1241 E BROADWAY Road, Mesa, AZ 85204
$1,630,000
Property Type:
Comm/Industry Sale
Square Footage:
21,601
Lot Size (sq. ft.):
23,958
Status:
Closed
Current Price:
$1,630,000
List Date:
4/07/2020
Last Modified:
8/06/2021
Description
Located in the heart of Mesa with nearby major revitalization projects already underway. 30,000+ vehicles pass directly along the 444 feet of frontage along major thoroughfare Broadway Road. Over 400,000 residents within a five mile radius. Professionally landscaped with shaded porch entrances for all tenants make this an attractive location for businesses. Opportunity to increase revenue with lease-up.
• Plenty of Parking
• Easy access, two curb cuts with two lanes each direction, center turn lane, close to US 60 freeway
• Area undergoing revitalization
• Close to Historic Downton Mesa: Museums, Colleges, Art Center, Shopping and Dining
Offering Memorandum available upon request.
More Information MLS# 6063173
Contract Info
Ownership: Fee Simple
Current Price: $1,630,000
Sold Price: $1,630,000
Status: Closed
List Date: 2020-04-07
Location, Tax & Legal
Assessor's Map #: 3
Legal Description (Abbrev): MESA VILLAGE MCR 61/12 PT TRACT A D/A/F BEG AT NE COR TR A TH S 217F TH W 43F TO TR POB TH N 25F T H
Assessor's Parcel #: 156
Assessor Parcel Ltr: H
Add'l Parcels: Yes
Tax Municipality: Mesa
Census Tract: 421802
Taxes: 17700
Legal: MESA VILLAGE MCR 61/12 PT TRACT A D/A/F BEG AT NE COR TR A TH S 217F TH W 43F TO TR POB TH N 25F T H
Marketing Name: Hillcrest Plaza
Map Code/Grid: R39
House Number: 1241
Compass: E
Street Name: BROADWAY
St Suffix: Road
City/Town Code: Mesa
State/Province: AZ
Zip Code: 85204
Zip4: 2253
County Code: Maricopa
Subdivision: MESA VILLAGE
Assessor Number: 139-03-156-H
Tax Year: 2019
General Property Description
Type of Property: Retail Strip Center
Ttl Apx SqFt Bldg: 21601
# of Buildings: 3
Uncvrd Parking Spcs: 81
Year Built: 1977
Zoning: LC
Legal Info
Range: 5E
Section: 25
Township: 1N
Lot Number: 139-03-156 F, H & K
Construction
Block: 1
Other: 1
Roofing
Foam: 1
Floors
Other: 1
Income & