300 S Phelps Dr - Medical FOR SALE


Apache Junction, AZ 85120
$3,500,000 USD
407-557-3848
300 S Phelps Dr, Apache Junction, AZ for Sale
$3,500,000 USD
Medical - FOR SALE
1/4
null | 6.27% Cap Rate

300 S Phelps Dr
Apache Junction, AZ 85120


HIGHLIGHTS

  • - 9 Years Remaining on Original 15 Year Lease
  • - Remodeled to Tenants Specifications in 2020
  • - Total Hard Cost of Renovation Over $800,000 Including New Roof, HVAC and Parking Lot
  • - Tenant Improvement Contribution over $150,000
  • - Annual 2.5% Rental Increases
  • - Strategically Located Offering Access to Underserved Populations | Market Leading Provider for Value-Based Primary Care

OVERVIEW

This property is subject to an original 15-year lease with 9 years remaining. The facility was remodeled to the tenant’s specifications in 2020, with total hard renovation costs exceeding $800,000, including a new roof, HVAC system, and parking lot improvements. Additional tenant improvement contributions exceeded $150,000. The lease features annual rental increases of 2.5%. The property is strategically located to serve underserved populations and is operated by a market-leading provider of value-based primary care. The operating practice was acquired by VillageMD in 2021, and VillageMD Arizona was subsequently acquired by Revere Medical in January 2026.

FOR SALE DETAILS

PRICE

$3,500,000 USD

PRICE/SF

$578 USD /SF

CAP RATE

6.27%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Revere Medical

PROPERTY TYPE

Office

PROPERTY SUBTYPE

Medical

TOTAL BUILDING SIZE

-

STORIES

1

BUILDING CLASS

C

YEAR BUILT

2000

SPRINKLERS

-

PARKING SPACES

60

LAND DETAILS

LAND ACRES

1.45 AC

LAND SF

63,162 SF

ZONING

CB-2 Apache Junction

APN/PARCEL ID

101-14-001V

ASK ABOUT THIS PROPERTY

Spencer KochMarcus & MillichapMore Info
407-557-3848

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Spencer KochMarcus & MillichapMore Info
407-557-3848

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.