$900,000
114 W ADAMS Street, C104
Phoenix, AZ 85003
MLS# 5849253
Status: Closed



114 W ADAMS Street, C104, Phoenix, AZ 85003
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114 W ADAMS Street, C104, Phoenix, AZ 85003 114 W ADAMS Street, C104, Phoenix, AZ 85003 114 W ADAMS Street, C104, Phoenix, AZ 85003 114 W ADAMS Street, C104, Phoenix, AZ 85003 114 W ADAMS Street, C104, Phoenix, AZ 85003 114 W ADAMS Street, C104, Phoenix, AZ 85003 114 W ADAMS Street, C104, Phoenix, AZ 85003 114 W ADAMS Street, C104, Phoenix, AZ 85003 114 W ADAMS Street, C104, Phoenix, AZ 85003 114 W ADAMS Street, C104, Phoenix, AZ 85003 114 W ADAMS Street, C104, Phoenix, AZ 85003 114 W ADAMS Street, C104, Phoenix, AZ 85003 114 W ADAMS Street, C104, Phoenix, AZ 85003

Property Description
Located in one of the highest rated walkable 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 Thai Basil Signature, a flagship Thai Basil location.

Details
Maps
Contract Info
Current Price: $900,000
Sold Price: $900,000
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 #: C104
City/Town Code: Phoenix
State/Province: AZ
Zip Code: 85003
Zip4: 2006
Country: USA
County Code: Maricopa
Legal Description (Abbrev): LOT C104 ORPHEUM LOFTS COMMERCIAL UNIT AMD MCR 088444
Subdivision: ORPHEUM LOFTS COMMERCIAL UNIT AMD
Assessor's Map #: 21
Assessor's Parcel #: 586
Add'l Parcels: No
Assessor Number: 112-21-586
Census Tract: 114100
Legal: LOT C104 ORPHEUM LOFTS COMMERCIAL UNIT AMD MCR 088444
Tax Municipality: Phoenix
Taxes: 3882
Tax Year: 2018
General Property Description
Ttl Apx SqFt Bldg: 9445
Ttl Apx Net Rnt Spc: 1686
# of Buildings: 1
Year Built: 1990
Zoning: HR1
Remarks & Misc
Cross Street: 1st Ave and Adams
Directions: South on 1st Ave. West on Adams to property on the right.
Geo Lat: 33.449489
Geo Lon: -112.075338
Status Change Info
Status Change Date: 2019-12-13
Off Market Date: 2019-10-18
Under Contract Date: 2019-10-18
Close of Escrow Date: 2019-12-13
Sold Price: $900,000
Legal Info
Township: 1N
Range: 3E
Section: 8
Lot Number: C104
Income & Expenses
Owner Association: Yes
Operating Exp: 3882
Net Operating Income: 55260
Pmt & Rate Info
Cap Rate: 5.97
Equity: 925000
Contact Info
List Agent Home Phn: 602-315-9292
Sold Info
Loan Type: Other
Loan Years: 3
Payment Type: Other
Clsing Cost Split: Normal - N
Buyer Concession $/%: $
Seller Concession $/%: $
Property Features
Building Type: Commercial
Current Use: Restaurant; Food Service; Bar
Stories: 11+ Stories
Construction: Block; Brick
Roofing: Built-Up
Floors: Concrete
Ceiling Height: 10.1 Feet to 12 Feet
Cooling: Chiller System
Loading Facilities: None
Interior: Finished; Fire Sprinklers; Smoke Detector(s); Private Restrooms
Exterior: Corner Lot; Dual Street Ftg; Building Sign
Fencing: None
Amenities: Conference Room; Exercise Room; Kitchen; LAN Compatible Copr
Parking: Fee; Public Parking; Paved Parking
Electric: Submetered System; Individual Meter
Gas: SW Gas
Water: Submetered System; Individual Meter
Sewer: Sewer - Public
Lockbox Type: None
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
Reports/Disclosures: None
Use Restrictions: CC&R's; Currently Leased; Airport Flight Zone; Existing Easement(s)
Environmental: None

Listing Office: Metro Realty

Last Updated: December - 13 - 2019

114 W ADAMS Street, C104, Phoenix, AZ 85003 - MLS# 5849253
The listing broker's offer of compensation is made only to participants of the MLS where the listing is filed.

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