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THE OFFICES at KIERLAND VILLAGE Single Tenant NNN Leased Opportunity | 6501 E

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THE OFFICES at KIERLAND VILLAGE Single Tenant NNN Leased Opportunity | 6501 E NNN SALE LEASEBACK MEDICAL OFFICE FOR SALE THE OFFICES AT KIERLAND VILLAGE Single Tenant NNN Leased Opportunity | 6501 E. Greenway Pkwy, Suite 160, Bldg 6, Scottsdale, AZ 85254 ERIC FERBER JAMES LIEBERTHAL, SIOR CUTLER COMMERCIAL Senior Associate | 602.386.1234 (D) | 602.332.2821 (Mobile/Text) Associate Broker | 602.386.1229 (D) | 480.529.6400 (Mobile/Text) 2150 East Highland Avenue, Suite 207, Phoenix, AZ 85016 [email protected] [email protected] | www.jimlieberthal.com 602.955.3500 | cutlercommercial.com EXECUTIVE SUMMARY THE OFFICES AT KIERLAND VILLAGE | 6501 E. Greenway Pkwy, Suite 160, Bldg. 6, Scottsdale, AZ 85254 OFFERING SUMMARY PROPERTY OVERVIEW Sale Price: $2,954,000 Excellent Sale Leaseback opportunity with well established medical tenant of more than 35 years. This opportunity provides an investor a stable, passive income with attractive 2.5% increases making this in an excellent 1031 Exchange opportunity. Cap Rate: 7% PROPERTY HIGHLIGHTS NOI: $206,816 PROPERTY• Sale Leaseback HIGHLIGHTS of 7 Years from Close of Escrow by North Scottsdale Family Medicine Associates Year Built: 2001 • Starting Market Rental Rate of $23/SF NNN PROPERTY HIGHLIGHTS • 2.5% annual increases Building Size: ±8,992 SF • North Scottsdale Family Medicine has occupied the premises since 2003, in operation since 1982 Price / SF: ±$328.51 • Tenant invested over $100,000 in cosmetic upgrades in the last 5 years • Personal Guaranty from Physicians Lease Form: AIR Single Tenant NNN • Tenant is responsible for Property Taxes and Insurance, Association Fees, Maintenance & . Replacement of the HVAC Units, and interior repairs. All information furnished is from sources deemed reliable. No representation is made as to the accuracy thereof and it is submitted subject to errors, omissions, changes, or withdrawal without notice and to any special listings conditions, including the rate and manner of payment of commissions for particular offerings imposed by principals or agreed to by the company, the terms of which are available to interested principals or brokers. All dimensions are approximate. Owner and/or Broker make no representations expressed or implied as to the accuracy of floor plan/site plan dimensions. PROPERTY DESCRIPTION THE OFFICES AT KIERLAND VILLAGE | 6501 E. Greenway Pkwy, Suite 160, Bldg. 6, Scottsdale, AZ 85254 PROPERTY DESCRIPTION +/- 8,992 SF Medical Condo located within The Offices at Kierland Village. The property includes both covered and uncovered parking at a ratio of ±4 spaces per 1,000 SF. LOCATION DESCRIPTION Centrally located in the prestigious city of Scottsdale and is surrounded by world class restaurants, shopping, hotels, and entertainment. The subject property is less than a mile west of the famous Scottsdale Quarter, Westin Kierland Resort and Spa, Kierland Commons and the Promenade. The surrounding amenities make this an ideal environment for employees and patients alike. The Offices at Kierland Village feature an eclectic mixture of medical tenants including: Abrazo Medical Group, Arizona Otolaryngology Consultants, Kierland Dental Arts, and Banner Urgent Care . Shadow anchored by Safeway, the adjacent shopping center also features Walgreens, Zipps Sports Grill, Einsteins Bros. Bagels, UPS, US Bank, and more. All information furnished is from sources deemed reliable. No representation is made as to the accuracy thereof and it is submitted subject to errors, omissions, changes, or withdrawal without notice and to any special listings conditions, including the rate and manner of payment of commissions for particular offerings imposed by principals or agreed to by the company, the terms of which are available to interested principals or brokers. All dimensions are approximate. Owner and/or Broker make no representations expressed or implied as to the accuracy of floor plan/site plan dimensions. RENT SCHEDULE THE OFFICES AT KIERLAND VILLAGE | 6501 E. Greenway Pkwy, Suite 160, Bldg. 6, Scottsdale, AZ 85254 TENANT NAME YEAR RENT PER SF NET OPERATING INCOME CAP RATE North Scottsdale Family Medicine Associates Year 1 $23.00 $206,816 7.0% Year 2 $23.58 $212,031 7.17% Year 3 $24.17 $217,336 7.35% Year 4 $24.77 $222,732 7.54% Year 5 $25.39 $228,307 7.72% Year 6 $26.02 $233,971 7.92% Year 7 $26.67 $239,816 8.12% Average Cap Rate 7.54% All information furnished is from sources deemed reliable. No representation is made as to the accuracy thereof and it is submitted subject to errors, omissions, changes, or withdrawal without notice and to any special listings conditions, including the rate and manner of payment of commissions for particular offerings imposed by principals or agreed to by the company, the