963 W ROUTE 66, Flagstaff, AZ 86001

$3,550,000
Property Type: Comm/Industry Sale Square Footage: 18,185 Lot Size (sq. ft.): 71,074 Status: Closed
Current Price: $3,550,000 List Date: 11/08/2021 Last Modified: 5/06/2022

Description

Location does not get much better than this! Two excellent commercial buildings located in the heart of Flagstaff, adjacent to the famous Milton transportation corridor. The property is less than a half mile to Northern Arizona University, close to well known shopping, restaurants, car dealerships, and is directly across from one of the largest state of the art NAU student housing facilities in Flagstaff. This 1.63 acre parcel is primed and ready for its next investor opportunity. The property is zoned Highway Commercial. Bldg #1 is 11,500SF. Bldg #2 is 6,685 SF, of which a veterinarian occupies 2,593 SF. Leases are NNN. Goodwill Industries leases through 4/30/23, but willing to vacate sooner. Veterinary clinic lease expires 3/8/22 with the option to renew. Offering Memorandum available.

More Information MLS# 6318474

Contract Info

Ownership: Fee Simple Current Price: $3,550,000 Sold Price: $3,550,000 Status: Closed List Date: 2021-11-08

Location, Tax & Legal

Assessor's Map #: 3 Legal Description (Abbrev): SIXTEENTH: SW QUARTER: NW SECTION: 21 TOWNSHIP: 21N RANGE: 07E DESC AS FLLWS: BEG SE COR DKT 542 PG Assessor's Parcel #: 13 Assessor Parcel Ltr: N Add'l Parcels: No Tax Municipality: Flagstaff Census Tract: 1102 Taxes: 47113 Legal: SIXTEENTH: SW QUARTER: NW SECTION: 21 TOWNSHIP: 21N RANGE: 07E DESC AS FLLWS: BEG SE COR DKT 542 PG Map Code/Grid: C79 House Number: 963 Compass: W Street Name: ROUTE 66 St Suffix: -- City/Town Code: Flagstaff State/Province: AZ Zip Code: 86001 Zip4: 6297 County Code: Coconino Assessor Number: 103-03-013-N Tax Year: 2021

General Property Description

Type of Property: Highway Commercial Ttl Apx SqFt Bldg: 18185 # of Buildings: 2 Uncvrd Parking Spcs: 60 Flood Zone: TBD Year Built: 2000 Zoning: HC

Legal Info

Range: 07E Section: 21 Township: 21N Lot Number: -

Construction

Block: 1

Roofing

Rolled: 1 Metal: 1

Floors

Concrete: 1 Carpet: 1

Bay Info

# of Bays: 1 # of Bay Doors: 1 Bay Door Height: 10

Income & Expenses

Owner Association: No Annual Ownr Asoc Fee: 0 Other Income: 56120 Vacancy Allowance: 0 Adjusted Gross Inc: 271520

Building Type

Commercial: 1

Business Type

Mixed: 1 Service Business: 1 Professional/Office: 1 Retail: 1

Stories

1 Story: 1

Pmt & Rate Info

Cap Rate: 5.02 Equity: 3790000 Total Owed: 0

Showing Notification Methods

Phone Call: 1

Ceiling Height

8 Feet or Less: 1 28.1 Feet or Over: 1

Heating

Natural Gas: 1

Cooling

Central Air: 1

Loading Facilities

Other (See Remarks): 1

Exterior

Corner Lot: 1 Dual Street Ftg: 1 Landscaping: 1 Building Sign: 1 Monument Sign: 1 Security Light(s): 1

Source of Fincl Data

Owner: 1

Traffic Count

Unknown: 1

Fencing

None: 1

Water Source

City Franchise: 1

Freeway/Highway

Frontage: 1 Access: 1

Sewer

Sewer - Public: 1 Sewer - Available: 1

Parking Features

Free: 1 Parking Lot: 1

Electric

APS: 1 City Electric: 1 3 Phase Power: 1

Gas

City Gas: 1 Underground: 1

New Financing

Other (See Remarks): 1

Existing 1st Loan

Private: 1

Reports/Disclosures

Seller Prop Disc Stm: 1

Environmental

None: 1

Sold Info

Loan Type: Other 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: Route 66 Directions: This property is on the corner of Route 66 and W Riordan road directly across from the Standard and next to Galaxy Diner. Geo Lat: 35.191619 Geo Lon: -111.662252

Status Change Info

Off Market Date: 2022-04-18 Under Contract Date: 2022-04-14 Close of Escrow Date: 2022-05-05 Sold Price: $3,550,000

Income Expenses

Gross Annual Sch Inc: 215400 Net Operating Income: 190160

Property Features

Building Type: Commercial Business Type: Mixed; Service Business; Professional/Office; Retail Stories: 1 Story Construction: Block Roofing: Rolled; Metal Floors: Concrete; Carpet Ceiling Height: 8 Feet or Less; 28.1 Feet or Over Heating: Natural Gas Cooling: Central Air Loading Facilities: Other (See Remarks) Exterior: Corner Lot; Dual Street Ftg; Landscaping; Building Sign; Monument Sign; Security Light(s) Fencing: None Parking Features: Free; Parking Lot Electric: APS; City Electric; 3 Phase Power Gas: City Gas; Underground Water Source: City Franchise Sewer: Sewer - Public; Sewer - Available New Financing: Other (See Remarks) Showing Notification Methods: Phone Call Source of Fincl Data: Owner Existing 1st Loan: Private Traffic Count: Unknown Environmental: None
Listing Office: Russ Lyon Sotheby's International Realty
IDX
Last Updated: May - 06 - 2022
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