5501 N Oracle Road, Tucson, AZ 85704
$1,700,000
Property Type:
Commercial
Square Footage:
15,975
Lot Size (sq. ft.):
76,230
Status:
Closed
Current Price:
$1,700,000
List Date:
12/05/2023
Last Modified:
12/24/2024
Description
Oracle Office Plaza is a fully leased multi tenant office property located along the busy artery of Oracle Rd. Most tenants are service providers, requiring in person contact with clients to faciliate their business. They include a physical therapist, dentist, medical aesthetics, beauty services, insurance provider, lender, and medical infusions.
Being a multi tenant property, the risk of vacancy is spread across the nine tenants, with recent five year renewals and other tenants on longer leases.
Landlord has made improvements to the vacant spaces to attract tenants and stabilise the property. A property manager has been installed and could remain for those investors who prefer to be hands off.
More Information MLS# 22326185
Address Information
Street #: 5501
Direction: N
Street Name: Oracle
Suffix: Road
State/Province: AZ
Zip Code: 85704
County: Pima
Country: USA
Location Tax Legal
Tax Code: 105-05-0170
Area: North
Contract Information
Current Price: $1,700,000
Sold Price: $1,700,000
Listing Date: 2023-12-05
Status: Closed
Method of Title: Fee (Simple)
Short Sale: No
Status Change Info
Off Market Date: 2024-04-12
Pending Date: 2024-08-12
Sold Date: 2024-08-15
Sold Price: $1,700,000
Sold Price/SqFt: 106.42
Lot Sz Sold Prc/SqFt: 22.3
Financing: Exchange
General Property Information
Property Sub-Type: Professional/Office
Construction Status: Existing
# Units: 9
Total Parking: 85
Multi-Tenant: Yes
Year Built: 1979
Lot Dimensions: Irregular
Lot Acres: 1.75
Lot Sqft: 76230
Lot Size Source: Assessor
Combined SqFt: 15975
Source of SqFt: Appraiser
List Price/SqFt: 115.81
Lot Size Price/SqFt: 24.27
Remarks Misc
Geo Lat: 32.306312
Geo Lon: -110.979163
Showing Information
Directions: From River and Oracle, head north. Turn left onto Kanmar Pl. Entry to property is immediately on your left.
Income
Gross Scheduled Rent: 243566.37
Net Opp Income: 146438.9
Analysis
Cap Rate %: 7.51
Expenses
Figures Presented: Proforma
Unit Information
Health Care: Dental
Office: Office Building
Special Purpose: Religious Facility
Property Features
A.D.A. Compliant: Unknown
Electric
Electric Company: TEP
Sold Info
Seller Concessions: 15000
Property Features
Property Features: Conference Room
Construction: Frame - Stucco
Roof: Built-Up
Fenced Storage: No
Main Cooling: Central Air
Main Heating: Forced Air; Heat Pump
Water Heater: Natural Gas
Gas: Natural
Sewer: Connected
Water: Public
Accessibility Option: Ramped Main Level
Road Type: Chip/Seal
Parking: Free
Traffic Count: 15,001 to 35,000
Terms: Cash
Possession: Negotiable
Submit With Offer: Lender Pre-Approval; Proof of Funds
Documents
Flyer ›Listing Office: RE/MAX Excalibur Realty
Last Updated: December - 24 - 2024
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