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

Overview

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.

Listing Details MLS# 4525063

Location, Tax & Legal

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
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

Contract Info

Ownership: Fee Simple

General Property Description

Type of Property: Mixed Use Commercial
Ttl Apx SqFt Bldg: 23210
Ttl Apx Net Rnt Spc: 21512
# of Buildings: Yes
Year Built: 1976
Zoning: C-2
Uncvrd Parking Spcs: 0

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.

Status Change Info

Off Market Date: 2011-10-23
Under Contract Date: 2011-10-21
Close of Escrow Date: 2011-10-21

Legal Info

Township: 2N
Range: 4E
Section: 26
Lot Number: F

More Information

Income Expenses

Gross Annual Sch Inc: 496891
Net Operating Income: 262682

Contact Info

List Agent Home Phn: 480-899-6207

Sold Info

Loan Type: Cash
Payment Type: Other
Clsing Cost Split: Normal - N
Buyer Concession $/%: %
Seller Concession $/%: %
Buyer Concession to Seller: 0
Seller Concession to Buyer: 0

Construction

Stucco: Yes

Roofing

Other: Yes

Floors

Concrete: Yes

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: Yes
Office: Yes

Business Type

Mixed: Yes
Restaurant: Yes
Professional/Office: Yes
Retail: Yes
Bar/Tavern/Lounge: Yes

Stories

2 Stories: Yes

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: Yes
10.1 Feet to 12 Feet: Yes

Heating

Electric: Yes
Natural Gas: Yes

Cooling

Central Air: Yes
Chiller System: Yes

Interior Features

Finished: Yes
Security Light(s): Yes
Private Restrooms: Yes

Loading Facilities

Grade Level: Yes

Exterior

Landscaping: Yes
Curb(s) & Gutter(s): Yes
Building Sign: Yes
Sidewalk(s): Yes
Monument Sign: Yes

Source of Fincl Data

Accountant: Yes
Projected Proforma: Yes

Traffic Count

Other (See Remarks): Yes

Fencing

Other: Yes
See Remarks: Yes

Water Source

Other: Yes
See Remarks: Yes

Freeway/Highway

2.1 - 5 Miles: Yes

Building Features

Public Elevator(s): Yes

Sewer

Sewer - Public: Yes

Railroad

Other (See Remarks): Yes

Parking Features

Free: Yes
Parking Lot: Yes

Electric

Individual Meter: Yes

Gas

Other (See Remarks): Yes

New Financing

Owner May Carry: Yes
1031 Exchange: Yes

Existing 1st Loan

Private: Yes

Existing 1st Loan Type

Fixed: Yes

Existing 1st Loan Terms

Assume-Qualify: Yes

Existing 2nd Loan

Other (See Remarks): Yes

Existing 2nd Loan Type

Not Applicable: Yes

Existing 2nd Loan Terms

Not Applicable: Yes

Existing 3rd Loan

Other (See Remarks): Yes

Existing 3rd Loan Type

Not Applicable: Yes

Reports/Disclosures

None: Yes

Existing 3rd Loan Terms

Not Applicable: Yes

Environmental

None: Yes

Existing Othr Ln Trm

Not Applicable: Yes

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