Medical Office Building
For Sale
Contact for pricing
999 Division St, Prescott, AZ 86301
Single-tenant medical office building near Dignity Health hospital.
Property Size4,922 SF
Price / SF$344.37
Days on Market860
Property Features for 999 Division St
General Information
Standard status
Active
Size
4,922 SF
Class
A
Property subtype
Office
Zoning
BG
Lease Type
Net
Building Details
Year Built
1988
Stories
2
Tenancy
Single
Listing Agency:
Better Homes and Gardens BloomTree Realty
Listed By:
Raymond Zogob · License #AZ SA553424000
(928) 443-0766
Source:
Crexi
Added: Jun 25, 2024
Changed: Oct 25
Last Checked: Nov 1 at 5:14AM
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 single-tenant medical office building is a net-leased investment opportunity located adjacent to the Dignity Health hospital’s west campus in Prescott, Arizona. The 4,922-square-foot building is currently leased to Arizona Neurosurgery & Spine. The lease commenced on January 1, 2022, and expires on December 31, 2026. Originally constructed in 1988, the building has been recently renovated and is in excellent condition. The main level features approximately 4,000 square feet and includes 5 exam rooms with sinks, 3 provider offices (convertible into additional exam rooms), 1 large surgical room, 3 surgical prep rooms, a separate lobby and entrance for surgical procedures, 2 nursing stations, a manager's office, a large waiting room and reception desk, a stacked washer/dryer room, 2 storage rooms, 2 restrooms, and a private outside patio area. The second floor, approximately 920 square feet, offers additional office space in a large open bullpen area, a kitchen breakroom with a sink and built-in countertops, and a separate restroom. There are 24 on-site parking spaces. The tenant currently leases only the first-floor space, while the second-floor space is available for lease or use by the future building owner. The property is offered with a going-in CAP Rate of 7.1% and annual CPI increases.
Key Highlights
- Net Leased Investment with a strong 7.1% CAP Rate and annual CPI increases.
- Single Tenant Medical Office Building, conveniently adjacent to Dignity Health hospital.
- Leased to Arizona Neurosurgery & Spine until 12‑31‑26.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$80,186
Cap Rate
4.73%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,603,720
$1.6M
Cap Rate 7%
$1,145,514
$1.1M
Cap Rate 9%
$890,956
$891.0K
Market Conditions
NOI Build-Up for 4,922 SF
Gross rent
$142.9K $29.04/SF
− Vacancy
−$9.3K −$1.89/SF
EGI
$133.6K $27.15/SF
− OpEx
−$53.5K −$10.86/SF
NOI
$80.2K $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%
$1,603,720
Cap Rate 7%
$1,145,514
Cap Rate 9%
$890,956
Alternative Uses
Best Use
Healthcare Medical
$1.15M
$1.00M – $1.34M
NOI $80,186 @ 7.0% cap · market cap 4.73%
Second Best
Office B
$1.02M
$894.8K – $1.19M
NOI $71,586 @ 7.0% cap · market cap 4.22%
Theoretical Best
Warehouse
$1.65M
$1.44M – $1.92M
NOI $115,420 @ 7.0% cap · market cap 6.81%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,758
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 86301, AZ
25,115
Population
13,863
Households
1.8
Avg Household Size
57
Median Age
37%
College-Educated
96%
High-School Grad
33.4 sq mi
ZIP Area
752
Density / Sq Mi
$71,962
Median Household Income
$33,989
Median Earnings
$1,580
Median Rent
$495,100
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 building near Dignity Health hospital.
Where is this medical office space located?
The property is located at 999 Division St Prescott, AZ.
What is the asking price?
The asking price for this property is $1,695,000.
What are key features of this property?
This property features: Net Leased Investment with a strong 7.1% CAP Rate and annual CPI increases.; Single Tenant Medical Office Building, conveniently adjacent to Dignity Health hospital.; Leased to Arizona Neurosurgery & Spine until 12‑31‑26.
