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Carefree Office Center - Carefree AZ 7518 E Elbow Bend Rd

15,888 SF 93% Leased Office Building Carefree, AZ 85377 $2,210,000 ($139/SF) 5.47% Cap Rate

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Investment Highlights

The nicest multi-tenant office building in Carefree Town Center.
Always professionally managed and leased.
The building is in a growing market with easy access to a strong employment base.

Virtually no deferred maintenance and alway well maintained by current ownership.
Tenants tend to be long term throughout the history of current ownership.
No loans. Property is free and clear of debt.

Executive Summary

Cap Rate based on 2024 Budget with no further lease up or rollovers. With lease up at rental rates to 100% occupancy less a 7% vacancy factor will produce a Cap rate between 7.75% - 8% conservatively. See "COC Sale OM" for details.

COC Sale OM

Property Facts

Sale Type

Investment

Property Type

Office

Building Size

15,888 SF

Building Class

Year Built/Renovated

1987/2020

Price

$2,210,000

Price Per SF

$139

Cap Rate

5.47%

NOI

$120,900

Percent Leased

93%

Tenancy

Multiple

Building Height

2 Stories

Typical Floor Size

7,944 SF

Building FAR

0.38

Lot Size

0.96 AC

Zoning

C - Commercial, Carefree AZ

Parking

64 Spaces (5.3 Spaces per 1,000 SF Leased)

Amenities

Signage

Central Heating

Air Conditioning

Space Availability

2nd Fl-Ste B-6
1,091 SF
Office
Spec Suite
Now

1/2

7518 E Elbow Bend Rd, Carefree, AZ for sale Interior Photo- Image 1 of 2 — Interior Photo

7518 E Elbow Bend Rd, Carefree, AZ for sale Interior Photo- Image 2 of 2 — Interior Photo

15,734 SF Class A Garden-Style Office Building with a 4 to 1 parking ratio and excellent local amenities that include retail and restaurants in the Center of Town. Value Priced at $17/SF FS Net Electric & Janitorial.

Space	Size	Space Use	Condition	Available
2nd Fl-Ste B-6	1,091 SF	Office	Spec Suite	Now

Size

1,091 SF

Space Use

Office

Condition

Spec Suite

Available

Now

1 of 2

VIDEOS

3D TOUR

PHOTOS

STREET VIEW STREET

MAP

1/2

PROPERTY TAXES

Parcel Numbers	Multiple 216-83-060 216-83-057 216-83-061 216-83-058 216-83-059 216-83-056	Improvements Assessment	$0
Land Assessment	$59,173	Total Assessment	$277,838