease is also subject to annual 2.5% rental increases, a strong hedge against inflation. The lease guarantor HonorHealth boasts large presence throughout the Valley of the Sun. HonorHealth is a non-profit health system serving an area of 1.6 million people in the greater Phoenix, Arizona area. The network encompasses five acute care hospitals, an extensive medical group, outpatient surgery centers, a cancer center, clinical research, medical education, two foundations and community services with approximately 10,500 employees, 3,700 affiliated physicians and 3,100 volunteers.