$1,115,000
5402 W GLENDALE Avenue
Glendale, AZ 85301
MLS# 6103079
Status: Closed



5402 W GLENDALE Avenue, Glendale, AZ 85301
  1 / 18  
5402 W GLENDALE Avenue, Glendale, AZ 85301 5402 W GLENDALE Avenue, Glendale, AZ 85301 5402 W GLENDALE Avenue, Glendale, AZ 85301 5402 W GLENDALE Avenue, Glendale, AZ 85301 5402 W GLENDALE Avenue, Glendale, AZ 85301 5402 W GLENDALE Avenue, Glendale, AZ 85301 5402 W GLENDALE Avenue, Glendale, AZ 85301 5402 W GLENDALE Avenue, Glendale, AZ 85301 5402 W GLENDALE Avenue, Glendale, AZ 85301 5402 W GLENDALE Avenue, Glendale, AZ 85301 5402 W GLENDALE Avenue, Glendale, AZ 85301 5402 W GLENDALE Avenue, Glendale, AZ 85301 5402 W GLENDALE Avenue, Glendale, AZ 85301 5402 W GLENDALE Avenue, Glendale, AZ 85301 5402 W GLENDALE Avenue, Glendale, AZ 85301 5402 W GLENDALE Avenue, Glendale, AZ 85301 5402 W GLENDALE Avenue, Glendale, AZ 85301 5402 W GLENDALE Avenue, Glendale, AZ 85301

Property Description
Prominent corner location in Glendale Downtown area. 80% leased property with extended leases. Property is clean and in good repair. Upgrades completed on building in 2011 for roofing and additional space added to end building. Plenty of open parking. Great traffic count. Active and busy business' in area. City growth in progress. Heavy business activity for downtown during Holiday Seasons. 9 Parcels make up property. Good tenant mix. 2 Prominent Monument Signage. CAP Rate is a +10% when fully leased and lease increases over next 2 years will improve.

Details
Maps
Contract Info
Current Price: $1,115,000
Sold Price: $1,115,000
Status: Closed
List Date: 2020-07-14
Ownership: Fee Simple
Sub Agent $/%: %
Buyer/Broker: Y
Buyer Broker $/%: %
Location, Tax & Legal
Map Code/Grid: N32
House Number: 5402
Compass: W
Street Name: GLENDALE
St Suffix: Avenue
City/Town Code: Glendale
State/Province: AZ
Zip Code: 85301
Zip4: 2622
Country: USA
County Code: Maricopa
Legal Description (Abbrev): PARK PLACE MCR 4/40 LT 18 BLK 6 S 112.5F
Subdivision: PARK PLACE BLKS 2,5,6
Assessor's Map #: 17
Assessor's Parcel #: 103
Assessor Parcel Ltr: A
Add'l Parcels: Yes
Assessor Number: 147-17-103-A
Census Tract: 92500
Legal: PARK PLACE MCR 4/40 LT 18 BLK 6 S 112.5F
Tax Municipality: Maricopa - COUNTY
Tax District: Marico
Taxes: 12835
Tax Year: 2020
General Property Description
Type of Property: Commercial Retail
Ttl Apx SqFt Bldg: 10952
Ttl Apx Net Rnt Spc: 10952
# of Buildings: 3
Lot Size Dimensions: 228 X 227
Year Built: 1961
Uncvrd Parking Spcs: 56
Zoning: C2
Remarks & Misc
Cross Street: Glendale Avenue and 54th Avenue
Directions: This lot sits on the very prominent corner of 54th Ave. and Glendale. Diagonally across the Street from Cerreta Candy Company.
Geo Lat: 33.538732
Geo Lon: -112.175199
Status Change Info
Status Change Date: 2021-06-21
Off Market Date: 2021-06-21
Under Contract Date: 2021-05-21
Close of Escrow Date: 2021-06-21
Sold Price: $1,115,000
Legal Info
Township: 2N
Range: 2E
Section: 5
Lot Number: 18
Bay Info
# of Bays: 2
Bay Door Height: 8
Bay Door Width: 16
Bay Size: 720
Max Span Lineal Ft: 20
Income & Expenses
Annual Elec Exp: 500
Annual Ins Exp: 7700
Annual Legal & Acctg: 1200
Annual Maint Exp: 3200
Annual Mgmt Exp: 5040
Annual Trash Exp: 2700
Annual Wtr/Swr Exp: 1800
Owner Association: No
Annual Other Expense: 36400
Operating Exp: 71375
Gross Annual Sch Inc: 192800
Vacancy Allowance: 0.02
Adjusted Gross Inc: 188944
Net Operating Income: 125165
Pmt & Rate Info
Cap Rate: 10.47
Equity: 1195000
Sold Info
Loan Type: Cash
Payment Type: Other
Clsing Cost Split: Normal - N
Buyer Concession $/%: $
Seller Concession $/%: $
Property Features
Building Type: Commercial; Industrial
Current Use: Mixed Use; Service Business; Retail PAD; Automobile; Restaurant; Office; Retail; Food Service; Other; See Remarks
Stories: 1 Story
Construction: Block
Roofing: Built-Up; Foam; Rolled; Metal
Floors: Concrete; Ceramic Tile
Ceiling Height: 8.1 Feet to 10 Feet
Cooling: Central A/C; Warehouse Evap
Loading Facilities: None
Interior: Finished
Exterior: Corner Lot; Dual Street Ftg; Storage Yard; Building Sign; Monument Sign
Fencing: None; Other; See Remarks
Parking: Free; Public Parking; Paved Parking
Electric: APS
Gas: None
Water: City Franchise
Sewer: Sewer - Public
Freeway/Highway: 2.1 - 5 Miles
Railroad: RlRd up to 1 Mile
Showing Notification Methods: Text
Source of Fincl Data: Provided by Owner; Projected Proforma
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; Curb(s) & Gutter(s); Sidewalk(s)
Traffic Count: 15,001 to 25,000
Reports/Disclosures: Seller Prop Disc Stm
Use Restrictions: CC&R's; Currently Leased
Environmental: None

Listing Office: Paramount Management & Realty, LLC

Last Updated: June - 21 - 2021

5402 W GLENDALE Avenue, Glendale, AZ 85301 - MLS# 6103079
The listing broker's offer of compensation is made only to participants of the MLS where the listing is filed.

Copyright 2024 Arizona Regional Multiple Listing Service, Inc. All rights reserved. Information Not Guaranteed and Must Be Confirmed by End User. Site contains live data.