Elliot Bay Medical Properties Holdings III LLC Acquires Medical Office In Tucson For $5.5M
4881 East Grant Road
$5,500,000
$366/SF
Building Size
15,000 SF
Asset Type
Medical Office
Closing
May 7, 2025
AI
A medical office located at 4881 East Grant Road has been sold for $5.5 million. This property spans 15,000 square feet in the Tucson, AZ market. Built in 2008 and renovated in 2024, the fully leased building is currently occupied by the Pain Institute of Southern Arizona.
Summary of transaction details:
- Property Type: Medical Office
- Transaction Amount: $5,500,000
- Sale Date: 05/07/2025
- Square Footage: 15,000
- Price Per Square Foot: $367
- Buyer: Elliot Bay Medical Properties Holdings III LLC
- Seller: Hazen Enterprises
- Brokers: Gino J. Lollio & Travis Ives - Cushman & Wakefield
The deal was facilitated by Gino J. Lollio and Travis Ives from Cushman & Wakefield, representing the parties involved in the real estate transaction. The sale underscores a significant investment in the healthcare sector within the Tucson area.
Players
Tucson 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
2.88%
Cash-on-Cash
-0.82%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93