$950,000
$1,030,000
7.8%For more information regarding the value of a property, please contact us for a free consultation.
10,707 Sqft Lot
SOLD DATE : 06/29/2022
Key Details
Sold Price $950,000
Property Type Commercial
Listing Status Sold
Purchase Type For Sale
Subdivision Ormes Addition
MLS Listing ID 6237503
Sold Date 06/29/22
Originating Board Arizona Regional Multiple Listing Service (ARMLS)
Year Built 1971
Annual Tax Amount $7,200
Tax Year 2020
Lot Size 10,707 Sqft
Acres 0.25
Property Description
Office/Retail Building for sale. This unique building flexes between
office use or retail use with frontage along 7th street. Perfect for an investor!
This is priced at a 6.0% CAP Rate.
There are 4 covered parking spaces in the rear of the building for employees, and a total of 8 open parking spaces in front of the building. Interior build out is fresh and exciting with exposed duct work and 'wood look' ceramic tile gives a terrific modern feel to the space.
Tenant just signed a 5 year lease with 3% bumps year over year. A 5 year renewal option is available as well.
Location
State AZ
County Maricopa
Community Ormes Addition
Zoning C-2
Direction From I10 go North on 7th street 1 1/2 miles. Property will be on the west side of the street.
Interior
Heating Heat Pump
Cooling Central A/C
Exterior
Garage Free, Paved Parking
Fence Other
Waterfront No
Roof Type See Remarks, Rolled/Hot Mop
Present Use Retail, Office
Parking Type Free, Paved Parking
Total Parking Spaces 12
Building
Sewer Public Sewer
Water City Franchise
Others
Senior Community No
Tax ID 118-45-086
Financing SBA
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9280 S Kyrene Rd Suite 117, Tempe, AZ,, 85284, United States