8454 N 90th - Medical FOR SALE


Scottsdale, AZ 85258
$10,500,000 USD
480-205-1921
8454 N 90th, Scottsdale, AZ for Sale
$10,500,000 USD
Medical - FOR SALE
1/8
null | 6.5% Cap Rate

8454 N 90th
Scottsdale, AZ 85258


HIGHLIGHTS

  • PREMIER TWO-TENANT MEDICAL OFFICE INVESTMENT IN SCOTTSDALE’S THRIVING MARKET
  • STABILITY AND STRENGTH OF TENANCY ANCHORED BY TWO HIGH-QUALITY TENANTS
  • STRATEGIC LOCATION WITH PROXIMITY TO LOOP 101 FREEWAY

OVERVIEW

PREMIER TWO-TENANT MEDICAL OFFICE INVESTMENT IN SCOTTSDALE’S THRIVING MARKET * At 100% occupancy, with a weighted average lease term of over 12 years, the project is priced to an unlevered year one yield of 6.5%, which equates to an approximate 7.3% year one after tax equivalent fee simple basis - which is unprecedented in Scottsdale as the ground lease allows an investor to depreciate 100% of the building. * The project is situated along Pima Center’s well-appointed association, featuring a prominent location with convenient ingress/egress, abundant neighboring amenities and a leveraged return IRR of 7.56% over a 7-year investment period. * Recent multi-million interior renovations, totaling over $2.6 million, eliminate near term capital expenditures and provides ease of management. Renovations included tenant contributions totaling $357k/tenant, demonstrating these tenants’ commitment to the building. STABILITY AND STRENGTH OF TENANCY * CIRCLE CITY ABA OF ARIZONA LLC | Circle City ABA is a well-established provider of Applied Behavior Analysis (ABA) therapy, delivering crucial services for children with autism. Originating as a family-owned clinic, it has expanded its reach nationwide, demonstrating a robust growth trajectory and an unwavering dedication to excellence. Its lease underscores a strong commitment to this property and to future growth in this location. * WILLOW MIDWIFE CENTER FOR BIRTH AND WELLNESS AZ, LLC | Willow Midwife Center is an award-winning birth and wellness center, renowned for providing personalized care to expectant families. At the project, it operates Willow Rebloom, a facility devoted primarily to the diagnosis, treatment, ambulatory, or short-term inpatient care of postpartum women, typically for less than 30 days. It’s lease highlights a commitment to serving the local community. STRATEGIC LOCATION WITH PROXIMITY TO LOOP 101 FREEWAY * PIMA CENTER | The property is located within a ±232- acre, master planned mixed-use business park which includes complimentary Class A office, medical office, industrial, retail, hospitality and entertainment projects. This provides walkable access to the ±23-acre Block at Pima Center, home to countless restaurant options. ROBUST MARKET AND DEMOGRAPHIC FUNDAMENTALS * COMPELLING MEDICAL OFFICE FUNDAMENTALS | Medical office leasing continues to perform well across the valley, evidenced by the 11% vacancy rate and 430K SF of net absorption over the past 12 months across Metro Phoenix. The subject property provides buyers a rare, stable medical office investment with stable upside as medical fundamentals trend upwards. (Costar) * HEALTHCARE AND WELLNESS MARKET EXPANSION | Both tenants operate within the rapidly expanding healthcare and wellness sectors, the healthcare sector remains a cornerstone of Arizona’s economy, employing over 410,000 people, which is nearly 10% of the state’s workforce in 2023. The sector contributes significantly to the state’s GDP, with projections indicating continued growth.

FOR SALE DETAILS

PRICE

$10,500,000 USD

PRICE/SF

$489 USD /SF

CAP RATE

6.5%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Medical Collaborative at Pima Center

PROPERTY TYPE

Office

PROPERTY SUBTYPE

Medical

TOTAL BUILDING SIZE

-

STORIES

1

BUILDING CLASS

B

YEAR BUILT

2005

SPRINKLERS

-

PARKING SPACES

90

LAND DETAILS

LAND ACRES

1 AC

LAND SF

43,560 SF

ZONING

C-R

APN/PARCEL ID

-

ASK ABOUT THIS PROPERTY

Geoff TurbowCBREMore Info
480-205-1921

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.

Geoff TurbowCBREMore Info
480-205-1921

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.