- For sale
UNDER CONTRACT: Investment opportunity to acquire 163 N. Dobson Road in Mesa, Arizona. This ±24,000-square-foot medical tech training campus is 100 percent leased to Arizona College, an accredited medical technician vocational school.
With 10 campuses across four states; there are four campuses throughout Greater Phoenix. Enrollment at the Property is 300, with room to grow as demand for medical-related workers continues to increase.
Visit our property website to view the offering memorandum.
Sale price is $4,814,000 ($201 per square foot). Cap rate is 7.65 percent. Estimated year one NOI is $370,581. Annual NOI increases are approximately 3.0% each December.
Situated just north of Main Street, with excellent visibility along Dobson Road, the attractive, highly efficient Property is centrally located and easily reached from all corners of the Valley. A regional Valley Metro Transit Center immediately adjacent to the Property hosts a Valley Metro Light Rail station, a large Park & Ride, and a Valley Metro Bus hub.
This single-tenant investment opportunity offers a safe, reliable income stream from a reputable training center for healthcare technicians, at a modified gross rental structure that includes annual rental increases of approximately 3.0% during the lease term.
The Property is built with attractive, high-quality materials and provides a building configuration that is easy to work with, resulting in a highly efficient and convenient floor plan.
Arizona College offers convenient 10-month health career programs during a time of increased demand for medical works. With its large increase in enrollment with ample room to grow, the school projects a 2020 revenue of $60 million.
Arizona College was founded almost 30 years ago in 1991, and has 10 campuses across four states.