$4,300,000
Tempe, AZ 85284
MLS# 6115796
Status: Closed
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Property Description
• Two (2) freestanding, single-story, Class A multi-tenant office buildings • 850 W Elliot (east building): +/- 16,000 SF - Four (4) Office Suites • 858 W Elliot (west building): +/- 8,960 SF - Three (3) Office Suites • Suite 102 (+/- 6,500 SF) available for owner-user to occupy or Seller will sign a 1-year lease at $23.00/PSF Modified Gross at COE • Ample surface & covered parking available • Central Tempe location with convenient access to the I-10, 101, and 202 Freeways
Details
Maps
Contract Info
Current Price: $4,300,000
Sold Price: $4,300,000
Status: Closed
List Date: 2020-08-11
Ownership: Other (See Remarks)
Buyer/Broker: Y
Buyer Broker $/%: %
Location, Tax & Legal
Map Code/Grid: S36
House Number: 850 & 858
Compass: W
Street Name: ELLIOT
St Suffix: Road
City/Town Code: Tempe
State/Province: AZ
Zip Code: 85284
Zip4: 1206
Country: USA
County Code: Maricopa
Legal Description (Abbrev): LOT 1 ROOSEVELT COMMERCE PARK MCR 049913
Subdivision: ROOSEVELT COMMERCE PARK
Assessor's Map #: 90
Assessor's Parcel #: 21
Add'l Parcels: No
Assessor Number: 301-90-021
Census Tract: 320001
Legal: LOT 1 ROOSEVELT COMMERCE PARK MCR 049913
Tax Municipality: Tempe
Taxes: 65555
Tax Year: 2020
General Property Description
Ttl Apx SqFt Bldg: 24960
# of Buildings: 2
Year Built: 2001
Uncvrd Parking Spcs: 48
Zoning: GID
Remarks & Misc
Cross Street: W Elliot Rd & S Hardy Dr
Geo Lat: 33.349662
Geo Lon: -111.952125
Status Change Info
Status Change Date: 2021-05-29
Off Market Date: 2021-05-26
Under Contract Date: 2021-03-22
Close of Escrow Date: 2021-05-28
Sold Price: $4,300,000
Legal Info
Township: 1S
Range: 4E
Section: 9
Lot Number: 1
Income & Expenses
Annual Elec Exp: 40595
Annual Ins Exp: 4952
Annual Landscape Exp: 20258
Annual Maint Exp: 15440
Annual Mgmt Exp: 14000
Annual Trash Exp: 1190
Annual Wtr/Swr Exp: 6109
Owner Association: No
Annual Other Expense: 25916
Operating Exp: 194015
Gross Annual Sch Inc: 521987
Vacancy Allowance: 0.05
Adjusted Gross Inc: 495887.65
Net Operating Income: 327969
Pmt & Rate Info
Cap Rate: 6.88
Equity: 4766000
Sold Info
Loan Type: Cash
Payment Type: Other
Clsing Cost Split: Normal - N
Buyer Concession $/%: $
Seller Concession $/%: $
Property Features
Building Type: Office
Current Use: Office
Stories: 1 Story
Construction: Block
Roofing: Other (See Remarks)
Floors: Ceramic Tile; Carpet
Ceiling Height: 10.1 Feet to 12 Feet
Cooling: Central A/C
Loading Facilities: None
Interior: Finished
Fencing: None
Parking: Paved Parking
Electric: Other (See Remarks)
Gas: None
Water: City Franchise
Sewer: Sewer - Public
Showing Notification Methods: Text; Email; Phone Call
Lockbox Type: None
Source of Fincl Data: Other (See Remarks)
Reports/Disclosures: Other (See Remarks)
Environmental: Other (See Remarks)
Listing Office: The Menlo Group Commercial Real Estate
Last Updated: May - 29 - 2021
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