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Office

Rillito Business Park

4570 N 1st Ave, Tucson, AZ 85718

Listing Price: $1,725,000

Cap Rate
6.49%
Gross SF
7,252
Rentable SF
7,252
Price/Gross SF
$237.87
Lot Size
0.86 acres
Year Built
2002

Investment Overview

Marcus & Millichap is pleased to exclusively offer for sale the CEO Concierge Executive Suites at Rillito Business Park. The business park is a mixture of medical and professional office uses, while the Concierge Executive Suites hosts 23 small businesses uses manly focused on salon, barber, beauty and other cosmetics. Currently 100 percent leased with strong demand for any suite should they become available, the offering is well positioned to benefit from healthy rental increases over the immediate years ahead and also from increased income from the additional offered services. The heavy buildout and water access to each suite make the property costly to replicate and difficult for the tenant uses to find a similar product. Situated in the immediate area of the Catalina Foothills and approximately 10-15 minutes off I-10, the property is in a highly desired location. The immediate area offers an intriguing setting with Rillito Park and Race track to the immediate north and the Rillito River to the immediate south. The area is also surrounded by many new developments and an abundance of amenities. The offering provides a turn-key operation to the purchasing investor with a scheduled first year Total Return of ±15.6 percent. Near term proforma rental increases and increases in additional services offer a Total Return as great as 25 percent in the following years. Market conditions offer attractive financing with rates at present of ±3.5 percent interest on a 25 year amortization and a 25 percent down payment. Contact an MMCC agent for further details.

Investment Highlights

  • Fully leased with high tenant demand for space within offering
  • Current build out and services make it difficult to replicate or for tenants to vacate
  • Located in an ideal setting in the Northeastern part of Tucson near to the Catalina Foothills
  • Complemented by a number of high-end medial and professional office uses in the business park

Exclusively Listed By

Office

Rillito Business Park

Listing Price: $1,725,000

Cap Rate
6.49%
Gross SF
7,252
Rentable SF
7,252
Price/Gross SF
$237.87
Lot Size
0.86 acres
Year Built
2002

Investment Highlights

  • Fully leased with high tenant demand for space within offering
  • Current build out and services make it difficult to replicate or for tenants to vacate
  • Located in an ideal setting in the Northeastern part of Tucson near to the Catalina Foothills
  • Complemented by a number of high-end medial and professional office uses in the business park

Investment Overview

Marcus & Millichap is pleased to exclusively offer for sale the CEO Concierge Executive Suites at Rillito Business Park. The business park is a mixture of medical and professional office uses, while the Concierge Executive Suites hosts 23 small businesses uses manly focused on salon, barber, beauty and other cosmetics. Currently 100 percent leased with strong demand for any suite should they become available, the offering is well positioned to benefit from healthy rental increases over the immediate years ahead and also from increased income from the additional offered services. The heavy buildout and water access to each suite make the property costly to replicate and difficult for the tenant uses to find a similar product. Situated in the immediate area of the Catalina Foothills and approximately 10-15 minutes off I-10, the property is in a highly desired location. The immediate area offers an intriguing setting with Rillito Park and Race track to the immediate north and the Rillito River to the immediate south. The area is also surrounded by many new developments and an abundance of amenities. The offering provides a turn-key operation to the purchasing investor with a scheduled first year Total Return of ±15.6 percent. Near term proforma rental increases and increases in additional services offer a Total Return as great as 25 percent in the following years. Market conditions offer attractive financing with rates at present of ±3.5 percent interest on a 25 year amortization and a 25 percent down payment. Contact an MMCC agent for further details.

Exclusively Listed By

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