9590 E Ironwood Square Dr - Medical CONDO FOR SALE


Scottsdale, AZ 85258- Central Scottsdale
$2,950,000 USD
602-327-0064
9590 E Ironwood Square Dr, Scottsdale, AZ for Sale
$2,950,000 USD
Medical CONDO - FOR SALE
1/15
null | 5.66% Cap Rate

9590 E Ironwood Square Dr
Scottsdale, AZ 85258
Central Scottsdale


HIGHLIGHTS

  • Tenant has been in place since 2016
  • 4C Medical Group was bought out by Optum Inc in 2019
  • Tenant modified and extended lease to September 2028
  • Tenant just finished Tenant Improvements to property, at their own cost and expense
  • Tenant reimburses for CAM, Insurance, Taxes, and Management (Up to 4%)
  • Landlord responsible for HVAC

OVERVIEW

- Value Add investment in Scottsdale, Arizona near HonorHealth Scottsdale Shea. A major hospital in the immediate area. - Extremely Strong Tenant with almost a decade of historical lease term at the property and lease that expires in late 2028 - Optum Care is a division of the United Health Care network. One of America's largest integrated healthcare providers - Tenant just finished their own TI's in the space after the most recent lease renewal - Tenant reimburses for CAM, Insurance, and Taxes. Owner is responsible for HVAC - Office condo property alleviates all exterior maintenance (handled by association) for both the tenant as well as the owner making this an impeccably maintained investment - Tenant leases on the usable square footage, not the rentable square footage, providing an owner upside at lease renewal to recapture that unrealized difference.

FOR SALE DETAILS

PRICE

$2,950,000 USD

PRICE/SF

$379 USD /SF

CAP RATE

5.66%

# OF UNITS

1

CONDO SIZE

-

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Bldg A

PROPERTY TYPE

Office

PROPERTY SUBTYPE

Medical

TOTAL BUILDING SIZE

40,283 SF

STORIES

2

BUILDING CLASS

B

YEAR BUILT

2004

SPRINKLERS

-

PARKING SPACES

150

LAND DETAILS

LAND ACRES

0.6 AC

LAND SF

26,136 SF

ZONING

C-O, Scottsdale

APN/PARCEL ID

217-53-944,217-53-973

ASK ABOUT THIS PROPERTY

Richard LewisSVN | Desert Commercial AdvisorsMore Info
602-327-0064

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Richard LewisSVN | Desert Commercial AdvisorsMore Info
602-327-0064

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