$485,000
Fountain Hills, AZ 85268
MLS# 6343135
Status: Closed
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Property Description
https://dprcc.com/16720fountainhills Approximately 3,170 SF of built-out mixed use retail commercial space on a 2,750 SF lot. This fully occupied property is ideal for an investor seeking a long term investment with upside potential. The first floor (2,200 SF) is utilized as a restaurant and the 2nd floor (1,125 SF), built out as a studio apartment, is currently used as office/storage space providing future opportunity for additional revenue. The property is walking distance from the famous Fountain Hills Fountain Park.
Details
Maps
Contract Info
Current Price: $485,000
Sold Price: $485,000
Status: Closed
List Date: 2022-01-17
Ownership: Fee Simple
Buyer/Broker: Y
Buyer Broker $/%: %
Location, Tax & Legal
Map Code/Grid: L41
House Number: 16720
Compass: E
Street Name: Ave Of The Fountains
St Suffix: Drive
City/Town Code: Fountain Hills
State/Province: AZ
Zip Code: 85268
Zip4: 4164
Country: USA
County Code: Maricopa
Legal Description (Abbrev): LOT 6 BLOCK 3 FOUNTAIN HILLS ARIZONA NO. 208 BLOCK 5-8 MCR 014404
Subdivision: FOUNTAIN HILLS ARIZONA NO. 208 BLOCK 5-8
Assessor's Map #: 5
Assessor's Parcel #: 127
Add'l Parcels: Yes
Assessor Number: 176-05-127
Census Tract: 216818
Legal: LOT 6 BLOCK 3 FOUNTAIN HILLS ARIZONA NO. 208 BLOCK 5-8 MCR 014404
Tax Municipality: Fountain Hills
Taxes: 2900
Tax Year: 2021
General Property Description
Type of Property: Retail Restaurant
Ttl Apx SqFt Bldg: 3170
# of Buildings: 1
Year Built: 1989
Uncvrd Parking Spcs: 22
Zoning: C-2
Remarks & Misc
Cross Street: Saguaro Blvd & Ave of the Fountains
Directions: From Saguaro Blvd, north on Ave of the Fountains, Property on right.
Geo Lat: 33.604956
Geo Lon: -111.719683
Status Change Info
Status Change Date: 2022-03-18
Off Market Date: 2022-03-02
Under Contract Date: 2022-02-26
Close of Escrow Date: 2022-03-17
Sold Price: $485,000
Legal Info
Township: 3N
Range: 6E
Section: 15
Lot Number: 6
Income & Expenses
Owner Association: No
Operating Exp: 2900
Net Operating Income: 29340
Pmt & Rate Info
Equity: 489000
Sold Info
Loan Type: Cash
Payment Type: Other
Clsing Cost Split: Normal - N
Buyer Concession $/%: $
Seller Concession $/%: $
Property Features
Building Type: Commercial
Current Use: Restaurant
Stories: 2 Stories
Construction: Frame - Wood
Roofing: Concrete
Floors: Concrete; Ceramic Tile
Ceiling Height: 10.1 Feet to 12 Feet; 12.1 Feet to 14 Feet
Cooling: Central A/C
Loading Facilities: None
Interior: Finished; Alarm System; Phone System; Public Restrooms
Fencing: None
Amenities: Kitchen
Parking: Public Parking
Electric: SRP
Gas: SW Gas
Water: City Franchise
Sewer: Sewer - Public
Showing Notification Methods: Text
Lockbox Type: None
Source of Fincl Data: Provided by Owner
Reports/Disclosures: Seller Prop Disc Stm
Environmental: None
Listing Office: DPR Realty LLC
Last Updated: March - 18 - 2022
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