114 W ADAMS Street C101, Phoenix, AZ 85003 (MLS# 5849250)

114 W ADAMS Street C101, Phoenix, AZ 85003

$707,000

Property Type: Comm/Industry Sale Square Footage: 9,445 Lot Size (sq. ft.): 1,487 Status: Closed

Current Price: $707,000 List Date: 11/20/2018 Last Modified: 6/16/2026

Overview

Description

Located in one of the highest rated walk-able locations in Downtown Phoenix, ground floor of Orpheum Lofts and across from 44 Monroe. The light rail passes within 15ft of Orpheum giving a true urban feel as well as a convenient means of transportation for patrons. Needless to say, this property is positioned impeccably. The Gothic style of Orpheum is timeless, desirable, and very rare for Phoenix. It is one of the only historic high rises in Phoenix and one of the most beautiful. Tenant is in the middle of their first option period and is one of the best--if not the best--sushi restaurants in Phoenix, Harumi Sushi.

Listing Details MLS# 5849250

Location, Tax & Legal

Map Code/Grid: Q34
House Number: 114
Compass: W
Street Name: ADAMS
St Suffix: Street
City/Town Code: Phoenix
State/Province: AZ
Zip Code: 85003
Zip4: 2006
Country: US
County Code: Maricopa
Subdivision: ORPHEUM LOFTS COMMERCIAL UNIT AMD
Assessor Number: 112-21-583
Tax Year: 2018
Unit #: C101
Assessor's Map #: 21
Legal Description (Abbrev): LOT C101 ORPHEUM LOFTS COMMERCIAL UNIT AMD MCR 088444
Assessor's Parcel #: 583
Add'l Parcels: No
Tax Municipality: Maricopa - COUNTY
Census Tract: 114100
Taxes: 3480
Legal: LOT C101 ORPHEUM LOFTS COMMERCIAL UNIT AMD MCR 088444

Contract Info

Ownership: Condominium

General Property Description

Ttl Apx SqFt Bldg: 9445
Ttl Apx Net Rnt Spc: 1169
# of Buildings: Yes
Year Built: 1990
Zoning: DTC-BCORE
Uncvrd Parking Spcs: 0

Remarks Misc

Cross Street: Adams and 1st Ave
Directions: South on 1st Ave. West on Adams to property on right.

Status Change Info

Off Market Date: 2019-06-28
Under Contract Date: 2019-06-27
Close of Escrow Date: 2019-08-15

Legal Info

Township: 1N
Range: 3E
Section: 8
Lot Number: C101

More Information

Income Expenses

Net Operating Income: 43096

Contact Info

List Agent Home Phn: 602-315-9292

Sold Info

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

Construction

Block: Yes

Roofing

Built-Up: Yes

Floors

Concrete: Yes

Income & Expenses

Annual Elec Exp: 0
Annual Gas Exp: 0
Annual Ins Exp: 0
Annual Land Lse Exp: 0
Annual Landscape Exp: 0
Annual Legal & Acctg: 0
Annual Maint Exp: 0
Annual Mgmt Exp: 0
Annual Trash Exp: 0
Annual Wtr/Swr Exp: 0
Owner Association: Yes
Annual Ownr Asoc Fee: 0
Annual PAD Fee: 0
Annual Rplcmnt Rsrvs: 0
Annual Other Expense: 0
Operating Exp: 3480
Other Income: 0
Vacancy Allowance: 0
Adjusted Gross Inc: 0

Building Type

Commercial: Yes

Business Type

Mixed: Yes
Restaurant: Yes
Retail: Yes
Food Service: Yes
Bar/Tavern/Lounge: Yes

Stories

11+ Stories: Yes

Pmt & Rate Info

Cap Rate: 5.94
Down Payment: 0
Equity: 725000
Total Owed: 0
Assessment Balance: 0

Ceiling Height

12.1 Feet to 14 Feet: Yes

Heating

Electric: Yes

Cooling

Chiller System: Yes

Interior Features

Finished: Yes
Fire Sprinklers: Yes
Public Restrooms: Yes

Loading Facilities

None: Yes

Road Surface Type

Asphalt: Yes
Concrete: Yes

Exterior

Corner Lot: Yes
Curb(s) & Gutter(s): Yes
Building Sign: Yes
Sidewalk(s): Yes

Source of Fincl Data

Owner: Yes

Fencing

None: Yes

Water Source

Submetered System: Yes
Individual Meter: Yes
Other: Yes
See Remarks: Yes

Building Features

Conference Room: Yes
Exercise Room: Yes
Kitchen: Yes
LAN Compatible Copr: Yes

Sewer

Sewer - Public: Yes
Sewer-In & Connected: Yes

Parking Features

Fee: Yes
Parking Lot: Yes
Paved: Yes

Electric

Submetered System: Yes
Individual Meter: Yes
3 Phase Power: Yes

Gas

Other (See Remarks): Yes

New Financing

Cash Only: Yes
1031 Exchange: Yes

Special

Owner/Agent: Yes

Existing 1st Loan

Treat as Free&Clear: Yes

Existing 1st Loan Type

Not Applicable: Yes

Existing 1st Loan Terms

Not Applicable: Yes

Existing 2nd Loan

Treat as Free&Clear: Yes

Existing 2nd Loan Type

Not Applicable: Yes

Existing 2nd Loan Terms

Not Applicable: Yes

Existing 3rd Loan

Treat as Free&Clear: Yes

Use Restrictions

CC&R's: Yes
Currently Leased: Yes
Airport Flight Zone: 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 Business Type: Mixed; Restaurant; Retail; Food Service; Bar/Tavern/Lounge Stories: 11+ Stories Construction: Block Roofing: Built-Up Floors: Concrete Ceiling Height: 12.1 Feet to 14 Feet Cooling: Chiller System Loading Facilities: None Interior Features: Finished; Fire Sprinklers; Public Restrooms Exterior: Corner Lot; Curb(s) & Gutter(s); Building Sign; Sidewalk(s) Fencing: None Building Features: Conference Room; Exercise Room; Kitchen; LAN Compatible Copr Parking Features: Fee; Parking Lot; Paved Electric: Submetered System; Individual Meter; 3 Phase Power Gas: Other (See Remarks) Water Source: Submetered System; Individual Meter; Other; See Remarks Sewer: Sewer - Public; Sewer-In & Connected New Financing: Cash Only; 1031 Exchange Special: Owner/Agent Source of Fincl Data: Owner Existing 1st Loan: Treat as Free&Clear Existing 1st Loan Type: Not Applicable Existing 1st Loan Terms: Not Applicable Existing 2nd Loan: Treat as Free&Clear Existing 2nd Loan Type: Not Applicable Existing 2nd Loan Terms: Not Applicable Existing 3rd Loan: Treat as Free&Clear Existing 3rd Loan Type: Not Applicable Existing 3rd Loan Terms: Not Applicable Existing Othr Ln Trm: Not Applicable Road Surface Type: Asphalt; Concrete Use Restrictions: CC&R's; Currently Leased; Airport Flight Zone Environmental: None

Listing Office: Metro Realty

Last Updated: June - 16 - 2026