Metro Medical Plaza 3201 W Peoria Ave 57,323 SF 93% Leased Office Building Phoenix, AZ 85029 $11,270,000 ($196.61/SF) 7.70% Cap Rate

- Eight (8) building medical office complex totaling ±57,708 SF.
- ±93% leased to a diversified mix of medical tenants, which range from dentistry, family medicine, orthopedics, therapy, podiatry, and imaging.
- Only game in town with no medical competitors within a two-mile radius.
- Ideal combination of stability and upside potential through leasing the remaining ±4,209 SF of available space and by increasing lease rates as the immediate area gentrifies with the $850 million adjacent Metrocenter Mall redevelopment.
- Modern architecture with exterior-loaded ‘drive up’ access, which increases functionality and suite access, is ideal for medical tenants and their patients.
- Manageable average tenant size of ±2,700 SF, which increases income security and predictability due to small medical suites’ limited configuration options and lower tenant improvement costs.
- Approximately ±70% suites have undergone recent renovations, supported by an investment of over $780,000 in tenant improvements.
- Adjacent ±0.5-acre parcel, presented in a separate offering, offers an additional development or expansion opportunity.
- Located within an Opportunity Zone.
- Located one half (½) mile from I-17 Freeway, the property benefits from exceptional access to the entire metro Phoenix freeway system and a labor pool of over 2.4 million residents.
- An impressive ±7.4 million SF of retail amenities are located within a three (3) mile radius, with nearly one million SF located along Peoria Avenue immediately adjacent to the property.
- Adjacent to Metrocenter Mall’s $850 million redevelopment site, which will include over 1,000 for-rent and for-purchase townhomes, 350 multifamily units, 140,000 SF of retail space, and dynamic outdoor space.
- The Metro Light Rail’s Northwest Extension Phase II, which was completed January 2024, serves as the northern starting point of the rail line, with the station located less than one half (½) mile from Metro Medical Plaza.
- TSMC’s $165 billion (steadily growing) semiconductor plant lies 15 minutes to the north and has electrified job and population growth in the northwest Valley, spurring a massive industrial development cycle in order to accommodate the suppliers and ancillary demand, with accompanying surges in residential, retail and hospitality development.