5501 N Oracle Road
Tucson, AZ 85704
MLS# 22326185
Status: Closed
15975 sqft
Property 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.
Country: USA
Street #: 5501
Direction: N
Street Name: Oracle
Suffix: Road
State/Province: AZ
Zip Code: 85704
County: Pima
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
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
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
Directions: From River and Oracle, head north. Turn left onto Kanmar Pl. Entry to property is immediately on your left.
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
Figures Presented: Proforma
Health Care: Dental
Office: Office Building
Special Purpose: Religious Facility
A.D.A. Compliant: Unknown
Conference Room: 1
Forced Air: 1
Heat Pump: 1
Lender Pre-Approval: 1
Proof of Funds: 1
Seller Concessions: 15000
Geo Lat: 32.306312
Geo Lon: -110.979163
Gross Scheduled Rent: 243566.37
Net Opp Income: 146438.9
Property Features: Conference Room
Construction: Frame – Stucco
Main Cooling: Central Air
Main Heating: Forced Air; Heat Pump
Water Heater: Natural Gas
Accessibility Option: Ramped Main Level
Traffic Count: 15,001 to 35,000
Submit With Offer: Lender Pre-Approval; Proof of Funds
Listing Office: RE/MAX Excalibur Realty
Last Updated: December – 24 – 2024
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