$4,500,000
Phoenix, AZ 85022
MLS# 5861701
Status: Closed
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Property Description
C2 Fantastic Opportunity to own a 47,000sf+ property on nearly 3 acres! Only $116/sf and 92% occupied (occupancy increasing)! Occupied spaces have been nicely updated/remodeled! Suites features area with 18 executive offices as well as 19 salon suites area - higher return/sf $15.39 now! Property has undergone vast improvements and continues to do so; improvements already completed are roof, parking, LED lighting, programmable thermostats, new kitchens and more! Exterior paint in progress, new cooling tower (all stainless steel) has been ordered and installed this winter. Property is 3 stories and features gorgeous mountain views! Center atrium features large fountain/pond with a variety of koi fish. Conveniently located near 51 and 101 freeways! 10 Min to PV, Scottsdale, Desert Ridg
Details
Contract Info
Ownership: Fee Simple
Current Price: $4,500,000
Sold Price: $4,500,000
Status: Closed
List Date: 2019-01-01
Location, Tax & Legal
Assessor's Map #: 51
Legal Description (Abbrev): COM S4 COR SEC TH E 1098.20F TH N 15D 24M E 1068.38F TH N 74D 35M W 55F TPOB TH N 15D 24M E 458.
Assessor's Parcel #: 4
Assessor Parcel Ltr: E
Add'l Parcels: Yes
Tax Municipality: Phoenix
Census Tract: 103607
Taxes: 55395
Legal: COM S4 COR SEC TH E 1098.20F TH N 15D 24M E 1068.38F TH N 74D 35M W 55F TPOB TH N 15D 24M E 458.
Map Code/Grid: L35
House Number: 14040
Compass: N
Street Name: CAVE CREEK
St Suffix: Road
City/Town Code: Phoenix
State/Province: AZ
Zip Code: 85022
County Code: Maricopa
Assessor Number: 214-51-004-E
Tax Year: 2019
General Property Description
Ttl Apx SqFt Bldg: 47397
# of Buildings: 1
Uncvrd Parking Spcs: 129
Year Built: 1986
Zoning: C2
Legal Info
Range: 3E
Section: 10
Township: 3N
Construction
Block: 1
Metal: 1
Other: 1
Roofing
Foam: 1
Rolled: 1
Floors
Vinyl: 1
Wood: 1
Ceramic Tile: 1
Carpet: 1
Other: 1
Income & Expenses
Annual Elec Exp: 0
Annual Gas Exp: 0
Annual Ins Exp: 0
Annual Land Lse Exp: 0
Annual Landscape Exp: 0
Annual Legal & Acctg: 0
Annual Maint Exp: 0
Annual Mgmt Exp: 0
Annual Trash Exp: 0
Annual Wtr/Swr Exp: 0
Owner Association: No
Annual Ownr Asoc Fee: 0
Annual PAD Fee: 0
Annual Rplcmnt Rsrvs: 0
Annual Other Expense: 0
Operating Exp: 55395
Other Income: 0
Vacancy Allowance: 0
Adjusted Gross Inc: 0
Building Type
Commercial: 1
Office: 1
Other (See Remarks): 1
Business Type
Dental: 1
Mixed: 1
Medical: 1
Professional/Office: 1
Other: 1
See Remarks: 1
Stories
3 - 4 Stories: 1
Pmt & Rate Info
Cap Rate: 8.57
Down Payment: 0
Equity: 5495000
Total Owed: 0
Assessment Balance: 0
Lockbox Type
None: 1
Ceiling Height
8 Feet or Less: 1
8.1 Feet to 10 Feet: 1
Heating
Heat Pump: 1
Electric: 1
Other: 1
See Remarks: 1
Cooling
Office A/C: 1
Chiller System: 1
Other: 1
See Remarks: 1
Interior Features
Finished: 1
Finished to Suit: 1
Phone System: 1
Private Restrooms: 1
Public Restrooms: 1
Loading Facilities
None: 1
Road Surface Type
Asphalt: 1
Source of Fincl Data
Projected Proforma: 1
Traffic Count
15,001 to 25,000: 1
Fencing
None: 1
Water Source
City Franchise: 1
Sewer
Sewer - Public: 1
Parking Features
Free: 1
Parking Lot: 1
Paved: 1
Electric
APS: 1
Gas
SW Gas: 1
New Financing
Cash Only: 1
1031 Exchange: 1
Trade: 1
Lease Option: 1
Lease: 1
Special
Owner/Agent: 1
Existing 1st Loan
Treat as Free&Clear: 1
Existing 1st Loan Type
Fixed: 1
Existing 1st Loan Terms
Not Applicable: 1
Existing 2nd Loan
Treat as Free&Clear: 1
Existing 2nd Loan Type
Not Applicable: 1
Existing 2nd Loan Terms
Not Applicable: 1
Existing 3rd Loan
Treat as Free&Clear: 1
Existing 3rd Loan Type
Not Applicable: 1
Reports/Disclosures
None: 1
Existing 3rd Loan Terms
Not Applicable: 1
Environmental
None: 1
Existing Othr Ln Trm
Not Applicable: 1
Contact Info
List Agent Home Phn: 480-255-7327
Sold Info
Loan Type: Conventional
Loan Years: 30
Payment Type: Fixed
Clsing Cost Split: Normal - N
Buyer Concession to Seller: 0
Buyer Concession $/%: $
Seller Concession to Buyer: 0
Seller Concession $/%: $
Remarks Misc
Cross Street: Cave Creek Road and Cactus
Directions: North of Cactus and Cave Creek Road, on West Side of Road
Geo Lat: 33.615049
Geo Lon: -112.034888
Status Change Info
Off Market Date: 2020-03-06
Under Contract Date: 2019-11-27
Close of Escrow Date: 2020-03-15
Sold Price: $4,500,000
Income Expenses
Net Operating Income: 471000
Property Features
Building Type: Commercial; Office; Other (See Remarks)
Business Type: Dental; Mixed; Medical; Professional/Office; Other; See Remarks
Stories: 3 - 4 Stories
Construction: Block; Metal; Other
Roofing: Foam; Rolled
Floors: Vinyl; Wood; Ceramic Tile; Carpet; Other
Ceiling Height: 8 Feet or Less; 8.1 Feet to 10 Feet
Heating: Heat Pump; Other; See Remarks
Cooling: Office A/C; Chiller System; Other; See Remarks
Loading Facilities: None
Interior Features: Finished; Finished to Suit; Phone System; Private Restrooms; Public Restrooms
Fencing: None
Parking Features: Free; Parking Lot; Paved
Electric: APS
Gas: SW Gas
Water Source: City Franchise
Sewer: Sewer - Public
New Financing: Cash Only; 1031 Exchange; Trade; Lease Option; Lease
Lockbox Type: None
Special: Owner/Agent
Source of Fincl Data: Projected Proforma
Existing 1st Loan: Treat as Free&Clear
Existing 1st Loan Type: Fixed
Existing 1st Loan Terms: Not Applicable
Existing 2nd Loan: Treat as Free&Clear
Existing 2nd Loan Type: Not Applicable
Existing 2nd Loan Terms: Not Applicable
Existing 3rd Loan: Treat as Free&Clear
Existing 3rd Loan Type: Not Applicable
Existing 3rd Loan Terms: Not Applicable
Existing Othr Ln Trm: Not Applicable
Road Surface Type: Asphalt
Traffic Count: 15,001 to 25,000
Environmental: None
Listing Office: Prestige Realty
Last Updated: January - 21 - 2025
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