Montecito Medical Real Estate Acquires Medical Office Property In Sun City West, AZ For $33.25M
14416 West Meeker Boulevard
$33,250,000
$464/SF
Building Size
71,515 SF
Asset Type
Medical Office
Closing
Oct 11, 2023
AI
A 71,515-square-foot medical office property located at 14416 West Meeker Boulevard in Sun City West, Arizona, has been sold for $33.25 million. The property, known as Del Webb Medical Plaza, was purchased by Montecito Medical Real Estate, an investment manager based in Nashville, Tennessee. The sale price equates to approximately $464.94 per square foot.
Summary of transation details
- Property Type: Medical Office
- Sale Price: $33,250,000
- Square Footage: 71,515
- Price Per Square Foot: $465
- Address: 14416 West Meeker Boulevard, Sun City West, AZ
- Market: Sun City West, AZ
Montecito Medical Real Estate, led by Chip Conk, completed the acquisition of Del Webb Medical Plaza. Kidder Mathews acted as the broker in the transaction. The property was sold by Peter S. Fine, representing Banner Health.
Sun City West Medical Office Market Snapshot
Boundary boundary · Medical Office · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.48%
Cash-on-Cash
-0.14%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93