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The Pinnacle at Desert Cove 9097 E Desert Cove Dr 31,509 SF 90% Leased Office Building Scottsdale, AZ 85260 $14,308,180 CAD ($454.10 CAD/SF) 6.43% Cap Rate

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INVESTMENT HIGHLIGHTS

90% Leased Premier Medical Office Investment in Scottsdale’s Thriving Market
Strategic Location with Exceptional Accessibility, Robust Market and Demographic Fundamentals

Exceptionally Strong Market Fundamentals in Scottsdale

EXECUTIVE SUMMARY

90% Leased Premier Medical Office Investment in Scottsdale’s Thriving Market

— Built in 2003, this garden-style, two-story multi-tenant medical office totals ±31,509 SF and is anchored by two high-quality tenants, Spooner Physical Therapy and Valley ENT.

— Leased to a diverse mix of local and regional medical users, the building offers new ownership recession-proof stability with future upside with the lease-up of the one vacant suite and an increase of the existing in-place rents, which are ±13% below market.

— Timeless concrete masonry building, built on approximately ±2.06 acres, approximately 136 parking stalls consisting of surface, covered stalls, and an extremely rare two-level parking garage consisting of approximately 13,800 SF.

— At 90% occupancy, with a weighted average lease term of 1.59 years, the existing rents average $24.36 PSF NNN – 13% under market rent, allowing an investor an immediate potential in creating value.

Exceptionally Strong Market Fundamentals

— Smaller office buildings below 20,000 SF continue to thrive and outperform larger office buildings: Within a 5-mile radius, there is a 5.9%vacancy rate for office buildings between 5,000 SF and 20,000 SF, compared to the 1% vacancy rate for office buildings above 20K square feet. (CoStar)

— Scottsdale’s office leasing activity is up nearly 150% compared to last year as tenant demand continues to increase post-pandemic. This demand provides an opportunity to increase future income as the office market trends upwards post pandemic.

— Scottsdale is home to more than 25,000 businesses with nearly 20 percent of Arizona corporate headquarters calling the city home. Furthermore, Scottsdale is visited by over 9 million people annually, adding over $3.7B of yearly economic impact to this booming economic hub.

Strategic Location with Exceptional Accessibility, Robust Market and Demographic Fundamentals

— Located just off Loop 101 and directly across from HonorHealth Scottsdale Shea Medical Center, a 427-bed acute care hospital, The Pinnacle at Desert Cove offers unmatched accessibility and visibility for healthcare providers. This proximity to a major medical hub enhances referral potential and operational efficiency for tenants, making it a highly attractive destination for medical professionals and investors alike.

— Affluent, educated population: Median household income of $115,409, with about 64% holding a bachelor’s degree or higher and a per capita income nearly double the national average.

— High healthcare demand: 28.6% of residents are 65+, driving strong demand for medical services, with low uninsured rates (6.3%) and a $5.18B healthcare sector.

PROPERTY FACTS

Sale Type

Investment

Property Type

Office

Property Subtype

Medical

Building Size

31,509 SF

Building Class

Year Built/Renovated

2003/2005

Price

$14,308,180 CAD

Price Per SF

$454.10 CAD

Cap Rate

6.43%

NOI

$920,164 CAD

Percent Leased

90%

Tenancy

Multiple

Building Height

2 Stories

Typical Floor Size

15,755 SF

Building FAR

0.35

Lot Size

2.06 AC

Zoning

I-P - Industrial Park

Parking

135 Spaces (4.28 Spaces per 1,000 SF Leased)

Balcony

Health Care and Social Assistance
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Koda Plastic Surgery is Scottsdale’s destination for boutique care and natural transformations. Located in the elegant Symphony Towers just off the I-101 and Shea, the practice combines state-of-the-art surgical technology with a serene, plant-filled environment designed to put patients at ease. What truly sets Koda apart is its passionate and highly skilled team, committed to aesthetic and surgical excellence without shortcuts or sales pressure. Every patient is welcomed with warmth and treated with personalized care, reflecting the practice’s mission: to help individuals become their very best selves—confidently and naturally.