3930 E. Ray Rd., Phoenix, AZ
Office for Sale - $5,350,000 - 41,204 Sq. Ft. on 2.85 acres
Property Info
CIMLS# | 860585 |
Location 3930 E. Ray Rd. Phoenix AZ 85044 | |
Updated | July 28th, 2016 |
Type | Office |
Price | $5,350,000 |
Building | 41,204 Sq. Ft. |
Land | 2.85 acres |
Property Description
This offering consists of a highly desirable 41,204 SF multi tenant Class B office building. The property is all but full at 97% occupancy while still leaving value add opportunity as the Ahwatukee market begins to stabilize and market rents continue to increase. Foothills Center comfortably parks at a 4:1,000 SF parking ratio and offers desirable monument signage visible from Ray Rd, one of the main thoroughfares through the community. The property is in very good condition with no deferred maintenance and has been extremely well managed and maintained under the current ownership.
Location Description:
Foothills Center is strategically located in the heart of Ahwatukee off of Ray Rd and the I-10 Fwy. Ahwatukee is a high end community abutted to South Mountain Park just west of the I-10 Freeway. The community is a highly attractive employment center that offers easy access to the urban freeway system including the I-10 and Loop 202 Freeways, Sky Harbor International Airport, and a large labor pool that is highly educated and skilled in a variety of occupations. The high end building is surrounded by an upscale residential neighborhood, convenient shopping centers, and an abundance of fabulous restaurants making it very appealing for local businesses to office out of.
Highlights:
>> Ask Price - $5,350,000
>> 41,204 SF Class B Office
>> Currently 97% Occupied
>> Year 1 Projected CAP - 8.10%
>> Highly Desirable Ahwatukee Location
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** This property also has spaces available for lease.
Financials
Sales Info:
>> Commision split: 2.5%