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4700 N 51st Ave - Bldg 6 3,856 SF Office/Medical Condo Unit Offered at $1,253,536 CAD in Phoenix, AZ 85031
INVESTMENT HIGHLIGHTS
- Single-Tenant NNN Medical Investment Opportunity
- Minimal Landlord Responsibilities
- Well-established Tenant Operating in the Valley since 1962 With Multiple Locations
- Highly Attractive CAP Rate | All Cash Buyers or Groups Intending to Utilize Conventional Financing
- Tenant responsible for all Operating Expenses Associated With the Property
EXECUTIVE SUMMARY
The subject property is located in Phoenix, AZ, fronting onto 51st Ave just south of Camelback Rd. The property is walking distance to Valleywise Health Emergency Department and is in close proximity to the I-10, I-17, Loop 202, US 60 and Loop 101 Freeways. Also in close proximity is Grand Canyon University.
PROPERTY FACTS
| Total Building Size | 4,797 SF | Typical Floor Size | 4,797 SF |
| Property Type | Office (Condo) | Year Built | 1968 |
| Property Subtype | Medical | Lot Size | 0.45 AC |
| Building Class | C | Parking Ratio | 5.21/1,000 SF |
| Floors | 1 | ||
| Zoning | R-5 - Commercial/Multi-Family | ||
| Total Building Size | 4,797 SF |
| Property Type | Office (Condo) |
| Property Subtype | Medical |
| Building Class | C |
| Floors | 1 |
| Typical Floor Size | 4,797 SF |
| Year Built | 1968 |
| Lot Size | 0.45 AC |
| Parking Ratio | 5.21/1,000 SF |
| Zoning | R-5 - Commercial/Multi-Family |
AMENITIES
- 24 Hour Access
- Signage
- Wheelchair Accessible
- Air Conditioning
- Smoke Detector
1 UNIT AVAILABLE
Unit 4
| Unit Size | 3,856 SF | Sale Type | Investment |
| Price | $1,253,536 CAD | Cap Rate | 8.06% |
| Price Per SF | $325.09 CAD | NOI | $100,992.02 CAD |
| Condo Use | Office/Medical | APN/Parcel ID | 144-44-015 |
| Unit Size | 3,856 SF |
| Price | $1,253,536 CAD |
| Price Per SF | $325.09 CAD |
| Condo Use | Office/Medical |
| Sale Type | Investment |
| Cap Rate | 8.06% |
| NOI | $100,992.02 CAD |
| APN/Parcel ID | 144-44-015 |
DESCRIPTION
SVN is pleased to present to the market this medical single tenant triple net investment opportunity. The property is 100% occupied by MVP Kids Care, an extremely well-established provider of pediatric medicine established in 1962. In addition to this location in Maryvale, MVP Kids Care also has offices established in Avondale and Laveen. MVP Kids Care entered into its current lease in August of 2021 for a term of 96 months, scheduled to expire August 2029. The tenant is currently paying $72,348 in base rent in a lease that calls for 2.5% annual increases every September. Below-market rents are driving a price per square foot well below replacement cost and creating a value-add opportunity in 4 years when renewing the existing lease. The lease is a NNN lease in which the Tenant is fully responsible for its own utilities and expenses associated with the property, including reimbursing the Landlord for all operating expenses. The tenant has two options to renew the lease at five years each, at then prevailing market rents.
NNN TENANT INFORMATION Click Here to Access
| TENANT | SF OCCUPIED | LEASE END DATE |
|---|---|---|
| PA Arizona MSA, LLC dba MVP Kids Care |
-
|
Jan 0000
|
| Embrace Hope LLC |
-
|
Jan 0000
|
CONTACTS
-
Justin Horwitz -
Jillian Moyer -
Richard Lewis -
Sean Alderman -
SVN | Desert Commercial Advisors
Presented by
4700 N 51st Ave - Bldg 6
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