For Sale
$520,896

2701 16Th StPhoenix, AZ 85006

Phoenix Office Building, 6.5% Cap Rate

Overview

Added:
Dec 11, 2024
Days on market:
116
This exceptional 1,420 square foot medical/traditional office condo in Phoenix, Arizona, presents a compelling investment opportunity. Located at 2701 N 16th Street, Suite 111, this property boasts a strong 6.5% capitalization rate and a Net Operating Income (NOI) of $33,858. The asking price is $520,896, translating to $366.83 per square foot. Built in 1981, the property features a newly executed, triple-net (NNN) lease with Advanced Pain Management, commencing August 2024 and extending through July 2029. This lease includes a 3% annual rent increase and tenant responsibility for all repairs and expenses, including HVAC. The common areas are professionally managed by a homeowner's association. Situated in a vibrant Phoenix location, this property benefits from proximity to cultural attractions, major highways, and a diverse range of dining and entertainment options. This offering is part of a larger portfolio of seven properties, available for individual or portfolio purchase. The property's APN is 117-04-122. This is an ideal investment for those seeking a stable, high-return asset in a thriving urban environment.

Highlights

  • Prime Phoenix location near major highways, ideal for office investors.
  • Excellent access to cultural attractions including the Phoenix Art Museum, Heard Museum, and ASU Downtown Campus.
  • Abundant nearby dining and entertainment options.
  • Thriving commercial environment in the heart of Phoenix.

Property Details for 2701 16Th St

Property type
Office properties, Medical offices
Square Feet
1,420 SF
Year Built
1981

Location Insight

City
Phoenix
County
Maricopa
State
Arizona
Latitude
33.477986
Longitude
-112.046849
2701 16Th St, Phoenix, Arizona

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2701 16Th St
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