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420 S Smith Rd 16,843 SF 100% Leased Office Building Tempe, AZ 85281 $4,471,000 ($265.45/SF) 7.05% Cap Rate
Executive Summary
Freestanding Office/Flex Investment Opportunity
On-site Warehouse with roll-up garage door
Outdoor patio and seating area
100% leased to Pavion, an established national tenant
Landlord friendly NNN Lease Structure
Long term lease with term remaining through August 28, 2029
Steady 3% annual increases throughout the Lease Term
Large 1.13 acre lot with a secured yard and 4/1,000 SF Parking Ratio,
including covered parking
Ideal Tempe location with close proximity to Arizona State University,
Downtown Tempe, Tempe Town Lake, & Phoenix Sky Harbor
Easy Access to Loop 101, Loop 202, SR-143, US-60, and I-10
On-site Warehouse with roll-up garage door
Outdoor patio and seating area
100% leased to Pavion, an established national tenant
Landlord friendly NNN Lease Structure
Long term lease with term remaining through August 28, 2029
Steady 3% annual increases throughout the Lease Term
Large 1.13 acre lot with a secured yard and 4/1,000 SF Parking Ratio,
including covered parking
Ideal Tempe location with close proximity to Arizona State University,
Downtown Tempe, Tempe Town Lake, & Phoenix Sky Harbor
Easy Access to Loop 101, Loop 202, SR-143, US-60, and I-10
Property Facts
Sale Type
Investment
Property Type
Office
Building Size
16,843 SF
Building Class
B
Year Built
1999
Price
$4,471,000
Price Per SF
$265.45
Cap Rate
7.05%
NOI
$315,206
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Typical Floor Size
8,422 SF
Building FAR
0.34
Lot Size
1.13 AC
Opportunity Zone
Yes
Zoning
GID - General Industrial
Parking
69 Spaces (4 Spaces per 1,000 SF Leased)
Amenities
- Fenced Lot
- Signage
Fairly walkable
50/100
Exceptionally drivable
100/100
Some public transit
50/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 132-38-008S | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $240,841 |
Property Taxes
Parcel Number
132-38-008S
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$240,841
Contacts
-
Grafton Milne -
Tom Ellixson -
Jessica Moorman -
Menlo Group Commercial Real Estate
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420 S Smith Rd
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