$1,135,000
12829 N CAVE CREEK Road
Phoenix, AZ 85022
MLS# 6417926
Status: Closed



12829 N CAVE CREEK Road, Phoenix, AZ 85022
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12829 N CAVE CREEK Road, Phoenix, AZ 85022 12829 N CAVE CREEK Road, Phoenix, AZ 85022 12829 N CAVE CREEK Road, Phoenix, AZ 85022 12829 N CAVE CREEK Road, Phoenix, AZ 85022 12829 N CAVE CREEK Road, Phoenix, AZ 85022 12829 N CAVE CREEK Road, Phoenix, AZ 85022 12829 N CAVE CREEK Road, Phoenix, AZ 85022 12829 N CAVE CREEK Road, Phoenix, AZ 85022 12829 N CAVE CREEK Road, Phoenix, AZ 85022 12829 N CAVE CREEK Road, Phoenix, AZ 85022 12829 N CAVE CREEK Road, Phoenix, AZ 85022 12829 N CAVE CREEK Road, Phoenix, AZ 85022 12829 N CAVE CREEK Road, Phoenix, AZ 85022

Property Description
Stabilized asset with 2% annual rent increases. High visibility - frontage on busy Cave Creek Road with 26K VPD, near corner of E Cactus Road with 40K VPD. Dedicated monument signage on Cave Creek Road. Net lease with minimal Landlord responsibilities. National tenants in close proximity include: Circle K, O'Reilly Auto Parts, Dairy Queen, Sherwin Williams, Home Depot, and Firestone. Popular location: 12.9K annual visits in last 12 months per Placer Ai. Rolberto's recently extended their lease in 2022 for an additional 10 years. Dense suburban location: surrounded by Cactus Cave Creek and Chateau Theirry neighborhoods with 330K residents in a 5-mile radius

Details
Maps
Contract Info
Current Price: $1,135,000
Sold Price: $1,135,000
Status: Closed
List Date: 2022-06-15
Ownership: Other (See Remarks)
Buyer/Broker: Y
Buyer Broker $/%: %
Location, Tax & Legal
Map Code/Grid: L35
House Number: 12829
Compass: N
Street Name: CAVE CREEK
St Suffix: Road
City/Town Code: Phoenix
State/Province: AZ
Zip Code: 85022
Country: USA
County Code: Maricopa
Legal Description (Abbrev): TRACT T CACTUS GARDENS 4 MCR 009742
Subdivision: CACTUS GARDENS 4
Assessor's Map #: 12
Assessor's Parcel #: 29
Add'l Parcels: No
Assessor Number: 166-12-029
Census Tract: 103502
Legal: TRACT T CACTUS GARDENS 4 MCR 009742
Tax Municipality: Phoenix
Taxes: 4263
Tax Year: 2021
General Property Description
Ttl Apx SqFt Bldg: 1156
# of Buildings: 1
Year Built: 1973
Uncvrd Parking Spcs: 12
Zoning: C-2
Remarks & Misc
Cross Street: N Cave Creek Rd & E Sweetwater Avenue
Directions: Head West off the 51 on Cactus Rd. Go South on N Cave Creek Rd. The Subject Property will be on the West side of N Cave Creek Rd.
Geo Lat: 33.603506
Geo Lon: -112.036383
Status Change Info
Status Change Date: 2022-09-15
Off Market Date: 2022-08-27
Under Contract Date: 2022-07-25
Close of Escrow Date: 2022-09-14
Sold Price: $1,135,000
Legal Info
Township: 3N
Range: 3E
Section: 15
Lot Number: n/a
Income & Expenses
Owner Association: No
Net Operating Income: 70000
Pmt & Rate Info
Cap Rate: 5
Equity: 1217000
Sold Info
Loan Type: Conventional
Loan Years: 30
Payment Type: Fixed
Clsing Cost Split: Normal - N
Buyer Concession $/%: $
Seller Concession $/%: $
Property Features
Building Type: Commercial
Current Use: Restaurant; Fast Food
Stories: 1 Story
Construction: Stucco; Frame - Wood
Roofing: Foam
Floors: Other
Ceiling Height: 8.1 Feet to 10 Feet; 10.1 Feet to 12 Feet
Heating: See Remarks
Cooling: See Remarks
Loading Facilities: Other (See Remarks)
Interior: Other (See Remarks)
Fencing: See Remarks
Parking: Free; Public Parking
Electric: Other (See Remarks)
Gas: Other (See Remarks)
Water: Other
Sewer: Other (See Remarks)
Lockbox Type: None
Source of Fincl Data: Provided by Owner
Reports/Disclosures: Other (See Remarks)
Environmental: Other (See Remarks)

Listing Office: Kenneth James Realty

Last Updated: February - 16 - 2023

12829 N CAVE CREEK Road, Phoenix, AZ 85022 - MLS# 6417926
The listing broker's offer of compensation is made only to participants of the MLS where the listing is filed.

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