5501 N Oracle Road, Tucson, AZ 85704 (MLS# 22326185)

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

Overview

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.

Listing Details 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

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

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

Contract Information

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/SqFt: 106.42
Lot Sz Sold Prc/SqFt: 22.3
Financing: Exchange

More Information

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

Documents

Flyer ›

Listing Office: RE/MAX Excalibur Realty

Last Updated: December - 24 - 2024

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