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4801 E McDowell Rd
Phoenix, AZ 85008 Papago

$1,576 - $4,197 USD/MO

Medical For Lease  •  1,182+ SF

Property Details

  • Property Type Medical
  • Year Built 1982
  • Total Building Size 21,884 SF
  • Tenancy Multiple
  • Building Class B
  • Zoning C-2
30 Transit Score
50 Walk Score

5 Spaces Available

Name Space Use Size Rent Details
2nd Floor Ste 200 Medical Office 1,515 SF $16.00 USD/SF/YR 
1,515 SF available

  • Date available: Now
  • Lease term: Negotiable
  • Service type: Triple Net
  • Space Type: Relet
2nd Floor Ste 250 Medical Office 1,482 SF $16.00 USD/SF/YR 
1,482 SF available

  • Date available: Now
  • Lease term: Negotiable
  • Service type: Triple Net
  • Space Type: Relet
  • In Contiguous block: 8,166 SF
2nd Floor Ste 255 Medical Office 2,354 SF $16.00 USD/SF/YR 
2,354 SF available

  • Date available: Now
  • Lease term: Negotiable
  • Service type: Triple Net
  • Space Type: Relet
  • In Contiguous block: 8,166 SF
2nd Floor Ste 260 Medical Office 1,182 SF $16.00 USD/SF/YR 
1,182 SF available

  • Date available: Now
  • Lease term: Negotiable
  • Service type: Triple Net
  • Space Type: Relet
  • In Contiguous block: 8,166 SF
2nd Floor Ste 275 Medical Office 3,148 SF $16.00 USD/SF/YR 
3,148 SF available

  • Date available: Now
  • Lease term: Negotiable
  • Service type: Triple Net
  • Space Type: Relet
  • In Contiguous block: 8,166 SF

Description 

FORTY EIGHT 01 presents a rare opportunity to acquire a fully renovated, multi-tenant medical office condominium in the heart of Phoenix, Arizona. This ±21,884 SF two-story building underwent a $1.5 million renovation in 2023, including new HVAC systems, roof replacement, tenant improvements, and a refreshed parking lot. The property’s timeless mid-century modern architecture features expansive glass lines, steel walkways, and metal accents, complemented by contemporary landscaping.
Strategically located at the intersection of 48th Street and McDowell Road, the site offers exceptional visibility and signage along one of Phoenix’s major thoroughfares. Its proximity to Camelback Corridor, Downtown Tempe, and Old Town Scottsdale places it at the convergence of three of the Valley’s most desirable office submarkets. The building benefits from a transit-oriented location with access to seven freeways within a 10-minute drive and near-immediate airport connectivity via SR-143.
The ±1.07-acre site includes 66 on-site parking spaces and an additional 35 spaces via a parking easement valid through December 2037, resulting in a robust ±4.75/1,000 parking ratio. The floor plates average ±3,126 SF, ideal for small tenants, which enhances income stability and reduces tenant improvement costs. With six hospitals located within six miles, the property aligns with the hub-and-spoke healthcare delivery model, making it highly attractive to medical users.
This asset is well-positioned for investors seeking stable returns or owner-users looking to establish a presence in a high-demand medical corridor.

Highlights

$1.5M renovation completed in 2023 including HVAC, roof, and TI
Located at the intersection of 48th Street and McDowell Road
Surrounded by six hospitals within a six-mile radius
Parking easement adds 35 spaces through 2037
Positioned near Camelback Corridor, Tempe, and Scottsdale
Transit-oriented with access to seven freeways and SR-143

Property Flyers

Amenities

  • Courtyard
  • Signage
  • Monument Signage

Major Tenants

Tenant SF Occupied Lease End Date
A Better Today Recovery Services
Omni Dermatology 3/1/2028
Open Cash Inc
Phoenix Autism Center 6/1/2030
STI Physical Therapy 3/1/2028
Wellness Ready

Public Transportation

AirportDriveWalkDistance
Phoenix Sky Harbor International 8 min - 4.0 mi
Phoenix-Mesa Gateway 42 min - 28.6 mi

Parking Details

Parking Available: Yes
Reserved: No
Spaces Provided: 42
Type: Surface
Included in Rent: Yes
Hunter Chasse 480-421-8822 LevRose Real Estate
Hunter Chasse 480-421-8822 LevRose Real Estate