Listed by Marcus & Millichap - Phoenix, Institutional Property Advisors
$9,460,000
300 S. Craycroft Rd
Details
APN 128-10-079C
Property Type Office
Sub Type Traditional Office
Square Footage 42,000
Net Rentable (SqFt) 42,000
Units 7
Cap Rate 7.50%
NOI $709,185
Occupancy 100%
Tenancy Multi
Price per SqFt $225
Class A
Year Built 2006
Buildings 1
Stories 4
Acreage 2.220
Zoning PAD-1
Parking Spaces 294 per 1,000 sq ft
Investment Type Stabilized
Ownership Fee Simple Interest
100% Leased Long Term WALT Office | 42,000 SF with Parking Structure
Marketing description
Marcus & Millichap is pleased to present the opportunity to acquire 300 S. Craycroft Road, a well located, institutional quality Class A office Asset in Tucson, Arizona (the "Property" or "Asset"). The Offering provides investors with a stabilized, two tenant office investment generating attractive in place yield, contractual rent growth, and durable cash flow from institutional and professional users, within a supply constrained corridor.
Investment highlights
- Institutional-quality Class A office building totaling ±42,000 RSF, originally developed in 2006
- Two-story parking structure providing an above-market parking ratio of ±7.00 spaces per 1,000 RSF, a key competitive advantage for high-employee-density occupiers
- Currently 100% occupied with 5.5-year WALT
- Brookline College executed a 10-year lease in 2022 taking the first, second, and third floor of the building
- iCR has occupied the 4th floor since 2019 and recently signed a 5-year extension demonstrating the importance of this Asset
- Annual rent increases of 3.0% for each of the tenants
- Centrally located within Tucson's most established office corridor, offering immediate access to Downtown Tucson, the University of Arizona, Davis Monthan Air Force Base, and Tucson International Airport
- Exceptional regional connectivity via Broadway Boulevard and Interstate 10, facilitating efficient commuter access across Midtown, Downtown, and the broader Tucson MSA
Listing Contacts
Listed by Marcus & Millichap - Phoenix, Institutional Property Advisors
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$709,185.00
$59,098.75/mo
Valuation Metrics
0
DSCR
7.5%
Cap Rate
7.5%
ROI
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