for sale grant road place - astro...
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Richard M. Kleiner, MBAOffice Investment Properties
+1 520 546 2745 | [email protected]
EXCLUSIVELY OFFERED BY: MULTI-TENANT INVESTMENT
Diane CarlsonOffice Investment Properties
+1 520 546 2729 | [email protected] +1 520 748 7100 | picor.com
FOR SALE
GRANT ROAD PLACE5625 - 5679 E. Grant Road
Tucson, Arizona 85712
CAP Rate 8.36%
100% Leased
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2Cushman & Wakefield | PICOR10/7/2020
EXECUTIVE SUMMARY
LOCATION 5625 - 5679 East Grant Road
ASSESOR PARCEL NO. 110-15-125B, 110-15-124C
BUILDING SIZE 20,057 SF
LAND SIZE 81,161 SF
AVERAGE RENT / SF $16.40
LEASE TYPE Modified Gross
OCCUPANCY 100%
LEASED17,842 SF (11 Tenants)
2,215 SF (Master Lease)
MASTER LEASE
Upon sale, Seller to master lease the
vacant suites at $16.40 SF MG rent for
up to 24 Months, or upon Buyer’s
earlier lease-up.
CITY OF TUCSON ZONING O-3
INVESTMENT OVERVIEW
OFFERING PRICE
$2,800,000
NOI (2020)
$233,977
CAP RATE
8.36%
OCCUPANCY
100%
OFFERING TERMS
PROPERTY HIGHLIGHTS
• Offering features rent roll of medical and professional tenants
• Investment package and floorplans available upon request
• Upgraded tenant improvements throughout property
• Outstanding central location near Tucson Medical Center
• Great Grant Road visibility and individual suite signage
• Abundant At-door parking and ease of access
• Strong daytime jobs - over 112,000 in a 5-mile radius
• 42,937 VPD on Grant Road and 32,938 VPD on Craycroft Road
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3Cushman & Wakefield | PICOR10/7/2020
SITE PLAN
SUITE SF TENANT
5625 1,840 Tanque Verde Audiology Inc.
5629 820 Master Lease
5633 4,101 Pepper Viner Management Co.
5635 1,131 Veyo
5639 1,530 Arizona Pain Center
5643 925 Kevin A. Dale Insurance Agency
5647 1,395 Master Lease
5651 - 55 2,315 Nancy Rommel, NP
5659 1,000 Dr. Mordechai Twena
5663 1,000 Dr. Harbir Singh
5667 1,000 Savage Chiropractic
5671 - 75 2,000 So. Arizona Ophthalmology
5679 1,000 Dr. Debra Ann Kroack
Total: 20,057
Grant Road
5659
1,000 SF
5667
1,000 SF
5663
1,000 SF5651- 5655
2,315 SF5643
925 SF
5635
1,131 SF
5639
1,530 SF
5627
422 SF
5625
1,400 SF5625
1,840 SF
5679
1,000 SF5671 - 5675
2,000 SF5635
1,131 SF
Not to Scale5633
4,101 SF
5639
1,395 SF
10 Covered Parking Spaces
5629820 SF
AVAILABLE
Master
Lease5647
1,395 SFAVAILABLE
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4Cushman & Wakefield | PICOR10/7/2020
2020 INCOME & EXPENSE SUMMARY
Total Square Feet 20,057
Leased Square Feet 20,057
Occupancy % 100%
2020 EST. INCOME: $17.32 per sq. ft. based on Leased sq. ft.
Scheduled Gross Rent & Other Income $ 347,477
2020 EST. OPERATING EXPENSE: $5.66 per sq. ft. based on Total sq. ft.
Maintenance, Landscaping & Security $ 32,412
Real Estate Tax $ 45,520
Management, Insurance, Licenses & Accounting $ 20,343
Common Utilities & Refuse $ 15,225
Total Operating Expense $ 113,500
2020 NET OPERATING INCOME: $11.66 per sq. ft. based on Total sq. ft. $ 233,977
Sale Price $ 2,800,000
CAP Rate 8.36%
Price per Square Foot $ 139.60
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LOCATION MAP
5Cushman & Wakefield | PICOR
SUBJECT
1 Mile 12,217 $64,512 1,122 2,007
3 Miles 98,675 $62,934 7,137 14,709
5 Miles 259,872 $65,987 14,340 36,797
POPULATION DAYTIME POPULATION
AVERAGEHOUSEHOLD INCOME
EDUCATIONBACHLEOR DEGREE
DISTANCE TO
Tucson International Airport 12.1 Miles
Interstate 10 11.7 Miles
University of Arizona 7.9 Miles
Tucson Medical Center .5 Miles
Park Place Mall 3 Miles
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6Cushman & Wakefield | PICOR10/7/2020
LOCATION AERIAL
Cra
yc
roft
Rd
Grant Rd
32,9
38 v
pd
42,937 vpd
Pima Medical CampusRedevelopment
(19.55 Acres)Han
dm
aker
Reti
rem
en
t C
om
mu
nit
y
Sw
an
Rd
The ForumRetirement Community
Grant Rd
TMC Medical Park
Fountain Plaza
Apartments
Pima St
Ro
sem
on
t B
lvd
Be
ve
rly A
ve
SUBJECTGrant Road
Professional Plaza
Old Farm Executive
Park