$875,000
Phoenix, AZ 85040
MLS# 6704572
1 / 15
Property Description
Prime Commercial Opportunity in High-Traffic Area. Former restaurant in bustling high-traffic zone, C3 zoning, 1814 SF. Recently updated and remodeled building. Currently leased to auto repair shop until Dec 2025 for $4,600/month. Features 3 bays outside with 2 lifts. Versatile space, ample parking, ideal for entrepreneurs or investors seeking stable income and potential. Contact for viewing.
Details
Maps
Contract Info
Current Price: $875,000
List Price: $875,000
Status: Active
List Date: 2024-05-12
Ownership: Fee Simple
Subagents: N
Buyer/Broker: Y
Buyer Broker $/%: %
Location, Tax & Legal
House Number: 507
Compass: E
Street Name: BROADWAY
St Suffix: Road
City/Town Code: Phoenix
State/Province: AZ
Zip Code: 85040
Zip4: 2116
Country: USA
County Code: Maricopa
Legal Description (Abbrev): LOCH PLACE ANNEX E2 LOT 81 EX N 7' & ALSO E2 LOT 82
Subdivision: LOCH PLACE ANNEX
Assessor's Map #: 37
Assessor's Parcel #: 83
Assessor Parcel Ltr: A
Add'l Parcels: No
Assessor Number: 113-37-083-A
Legal: LOCH PLACE ANNEX E2 LOT 81 EX N 7' & ALSO E2 LOT 82
Tax Municipality: Phoenix
Taxes: 8670
Tax Year: 2023
General Property Description
Ttl Apx SqFt Bldg: 1815
# of Buildings: 1
Year Built: 2000
Uncvrd Parking Spcs: 20
Zoning: C3
Remarks & Misc
Cross Street: Broadway & 7th Street
Directions: West on Broadway to the property
Geo Lat: 33.406387
Geo Lon: -112.066941
Status Change Info
Status Change Date: 2024-05-12
Legal Info
Township: 1N
Range: 3E
Section: 29
Lot Number: 81
Income & Expenses
Owner Association: No
Other Income: 55200
Adjusted Gross Inc: 55200
Net Operating Income: 54600
Pmt & Rate Info
Cap Rate: 6.24
Equity: 875000
Showing Notification Methods
Showing Service: Aligned Showings
Property Features
Building Type: Commercial
Current Use: Service Business; Automobile
Stories: 1 Story
Construction: Block; Frame - Wood
Roofing: Comp Shingle
Floors: Concrete
Ceiling Height: 10.1 Feet to 12 Feet
Cooling: Central A/C
Loading Facilities: Grade Level
Interior: Finished; Other (See Remarks)
Fencing: None
Parking: Paved Parking
Electric: SRP
Gas: None
Water: City Franchise
Sewer: Sewer - Public
New Financing: Cash Only
Lockbox Type: Other
Source of Fincl Data: Other (See Remarks)
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
Reports/Disclosures: None
Environmental: None
Listing Office: Realty ONE Group
Last Updated: May - 13 - 2024
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Broker Attribution:
480-980-2244