850 & 858 W ELLIOT Road, Tempe, AZ 85284

$4,300,000
Property Type: Comm/Industry Sale Square Footage: 24,960 Lot Size (sq. ft.): 102,001 Status: Closed
Current Price: $4,300,000 List Date: 5/26/2021 Last Modified: 2/25/2025

Description

• Two (2) freestanding, single-story, Class A multi-tenant office buildings • 850 W Elliot (east building): +/- 16,000 SF - Four (4) Office Suites • 858 W Elliot (west building): +/- 8,960 SF - Three (3) Office Suites • Suite 102 (+/- 6,500 SF) available for owner-user to occupy or Seller will sign a 1-year lease at $23.00/PSF Modified Gross at COE • Ample surface & covered parking available • Central Tempe location with convenient access to the I-10, 101, and 202 Freeways

More Information MLS# 6115796

Contract Info

Ownership: Other (See Remarks) Current Price: $4,300,000 Sold Price: $4,300,000 Status: Closed List Date: 2020-08-11

Location, Tax & Legal

Assessor's Map #: 90 Legal Description (Abbrev): LOT 1 ROOSEVELT COMMERCE PARK MCR 049913 Assessor's Parcel #: 21 Add'l Parcels: No Tax Municipality: Tempe Census Tract: 320001 Taxes: 65555 Legal: LOT 1 ROOSEVELT COMMERCE PARK MCR 049913 Map Code/Grid: S36 House Number: 850 & 858 Compass: W Street Name: ELLIOT St Suffix: Road City/Town Code: Tempe State/Province: AZ Zip Code: 85284 Zip4: 1206 County Code: Maricopa Subdivision: ROOSEVELT COMMERCE PARK Assessor Number: 301-90-021 Tax Year: 2020

General Property Description

Ttl Apx SqFt Bldg: 24960 # of Buildings: 2 Uncvrd Parking Spcs: 48 Year Built: 2001 Zoning: GID

Legal Info

Range: 4E Section: 9 Township: 1S Lot Number: 1

Construction

Block: 1

Roofing

Other: 1

Floors

Ceramic Tile: 1 Carpet: 1

Income & Expenses

Annual Elec Exp: 40595 Annual Ins Exp: 4952 Annual Landscape Exp: 20258 Annual Maint Exp: 15440 Annual Mgmt Exp: 14000 Annual Trash Exp: 1190 Annual Wtr/Swr Exp: 6109 Owner Association: No Annual Ownr Asoc Fee: 0 Annual Other Expense: 25916 Operating Exp: 194015 Other Income: 0 Vacancy Allowance: 0.05 Adjusted Gross Inc: 495887.65

Building Type

Office: 1

Business Type

Professional/Office: 1

Stories

1 Story: 1

Pmt & Rate Info

Cap Rate: 6.88 Equity: 4766000 Total Owed: 0

Showing Notification Methods

Text: 1 Email: 1 Phone Call: 1

Lockbox Type

None: 1

Ceiling Height

10.1 Feet to 12 Feet: 1

Heating

Electric: 1

Cooling

Central Air: 1

Loading Facilities

None: 1

Source of Fincl Data

Other (See Remarks): 1

Fencing

None: 1

Water Source

City Franchise: 1

Sewer

Sewer - Public: 1

Parking Features

Paved: 1

Electric

Other (See Remarks): 1

Gas

None: 1

New Financing

Other (See Remarks): 1

Reports/Disclosures

Other (See Remarks): 1

Environmental

Other (See Remarks): 1

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: W Elliot Rd & S Hardy Dr Geo Lat: 33.349662 Geo Lon: -111.952125

Status Change Info

Off Market Date: 2021-05-26 Under Contract Date: 2021-03-22 Close of Escrow Date: 2021-05-28 Sold Price: $4,300,000

Income Expenses

Gross Annual Sch Inc: 521987 Net Operating Income: 327969

Property Features

Building Type: Office Business Type: Professional/Office Stories: 1 Story Construction: Block Roofing: Other Floors: Ceramic Tile; Carpet Ceiling Height: 10.1 Feet to 12 Feet Cooling: Central Air Loading Facilities: None Fencing: None Parking Features: Paved Electric: Other (See Remarks) Gas: None Water Source: City Franchise Sewer: Sewer - Public New Financing: Other (See Remarks) Showing Notification Methods: Text; Email; Phone Call Lockbox Type: None Source of Fincl Data: Other (See Remarks) Environmental: Other (See Remarks)
Listing Office: The Menlo Group Commercial Real Estate
IDX
Last Updated: February - 25 - 2025
Copyright 2025 Arizona Regional Multiple Listing Service, Inc. All rights reserved. Information Not Guaranteed and Must Be Confirmed by End User. Site contains live data.
Search powered by FBS Products