For Sale
$4,838,250

6992 Broadway Blvd Tucson, AZ 85710

High-yield, net-leased office building.

Overview

Added:
Dec 11, 2024
Days on market:
137
This exceptional investment opportunity presents a fee-simple, 15,600 square foot office building located at 6992 E Broadway Blvd, Tucson, AZ 85710. The property boasts a 7.50% cap rate and a strong net operating income (NOI) of $362,644. Currently 100% occupied by NFP, an Aon Company, under a net lease with a corporate guarantee, the property features a 10-year lease commencing November 12, 2019, and expiring October 31, 2029, with 2-3 year renewal options. The lease includes 3% annual rent increases, providing a hedge against inflation. Built in 1970 and renovated in 2002, this two-story building sits on a 0.66-acre lot and benefits from its location in a high-traffic area with a combined daily vehicle count exceeding 100,000. The property's proximity to major retailers, Park Place Mall, and the University of Arizona contributes to its strong tenant base and long-term viability. The tenant, NFP, an Aon Company, has a 20+ year operating history in this location, demonstrating a commitment to the Tucson market. This well-established business enjoys a strong reputation and loyal customer base within the community. The property's location within the Tucson MSA, a region highlighted by Forbes as one of Arizona's wealthiest areas, further enhances its investment appeal. This is a rare opportunity to acquire a stable, high-performing asset with significant upside potential.

Highlights

  • Top-performing insurance branch with a history of acquisition by major players, including AON.
  • Established Tucson insurance branch with a 20+ year operating history and loyal customer base.
  • Excellent location near affluent Tucson communities, the University of Arizona, and a large population base.
  • High-traffic location at a major intersection with proximity to numerous national retailers and a super-regional mall.
  • Investment opportunity with 3% annual rent increases to hedge against inflation.

Property Details for 6992 Broadway Blvd

Property type
Office properties
Square Feet
15,600 SF
Year Built/Renovated
1970/2002
Buildings
1
Stories
2
Lot Size (sq. ft)
28,750 SF

Location Insight

City
Tucson
County
Pima
State
Arizona
Latitude
32.219945418695
Longitude
-110.84364526273

FAQs

What type of property is this?
Office property - High-yield, net-leased office building.
Where is the office property located?
The property is located at 6992 Broadway Blvd Tucson, AZ.
What is the asking price?
The asking price for this property is $4,838,250.
What are key features of this property?
This property features: Top-performing insurance branch with a history of acquisition by major players, including AON.; Established Tucson insurance branch with a 20+ year operating history and loyal customer base.; Excellent location near affluent Tucson communities, the University of Arizona, and a large population base.
How can I contact the broker?
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6992 Broadway Blvd
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