- For sale
Impressive, quality-built multi-tenant professional office building for sale at 1254 W. University Avenue in Flagstaff, Arizona. This is an excellent, fully leased investment property. Building size is ±10,643 square feet on a ±56,630-square-foot lot. Sale price is $2.9 million.
Property tours by appointment only. Contact brokers to schedule a tour and to request the Offering Memorandum.
Current owner is the principal occupant of the building. Owner is proposing a sale guarantying to the new purchaser net rent for five years. Current occupants are historic, with short-term leases at under-market rental rates. Owner may or may not continue to occupy during the five-year rent guaranty, depending upon new buyer’s purchase goals.
Recent comparable market data supports the asking price at a 7 percent capitalization rate (see comparable market data on page 3 of the property brochure below).
Guaranteed rent structure, management, ongoing leasing and existing tenant relations are all matters to be negotiated and structured to meet the financial goals of the new owner. This property is perfect for those seeking tax-deferred exchange properties.
Interior build-out: custom suite configurations, suites individually metered, ADA compliant throughout, high ceilings, architectural ceiling treatments, custom wood trim, upgraded windows, second floor conference room.