$737,000
Phoenix, AZ 85032
MLS# 6185587
Status: Closed
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Property Description
Leases for the suites are managed gross leases. Tenants pay their share of expenses based on square footage leased out. Expenses are determined in year one of the lease. There is opportunity of rent rate upsides as the present rates are below rents comparable in the area. Owner has made improvements to the property and is well maintained. Signage is available on the individual suites as well as street pylon sign.
Details
Maps
Contract Info
Current Price: $737,000
Sold Price: $737,000
Status: Closed
List Date: 2021-01-25
Ownership: Fee Simple
Buyer/Broker: Y
Buyer Broker $/%: %
Location, Tax & Legal
Map Code/Grid: L35
House Number: 15840
Compass: N
Street Name: 32ND
St Suffix: Street
City/Town Code: Phoenix
State/Province: AZ
Zip Code: 85032
Country: USA
County Code: Maricopa
Legal Description (Abbrev): GREENWAY SHADOWS MCR 250-33 PARCEL B
Subdivision: GREENWAY SHADOWS PARCEL A B
Assessor's Map #: 36
Assessor's Parcel #: 70
Add'l Parcels: No
Assessor Number: 214-36-070
Census Tract: 103304
Legal: GREENWAY SHADOWS MCR 250-33 PARCEL B
Census Tract: 103,304
Tax Municipality: Phoenix
Taxes: 7110
Tax Year: 2020
General Property Description
Type of Property: Investment Property
Ttl Apx SqFt Bldg: 4687
Ttl Apx Net Rnt Spc: 58600
# of Buildings: 1
Year Built: 1985
Uncvrd Parking Spcs: 25
Zoning: C-2
Remarks & Misc
Cross Street: Greenway Rd. & 32nd Street
Directions: From SR 51 take Greenway Rd. west, head north on 32nd street, property is approximately 3/4 mile further down on west side.
Geo Lat: 33.631586
Geo Lon: -112.013808
Status Change Info
Status Change Date: 2021-07-01
Off Market Date: 2021-07-01
Under Contract Date: 2021-05-27
Close of Escrow Date: 2021-06-30
Sold Price: $737,000
Legal Info
Township: 3N
Range: 3E
Section: 2
Lot Number: B
Income & Expenses
Owner Association: No
Gross Annual Sch Inc: 55107
Vacancy Allowance: 5
Adjusted Gross Inc: 220428
Net Operating Income: 46198
Pmt & Rate Info
Cap Rate: 5.78
Equity: 799000
Sold Info
Loan Type: Cash
Payment Type: Other
Clsing Cost Split: Normal - N
Buyer Concession $/%: $
Seller Concession $/%: $
Property Features
Building Type: Commercial
Current Use: Service Business; Restaurant; Office; Retail
Stories: 1 Story
Construction: Block
Roofing: Foam
Floors: Ceramic Tile; Other
Ceiling Height: 8.1 Feet to 10 Feet
Heating: Heat Pump
Cooling: Office A/C
Loading Facilities: None
Interior: Finished; Other (See Remarks)
Exterior: Landscaping; Monument Sign
Fencing: Block; Partial
Parking: Free; Private Parking; Paved Parking
Electric: APS; Individual Meter
Gas: SW Gas
Water: City Franchise
Sewer: Sewer - Public
Freeway/Highway: Up to 1 Mile
Railroad: Other (See Remarks)
Showing Notification Methods: Text; Email; Phone Call
Lockbox Type: None
Source of Fincl Data: Provided by Owner
Existing 3rd Loan: Other (See Remarks)
Roads/Streets: Asphalt; Dedicated Street; Curb(s) & Gutter(s); Sidewalk(s)
Reports/Disclosures: None
Environmental: None
Listing Office: DeLex Realty
Last Updated: July - 01 - 2021
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