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2826 E Karen Dr - 104-Bed Behavioral Health Campus 29,134 SF Health Care Building Offered at $16,059,899 CAD at a 13.53% Cap Rate in Phoenix, AZ 85032
Executive Summary
**104-Bed Behavioral Health Campus Opportunity**
Rare value-add opportunity to acquire a campus-style behavioral health asset with **DHS approval **and capacity for up to **104 beds**. The property includes **52 units spread across multiple buildings on one campus**, offering a flexible layout ideal for assisted living, behavioral health, residential treatment, sober living, or specialty care operations.
Currently unlicensed, the property gives a new owner/operator the ability to activate, reposition, and scale the asset around their preferred care model. With existing approval, strong bed capacity, and a multi-building campus configuration, this is a compelling opportunity for an experienced operator seeking immediate healthcare real estate upside.
Rare value-add opportunity to acquire a campus-style behavioral health asset with **DHS approval **and capacity for up to **104 beds**. The property includes **52 units spread across multiple buildings on one campus**, offering a flexible layout ideal for assisted living, behavioral health, residential treatment, sober living, or specialty care operations.
Currently unlicensed, the property gives a new owner/operator the ability to activate, reposition, and scale the asset around their preferred care model. With existing approval, strong bed capacity, and a multi-building campus configuration, this is a compelling opportunity for an experienced operator seeking immediate healthcare real estate upside.
Financial Summary (Pro Forma - 2026) |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$4,434,237
|
$152.20
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$221,712
|
$7.61
|
| Effective Gross Income |
$4,212,526
|
$144.59
|
| Taxes |
$51,255
|
$1.76
|
| Operating Expenses |
$1,988,366
|
$68.25
|
| Total Expenses |
$2,039,621
|
$70.01
|
| Net Operating Income |
$2,172,904
|
$74.58
|
Financial Summary (Pro Forma - 2026)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $4,434,237 |
| Annual Per SF | $152.20 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $221,712 |
| Annual Per SF | $7.61 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $4,212,526 |
| Annual Per SF | $144.59 |
| Taxes (CAD) | |
|---|---|
| Annual | $51,255 |
| Annual Per SF | $1.76 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $1,988,366 |
| Annual Per SF | $68.25 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $2,039,621 |
| Annual Per SF | $70.01 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $2,172,904 |
| Annual Per SF | $74.58 |
Property Facts
| Price | $16,059,899 CAD | Building Class | B |
| Price Per Bed | $154,422 CAD | Lot Size | 2.00 AC |
| Sale Type | Investment or Owner User | Building Size | 29,134 SF |
| Cap Rate | 13.53% | No. Beds | 104 |
| Property Type | Health Care | No. Stories | 2 |
| Property Subtype | Rehabilitation Center | Year Built | 2019 |
| Price | $16,059,899 CAD |
| Price Per Bed | $154,422 CAD |
| Sale Type | Investment or Owner User |
| Cap Rate | 13.53% |
| Property Type | Health Care |
| Property Subtype | Rehabilitation Center |
| Building Class | B |
| Lot Size | 2.00 AC |
| Building Size | 29,134 SF |
| No. Beds | 104 |
| No. Stories | 2 |
| Year Built | 2019 |
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Fairly walkable
50/100
Exceptionally drivable
100/100
Limited public transit
30/100
Moderately bikeable
70/100
Property Taxes
| Parcel Numbers | Total Assessment | $524,036 CAD (2025) | |
| Land Assessment | $0 CAD (2025) | Annual Taxes | $51,255 CAD ($1.76 CAD/SF) |
| Improvements Assessment | $0 CAD (2025) | Tax Year | 2026 |
Property Taxes
Parcel Numbers
Land Assessment
$0 CAD (2025)
Improvements Assessment
$0 CAD (2025)
Total Assessment
$524,036 CAD (2025)
Annual Taxes
$51,255 CAD ($1.76 CAD/SF)
Tax Year
2026
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2826 E Karen Dr - 104-Bed Behavioral Health Campus
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