3120 Clearwater Dr, Prescott, AZ 86305
4,469 SF | Office Building | Prescott, AZ 86305 | $1,400,000 ($313/SF) | 6.77% Cap Rate
For Sale
Active
- Date Added:
- September 16, 2024
- Days on Market:
- 7 days
Asking Price $1,400,000
- Property Type
-
Office
- Square Feet
- 4,469 SF
- Price / Square Foot
- $313
Listing Contacts
Raymond Zogob
Verified Profile
- Property Info
Property Overview
Rare Opportunity to purchase this Credit Single Tenant, Medical Office, NNN Leased Investment located within the Crossings commercial subdivision in Prescott AZ. Offered at $1,400,000 with a Going-in CAP Rate is 6.77% and a five-year average CAP Rate of 7.14%. This 4,493-sf, single story, medical office building has been leased by Dignity Health/YRMC since 2012. The current lease expires on 3-31-26; however, Dignity Health has one 5-year lease option remaining at 3.0% annual increases with a 12-month written notice by Tenant. Originally built in 2003, the building is in excellent condition and features 12 exam rooms, 2 nurse stations, business office bullpen, manager office, large waiting room, reception desk, a kitchen/break room, 3 storage rooms, 4 restrooms and a private outside patio area (see attached Floor Plan). There are 40 on-site parking spaces in addition to street parking along Clearwater Dr.
Property Details
- Class
- B
- Year Built/Renovated
- 2003/2022
- Stories
- 1
- Property Subtype
- Medical
- Lot Size (sq. ft)
- 30,492 SF
Highlights
- Single Tenant, Medical Office, NNN Leased Investment
- Credit Tenant – Dignity Health/YRMC
- 2 Years Remaining & 1 Five Year Option at 3.0% Annual Increases
- Going-in CAP Rate of 6.91% - 5 Year Average of 7.28%
- Excellent Condition with Quality TI Finishes & Functional Floor Plan
- Ample On-Site Medical Parking
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