$443,310
Phoenix, AZ 85020
MLS# 6396337
Status: Closed
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Property Description
Private EXECUTIVE OFFICE CONDO in the Piestewa Peak corridor just off SR-51! Spacious and unique two-story office condo with amenities including two reserved covered parking spaces, 2 bathrooms, and lobby areas. Many windows make this a bright refreshing space. Prime lower-level office with a fireplace, wet bar and French doors to a patio. The space is a co-working space with 9 tenants and is fully leased. Possible Owner User - Great Professional Office Complex. Improvements in 2022 include a new roof with a 10-year warranty, a new HVAC system and bathroom on 2nd level. New light fixtures, doors, locks, plumbing, insulation, painting, and electrical. The Copper Terrace complex is comprised of professionals - lawyers, financial planners, accountants and small businesses. Available Now!
Details
Maps
Contract Info
Current Price: $443,310
Sold Price: $443,310
Status: Closed
List Date: 2022-05-09
Ownership: Fee Simple
Buyer/Broker: Y
Buyer Broker $/%: %
Location, Tax & Legal
Map Code/Grid: N34
House Number: 7220
Compass: N
Street Name: 16TH
St Suffix: Street
Unit #: B
City/Town Code: Phoenix
State/Province: AZ
Zip Code: 85020
Zip4: 5253
Country: USA
County Code: Maricopa
Building Number: 2
Legal Description (Abbrev): LOT 2 COPPER TERRACE MCR 024540
Subdivision: COPPER TERRACE
Assessor's Map #: 25
Assessor's Parcel #: 188
Assessor Parcel Ltr: A
Add'l Parcels: No
Assessor Number: 160-25-188-A
Census Tract: 106300
Legal: LOT 2 COPPER TERRACE MCR 024540
Tax Municipality: Phoenix
Taxes: 6056
Tax Year: 2021
Marketing Name: Copper Terrace
General Property Description
Type of Property: Commercial
Ttl Apx SqFt Bldg: 2111
# of Buildings: 1
Year Built: 1982
Uncvrd Parking Spcs: 28
Zoning: C-O
Remarks & Misc
Cross Street: N 16th St & E Glendale Ave
Directions: Exit SR-51 @ Glendale Ave/Lincoln Blvd and go west. Turn right onto 16th St. In a 1/4-mile, turn left into parking lot.
Geo Lat: 33.542637
Geo Lon: -112.047873
Status Change Info
Status Change Date: 2022-10-01
Off Market Date: 2022-10-01
Under Contract Date: 2022-08-10
Close of Escrow Date: 2022-09-30
Sold Price: $443,310
Legal Info
Township: 2N
Range: 3E
Section: 4
Lot Number: 2
Income & Expenses
Owner Association: Yes
Annual Ownr Asoc Fee: 4824
Operating Exp: 10880
Gross Annual Sch Inc: 33660
Vacancy Allowance: 0.05
Adjusted Gross Inc: 31977
Net Operating Income: 15660
Pmt & Rate Info
Cap Rate: 3.53
Equity: 443310
Sold Info
Loan Type: SBA
Loan Years: 20
Payment Type: Fixed
Clsing Cost Split: Normal - N
Buyer Concession $/%: $
Seller Concession $/%: $
Property Features
Building Type: Commercial; Office
Current Use: Service Business; Office; Wholesale
Stories: 2 Stories
Construction: Stucco; Frame - Wood
Roofing: Built-Up; Other (See Remarks)
Floors: Ceramic Tile; Carpet
Ceiling Height: 8.1 Feet to 10 Feet
Cooling: Central A/C
Loading Facilities: None
Interior: Finished; Smoke Detector(s); Private Restrooms
Exterior: Sprinkler Sys-Ground; Building Sign
Fencing: Block; Security
Amenities: Conference Room; Reception Room
Parking: Fenced; Free; Parking Structure; Public Parking; Private Parking; Paved Parking
Electric: APS
Gas: None
Water: City Franchise
Sewer: Sewer - Public
Freeway/Highway: Up to 1 Mile
Lockbox Type: Supra (ARMLS)
Special: Owner/Agent
Source of Fincl Data: Provided by Owner; Projected Proforma
Existing 1st Loan: Treat as Free&Clear
Existing 1st Ln Trms: Not Applicable
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
Roads/Streets: Asphalt; Dedicated Street; Private Street; Curb(s) & Gutter(s); Sidewalk(s)
Reports/Disclosures: None
Use Restrictions: CC&R's
Environmental: None
Listing Office: Arizona Innovative Real Estate LLC
Last Updated: October - 01 - 2022
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