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1106 N Beeline Highway, Payson, AZ

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1106 N Beeline Highway

N Beeline Hwy
Payson, AZ 85541

Property Type:Office Sub Type:Medical Status:Existing Year Built:1988
Stories:2 Typical Floor:4,403 SF Building Size:8,806 SF
For Sale Price:$2,672,000 Price/SF:$303.43
Cap Rate:-

Sale Notes:
CBRE has been retained by the owner on an exclusive basis with respect to the disposition of a single tenant NNN Medical Office Investment located at 1106 North Beeline Highway in Payson, Arizona (the “Property”). The Property features a long-term 7-year master lease with Ali Askari, MD PC, an interventional cardiologist with multiple clinics throughout the state, who works closely with Affiliated Cardiologists of Arizona, the largest cardiology and cardiovascular medical group in Arizona. The lease features 3% annual increases throughout the duration of the term as well as a personal guarantee from Dr. Ali Askari.
The Property is conveniently located on the northwest corner of North Beeline Highway and Sherwood Drive in the beautiful desert mountain city of Payson, AZ which features approximately ±18,095 vehicles each day. The doctor has arrangements with a few other medical groups in town who share the facility with him, but are in no way featured on the master lease associated with this investment offering. As Payson continues to see steady population growth from the baby-boomer generation, demand for conveniently located healthcare services will rise as its aging population enters into their retirement years. Furthermore, the Property is located less than two miles north from Banner Payson Medical Center, the county’s major hospital, with 44 beds and 115 healthcare professionals on staff.
Dr. Askari’s seven year NNN master lease will commence at the close of escrow, creating a single tenant medical office investment opportunity with: no landlord obligations, 3% annual increases and a personal guarantee from Dr. Ali Askari.

Andrew Fosberg
(602) 735-1723

Dylan Brown
(602) 735-1714

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