17100 E Shea Blvd, Fountain Hills, AZ 85268

17100 E Shea Blvd, Fountain Hills, AZ 85268

Medical Office - Fountain Hills AZ

OFFERING SUMMARY

17100 E Shea Blvd, Fountain Hills, AZ 85268

• FireRock Office Center for Sale or Lease
• Asking Price:  $2,500,000
• Investment Type: Owner/User
• Buildings: Building 1 and Building 2
• ​Floor System: Concrete slab on aggregate base coarse (ABC) fill
• ​Structure: Concrete block construction
• ​Roof: Flat built-up structure on plywood deck with partial tile
• ​Exterior Walls: Painted stucco with stone veneer
• ​Interior Walls: Gypsum wallboard over metal studs with batt insulation
• ​Ceiling: ±10’ High suspended metal ceiling grid system with 2’x2’ and 2’x4’ acoustic tile panels.​
• ​Windows: Typical dual-pane, dark commercial bronze aluminum framed clear tempered glass.​
• ​Doors: Store-front glass doors in aluminum frames and solid wood core interior doors.​
• ​HVAC: Roof-mounted head pump/air conditioning units.​
• ​Fire Suppression: Fully sprinklered
• ​Plumbing: Each building has common restrooms
• ​Electrical: 200 amp, 120/208 volt, 3 Phase, 4 wire supply

INCOME AND EXPENSES:

Owner/User project with existing rental income. Below market rates means potential upside!

• Income (rent plus parking fees) – $172,313
• Expenses – $74,485
• NOI –  $98,828 
• Load Factor – 1.9% Tenancy – 
• ​10 Occupied Suites: 54.70% 
• ​11 Vacant Suites: 45.30% 

Annual Cams – $5.98 PSF 

New Improvements (in the last 36 months) 

• ​Parking Lot
• ​Roof (with Warranty)
• ​Landscaping
• ​New Exterior Paint 

Firerock Office Center is comprised of two (2) buildings totaling ±22,041 square feet of multi-tenant office space.​ The properties are located in an office complex that fronts along the premier arterial providing access to the affluent town of Fountain Hills within the greater Phoenix area.​ With an in-place occupancy of 54.70%, this offering represents an opportunity to acquire high quality office property with a rare, and highly desirable, mix of stability and upside potential.​