10117 N 92nd St Scottsdale, AZ 85258

Listing agency Marcus & Millichap - Phoenix t***@ipausa.com Show Phone

Listed by Tivon Moffitt · License #AZ BR639369000

Source Crexi

Added: Apr 11 Updated: Jul 22 at 9:12AM Checked: Jul 22 at 9:12AM

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Investment Insights

Based on property information with market context.

The property is a +/- 4,934 square foot, class A outpatient ambulatory surgical center (ASC). The asset is offered in connection with a new 10-year NNN lease to Desert Vista Surgical Center, LLC, with rent commencement listed as September 1, 2022. The lease includes 3% annual increases and two five-year renewal options at the greater of the then previous year’s rent or 95% of FMV, with 3% annual increases throughout the renewal periods. The tenant is described as leasing the entire space, and the current ownership has recently completed a significant $2 million build-out for the tenant.

The ASC is located in North Scottsdale and Paradise Valley in a medical corridor and is described as adjacent to Honor Health’s Scottsdale Shea Medical Campus.

Operations are described as including cardiovascular disease, general surgery, interventional pain management, pain medicine, regenerative medicine, thoracic surgery, sports orthopedics, and general orthopedics.

Key Highlights

• 4,934± SF class A outpatient ambulatory surgical center
• New 10‑year NNN lease in place with Desert Vista Surgical Center, LLC
• Rent commencement September 1, 2022; includes 3% annual increases

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FAQs

What type of property is this?

Medical center - Class A outpatient ambulatory surgical center with a new 10-year NNN lease in place.

Where is this medical center located?

The property is located at 10117 N 92nd St Scottsdale, AZ.

What are key features of this property?

This property features: 4,934± SF class A outpatient ambulatory surgical center; New 10‑year NNN lease in place with Desert Vista Surgical Center, LLC; Rent commencement September 1, 2022; includes 3% annual increases