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6739 W Cactus Rd 15,187 SF Retail Building Peoria, AZ 85381 $6,198,750 CAD ($408.16 CAD/SF) 7.40% Cap Rate
Investment Highlights
- Heavy Traffic
- Partially Stabilized Medical / Office Investment with Lease-Up Upside
- Freestanding
- Approximately 5,000 SF remains as shell space, allowing an investor to create additional value through leasing or build-out.
Executive Summary
Adaptive Reuse Medical / Office Opportunity
Former Walgreens Conversion
Property Overview
Property Type: Office / Medical?Total Building Size: 15,187 SF?Built-Out Space: 10,187 SF (Telemedicine / Office)?Available Shell Space: 5,000 SF?Zoning: General Commercial (GC)?Price: $4,500,000
This property is a former Walgreens building that has been partially converted into professional medical/office space, with the remaining shell space providing a value-add leasing opportunity.
Financial Overview
Metric Amount
Asking Price $4,500,000
Total Building Size 15,187 SF
Price Per SF $296/SF
Market Rent $22/SF
Potential Stabilized Income $334,114
Projected Stabilized Cap Rate 7.4%
Income Analysis
Built-Out Space Income Potential
10,187 SF × $22/SF
= $224,114 per year
Shell Space Income Potential
5,000 SF × $22/SF
= $110,000 per year
Total Stabilized Income
$224,114 + $110,000
= $334,114 annually
Stabilized Cap Rate
Cap Rate Formula
NOI ÷ Purchase Price
$334,114 ÷ $4,500,000
= 7.42% Cap Rate
Value-Add Component
Approximately 5,000 SF remains as shell space, allowing an investor to create additional value through leasing or build-out.
Space Income Potential
Existing built-out space $224,114
Lease-up of shell $110,000
Total stabilized income $334,114
Investment Highlights
• Former Walgreens adaptive reuse building?• 10,187 SF fully built-out telemedicine / office space?• 5,000 SF shell value-add opportunity?• Strong $22/SF office/medical rental market?• Large floorplate building difficult to replicate today?• Attractive $296/SF acquisition price
Ideal Users
The property is well suited for:
• Telemedicine providers?• Behavioral health clinics?• Urgent care / specialty medical?• Professional office users?• Education / training centers?• Government agencies
Former Walgreens Conversion
Property Overview
Property Type: Office / Medical?Total Building Size: 15,187 SF?Built-Out Space: 10,187 SF (Telemedicine / Office)?Available Shell Space: 5,000 SF?Zoning: General Commercial (GC)?Price: $4,500,000
This property is a former Walgreens building that has been partially converted into professional medical/office space, with the remaining shell space providing a value-add leasing opportunity.
Financial Overview
Metric Amount
Asking Price $4,500,000
Total Building Size 15,187 SF
Price Per SF $296/SF
Market Rent $22/SF
Potential Stabilized Income $334,114
Projected Stabilized Cap Rate 7.4%
Income Analysis
Built-Out Space Income Potential
10,187 SF × $22/SF
= $224,114 per year
Shell Space Income Potential
5,000 SF × $22/SF
= $110,000 per year
Total Stabilized Income
$224,114 + $110,000
= $334,114 annually
Stabilized Cap Rate
Cap Rate Formula
NOI ÷ Purchase Price
$334,114 ÷ $4,500,000
= 7.42% Cap Rate
Value-Add Component
Approximately 5,000 SF remains as shell space, allowing an investor to create additional value through leasing or build-out.
Space Income Potential
Existing built-out space $224,114
Lease-up of shell $110,000
Total stabilized income $334,114
Investment Highlights
• Former Walgreens adaptive reuse building?• 10,187 SF fully built-out telemedicine / office space?• 5,000 SF shell value-add opportunity?• Strong $22/SF office/medical rental market?• Large floorplate building difficult to replicate today?• Attractive $296/SF acquisition price
Ideal Users
The property is well suited for:
• Telemedicine providers?• Behavioral health clinics?• Urgent care / specialty medical?• Professional office users?• Education / training centers?• Government agencies
Financial Summary (Pro Forma - 2026) Click Here to Access |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Pro Forma - 2026) Click Here to Access
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
15,187 SF
Building Class
B
Year Built
2000
Price
$6,198,750 CAD
Price Per SF
$408.16 CAD
Cap Rate
7.40%
NOI
$458,708 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.14
Lot Size
2.43 AC
Zoning
C-2 - Commercial C-2
Parking
73 Spaces (4.81 Spaces per 1,000 SF Leased)
Frontage
348’ on N 67th Ave
Amenities
- Signage
- Signalized Intersection
- Drive Thru
Space Availability
- Space
- Size
- Space Use
- Position
- Available
This former Walgreens was transformed into a gorgeous office space that is great for Medical/Office/Flex space that sits on the SW corner of 67th Ave and Cactus. The 10,188SF side is renovated and the 5,000 SF space is shell which can be leased as a whole building or individual suite. The vast interior that can be adapted to various business needs. You'll find multiple offices, a large conference room, and several toilets. The carpeted floors also offer a touch of comfort. The exterior boasts an expansive parking area to cater to staff and visitors. It is easily accessible and has tons of potential for customization.
| Space | Size | Space Use | Position | Available |
| 1st Floor | 15,120 SF | Retail | - | Now |
1st Floor
| Size |
| 15,120 SF |
| Space Use |
| Retail |
| Position |
| - |
| Available |
| Now |
1 of 41
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
1st Floor
| Size | 15,120 SF |
| Space Use | Retail |
| Position | - |
| Available | Now |
This former Walgreens was transformed into a gorgeous office space that is great for Medical/Office/Flex space that sits on the SW corner of 67th Ave and Cactus. The 10,188SF side is renovated and the 5,000 SF space is shell which can be leased as a whole building or individual suite. The vast interior that can be adapted to various business needs. You'll find multiple offices, a large conference room, and several toilets. The carpeted floors also offer a touch of comfort. The exterior boasts an expansive parking area to cater to staff and visitors. It is easily accessible and has tons of potential for customization.
Fairly walkable
40/100
Exceptionally drivable
90/100
Limited public transit
30/100
Moderately bikeable
60/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 143-05-002W | Total Assessment | $481,570 CAD (2025) |
| Land Assessment | $0 CAD (2025) | Annual Taxes | -$1 CAD ($0.00 CAD/SF) |
| Improvements Assessment | $0 CAD (2025) | Tax Year | 2026 |
Property Taxes
Parcel Number
143-05-002W
Land Assessment
$0 CAD (2025)
Improvements Assessment
$0 CAD (2025)
Total Assessment
$481,570 CAD (2025)
Annual Taxes
-$1 CAD ($0.00 CAD/SF)
Tax Year
2026
1 of 11
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
Presented by
6739 W Cactus Rd
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