prime 7th st office building investment
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Susan McCall, CCIMDesignated Broker/OwnerDirect [email protected]
Amy GibsonAssociate Broker Direct [email protected]
Prime 7th St Office Building Investment2612 N. 7th St, Phoenix, AZ 85006
www.CommercialPropertyConnect.com
For Sale: $1,030,000 ($257.50/SF)
CAP Rate: 6.0%
NOI: $61,822
Tenant: 5 Year Modified Gross lease beginning 2/1/2021
Building: 4,000/SF
Land: 0.246/AC (10,707/SF)
Property Type: Office/Retail
Year Built: 1971
Zoning: C-2
Parking: 4 Covered spaces in back and 8 uncovered in front
APN: 118-45-086
Susan McCall, CCIMDesignated Broker/Owner
Direct [email protected]
Amy GibsonAssociate Broker
Direct 602-625-5647amy@CommercialPropertyConnect.comwww.CommercialPropertyConnect.com
TENANT INFORMATION2612 N. 7th St, Phoenix, AZ 85006
Financials
Current Annual Rent (3% bumps year over year)
$70,122.00
Expenses:Taxes $7,200
Insurance $1,100
Total $8,300
NOI: $61,833 CAP: 6.0%
Tenant’s responsibility: Modified Gross Lease
• CAM’s including water, sewer, and trash• Tenant responsible for maintaining entire
building and property.• Electric• Janitorial• Communications and Data
Current tenant occupies entire building on a new 5 year lease expiring June 30, 2026. This lease has 3% annual escalations with personal Guaranty and a 5 year option to renew. This tenant is an established Automotive dealership with a second location for the Sales. This property houses their administration, back office, and sales training classes.Tenant is responsible for maintaining the property including all the CAM charges, landscaping, and parking lot maintenance.
Susan McCall, CCIMDesignated Broker/OwnerDirect [email protected]
www.CommercialPropertyConnect.com
Amy GibsonAssociate Broker
Direct [email protected]
DRAWINGS2612 N. 7th St, Phoenix, AZ 85006
Suite A Suite B
Suite C
Total for Suites A, B, and C are 4,000/SF
4,000/SF Office/Retail building for sale at a 6.0% CAP Rate. This layout has the potential for 3 tenants in the building. Currently used as an office, it could easily switch to retail with the frontage along 7th street. Interior buildout is fresh and exciting with exposed ductwork and with the wood looking ceramic tile give a terrific modern feel to the space.
Subject Property
Prime location with frontage along 7th St allows for great visibility. Only 1 1/2 miles from I10 provides easy access to anywhere in the valley. This property is located in the highly sought after central corridor. Don’t miss out!
Drive Time MapShaded area shows average 10 minute drive to location.
SERVICE AREA2612 N. 7th St, Phoenix, AZ 85006
Susan McCall, CCIMDesignated Broker/Owner
Direct [email protected]
Amy GibsonAssociate Broker
Direct 602-625-5647amy@CommercialPropertyConnect.comwww.CommercialPropertyConnect.com
For information about ordering Cox Business Services,
please contact DJ Johnson: [email protected]
(480) 340-3977