5501 N Oracle Road, Tucson, AZ 85704
$1,700,000
Property Type:
Commercial
Square Footage:
15,975
Lot Size (sq. ft.):
24
Status:
Closed
Current Price:
$1,700,000
List Date:
12/05/2023
Last Modified:
12/24/2024
Description
Oracle Office Plaza is a fully leased multi tenant office property located along the busy artery of Oracle Rd. Most tenants are service providers, requiring in person contact with clients to faciliate their business. They include a physical therapist, dentist, medical aesthetics, beauty services, insurance provider, lender, and medical infusions.
Being a multi tenant property, the risk of vacancy is spread across the nine tenants, with recent five year renewals and other tenants on longer leases.
Landlord has made improvements to the vacant spaces to attract tenants and stabilise the property. A property manager has been installed and could remain for those investors who prefer to be hands off.
More Information MLS# 22326185
Address Information
Country: USA
Street #: 5501
Direction: N
Street Name: Oracle
Suffix: Road
State/Province: AZ
Zip Code: 85704
County: Pima
Location, Tax & Legal
Tax Year: 2023
Taxes: 42803.78
Assessments: 0
Legal Description: E150' S508' M/L N1009.02' PTN NE4 NE4 W
NEW HWY 1.75 AC SEC 14-13-13
Development Name: Oracle Office Plaza
Municipality/Zoning: Pima County - TR
Fire Protection: None
FEMA Flood Zone: No
Municipal Flood Zone: No
Tax Code: 105-05-0170
Area: North
Contract Information
Method of Title: Fee (Simple)
Short Sale: No
Current Price: $1,700,000
Sold Price: $1,700,000
Listing Date: 2023-12-05
Status: Closed
Status Change Info
Off Market Date: 2024-04-12
Sold Price/SqFt: 106.42
Lot Sz Sold Prc/SqFt: 22.3
Financing: Exchange
Pending Date: 2024-08-12
Sold Date: 2024-08-15
Sold Price: $1,700,000
Showing Information
Directions: From River and Oracle, head north. Turn left onto Kanmar Pl. Entry to property is immediately on your left.
General Property Information
Property Sub-Type: Professional/Office
Construction Status: Existing
# Units: 9
Lot Dimensions: Irregular
Lot Acres: 1.75
Total Parking: 85
Lot Sqft: 76230
Multi-Tenant: Yes
Lot Size Source: Assessor
Source of SqFt: Appraiser
List Price/SqFt: 115.81
Lot Size Price/SqFt: 24.27
Year Built: 1979
Combined SqFt: 15975
Electric
Electric Company: TEP
Gas
Natural: 1
Construction
Frame - Stucco: 1
Expenses
Figures Presented: Proforma
Sewer
Connected: 1
Unit Information
Health Care: Dental
Office: Office Building
Special Purpose: Religious Facility
Roof
Built-Up: 1
Water
Public: 1
Property Features
A.D.A. Compliant: Unknown
Conference Room: 1
Road Type
Chip/Seal: 1
Fenced Storage
No: 1
Main Cooling
Central Air: 1
Main Heating
Forced Air: 1
Heat Pump: 1
Water Heater
Natural Gas: 1
Terms
Cash: 1
Submit With Offer
Lender Pre-Approval: 1
Proof of Funds: 1
Accessibility Option
Ramped Main Level: 1
Sold Info
Seller Concessions: 15000
Parking
Free: 1
Freeway/Highway
2.1 - 5 Mile: 1
Traffic Count
15,001 to 35,000: 1
Possession
Negotiable: 1
Remarks Misc
Geo Lat: 32.306312
Geo Lon: -110.979163
Income
Gross Scheduled Rent: 243566.37
Net Opp Income: 146438.9
Analysis
Cap Rate %: 7.51
Property Features
Property Features: Conference Room
Construction: Frame - Stucco
Roof: Built-Up
Fenced Storage: No
Main Cooling: Central Air
Main Heating: Forced Air; Heat Pump
Water Heater: Natural Gas
Gas: Natural
Sewer: Connected
Water: Public
Accessibility Option: Ramped Main Level
Road Type: Chip/Seal
Parking: Free
Traffic Count: 15,001 to 35,000
Terms: Cash
Possession: Negotiable
Submit With Offer: Lender Pre-Approval; Proof of Funds
Documents
Flyer ›Listing Office: RE/MAX Excalibur Realty
Last Updated: December - 24 - 2024
The data relating to real estate listings on this website comes in part from the Internet Data Exchange (IDX) program of Multiple Listing Service of Southern Arizona. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Listings provided by brokerages other than the listing brokerage here are identified with the MLSSAZ IDX Logo.
All Information Is Deemed Reliable But Is Not Guaranteed Accurate.
Listing information Copyright 2020 MLS of Southern Arizona. All Rights Reserved.