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

Overview

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

Listing Details MLS# 6115796

Location, Tax & Legal

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
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

Contract Info

Ownership: Other (See Remarks)

General Property Description

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

Remarks Misc

Cross Street: W Elliot Rd & S Hardy Dr

Status Change Info

Off Market Date: 2021-05-26
Under Contract Date: 2021-03-22
Close of Escrow Date: 2021-05-28

Legal Info

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

More Information

Income Expenses

Gross Annual Sch Inc: 521987
Net Operating Income: 327969

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

Block: Yes

Roofing

Other: Yes

Floors

Ceramic Tile: Yes
Carpet: Yes

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: Yes

Business Type

Professional/Office: Yes

Stories

1 Story: Yes

Pmt & Rate Info

Cap Rate: 6.88
Equity: 4766000
Total Owed: 0

Showing Notification Methods

Text: Yes
Email: Yes
Phone Call: Yes

Lockbox Type

None: Yes

Ceiling Height

10.1 Feet to 12 Feet: Yes

Heating

Electric: Yes

Cooling

Central Air: Yes

Interior Features

Finished: Yes

Loading Facilities

None: Yes

Source of Fincl Data

Other (See Remarks): Yes

Fencing

None: Yes

Water Source

City Franchise: Yes

Sewer

Sewer - Public: Yes

Parking Features

Paved: Yes

Electric

Other (See Remarks): Yes

Gas

None: Yes

New Financing

Other (See Remarks): Yes

Reports/Disclosures

Other (See Remarks): Yes

Environmental

Other (See Remarks): Yes

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 Interior Features: Finished 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

Last Updated: February - 25 - 2025