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15795 N 76th Street - Scottsdale Airpark, Scottsdale, AZ

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15795 N 76th Street - Scottsdale Airpark

Scottsdale, AZ 85260-1799 - Scottsdale Airpark Ind Submarket

Property Type:Industrial Sub Type:Warehouse Status:Existing Year Built:1997
Building Size:14,020 SF Land Area:1 AC (43,560 SF)
Ceiling Height:18'0'' Loading Docks:- Rail:- Power:800a/277-480v 3p
For Sale Price:$2,548,000 Price/SF:$181.74
Cap Rate:5.28 %
Zoning:I-P Sprinklers:Dry Drive Ins:2 tot./12'0''w x 14'0''h Cranes:-
Parking:Free Surface spaces are available; Ratio of 2.67/1,000 SF Amenities:Air Conditioning, Fenced Lot

This building has a security system in place, a fenced rear yard with rolling gate. There is an existing grounding system, which disipates static electricity. T1 lines and redundant Fiber Optic are in place. It is an all air-conditioned building that is 45% built-out. The rear yard is fenced and the building has a truckwell.

Sale Notes:
Faris Lee Investments is pleased to offer for sale the fee simple interest (land & building) in a freestanding, single tenant, NNN leased, Flex / R & D / Industrial Property, located in Scottsdale, AZ. The tenant, Trapp Technology, has approximately 5-years remaining in the current term. The lease features very rare 5.26%-6.25% annual increases throughout the initial term and 1 (3-Year) option period, which generates over 25% NOI growth in the initial term and hedges against inflation. Existing rent is undermarket.
The subject property is located near the hard corner intersection of N. 76th Street and N. Greenway Hayden Loop (18,000 vehicles per day). Additionally, the subject property is located approximately 0.5 miles away from two major Scottsdale thoroughfares, N. Scottsdale Road (35,000 VPD) and E. Frank Lloyd Wright Blvd (41,000 VPD) . The subject property is ideally located within 1 mile of the Scottsdale Executive Airport where most local corporate aircraft operate. There are more than 178,000 permanent residents with an average household income higher than $119,000 within 5 miles of the subject property. Additionally, the trade area is supported by more than 177,000 daytime employees within a 5 mile radius.

Faris Lee Investments
Jeff Conover
(949) 221-1810

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