$4,618,660
Surprise, AZ 85374
MLS# 5930243
Status: Closed
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Property Description
Town Square at Surprise is an Ideal, 100% leased investment opportunity. It boasts a strong tenant line up cosisting of over 70% of national tenants. Located next to prominent retailers and restaurants such as In n Out, Starbucks, Panera, Red Robin, Comerica Bank, Dignity Health, and Kohl's department store to name a few. Please download the OM for full property information and drone video.
Details
Contract Info
Ownership: Fee Simple
Current Price: $4,618,660
Sold Price: $4,618,660
Status: Closed
List Date: 2019-05-23
Location, Tax & Legal
Assessor's Map #: 18
Legal Description (Abbrev): LOT 2 CITY AT SURPRISE PHASE 2 MCR 116023
Assessor's Parcel #: 539
Add'l Parcels: No
Tax Municipality: Surprise
Census Tract: 61028
Taxes: 42730
Legal: LOT 2 CITY AT SURPRISE PHASE 2 MCR 116023
Marketing Name: Town Square at Surprise
Map Code/Grid: L28
House Number: 14155
Compass: W
Street Name: BELL
St Suffix: Road
City/Town Code: Surprise
State/Province: AZ
Zip Code: 85374
Zip4: 4186
County Code: Maricopa
Subdivision: CITY AT SURPRISE PHASE 2
Assessor Number: 501-18-539
Tax Year: 2018
General Property Description
Type of Property: Retail Investment
Ttl Apx SqFt Bldg: 12948
# of Buildings: 1
Uncvrd Parking Spcs: 134
Year Built: 2008
Zoning: PAD
Legal Info
Range: 1W
Section: 4
Township: 3N
Lot Number: 2
Construction
Block: 1
Roofing
Built-Up: 1
Foam: 1
Floors
Concrete: 1
Sealed: 1
Ceramic Tile: 1
Carpet: 1
Income & Expenses
Annual Elec Exp: 18791
Annual Gas Exp: 0
Annual Ins Exp: 3575
Annual Land Lse Exp: 0
Annual Landscape Exp: 11700
Annual Legal & Acctg: 0
Annual Maint Exp: 20300
Annual Mgmt Exp: 8400
Annual Trash Exp: 5200
Annual Wtr/Swr Exp: 0
Owner Association: Yes
Annual Ownr Asoc Fee: 10880
Annual PAD Fee: 0
Annual Rplcmnt Rsrvs: 0
Annual Other Expense: 2000
Other Income: 0
Vacancy Allowance: 0
Adjusted Gross Inc: 450730
Building Type
Commercial: 1
Business Type
Retail: 1
Stories
1 Story: 1
Pmt & Rate Info
Cap Rate: 6.62
Down Payment: 4900000
Equity: 4900000
Total Owed: 0
Assessment Balance: 0
Ceiling Height
16.1 Feet to 28 Feet: 1
Heating
Electric: 1
Natural Gas: 1
Cooling
Central Air: 1
Interior Features
Finished: 1
Fire Sprinklers: 1
Smoke Detector(s): 1
Security System: 1
Security Light(s): 1
Alarm System: 1
Phone System: 1
Private Restrooms: 1
Public Restrooms: 1
Loading Facilities
None: 1
Road Surface Type
Asphalt: 1
Exterior
Sprinkler System-Ground: 1
Landscaping: 1
Curb(s) & Gutter(s): 1
Building Sign: 1
Sidewalk(s): 1
Security Light(s): 1
Source of Fincl Data
Owner: 1
Traffic Count
35,001 to 50,000: 1
Fencing
Block: 1
Partial: 1
Water Source
City Franchise: 1
Freeway/Highway
2.1 - 5 Miles: 1
Sewer
Sewer - Public: 1
Parking Features
Free: 1
Parking Lot: 1
Private: 1
Paved: 1
Electric
APS: 1
Submetered System: 1
Gas
SW Gas: 1
City Gas: 1
New Financing
Cash Only: 1
Cash to Loan: 1
1031 Exchange: 1
Existing 1st Loan
Other (See Rmks): 1
Existing 1st Loan Type
Fixed: 1
Existing 1st Loan Terms
Assume-Qualify: 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
Use Restrictions
CC&R's: 1
Airport Flight Zone: 1
Existing 3rd Loan Type
Not Applicable: 1
Reports/Disclosures
ALTA Survey Availbl: 1
Existing 3rd Loan Terms
Not Applicable: 1
Environmental
Phase I Available: 1
Existing Othr Ln Trm
Not Applicable: 1
Sold Info
Loan Type: Conventional
Loan Years: 25
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: Bell Rd./Litchfield
Directions: Fronts Bell Road just West of Litchfield.
Geo Lat: 33.637933
Geo Lon: -112.364946
Status Change Info
Off Market Date: 2019-08-01
Under Contract Date: 2019-08-01
Close of Escrow Date: 2019-10-01
Sold Price: $4,618,660
Income Expenses
Gross Annual Sch Inc: 450730
Net Operating Income: 324354
Property Features
Building Type: Commercial
Business Type: Retail
Stories: 1 Story
Construction: Block
Roofing: Built-Up; Foam
Floors: Concrete; Sealed; Ceramic Tile; Carpet
Ceiling Height: 16.1 Feet to 28 Feet
Heating: Natural Gas
Cooling: Central Air
Loading Facilities: None
Interior Features: Finished; Fire Sprinklers; Smoke Detector(s); Security System; Security Light(s); Alarm System; Phone System; Private Restrooms; Public Restrooms
Exterior: Sprinkler System-Ground; Landscaping; Curb(s) & Gutter(s); Building Sign; Sidewalk(s); Security Light(s)
Fencing: Block; Partial
Parking Features: Free; Parking Lot; Private; Paved
Electric: APS; Submetered System
Gas: SW Gas; City Gas
Water Source: City Franchise
Sewer: Sewer - Public
New Financing: Cash Only; Cash to Loan; 1031 Exchange
Source of Fincl Data: Owner
Existing 1st Loan: Other (See Rmks)
Existing 1st Loan Type: Fixed
Existing 1st Loan Terms: Assume-Qualify
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: 35,001 to 50,000
Use Restrictions: CC&R's; Airport Flight Zone
Environmental: Phase I Available
Listing Office: Cardon Commercial
Last Updated: January - 29 - 2025
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