999 Division St, Prescott, AZ 86301
4,922 SF | Office Building | Prescott, AZ 86301 | $1,820,000 ($370/SF) | 6.50% Cap Rate
For Sale
Active
- Date Added:
- May 17, 2024
- Days on Market:
- 28 days
Asking Price $1,820,000
- Property Type
-
Office
- Square Feet
- 4,922 SF
- Price / Square Foot
- $370
Listing Contacts
Raymond Zogob
Verified Profile
- Property Info
Property Overview
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 $1,820,000, with a Going-in CAP Rate of 6.5% 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 Details
- Class
- B
- Year Built/Renovated
- 1988/2022
- Stories
- 2
- Property Subtype
- Medical
- Lot Size (sq. ft)
- 12,197 SF
Highlights
- Single Tenant, Medical Office, Net Leased Investment
- Going-in CAP Rate of 6.5%
- CPI Annual Increases
- Lease Expires on 12-31-26
- Excellent Condition with Quality TI Finishes & Functional Floor Plan
- Ample On-Site Medical Parking
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