8950 N Oracle Rd
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8950 N Oracle Rd
41,134 SF Office Building Oro Valley, AZ 85704 $11,250,000 ($273/SF) 7.31% Cap Rate
Investment Highlights
- Irreplaceable property and location in desirable Oro Valley
- Priced well below replacement costs, with the site built into the foothills of Pusch Ridge in the Catalina Mountains
- Excellent 1031 exchange property, with 7.5 years of lease term and two 5 year extension options
- Corporate HQ along State Route 77 (Oracle Rd) with easy access throughout So Arizona
- Landlord favored structure of the NNN lease in place
- Software tenant, backed by Granicus a global leader in government software, owned by Vista Equity Partners and Harvest Partners
Executive Summary
This is an exceptional opportunity to acquire a single-tenant NNN office building located in Oro Valley, AZ, fully leased to Simpleview, a leading software company wholly owned by Granicus, Inc. Granicus is majority-owned by Vista Equity Partners and Harvest Partners, providing additional financial strength and stability.
The property is offered for $11,250,000 at a cap rate of 7.31%, with a net operating income of $822,277. The lease rate is currently $19.64 per square foot, with annual rent increases of 3%, ensuring steady income growth over the lease term, which runs until May 31, 2032.
The property features 41,134 rentable square feet, providing a price of $273.48 per square foot, making this an attractive investment opportunity for a high-credit tenant with a long-term lease in place.
The property is offered for $11,250,000 at a cap rate of 7.31%, with a net operating income of $822,277. The lease rate is currently $19.64 per square foot, with annual rent increases of 3%, ensuring steady income growth over the lease term, which runs until May 31, 2032.
The property features 41,134 rentable square feet, providing a price of $273.48 per square foot, making this an attractive investment opportunity for a high-credit tenant with a long-term lease in place.
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Property Facts
Sale Type
Investment NNN
Sale Condition
1031 Exchange
Property Type
Building Size
41,134 SF
Building Class
A
Year Built
2007
Price
$11,250,000
Price Per SF
$273
Cap Rate
7.31%
NOI
$822,277
Tenancy
Single
Building Height
2 Stories
Typical Floor Size
20,567 SF
Building FAR
0.20
Lot Size
4.61 AC
Zoning
C-1, Town of Oro Valley - C1 zoning in Oro Valley, Arizona is for commercial activities that serve a regional area, focused on shopping centers and commercial development
Parking
199 Spaces (4.83 Spaces per 1,000 SF Leased)
Amenities
- Bus Line
- Signage
- Balcony
DEMOGRAPHICS
Demographics
1 Mile
3 Mile
5 Mile
2020 Population
3,997
29,558
103,698
2024 Population
3,859
30,330
106,137
Population Growth '20-'24
-3.5%
2.6%
2.4%
2020 Households
1,912
13,602
45,282
2024 Households
1,840
13,975
46,324
Household Growth '20-'24
-3.8%
2.7%
2.3%
Average Age
46
48
45
Median Household Income
$73,695
$89,763
$86,473
Daytime Employees
1,090
16,468
54,577
Total Businesses
131
2,096
6,121
College Degree + Higher
42%
48%
47%
PROPERTY TAXES
| Parcel Number | 225-12-066E | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $591,028 |
PROPERTY TAXES
Parcel Number
225-12-066E
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$591,028
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8950 N Oracle Rd
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