For Sale
$1,400,000

3120 Clearwater Dr Prescott, AZ 86305

Class A Medical Office, NNN Lease, High Cap Rate

Overview

Added:
Dec 11, 2024
Days on market:
138
This exceptional investment opportunity presents a single-tenant, Class A medical office building located at 3120 Clearwater Dr, Prescott, AZ 86305. The 4,493 square foot building, constructed in 2003, boasts a desirable location within the Crossings Commercial Subdivision. Currently 100% occupied by Dignity Health/YRMC under a Net Net Net (NNN) lease, the property offers a strong, stable income stream. The lease, with a remaining term of approximately five years, includes a five-year renewal option with a 3.0% annual rent increase, providing long-term security for the investor. The building features twelve exam rooms, two nurse stations, a business office bullpen, a manager's office, a spacious waiting room, reception area, kitchen/break room, three storage rooms, four restrooms, and a private outdoor patio. Ample parking is provided with 40 on-site spaces supplemented by street parking. The property's current cap rate is 6.74%, with a five-year average of 7.25%, representing a compelling return on investment. The property's APN is 106-49-006. This single-story building is in excellent condition and features high-quality tenant improvements and a functional floor plan, making it an ideal investment for discerning buyers seeking a stable, high-performing asset in a thriving Prescott, Arizona market.

Highlights

  • Single-tenant, Class A medical office building, NNN leased investment.
  • Credit tenant: Dignity Health/YRMC.
  • Five-year lease remaining with a five-year renewal option at 3% annual rent increases.
  • 6.74% current cap rate; five-year average cap rate of 7.25%.
  • Excellent condition with high-quality tenant improvements and functional floor plan.
  • Ample on-site parking.

Property Details for 3120 Clearwater Dr

Property type
Office properties, Medical offices
Square Feet
4,493 SF
Class
A
Year Built
2003
Stories
1

Location Insight

City
Prescott
County
Yavapai
State
Arizona
Latitude
34.5970752
Longitude
-112.4662587

FAQs

What type of property is this?
Office property - Class A Medical Office, NNN Lease, High Cap Rate
Where is the office property located?
The property is located at 3120 Clearwater Dr Prescott, AZ.
What is the asking price?
The asking price for this property is $1,400,000.
What are key features of this property?
This property features: Single-tenant, Class A medical office building, NNN leased investment.; Credit tenant: Dignity Health/YRMC.; Five-year lease remaining with a five-year renewal option at 3% annual rent increases.
How can I contact the broker?
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3120 Clearwater Dr
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