NEW Offering Memorandum (L)€¦ · 1345 E McKellips Road, Suite 103, Mesa, AZ 85203 Page...

I N V E S T M E N T S A L EMESA MEDICAL CONDO

1345 E McKellips Road, Suite 103,Mesa, AZ 85203

TANNER MILNE, SIOR, CCIM, MBA STEVE BERGHOFF, CCIM480.659.1777 x104 480.659.1777 [email protected] [email protected]

MENLO GROUPP: 480.659.1777 • F: 866.226.57661809 S Holbrook Ln, Tempe, AZ 85281menlocre.com

Confidentiality & Disclaimer

All materials and information received or derived from Menlo Group Commercial Real Estate its directors, officers, agents, advisors,affiliates and/or any third party sources are provided without representation or warranty as to completeness , veracity, or accuracy,condition of the property, compliance or lack of compliance with applicable governmental requirements, developability or suitability,financial performance of the property, projected financial performance of the property for any party’s intended use or any and all othermatters.

Neither Menlo Group Commercial Real Estate its directors, officers, agents, advisors, or affiliates makes any representation or warranty,express or implied, as to accuracy or completeness of the any materials or information provided, derived, or received. Materials andinformation from any source, whether written or verbal, that may be furnished for review are not a substitute for a party’s active conductof its own due diligence to determine these and other matters of significance to such party. Menlo Group Commercial Real Estate willnot investigate or verify any such matters or conduct due diligence for a party unless otherwise agreed in writing.

EACH PARTY SHALL CONDUCT ITS OWN INDEPENDENT INVESTIGATION AND DUE DILIGENCE.

Any party contemplating or under contract or in escrow for a transaction is urged to verify all information and to conduct their owninspections and investigations including through appropriate third party independent professionals selected by such party. All financialdata should be verified by the party including by obtaining and reading applicable documents and reports and consulting appropriateindependent professionals. Menlo Group Commercial Real Estate makes no warranties and/or representations regarding the veracity,completeness, or relevance of any financial data or assumptions. Menlo Group Commercial Real Estate does not serve as a financialadvisor to any party regarding any proposed transaction. All data and assumptions regarding financial performance, including that usedfor financial modeling purposes, may differ from actual data or performance. Any estimates of market rents and/or projected rents thatmay be provided to a party do not necessarily mean that rents can be established at or increased to that level. Parties must evaluateany applicable contractual and governmental limitations as well as market conditions,vacancy factors and other issues in order todetermine rents from or for the property.

Legal questions should be discussed by the party with an attorney. Tax questions should be discussed by the party with a certifiedpublic accountant or tax attorney. Title questions should be discussed by the party with a title officer or attorney. Questions regardingthe condition of the property and whether the property complies with applicable governmental requirements should be discussed bythe party with appropriate engineers, architects, contractors, other consultants and governmental agencies. All properties and servicesare marketed by Menlo Group Commercial Real Estate in compliance with all applicable fair housing and equal opportunity laws.

Table ofContents


TANNER MILNE, SIOR, CCIM, MBA STEVE BERGHOFF, CCIM

480.659.1777 x104 480.659.1777 x111

[email protected] [email protected]

1345 E McKellips Road, Suite 103, Mesa, AZ 85203

Mesa Medical Condo | Investment Sale


OFFERING SUMMARY

Sale Price: $640,000.00

Price PSF: $184.43 PSF

NOI: $48,414.03

CAP Rate: 7.56%

3,470 SF Medical Office Condo Investment Sale located at Stapley Drive and McKellips Road in Mesa, Arizona. Arista Imaging,a MRI and Diagnostic Imaging company occupies +/- 2,098 SF. A vacant shell space is adjacent to Arista Imaging and is +/-1,372 SF. Located in the heart of Mesa, this property is close to retail and business amenities and is centrally located betweenthe US 60, North Loop 202 Freeways and is situated near Honor Health, Dignity Health, Banner Heart Hospital, and BannerGateway Medical Center.

PROPERTY OVERVIEW

PROPERTY HIGHLIGHTS

• Medical Condo Investment Sale

• Opportunity for Value-Add Lease-Up of Vacant Shell Space or Condo and Sell Shell Parcel

• Total Condo Size: +/- 3,470 SF

• Arista Imaging: +/- 2,098 SF

• Vacant Shell: +/- 1,372 SF

• Major Crossroads: Stapley Dr & McKellips Rd

• Close Proximity to Honor Health, Dignity Health, Banner Heart Hospital, and Banner Gateway Medical Center

• Zoning: NC - City of Mesa

Mesa Medical Condo | Investment Sale1345 E McKellips Road, Suite 103, Mesa, AZ 85203

Executive Summary



Rent Roll


Total Square Footage: +/- 3,470 SF

Arista Imaging: +/- 2,098 SF

Vacant Shell: +/- 1,372 SF

Base Rent: $54,879.60

Total Rent: $62,743.78

NNN Assoc. Dues: ($8,571.96)

NNN Insurance: ($932.00)

NNN Property Taxes: ($6,848.46)

Actual NOI: $48,414.03

CAP Rate: 7.56%

Sales Price: $640,000.00

Remaining Rent Schedule: 2/1/19 - 1/30/20: $4,573.30

2/1/20 - 1/31/21: $4,756.23

Date Of Original Lease Execution: 11/18/05

Date Of Lease Renewal: 11/18/10


Income/Expense/Rent Schedule


ARISTA IMAGING

• 02/01/14 - 01/31/15 - $21.50 PSF/NNN Monthly Rent: $3,758.92








Rent Schedule



Exterior Photos


MRI Vacant Shell Space

Interior OfficeCheck-In/Check-Out


Arista Imaging/Shell Space Pictures



Floor Plan



Page10Floor Plans - Vacant Shell



Page11Aerial Map


1345 E McKellips Road, Suite103


Page12Regional Map


1 MILE 3 MILES 5 MILES

Total population 10,885 93,552 231,860

Median age 36.7 33.0 32.9

Median age (Male) 33.3 31.7 32.0

Median age (Female) 40.8 34.6 34.2

Total households 3,982 33,133 82,006

Total persons per HH 2.7 2.8 2.8

Average HH income $81,509 $65,105 $59,172

Average house value $306,031 $271,492 $213,975

* Demographic data derived from 2010 US Census


Page13Demographics Report


POPULATION 1 MILE 3 MILES 5 MILES

Total population 10,885 93,552 231,860

Median age 36.7 33.0 32.9

Median age (Male) 33.3 31.7 32.0

Median age (Female) 40.8 34.6 34.2

HOUSEHOLDS & INCOME 1 MILE 3 MILES 5 MILES

Total households 3,982 33,133 82,006

# of persons per HH 2.7 2.8 2.8

Average HH income $81,509 $65,105 $59,172

Average house value $306,031 $271,492 $213,975

* Demographic data derived from 2010 US Census


Page14Demographics Map

NEW Offering Memorandum (L)€¦ · 1345 E McKellips Road, Suite 103, Mesa, AZ 85203 Page...

Documents

Transcript of NEW Offering Memorandum (L)€¦ · 1345 E McKellips Road, Suite 103, Mesa, AZ 85203 Page...