$1,200,000
Mesa, AZ 85207
MLS# 5931885
Status: Closed
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Property Description
INVESTMENT PROPERTY – CAP 7.00 % - RETAIL - OFFICE STRIP CENTER Retail Strip center with very low rents in one of the fastest growing areas in the US. Close to the Mesa Gateway Airport, the East Valley is comprised of cities such as Tempe, Mesa, Chandler, Apache Junction, Gilbert and the Town of Queen Creek. It is a national initiative to advance business and quality of life in this region, including expansion of high-tech job growth. The East Valley has become an ideal location for those seeking an environment that is well-suited for innovative entrepreneurs as well as prospering businesses looking to expand and/or relocate. This area is a hotbed for innovation and near the expansion of the 275-square-mile Superstition Vista project that is master-planned for 800,000 people as well as
Details
Maps
Contract Info
Current Price: $1,200,000
Sold Price: $1,200,000
Status: Closed
List Date: 2019-05-28
Ownership: Fee Simple
Buyer/Broker: Y
Buyer Broker $/%: %
Location, Tax & Legal
Map Code/Grid: R42
House Number: 7303
Compass: E
Street Name: Main
St Suffix: Street
City/Town Code: Mesa
State/Province: AZ
Zip Code: 85207
Country: USA
County Code: Maricopa
Assessor's Map #: 18
Assessor's Parcel #: 1
Assessor Parcel Ltr: Q
Add'l Parcels: No
Assessor Number: 218-18-001-Q
Legal: See title
Tax Municipality: Maricopa - COUNTY
General Property Description
Ttl Apx SqFt Bldg: 17980
# of Buildings: 1
Year Built: 1989
Uncvrd Parking Spcs: 30
Zoning: C2
Remarks & Misc
Cross Street: Main St & 74th St
Geo Lat: 33.414722
Geo Lon: -111.673511
Status Change Info
Status Change Date: 2020-04-14
Off Market Date: 2020-04-14
Under Contract Date: 2019-11-12
Close of Escrow Date: 2020-01-15
Sold Price: $1,200,000
Legal Info
Lot Number: -
Income & Expenses
Owner Association: No
Annual Other Expense: 74817
Operating Exp: 74817
Gross Annual Sch Inc: 178204
Adjusted Gross Inc: 178204
Net Operating Income: 103387
Pmt & Rate Info
Cap Rate: 6.89
Equity: 1500000
Sold Info
Loan Type: Cash
Payment Type: Other
Clsing Cost Split: Normal - N
Buyer Concession $/%: $
Seller Concession $/%: $
Property Features
Building Type: Commercial
Current Use: Retail
Stories: 1 Story
Construction: Block
Roofing: Built-Up
Floors: Concrete
Ceiling Height: 10.1 Feet to 12 Feet
Heating: Heat Pump
Cooling: Central A/C
Loading Facilities: Other (See Remarks)
Interior: Other (See Remarks)
Exterior: Other (See Remarks)
Fencing: None
Parking: Public Parking
Electric: City Electric
Gas: Other (See Remarks)
Water: Other; See Remarks
Sewer: Sewer - Public
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
Reports/Disclosures: None
Environmental: None
Listing Office: Kasten Long Commercial Group
Last Updated: April - 14 - 2020
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