terms of which are available to interested principals or brokers. All dimensions are approximate. Owner and/or Broker make no representations expressed or implied as to the accuracy of floor plan/site plan dimensions. ADDITIONAL PHOTOS THE OFFICES AT KIERLAND VILLAGE | 6501 E. Greenway Pkwy, Suite 160, Bldg. 6, Scottsdale, AZ 85254 All information furnished is from sources deemed reliable. No representation is made as to the accuracy thereof and it is submitted subject to errors, omissions, changes, or withdrawal without notice and to any special listings conditions, including the rate and manner of payment of commissions for particular offerings imposed by principals or agreed to by the company, the terms of which are available to interested principals or brokers. All dimensions are approximate. Owner and/or Broker make no representations expressed or implied as to the accuracy of floor plan/site plan dimensions. TENANT PROFILE THE OFFICES AT KIERLAND VILLAGE | 6501 E. Greenway Pkwy, Suite 160, Bldg. 6, Scottsdale, AZ 85254 Founded in 1982, North Scottsdale Family Medicine are a five-physician family medicine group practice. The practice accepts patients from 2 years old and older for acute and chronic conditions in addition to wellness. Some of the services that North Scottsdale Family Medicine Associates provide: • EKGs, cholesterol and blood sugar tests and • Treatment of long-term medical conditions such as other diagnostic evaluations diabetes, high blood pressure, and osteoporosis • Well-Woman exams, including breast exams • Treatment of minor injuries and short-term illnesses and pap smears • Well-childcare for ages 2 and older • Childhood and Adult immunizations • Acupuncture treatments • Preventive care and physical exams • Corporate, Sports, Camp and School Physicals Paul A. Babey, MD Joseph M. Brewster, MD Robert W. Hamilton, MD Dr. Paul Babey joined North Scottsdale Family Medicine Dr. Brewster earned his Medical Degree through a Dr. Robert Hamilton graduated from the University of in 2004, after twelve years of practice with Cigna combined BA/MD program at the University of North Dakota School of Medicine. After his internship Healthcare of Arizona. He received his medical degree Missouri; in addition, he completed his internship and at Maricopa County General Hospital, Dr. Hamilton from the Medical College of Virginia and is a graduate residency at the University of Missouri. Dr. Brewster is completed his training in the Scottsdale Healthcare of the Scottsdale Healthcare Family Practice residency Board Certified in Family Practice. He has been in Family Practice residency program. Board Certified in program. Dr. Babey has been in practice since 1991. He private and hospital-based practice since 2006. Family Practice is Board Certified in Family Practice. Ruth L. Eckert, MD Gerald L. Muncy, MD Dr. Eckert is a founding partner of North Scottsdale Dr. Gary Muncy joined North Scottsdale Family Family Medicine. She earned her Medical Degree from Medicine in May 2011. He received his medical degree Indiana University School of Medicine and completed from Loma Linda University School of Medicine and is a her residency at the Scottsdale Healthcare Family graduate of the Scottsdale Healthcare Family Practice Practice residency program. She trained in acupuncture residency program. He had a solo-practice in Safford, through UCLA. Dr. Ruth Eckert is Board Certified in Arizona for thirteen years prior to moving to Family Practice with a special interest in adult women’s Washington State. Dr. Muncy is Board Certified in and men’s health issues. Family Practice. All information furnished is from sources deemed reliable. No representation is made as to the accuracy thereof and it is submitted subject to errors, omissions, changes, or withdrawal without notice and to any special listings conditions, including the rate and manner of payment of commissions for particular offerings imposed by principals or agreed to by the company, the terms of which are available to interested principals or brokers. All dimensions are approximate. Owner and/or Broker make no representations expressed or implied as to the accuracy of floor plan/site plan dimensions. RETAILER MAP | POINTS OF INTEREST THE OFFICES AT KIERLAND VILLAGE | 6501 E. Greenway Pkwy, Suite 160, Bldg. 6, Scottsdale, AZ 85254 All information furnished is from sources deemed reliable. No representation is made as to the accuracy thereof and it is submitted subject to errors, omissions, changes, or withdrawal without notice and to any special listings conditions, including the rate and manner of payment of commissions for particular offerings imposed by principals or agreed to by the company, the terms of which are available to interested principals or brokers. All dimensions are approximate. Owner and/or Broker make no representations expressed or implied
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