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Medical Single Tenant NNN Investment Opp 999 Division St 4,922 SF Office Building Prescott, AZ 86301 $1,695,000 ($344.37/SF) 7.10% Cap Rate
INVESTMENT HIGHLIGHTS
- Single Tenant, Medical Office, Net Leased Investment
- CPI Annual Increases
- Excellent Condition with Quality TI Finishes & Functional Floor Plan
- Going-in CAP Rate of 7.1%
- Lease Expires on 12-31-26
- Ample On-Site Medical Parking
EXECUTIVE SUMMARY
Rare Opportunity to purchase this Single Tenant, Medical Office Building, Net Leased Investment located adjacent to the Dignity Health hospital’s west campus in Prescott AZ. Offered at $1,695,000, with a Going-in CAP Rate of 7.1% and annual CPI increases. This 4,922-sf medical office building is currently leased to Arizona Neurosurgery & Spine. The lease began on 1-1-22 and expires on 12-31-26. Originally built in 1988, the building has been recently renovated and is in excellent condition. The floor plan features +/-4,000 sf on the main level which includes 5 exam rooms with sinks, 3 provider offices which can be converted into additional exam rooms, 1 large surgical room, 3 surgical prep rooms, a separate lobby and entrance for surgical procedures, 2 nursing stations, a manager office, large waiting room and reception desk, a stacked washer/dryer room, 2 storage rooms, 2 restrooms and a private outside patio area. The second floor is +/-920 sf and offers additional office space in a large open bullpen area, a kitchen breakroom with sink and built in counter tops and a separate restroom (see attached Floor Plan). There are 24 on-site parking spaces. The Tenant is currently leasing only the first-floor space and the second-floor space is available to lease or be used by the future building owner.
PROPERTY FACTS
Sale Type
Investment or Owner User
Sale Condition
1031 Exchange
Property Type
Office
Property Subtype
Medical
Building Size
4,922 SF
Building Class
B
Year Built/Renovated
1988/2015
Price
$1,695,000
Price Per SF
$344.37
Cap Rate
7.10%
NOI
$120,345
Tenancy
Single
Building Height
2 Stories
Typical Floor Size
2,461 SF
Building FAR
0.40
Lot Size
0.28 AC
Opportunity Zone
Yes
Zoning
BG - Business General
Parking
12 Spaces (2.43 Spaces per 1,000 SF Leased)
AMENITIES
- Wheelchair Accessible
- Air Conditioning
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PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $599,123 | |
| Land Assessment | $139,883 | Total Assessment | $739,006 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$139,883
Improvements Assessment
$599,123
Total Assessment
$739,006
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Medical Single Tenant NNN Investment Opp | 999 Division St
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