9801 Metro PkwyPhoenix, AZ 85051

Property Details for 9801 Metro Pkwy

Year built

1973

Lot size

6.25 AC

Property size (Sq ft)

107,420 SF

Property type

Retail properties

Property subtype

Super regional malls

APN

149-16-417

APU

14916417

Description

This exceptional investment opportunity features a 34,481 square foot, Class B medical office building in Phoenix, Arizona, fully occupied by a credit-rated tenant under a Net Lease agreement. The 10.1-year lease with United Healthcare, a subsidiary of UnitedHealth Group (NYSE: UNH), commenced February 5, 2024, and includes 3% annual rent bumps and three 5-year renewal options. The property boasts a 5.00% cap rate and a strong NOI of $450,653. Built in 1977 and renovated in 2024, the two-story building sits on a 2.76-acre lot zoned C-2. The property benefits from its location within a major redevelopment project transforming the surrounding area, including the addition of a new light rail station providing convenient access to downtown Phoenix, the airport, and Arizona State University. This presents a compelling opportunity for investors seeking a stable, long-term investment with significant upside potential due to the ongoing revitalization of the surrounding neighborhood. The property's Net Lease structure minimizes landlord responsibilities, ensuring a predictable and low-maintenance income stream. The tenant's financial strength and long-term commitment provide exceptional security and stability for investors. This is a rare opportunity to acquire a high-quality medical office building in a rapidly developing area of Phoenix.

• CAP approach

  CAP return

  Valuation

  6%

  $25,784,668

  6.5%

  $23,801,232

  7%

  $22,101,144

• Comparable approach

  Method

  Valuation

  Relative Method

  $41,728,160

  Geo Method

  $41,728,160

• Alternative Use

  Use

  Valuation

  Residential

  $20,077,230

  Hospitality

  $18,390,634

  Educational

  $15,300,792

  Medical

  $15,827,010

  Retail

  $23,801,232

Location Insight

City

Phoenix

County

Maricopa

State

Arizona

Latitude

33.5743

Longitude

-112.12

CBSA code

38060

CBSA name

PHOENIX-MESA-SCOTTSDALE, AZ METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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