2145 E Baseline Rd
Tempe, AZ 85283
Office Property For Sale

2145 E Baseline Road is a single-tenant medical office
building used for administrative offices and an
approximately 3,000 SF urgent care clinic. Situated on
4.61 acres in Tempe, Arizona, the property is 100%
leased to NextCare Arizona LLC. NextCare has invested
approximately $4 million in tenant improvements and
operates under a double-net lease through August 31,
2033. The lease structure requires the tenant to pay all
operating expenses, while the landlord is responsible
only for the roof (which is new and under warranty)
and ordinary structural maintenance. The property
offers long-term stable cash flow with a weighted
average lease term of 7.58 years and a corporate
guaranty from NextCare Inc and CellTower income
from T-Mobile.
INVESTMENT HIGHLIGHTS
100% leased to NextCare through August 31, 2033.
Updated to 46,928 SF including ±3,000 SF urgent care and
administrative offices.
Double net lease: tenant pays operating expenses (utilities, HVAC,
repairs); landlord responsible only for roof (new and under warranty).
Five-year step-up: $21.50/PSF ($1,008,952 annual) through August 31,
2026; $23.50/PSF ($1,102,808 annual) thereafter.
Two five-year renewal options with 2% annual increases.
Tenant improvements ±$4M; includes $2M improvement allowance.
4.61-acre site
Corporate guaranty by NextCare Inc.
Annual cell tower income: $11,595.72 with T-Mobile West LLC