$4,500,000
Phoenix, AZ 85022
MLS# 5861701
Status: Closed
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Property Description
C2 Fantastic Opportunity to own a 47,000sf+ property on nearly 3 acres! Only $116/sf and 92% occupied (occupancy increasing)! Occupied spaces have been nicely updated/remodeled! Suites features area with 18 executive offices as well as 19 salon suites area - higher return/sf $15.39 now! Property has undergone vast improvements and continues to do so; improvements already completed are roof, parking, LED lighting, programmable thermostats, new kitchens and more! Exterior paint in progress, new cooling tower (all stainless steel) has been ordered and installed this winter. Property is 3 stories and features gorgeous mountain views! Center atrium features large fountain/pond with a variety of koi fish. Conveniently located near 51 and 101 freeways! 10 Min to PV, Scottsdale, Desert Ridg
Details
Maps
Contract Info
Current Price: $4,500,000
Sold Price: $4,500,000
Status: Closed
List Date: 2019-01-01
Ownership: Fee Simple
Buyer/Broker: Y
Buyer Broker $/%: %
Location, Tax & Legal
Map Code/Grid: L35
House Number: 14040
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): COM S4 COR SEC TH E 1098.20F TH N 15D 24M E 1068.38F TH N 74D 35M W 55F TPOB TH N 15D 24M E 458.
Assessor's Map #: 51
Assessor's Parcel #: 4
Assessor Parcel Ltr: E
Add'l Parcels: Yes
Assessor Number: 214-51-004-E
Census Tract: 103607
Legal: COM S4 COR SEC TH E 1098.20F TH N 15D 24M E 1068.38F TH N 74D 35M W 55F TPOB TH N 15D 24M E 458.
Tax Municipality: Phoenix
Taxes: 55395
Tax Year: 2019
General Property Description
Ttl Apx SqFt Bldg: 47397
# of Buildings: 1
Year Built: 1986
Uncvrd Parking Spcs: 129
Zoning: C2
Remarks & Misc
Cross Street: Cave Creek Road and Cactus
Directions: North of Cactus and Cave Creek Road, on West Side of Road
Geo Lat: 33.615049
Geo Lon: -112.034888
Status Change Info
Status Change Date: 2020-03-16
Off Market Date: 2020-03-06
Under Contract Date: 2019-11-27
Close of Escrow Date: 2020-03-15
Sold Price: $4,500,000
Legal Info
Township: 3N
Range: 3E
Section: 10
Income & Expenses
Owner Association: No
Operating Exp: 55395
Net Operating Income: 471000
Pmt & Rate Info
Cap Rate: 8.57
Equity: 5495000
Contact Info
List Agent Home Phn: 480-255-7327
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; Office; Other (See Remarks)
Current Use: Mixed Use; Medical/Dental; Office; Other; See Remarks
Stories: 3 - 4 Stories
Construction: Block; Metal; Other (See Remarks)
Roofing: Foam; Rolled
Floors: Vinyl; Wood; Ceramic Tile; Carpet; Other
Ceiling Height: 8 Feet or Less; 8.1 Feet to 10 Feet
Heating: Heat Pump; Other; See Remarks
Cooling: Office A/C; Chiller System; Other; See Remarks
Loading Facilities: None
Interior: Finished; Finished to Suit; Phone System; Private Restrooms; Public Restrooms
Fencing: None
Parking: Free; Public Parking; Paved Parking
Electric: APS
Gas: SW Gas
Water: City Franchise
Sewer: Sewer - Public
Lockbox Type: None
Special: Owner/Agent
Source of Fincl Data: Projected Proforma
Existing 1st Loan: Treat as Free&Clear
Existing 1st Ln Type: Fixed
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
Traffic Count: 15,001 to 25,000
Reports/Disclosures: None
Environmental: None
Listing Office: Prestige Realty
Last Updated: August - 06 - 2021
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