$1,200
Scottsdale, AZ 85251
MLS# 4525063
Status: Closed
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Property Description
Mixed use building in a popular downtown Scottsdale location, adjacent to the Scottsdale Center for the Performing Arts. 100% occupied with 89% of the leased space to tenants for over 10 years. 84% of leased space has more than 3 years left on the leases. Owner completed over $570,000 in improvements in the last couple years. Free parking in adjacent city parking garage and city parking lot.
Details
Contract Info
Ownership: Fee Simple
Current Price: $1,200
Sold Price: $1,200
Status: Closed
List Date: 2011-01-21
Location, Tax & Legal
Assessor's Map #: 23
Legal Description (Abbrev): SCOTTSDALE MALL
Assessor's Parcel #: 211
Assessor Parcel Ltr: A
Add'l Parcels: No
Tax Municipality: Maricopa - COUNTY
Census Tract: 217201
Taxes: 36003
Legal: SCOTTSDALE MALL MCR 170-2 LOT F N2
Map Code/Grid: P37
House Number: 7373
Compass: E
Street Name: SCOTTSDALE
St Suffix: Mall
City/Town Code: Scottsdale
State/Province: AZ
Zip Code: 85251
Zip4: 4425
County Code: Maricopa
Subdivision: Scottsdale Mall
Assessor Number: 130-23-211-A
Tax Year: 2010
General Property Description
Type of Property: Mixed Use Commercial
Ttl Apx SqFt Bldg: 23210
Ttl Apx Net Rnt Spc: 21512
# of Buildings: 1
Uncvrd Parking Spcs: 0
Year Built: 1976
Zoning: C-2
Legal Info
Range: 4E
Section: 26
Township: 2N
Lot Number: F
Construction
Stucco: 1
Roofing
Other: 1
Floors
Concrete: 1
Income & Expenses
Annual Elec Exp: 84450
Annual Gas Exp: 22117
Annual Ins Exp: 3751
Annual Land Lse Exp: 0
Annual Landscape Exp: 600
Annual Legal & Acctg: 400
Annual Maint Exp: 48450
Annual Mgmt Exp: 14420
Annual Trash Exp: 7320
Annual Wtr/Swr Exp: 17810
Owner Association: No
Annual Ownr Asoc Fee: 0
Annual PAD Fee: 0
Annual Rplcmnt Rsrvs: 0
Annual Other Expense: 0
Operating Exp: 235321
Other Income: 0
Vacancy Allowance: 0
Adjusted Gross Inc: 496891
Building Type
Commercial: 1
Office: 1
Business Type
Mixed: 1
Restaurant: 1
Professional/Office: 1
Retail: 1
Bar/Tavern/Lounge: 1
Stories
2 Stories: 1
Pmt & Rate Info
Cap Rate: 5.97
Down Payment: 0
Equity: 4400000
Total Owed: 0
Assessment Balance: 0
Ceiling Height
8.1 Feet to 10 Feet: 1
10.1 Feet to 12 Feet: 1
Heating
Electric: 1
Natural Gas: 1
Cooling
Central Air: 1
Chiller System: 1
Interior Features
Finished: 1
Security Light(s): 1
Private Restrooms: 1
Loading Facilities
Grade Level: 1
Exterior
Landscaping: 1
Curb(s) & Gutter(s): 1
Building Sign: 1
Sidewalk(s): 1
Monument Sign: 1
Source of Fincl Data
Accountant: 1
Projected Proforma: 1
Traffic Count
Other (See Remarks): 1
Fencing
Other: 1
See Remarks: 1
Water Source
Other: 1
See Remarks: 1
Freeway/Highway
2.1 - 5 Miles: 1
Building Features
Public Elevator(s): 1
Sewer
Sewer - Public: 1
Railroad
Other (See Remarks): 1
Parking Features
Free: 1
Parking Lot: 1
Electric
Individual Meter: 1
Gas
Other (See Remarks): 1
New Financing
Owner May Carry: 1
1031 Exchange: 1
Existing 1st Loan
Private: 1
Existing 1st Loan Type
Fixed: 1
Existing 1st Loan Terms
Assume-Qualify: 1
Existing 2nd Loan
Other (See Remarks): 1
Existing 2nd Loan Type
Not Applicable: 1
Existing 2nd Loan Terms
Not Applicable: 1
Existing 3rd Loan
Other (See Remarks): 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: 480-899-6207
Sold Info
Loan Type: Cash
Payment Type: Other
Clsing Cost Split: Normal - N
Buyer Concession to Seller: 0
Buyer Concession $/%: %
Seller Concession to Buyer: 0
Seller Concession $/%: %
Remarks Misc
Cross Street: Scottsdale Road and 2nd Street
Directions: East on 2nd Street from Scottsdale Road, left (North) on Wells Fargo Ave. to parking garage.
Geo Lat: 33.492176
Geo Lon: -111.923013
Status Change Info
Off Market Date: 2011-10-23
Under Contract Date: 2011-10-21
Close of Escrow Date: 2011-10-21
Sold Price: $1,200
Income Expenses
Gross Annual Sch Inc: 496891
Net Operating Income: 262682
Property Features
Building Type: Commercial; Office
Business Type: Mixed; Restaurant; Professional/Office; Retail; Bar/Tavern/Lounge
Stories: 2 Stories
Construction: Stucco
Roofing: Other
Floors: Concrete
Ceiling Height: 8.1 Feet to 10 Feet; 10.1 Feet to 12 Feet
Heating: Natural Gas
Cooling: Central Air; Chiller System
Loading Facilities: Grade Level
Interior Features: Finished; Security Light(s); Private Restrooms
Exterior: Landscaping; Curb(s) & Gutter(s); Building Sign; Sidewalk(s); Monument Sign
Fencing: Other; See Remarks
Building Features: Public Elevator(s)
Parking Features: Free; Parking Lot
Electric: Individual Meter
Gas: Other (See Remarks)
Water Source: Other; See Remarks
Sewer: Sewer - Public
Railroad: Other (See Remarks)
New Financing: Owner May Carry; 1031 Exchange
Source of Fincl Data: Accountant; Projected Proforma
Existing 1st Loan: Private
Existing 1st Loan Type: Fixed
Existing 1st Loan Terms: Assume-Qualify
Existing 2nd Loan: Other (See Remarks)
Existing 2nd Loan Type: Not Applicable
Existing 2nd Loan Terms: Not Applicable
Existing 3rd Loan: Other (See Remarks)
Existing 3rd Loan Type: Not Applicable
Existing 3rd Loan Terms: Not Applicable
Existing Othr Ln Trm: Not Applicable
Traffic Count: Other (See Remarks)
Environmental: None
Listing Office: Touchstone Realty, LLC
Last Updated: May - 23 - 2020
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