MARICOPA, AZ (July 19, 2024) - ORION Investment Real Estate’s JT Taylor and Nick Miner, CCIM, reports representing the seller of the two-tenant, net-leased, medical property for $5,150,000. ($572 PSF).
The property is located on Maricopa's main thoroughfare, John Wayne Parkway, aka Highway 347. It was under long-term leases with SimonMed Imaging and Heartland Dental.
Maricopa, Arizona, has experienced a surge in population growth since 2010. The City boasts a young and educated demographic, with a median age of 33 and a high percentage (65.2%) of residents holding bachelor’s degrees or higher. Maricopa’s residents enjoy a strong financial standing, with a median household income of $86,000 and a stable housing market reflected in the median home value of $409,000. This combination of affluence and education creates a prime market for various businesses, particularly those catering to families, educational institutions, and healthcare providers.
JT Taylor, Vice President at ORION commented, “We had several offers on this property when we began marketing it for sale. While in escrow, we continued to get calls wanting to know the status.” Nick Miner, CCIM, Senior Vice President at ORION commented, “This was a great deal for both the buyer and seller. It is really hard to find quality properties at a good price in today’s investment market.”
Seller, K&N Investors, LLC, was represented by Taylor and Miner of ORION Investment Real Estate.
Buyer, AUC Investments II, LLC, was represented by James DeCremer at Avison Young.