$4,618,660
Surprise, AZ 85374
MLS# 5930243
Status: Closed
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Property Description
Town Square at Surprise is an Ideal, 100% leased investment opportunity. It boasts a strong tenant line up cosisting of over 70% of national tenants. Located next to prominent retailers and restaurants such as In n Out, Starbucks, Panera, Red Robin, Comerica Bank, Dignity Health, and Kohl's department store to name a few. Please download the OM for full property information and drone video.
Details
Maps
Contract Info
Current Price: $4,618,660
Sold Price: $4,618,660
Status: Closed
List Date: 2019-05-23
Ownership: Fee Simple
Buyer/Broker: Y
Buyer Broker $/%: %
Location, Tax & Legal
Map Code/Grid: L28
House Number: 14155
Compass: W
Street Name: BELL
St Suffix: Road
City/Town Code: Surprise
State/Province: AZ
Zip Code: 85374
Zip4: 4186
Country: USA
County Code: Maricopa
Legal Description (Abbrev): LOT 2 CITY AT SURPRISE PHASE 2 MCR 116023
Subdivision: CITY AT SURPRISE PHASE 2
Assessor's Map #: 18
Assessor's Parcel #: 539
Add'l Parcels: No
Assessor Number: 501-18-539
Census Tract: 61028
Legal: LOT 2 CITY AT SURPRISE PHASE 2 MCR 116023
Tax Municipality: Surprise
Taxes: 42730
Tax Year: 2018
Marketing Name: Town Square at Surprise
General Property Description
Type of Property: Retail Investment
Ttl Apx SqFt Bldg: 12948
# of Buildings: 1
Year Built: 2008
Uncvrd Parking Spcs: 134
Zoning: PAD
Remarks & Misc
Cross Street: Bell Rd./Litchfield
Directions: Fronts Bell Road just West of Litchfield.
Geo Lat: 33.637933
Geo Lon: -112.364946
Status Change Info
Status Change Date: 2019-09-28
Off Market Date: 2019-08-01
Under Contract Date: 2019-08-01
Close of Escrow Date: 2019-10-01
Sold Price: $4,618,660
Legal Info
Township: 3N
Range: 1W
Section: 4
Lot Number: 2
Income & Expenses
Annual Elec Exp: 18791
Annual Ins Exp: 3575
Annual Landscape Exp: 11700
Annual Maint Exp: 20300
Annual Mgmt Exp: 8400
Annual Trash Exp: 5200
Owner Association: Yes
Annual Ownr Asoc Fee: 10880
Annual Other Expense: 2000
Gross Annual Sch Inc: 450730
Adjusted Gross Inc: 450730
Net Operating Income: 324354
Pmt & Rate Info
Down Payment: 4900000
Cap Rate: 6.62
Equity: 4900000
Sold Info
Loan Type: Conventional
Loan Years: 25
Payment Type: Fixed
Clsing Cost Split: Normal - N
Buyer Concession $/%: $
Seller Concession $/%: $
Property Features
Building Type: Commercial
Current Use: Retail PAD
Stories: 1 Story
Construction: Block
Roofing: Built-Up; Foam
Floors: Concrete; Sealed; Ceramic Tile; Carpet
Ceiling Height: 16.1 Feet to 28 Feet
Heating: Natural Gas
Cooling: Central A/C
Loading Facilities: None
Interior: Finished; Fire Sprinklers; Smoke Detector(s); Security System; Security Light(s); Alarm System; Phone System; Private Restrooms; Public Restrooms
Exterior: Sprinkler Sys-Ground; Landscaping; Building Sign; Security Light(s)
Fencing: Block; Partial
Parking: Free; Public Parking; Private Parking; Paved Parking
Electric: APS; Submetered System
Gas: SW Gas; City Gas
Water: City Franchise
Sewer: Sewer - Public
Freeway/Highway: 2.1 - 5 Miles
Source of Fincl Data: Provided by Owner
Existing 1st Loan: Other (See Rmks)
Existing 1st Ln Type: Fixed
Existing 1st Ln Trms: Assume-Qualify
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; Curb(s) & Gutter(s); Sidewalk(s)
Traffic Count: 35,001 to 50,000
Reports/Disclosures: ALTA Survey Availbl
Use Restrictions: CC&R's; Airport Flight Zone
Environmental: Phase I Available
Listing Office: Cardon Commercial
Last Updated: October - 10 - 2019
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