1553 W Todd Dr - Office FOR SALE


Tempe, AZ 85283- South Tempe
$7,950,000 USD
602-400-5084
1553 W Todd Dr, Tempe, AZ for Sale
$7,950,000 USD
Office - FOR SALE
1/18
null | 6.85% Cap Rate

1553 W Todd Dr
Tempe, AZ 85283
South Tempe


HIGHLIGHTS

  • 100% Occupied, Stabilized Asset w/ Long-Term Tenancy; 31,242 SF, 12-suite professional office building is fully occupied with stable, in-place tenants
  • Attractive Pricing & Returns; this asset provides investors an attractive entry point into one of Phoenix Metro's most sought-after office submarkets
  • Prime Tempe Location w Superior Connectivity; located at the NWC Elliot Rd & Priest Dr, the property offers easy access to I-10, US-60 & Loop 202
  • High-Demand Tempe Submarket; Tempe is a nationally recognized submarket for technology & finance companies w/rents 15% above PHX avg
  • Functional Building w/Abundant Parking; 4:1,000 parking ratio with cross-access easement in place, accommodating tenant w/heavier parking requirements
  • Amenity-Rich Surroundings; property is surrounded by extensive retail, entertainment & over 50 restaurants, providing a neighborhood center atmosphere

OVERVIEW

Grove Parkway Court located at 1553 West Todd Drive is a 31,242 square foot, two-story professional office building fully occupied by 12 stable tenants at the northwest corner of Elliot Road and Priest Drive in Tempe, Arizona. The asset is offered at $7,950,000 ($254 PSF) at a 6.85% cap rate, with a strong in-place NOI of $544,737 and a weighted average lease term of 5.87 years, providing investors with immediate, stabilized cash flow and minimal near-term rollover risk.

FOR SALE DETAILS

PRICE

$7,950,000 USD

PRICE/SF

$254 USD /SF

CAP RATE

6.85%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Grove Parkway Court

PROPERTY TYPE

Office

TOTAL BUILDING SIZE

-

STORIES

2

BUILDING CLASS

B

YEAR BUILT

1999

SPRINKLERS

-

PARKING SPACES

126

LAND DETAILS

LAND ACRES

2.61 AC

LAND SF

113,692 SF

ZONING

PCC-1, Tempe

APN/PARCEL ID

301-41-779

ASK ABOUT THIS PROPERTY

John JacksonDiversified Partners, LLCMore Info
602-400-5084

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John JacksonDiversified Partners, LLCMore Info
602-400-5084

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.