1050 E SOUTHERN Avenue E, Tempe, AZ 85282 (MLS# 6740865)

1050 E SOUTHERN Avenue E, Tempe, AZ 85282

$2,200,000

Property Type: Comm/Industry Sale Square Footage: 27,798 Lot Size (sq. ft.): 89,298 Status: Closed

Current Price: $2,200,000 List Date: 8/07/2024 Last Modified: 11/09/2024

Description

Over 27,000 square feet of office space. Over 65% occupied with contiguous vacant space up to 3,400 square feet with the smallest sized office at 350 square feet.

More Information MLS# 6740865

Contract Info

Ownership: Fee Simple Current Price: $2,200,000 Sold Price: $2,200,000 Status: Closed List Date: 2024-08-06

Location, Tax & Legal

Assessor's Map #: 32 Legal Description (Abbrev): PT OF SW4 BEG 787.37' E OF SW COR TH E 1098.24' TH N 235' TH N 44D 48' E 21.21' TH E 283.14' TH N Assessor's Parcel #: 2 Assessor Parcel Ltr: U Add'l Parcels: No Tax Municipality: Tempe Census Tract: 319500 Taxes: 34105 Legal: PT OF SW4 BEG 787.37' E OF SW COR TH E 1098.24' TH N 235' TH N 44D 48' E 21.21' TH E 283.14' TH N House Number: 1050 Compass: E Street Name: SOUTHERN St Suffix: Avenue St Dir Sfx: E City/Town Code: Tempe State/Province: AZ Zip Code: 85282 Zip4: 5403 County Code: Maricopa Assessor Number: 133-32-002-U Tax Year: 2023

General Property Description

Ttl Apx SqFt Bldg: 27798 # of Buildings: 12 Uncvrd Parking Spcs: 90 Flood Zone: No Year Built: 1973 Zoning: RO

Legal Info

Range: 4E Section: 26 Township: 1N Lot Number: n/a

Construction

Block: 1

Roofing

Foam: 1

Floors

Concrete: 1 Vinyl: 1 Sealed: 1 Ceramic Tile: 1 Carpet: 1

Income & Expenses

Annual Elec Exp: 32700 Annual Ins Exp: 11800 Annual Landscape Exp: 19500 Annual Maint Exp: 8800 Annual Mgmt Exp: 13800 Annual Trash Exp: 4500 Annual Wtr/Swr Exp: 11700 Owner Association: No Annual Ownr Asoc Fee: 0 Annual Rplcmnt Rsrvs: 30000 Other Income: 1200 Vacancy Allowance: 0.1 Adjusted Gross Inc: 1080

Building Type

Commercial: 1 Office: 1

Business Type

Dental: 1 Medical: 1 Professional/Office: 1

Stories

1 Story: 1

Pmt & Rate Info

Cap Rate: 8.03 Equity: 2200000 Total Owed: 0

Showing Notification Methods

Showing Service: Aligned Showings Text: 1 Email: 1 Phone Call: 1

Lockbox Type

None: 1

Ceiling Height

8 Feet or Less: 1 8.1 Feet to 10 Feet: 1

Heating

Heat Pump: 1

Cooling

Heat Pump: 1

Interior Features

Finished: 1 Unfinished: 1 Finished to Suit: 1 Private Restrooms: 1 Public Restrooms: 1

Loading Facilities

None: 1

Exterior

Corner Lot: 1 Monument Sign: 1

Source of Fincl Data

Unknown: 1

Fencing

None: 1

Water Source

City Franchise: 1

Freeway/Highway

Frontage: 1

Sewer

Sewer - Public: 1

Parking Features

Private: 1

Electric

SRP: 1 Master Meter: 1 3 Phase Power: 1

Gas

None: 1

New Financing

Cash Only: 1

Reports/Disclosures

None: 1

Environmental

None: 1

Contact Info

List Agent Home Phn: 480-227-6767

Sold Info

Loan Type: Other Loan Years: 20 Payment Type: Balloon Clsing Cost Split: Normal - N Buyer Concession to Seller: 0 Buyer Concession $/%: $ Seller Concession to Buyer: 0 Seller Concession $/%: $

Remarks Misc

Cross Street: Southern Avenue & Rural Road Directions: NEC of Southern & Rural east to Terrace Road located on the NWC of Southern and Terrace 1050 E. Southern Avenue Geo Lat: 33.39378 Geo Lon: -111.923417

Status Change Info

Off Market Date: 2024-08-23 Under Contract Date: 2024-08-19 Close of Escrow Date: 2024-11-08 Sold Price: $2,200,000

Income Expenses

Net Operating Income: 176700

Property Features

Building Type: Commercial; Office Business Type: Dental; Medical; Professional/Office Stories: 1 Story Construction: Block Roofing: Foam Floors: Concrete; Vinyl; Sealed; Ceramic Tile; Carpet Ceiling Height: 8 Feet or Less; 8.1 Feet to 10 Feet Heating: Heat Pump Cooling: Heat Pump Loading Facilities: None Interior Features: Finished; Unfinished; Finished to Suit; Private Restrooms; Public Restrooms Exterior: Corner Lot; Monument Sign Fencing: None Parking Features: Private Electric: SRP; Master Meter; 3 Phase Power Gas: None Water Source: City Franchise Sewer: Sewer - Public New Financing: Cash Only Showing Notification Methods: Text; Email; Phone Call Lockbox Type: None Source of Fincl Data: Unknown Environmental: None

Listing Office: Brittney-David R.E. Group

Last Updated: November - 09 - 2024