8535 E Hartford Dr - Office FOR SALE


Scottsdale, AZ 85255
$5,500,000 USD
602-474-9589
8535 E Hartford Dr, Scottsdale, AZ for Sale
$5,500,000 USD
Office - FOR SALE
1/15
null | 6.64% Cap Rate

8535 E Hartford Dr
Scottsdale, AZ 85255


HIGHLIGHTS

  • Generational Asset – First Time To Market Since The Property Was Constructed In 1997
  • Located 3,000 Feet From The Waste Management Open
  • Pride Of Ownership Opportunity; Major Cap X completed including new parking lot, cooling tower and exterior paint in 2024. Roof warranty until 2031.
  • 1/4 Mile From Loop 101 Freeway Providing Access To The Entire Valley
  • Average Household Income Of $134,220 And Median Home Value Of Nearly $600,000 Within A 3-Mile Radius
  • Offered Well Below Replacement Cost

OVERVIEW

Lee & Associates is honored to present a Class A medical/professional office investment opportunity within the Perimeter Center of the coveted North Scottsdale Submarket. Coyote View Plaza, located at 8535 E. Hartford Drive, Scottsdale, Arizona is a two-story, 20,743 +/- square foot medical/professional office building, constructed by the current ownership group in 1997. The property has never been offered for sale, representing a unique and exciting opportunity for the most discriminating investor seeking an irreplaceable building in a trophy location. Coyote View Plaza is located at the signalized intersection of Bell Road and Perimeter Drive, just one-half mile east of the entrance to TPC Scottsdale, home of the Waste Management Open and 1/4 of a mile west of the Loop 101 Freeway. The project is 92% leased to six (6) tenants. Four (4) of the tenants are owner-related entities. Ownership will offer a seller guarantee on the remaining vacant space (1,718 +/- SF) for 12 months following the close of escrow. The Scottsdale Office Submarket has the second-largest inventory in metro Phoenix, with approximately 14.2 million SF of office space. In past years, the absence of new construction and steady demand have kept fundamentals stable in the submarket. Moving forward, the moderate construction pipeline should help keep supply and demand in balance. Scottsdale Airpark is traditionally one of the more liquid office submarkets in Phoenix. Property is located a few blocks southeast from the recently approved new $400M Banner Healthcare Campus. Clean Phase 1, Updated ALTA Survey, Clean Property Inspection Report, and Appraisal above list price in hand and can be delivered to Buyer.

FOR SALE DETAILS

PRICE

$5,500,000 USD

PRICE/SF

$265 USD /SF

CAP RATE

6.64%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Coyote View Plaza

PROPERTY TYPE

Office

TOTAL BUILDING SIZE

-

STORIES

2

BUILDING CLASS

B

YEAR BUILT

1997

SPRINKLERS

-

PARKING SPACES

86

LAND DETAILS

LAND ACRES

1.96 AC

LAND SF

85,378 SF

ZONING

I-1

APN/PARCEL ID

215-07-001K

ASK ABOUT THIS PROPERTY

Marcus MuirheadLee & AssociatesMore Info
602-474-9589

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

Marcus MuirheadLee & AssociatesMore Info
602-474-9589

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