7373 E SCOTTSDALE Mall, Scottsdale, AZ 85251

$1,200
Property Type: Comm/Industry Sale Square Footage: 23,210 Lot Size (sq. ft.): 19,988 Status: Closed
Current Price: $1,200 List Date: 1/21/2011 Last Modified: 5/23/2020

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.

More Information MLS# 4525063

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

Loading Facilities

Grade Level: 1

Exterior

Landscaping: 1 Building Sign: 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

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 2nd Loan

Other (See Remarks): 1

Existing 3rd Loan

Other (See Remarks): 1

Reports/Disclosures

None: 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 Exterior: Landscaping; Building Sign; Monument Sign Fencing: Other; See Remarks 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 2nd Loan: Other (See Remarks) Existing 3rd Loan: Other (See Remarks) Existing Othr Ln Trm: Not Applicable Traffic Count: Other (See Remarks) Environmental: None
Listing Office: Touchstone Realty, LLC
IDX
Last Updated: May - 23 - 2020
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