2155 W State Rte 89A unit 205 and 206, Sedona, AZ 86336

The two condominium units are units 205 and 206 which have been joined together and total approximately 1812 square feet. They are located in Plaza West which is a two story attractive brick multi-tenant office building which was built in 1984. The condominium units are leased to one tenant, Accord Hospice of Sedona Valley LLC, who has occupied the space since 2001. The premises is used as a office to administer their hospice business. Accord Hospice is in its 4th year in this location in its first option period which expires 4/30/26. There is one additional two year option to extend the lease at fixed increases.

The annual rent as of 5/1/2025 is $31,340/yr. ($17.30/square foot). The lease is triple net with the tenant responsible for all expenses and the utilities which the lessee pays directly. Based on the listing price the capitalization rate is 6.25%