Value-Add Medical Office Adjacent to Hospital 6036 N 19th Ave 76,288 SF Office Building Online Auction Sale Phoenix, AZ 85015

Central Physicians Plaza offers a premier medical office investment opportunity featuring a 76,288-square-foot, five-story multi-tenant medical office building ideally positioned on the Abrazo Central Campus at 6036 N 19th Avenue. Currently 37% occupied, the property has a four-year weighted average lease term (WALT) and approximately 50 years remaining on the ground lease. The office offers immediate value-add potential through the lease-up of over 48,000 square feet of available medical office space, rent growth, and eventual stabilization. The office features fully built-out medical-spec suites with immediate occupancy, flexible floor plates suitable for a wide range of healthcare tenants. Central Physicians Plaza is the only third-party-owned medical office campus in the area, providing a rare opportunity to acquire an irreplaceable healthcare investment property at a fraction of replacement cost with strong long-term fundamentals.

Built in 1973 and renovated in 2006, the common area has undergone recent improvements, including updated paint and flooring. Central Physicians Plaza provides abundant parking for physicians and patients in a shared garage, ensuring convenient access. Prime positioning directly adjacent to Abrazo Health, a subsidiary of Tenet Healthcare (NYSE: THC). The 206-bed acute-care hospital also occupies 6% of the entire Central Physicians Plaza, creating a highly synergistic on-campus environment ideal for outpatient medical users. Proximity to emergency services, surgical services, and physician referral services creates a synergistic office location. Existing tenancy inside Central Physicians Plaza consists entirely of healthcare providers, including primary care, specialty medicine, interventional services, rehabilitation, dental, and surgical practices, and is supported by annual rent escalations of 3.0% to 3.5%, which drive consistent net operating income (NOI) growth.

Positioned along the Valley Metro Light Rail and offering excellent connectivity to Interstate 17 and Interstate 10. Central Physicians Plaza offers superior regional accessibility, just a 14-minute drive from Phoenix Sky Harbor International Airport. Strategically located in one of the largest and fastest-growing metropolitan areas in the United States, with 4.9 million residents and over $744 million in annual healthcare spending within a 10-mile radius of the office. Central Physicians Plaza is well-positioned to benefit from sustained demand for healthcare real estate in Phoenix.

Central Physician’s Plaza represents an attractive value-add opportunity to acquire an on-campus asset at a fraction of replacement cost, with significant embedded upside through lease-up, rent growth, and stabilization. Pro forma NOI growth over a five-year hold generates a 1,303% increase, looking at year 6 NOI compared to year 1. The property also presents a unique owner/user opportunity with the ability to occupy up to 74% of the building, including the entire 4th floor and the entire ground floor, which features existing ambulatory surgery center improvements. Central Physician’s Plaza is an ideal acquisition for healthcare groups, investors, or medical users seeking strategically located medical office space in Phoenix, Arizona.

Property tours are available by appointment only. Please contact the listing broker to schedule.