$707,000
Phoenix, AZ 85003
MLS# 5849250
Status: Closed
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Property Description
Located in one of the highest rated walk-able locations in Downtown Phoenix, ground floor of Orpheum Lofts and across from 44 Monroe. The light rail passes within 15ft of Orpheum giving a true urban feel as well as a convenient means of transportation for patrons. Needless to say, this property is positioned impeccably. The Gothic style of Orpheum is timeless, desirable, and very rare for Phoenix. It is one of the only historic high rises in Phoenix and one of the most beautiful. Tenant is in the middle of their first option period and is one of the best--if not the best--sushi restaurants in Phoenix, Harumi Sushi.
Details
Maps
Contract Info
Current Price: $707,000
Sold Price: $707,000
Status: Closed
List Date: 2018-11-20
Ownership: Condominium
Buyer/Broker: Y
Buyer Broker $/%: %
Location, Tax & Legal
Map Code/Grid: Q34
House Number: 114
Compass: W
Street Name: ADAMS
St Suffix: Street
Unit #: C101
City/Town Code: Phoenix
State/Province: AZ
Zip Code: 85003
Zip4: 2006
Country: USA
County Code: Maricopa
Legal Description (Abbrev): LOT C101 ORPHEUM LOFTS COMMERCIAL UNIT AMD MCR 088444
Subdivision: ORPHEUM LOFTS COMMERCIAL UNIT AMD
Assessor's Map #: 21
Assessor's Parcel #: 583
Add'l Parcels: No
Assessor Number: 112-21-583
Census Tract: 114100
Legal: LOT C101 ORPHEUM LOFTS COMMERCIAL UNIT AMD MCR 088444
Tax Municipality: Maricopa - COUNTY
Taxes: 3480
Tax Year: 2018
General Property Description
Ttl Apx SqFt Bldg: 9445
Ttl Apx Net Rnt Spc: 1169
# of Buildings: 1
Year Built: 1990
Zoning: DTC-BCORE
Remarks & Misc
Cross Street: Adams and 1st Ave
Directions: South on 1st Ave. West on Adams to property on right.
Geo Lat: 33.44977
Geo Lon: -112.075385
Status Change Info
Status Change Date: 2019-08-15
Off Market Date: 2019-06-28
Under Contract Date: 2019-06-27
Close of Escrow Date: 2019-08-15
Sold Price: $707,000
Legal Info
Township: 1N
Range: 3E
Section: 8
Lot Number: C101
Income & Expenses
Owner Association: Yes
Operating Exp: 3480
Net Operating Income: 43096
Pmt & Rate Info
Cap Rate: 5.94
Equity: 725000
Contact Info
List Agent Home Phn: 602-315-9292
Sold Info
Loan Type: Cash
Payment Type: Fixed
Clsing Cost Split: Normal - N
Buyer Concession $/%: $
Seller Concession $/%: $
Property Features
Building Type: Commercial
Current Use: Mixed Use; Restaurant; Retail; Food Service; Bar
Stories: 11+ Stories
Construction: Block
Roofing: Built-Up
Floors: Concrete
Ceiling Height: 12.1 Feet to 14 Feet
Cooling: Chiller System
Loading Facilities: None
Interior: Finished; Fire Sprinklers; Public Restrooms
Exterior: Corner Lot; Building Sign
Fencing: None
Amenities: Conference Room; Exercise Room; Kitchen; LAN Compatible Copr
Parking: Fee; Public Parking; Paved Parking
Electric: Submetered System; Individual Meter; 3 Phase Power
Gas: Other (See Remarks)
Water: Submetered System; Individual Meter; Other; See Remarks
Sewer: Sewer - Public; Sewer-In & Connected
Special: Owner/Agent
Source of Fincl Data: Provided by Owner
Existing 1st Loan: Treat as Free&Clear
Existing 1st Ln Type: Not Applicable
Existing 1st Ln Trms: Not Applicable
Existing 2nd Loan: Treat as Free&Clear
Existing 2nd Ln Type: Not Applicable
Existing 2nd Ln Trms: Not Applicable
Existing 3rd Loan: Treat as Free&Clear
Existing 3rd Ln Type: Not Applicable
Existing 3rd Ln Trms: Not Applicable
Existing Othr Ln Trm: Not Applicable
Roads/Streets: Asphalt; Concrete; Curb(s) & Gutter(s); Sidewalk(s)
Reports/Disclosures: None
Use Restrictions: CC&R's; Currently Leased; Airport Flight Zone
Environmental: None
Listing Office: Metro Realty
Last Updated: August - 05 - 2020
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