$615,000
5608 N 27TH Avenue
Phoenix, AZ 85017
MLS# 5901910
Status: Closed



5608 N 27TH Avenue, Phoenix, AZ 85017
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5608 N 27TH Avenue, Phoenix, AZ 85017 5608 N 27TH Avenue, Phoenix, AZ 85017 5608 N 27TH Avenue, Phoenix, AZ 85017 5608 N 27TH Avenue, Phoenix, AZ 85017 5608 N 27TH Avenue, Phoenix, AZ 85017 5608 N 27TH Avenue, Phoenix, AZ 85017 5608 N 27TH Avenue, Phoenix, AZ 85017 5608 N 27TH Avenue, Phoenix, AZ 85017 5608 N 27TH Avenue, Phoenix, AZ 85017 5608 N 27TH Avenue, Phoenix, AZ 85017 5608 N 27TH Avenue, Phoenix, AZ 85017 5608 N 27TH Avenue, Phoenix, AZ 85017 5608 N 27TH Avenue, Phoenix, AZ 85017 5608 N 27TH Avenue, Phoenix, AZ 85017 5608 N 27TH Avenue, Phoenix, AZ 85017 5608 N 27TH Avenue, Phoenix, AZ 85017 5608 N 27TH Avenue, Phoenix, AZ 85017 5608 N 27TH Avenue, Phoenix, AZ 85017 5608 N 27TH Avenue, Phoenix, AZ 85017 5608 N 27TH Avenue, Phoenix, AZ 85017 5608 N 27TH Avenue, Phoenix, AZ 85017 5608 N 27TH Avenue, Phoenix, AZ 85017 5608 N 27TH Avenue, Phoenix, AZ 85017 5608 N 27TH Avenue, Phoenix, AZ 85017 5608 N 27TH Avenue, Phoenix, AZ 85017 5608 N 27TH Avenue, Phoenix, AZ 85017 5608 N 27TH Avenue, Phoenix, AZ 85017 5608 N 27TH Avenue, Phoenix, AZ 85017 5608 N 27TH Avenue, Phoenix, AZ 85017 5608 N 27TH Avenue, Phoenix, AZ 85017 5608 N 27TH Avenue, Phoenix, AZ 85017 5608 N 27TH Avenue, Phoenix, AZ 85017 5608 N 27TH Avenue, Phoenix, AZ 85017 5608 N 27TH Avenue, Phoenix, AZ 85017 5608 N 27TH Avenue, Phoenix, AZ 85017 5608 N 27TH Avenue, Phoenix, AZ 85017

Property Description
8100 SF Retail Building on 19,000SF lot with 30 parking spaces right in the Grand Canyon University growth vicinity. Just 1 block North of Missouri on 27th Ave this property is available for purchase and/or lease. Currently approximately 4000SF is vacant and build-out as a large private-event space with a small riser, ADD bathroom, full men's and women's restrooms, basic kitchen with serving counter, and contiguous open spaces. Additionally, the other 4000SF is occupied by a long-term tenant on a month to month basis (Church). The current owner ran a party venue company out of the vacant space and averaged $900-$1400/day for the space. There is a demand for events space in this area and likely highest and best use. Owner pays taxes, insurance, water/sewer/trash and OEs.

Details
Maps
Contract Info
Current Price: $615,000
Sold Price: $615,000
Status: Closed
List Date: 2019-03-27
Ownership: Fee Simple
Buyer/Broker: Y
Buyer Broker $/%: %
Location, Tax & Legal
Map Code/Grid: N33
House Number: 5608
Compass: N
Street Name: 27TH
St Suffix: Avenue
City/Town Code: Phoenix
State/Province: AZ
Zip Code: 85017
Zip4: 2603
Country: USA
County Code: Maricopa
Legal Description (Abbrev): LOT 463 MARYVALE PARK 2 AMD LOTS 243-415, & TR C MCR 005623
Subdivision: MARYVALE PARK 2 AMD LOTS 243-415, & TR C
Assessor's Map #: 13
Assessor's Parcel #: 168
Assessor Parcel Ltr: B
Add'l Parcels: No
Assessor Number: 153-13-168-B
Census Tract: 107202
Legal: LOT 463 MARYVALE PARK 2 AMD LOTS 243-415, & TR C MCR 005623
Tax Municipality: Phoenix
Taxes: 19430
Tax Year: 2018
General Property Description
Type of Property: Commercial Retail Strip
Ttl Apx SqFt Bldg: 8161
Ttl Apx Net Rnt Spc: 4000
# of Buildings: 1
Lot Size Dimensions: 203'x104'
Year Built: 1982
Volts/Amps: 480
Uncvrd Parking Spcs: 30
Zoning: C-C, C-2
Remarks & Misc
Cross Street: 27th Ave and Camelback
Directions: North just past Missouri. Property is on the West side of the Road. Look for ''TaB Group'' sign.
Geo Lat: 33.518819
Geo Lon: -112.117375
Status Change Info
Status Change Date: 2019-12-13
Off Market Date: 2019-11-12
Under Contract Date: 2019-11-08
Close of Escrow Date: 2019-12-13
Sold Price: $615,000
Legal Info
Township: 2N
Range: 2E
Section: 14
Lot Number: 463
Bay Info
# of Bay Doors: 1
Bay Door Height: 9
Bay Door Width: 8
Income & Expenses
Annual Ins Exp: 1500
Annual Landscape Exp: 300
Annual Wtr/Swr Exp: 1200
Owner Association: No
Operating Exp: 22430
Gross Annual Sch Inc: 81600
Vacancy Allowance: 0.05
Adjusted Gross Inc: 77520
Net Operating Income: 55090
Pmt & Rate Info
Cap Rate: 7.35
Equity: 750000
Contact Info
List Agent Home Phn: 602-478-6117
Sold Info
Loan Type: Cash
Payment Type: Fixed
Clsing Cost Split: Normal - N
Buyer Concession $/%: $
Seller Concession $/%: $
Property Features
Building Type: Commercial; Other (See Remarks)
Current Use: Religious Facility; Recreational; Retail; Other; See Remarks
Stories: 1 Story
Construction: Stucco; Frame - Wood
Roofing: Built-Up
Floors: Concrete; Ceramic Tile
Ceiling Height: 8.1 Feet to 10 Feet
Cooling: Central A/C
Loading Facilities: Drive-in Door(s)
Interior: Finished; Private Restrooms
Exterior: Dual Street Ftg; Building Sign; Monument Sign
Fencing: None
Amenities: Showroom; Kitchen; Raised Floor
Parking: Free; Paved Parking
Electric: SRP; Individual Meter; Over 220 Amp
Gas: None
Water: City Franchise; Master Meter
Sewer: Sewer - Public
Freeway/Highway: Frontage
Source of Fincl Data: Provided by Owner; Projected Proforma
Existing 1st Loan: Other (See Rmks)
Existing 1st Ln Type: Fixed
Existing 1st Ln Trms: Non Assumable; Not Applicable
Existing 2nd Loan: Other (See Remarks)
Existing 2nd Ln Type: Not Applicable
Existing 2nd Ln Trms: Not Applicable
Existing 3rd Loan: Other (See Remarks)
Existing 3rd Ln Type: Not Applicable
Existing 3rd Ln Trms: Not Applicable
Existing Othr Ln Trm: Not Applicable
Roads/Streets: Asphalt
Traffic Count: 5,001 to 15,000
Reports/Disclosures: None
Environmental: None

Listing Office: AXIS Property Advisors

Last Updated: January - 13 - 2020

5608 N 27TH Avenue, Phoenix, AZ 85017 - MLS# 5901910
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