Medical Office Investment
For Sale
Contact for pricing
919 12th Pl, Prescott, AZ 86305
Single tenant medical office condo with new 3-year lease.
Property Size2,000 SF
Price / SF$287.50
Days on Market708
Property Features for 919 12th Pl
General Information
Standard status
Active
Size
2,000 SF
Class
B
Property subtype
Office
Lease Type
NNN
Investment Type
Stabilized
Net Operating Income
$41,200
Building Details
Tenancy
Single
Listing Agency:
Better Homes and Gardens BloomTree Realty
Listed By:
Raymond Zogob · License #AZ SA553424000
(619) 997-3329
Source:
Crexi
Added: Nov 8, 2024
Changed: Oct 3
Last Checked: Oct 16 at 7:33AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Better Homes and Gardens BloomTree Realty
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Investment Insights
Based on property information with market context.
This 2,000 square foot medical office condo is available as a single tenant NNN investment opportunity. The property is currently leased to Nimbus Health under a new 3-year lease, which includes two 3-year renewal options with 4.0% annual rent increases. The office space is configured with 5 private exam rooms, two of which include sinks, a waiting and reception area, a nursing station, 2 provider offices, a kitchenette/breakroom, two restrooms, and a large storage room located below the unit with access from the rear entrance. The property benefits from a central location within the Prescott market and includes monument signage along 12th Place. It is situated just off Willow Creek Road, approximately two blocks north of Dignity Health YRMC Hospital west campus, within the Twelfth Place Medical Center. Ample on-site parking is available, shared in common with other professional offices in the complex, along with covered parking on the west side of the building. The property is intended for use as a medical office.
Key Highlights
- Single tenant nnn medical office investment
- New 3‑year lease with Nimbus Health and two 3‑year options
- 7.17% going‑in CAP rate**
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$32,583
Cap Rate
5.67%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$651,660
$651.7K
Cap Rate 7%
$465,471
$465.5K
Cap Rate 9%
$362,033
$362.0K
Market Conditions
NOI Build-Up for 2,000 SF
Gross rent
$58.1K $29.04/SF
− Vacancy
−$3.8K −$1.89/SF
EGI
$54.3K $27.15/SF
− OpEx
−$21.7K −$10.86/SF
NOI
$32.6K $16.29/SF
Area
Yavapai County, AZ
Vacancy
6.50%
Lease Rate
$29.04 /SF/Yr
Expense Ratio
40.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$651,660
Cap Rate 7%
$465,471
Cap Rate 9%
$362,033
Alternative Uses
Best Use
Healthcare Medical
$465.5K
$407.3K – $543.1K
NOI $32,583 @ 7.0% cap · market cap 5.67%
Second Best
Office B
$415.5K
$363.6K – $484.8K
NOI $29,088 @ 7.0% cap · market cap 5.06%
Theoretical Best
Warehouse
$670.0K
$586.3K – $781.7K
NOI $46,900 @ 7.0% cap · market cap 8.16%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,460
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 86305, AZ
19,555
Population
10,920
Households
1.8
Avg Household Size
62
Median Age
47%
College-Educated
97%
High-School Grad
588.5 sq mi
ZIP Area
33
Density / Sq Mi
$78,802
Median Household Income
$37,630
Median Earnings
$1,132
Median Rent
$627,100
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in West region
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Single tenant medical office condo with new 3-year lease.
Where is this medical office space located?
The property is located at 919 12th Pl Prescott, AZ.
What is the asking price?
The asking price for this property is $575,000.
What are key features of this property?
This property features: Single tenant nnn medical office investment; New 3‑year lease with Nimbus Health and two 3‑year options; 7.17% going‑in CAP rate**
