$650,000
2226 W CAMELBACK Road
Phoenix, AZ 85015
MLS# 5920608
Status: Closed



2226 W CAMELBACK Road, Phoenix, AZ 85015
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Property Description
Used car lot and used car sales. This property is leased on a NNN lease and is an ideal investment opportunity offering phenomenal 10.14% cap rate. The current tenants lease is up but wants to sign a new 5 year Triple Net lease if you are looking for an investment. If you are an owner occupier it can be vacant within 30 days. This lot has been consistently leased for years on a triple net lease offering a great return. The previous tenant grossed over $3M per year. Includes mechanics car lift, prominent neon and fluorescent pole sign. Well lit sales area. Holds 52 cars. Prime location on busy Camelback Rd just east of I-17. High traffic count. Next to Discount Tire, near Bill Luke Chrysler Jeep and 3 blocks from the Light Rail. Opposite new mall development.

Details
Maps
Contract Info
Current Price: $650,000
Sold Price: $650,000
Status: Closed
List Date: 2019-04-03
Ownership: Fee Simple
Buyer/Broker: Y
Buyer Broker $/%: %
Location, Tax & Legal
Map Code/Grid: N33
House Number: 2226
Compass: W
Street Name: CAMELBACK
St Suffix: Road
City/Town Code: Phoenix
State/Province: AZ
Zip Code: 85015
Zip4: 3445
Country: USA
County Code: Maricopa
Legal Description (Abbrev): LOT 15 BLOCK 3 CAMELBACK GARDENS MCR 002937
Subdivision: CAMELBACK GARDENS
Assessor's Map #: 25
Assessor's Parcel #: 65
Assessor Parcel Ltr: A
Add'l Parcels: Yes
Assessor Number: 153-25-065-A
Census Tract: 107300
Legal: To be supplied in escrow
Tax Municipality: Phoenix
Taxes: 4750
Tax Year: 2018
General Property Description
Type of Property: Retail Auto Sales
Ttl Apx SqFt Bldg: 1041
# of Buildings: 1
Year Built: 1980
Uncvrd Parking Spcs: 52
Zoning: C2
Remarks & Misc
Cross Street: Camelback & 22nd Ave
Directions: West on Camelback from 19th Ave or East from I-17.
Geo Lat: 33.509839
Geo Lon: -112.10727
Status Change Info
Status Change Date: 2020-05-29
Off Market Date: 2020-05-29
Under Contract Date: 2020-05-02
Close of Escrow Date: 2020-05-28
Sold Price: $650,000
Legal Info
Township: 2N
Range: 2E
Section: 13
Lot Number: 15
Bay Info
# of Bay Doors: 1
Income & Expenses
Owner Association: No
Operating Exp: 4750
Net Operating Income: 82900
Pmt & Rate Info
Down Payment: 10000
Cap Rate: 10.78
Equity: 769000
Contact Info
List Agent Home Phn: 602-449-0278
Sold Info
Loan Type: Other
Payment Type: Other
Clsing Cost Split: Normal - N
Buyer Concession $/%: $
Seller Concession $/%: $
Property Features
Building Type: Commercial
Current Use: Automobile; Retail
Stories: 1 Story
Construction: Block; Tilt-Up
Roofing: Foam
Floors: Concrete
Ceiling Height: 8.1 Feet to 10 Feet
Cooling: Central A/C; Office A/C
Loading Facilities: Drive-in Door(s)
Interior: Finished
Exterior: Storage Yard; Pole Sign; Building Sign; Security Light(s)
Fencing: Security
Amenities: Reception Room; Kitchen
Parking: Paved Parking
Electric: APS; Over 220 Amp; 3 Phase Power
Gas: None
Water: City Franchise
Sewer: Sewer - Public
Freeway/Highway: Up to 1 Mile
Lockbox Type: None
Source of Fincl Data: Provided by Owner
Existing 1st Loan: Treat as Free&Clear
Existing 1st Ln Type: Not Applicable
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: 35,001 to 50,000
Reports/Disclosures: Seller Prop Disc Stm
Environmental: None

Listing Office: Century 21 Arizona Foothills

Last Updated: January - 03 - 2023

2226 W CAMELBACK Road, Phoenix, AZ 85015 - MLS# 5920608
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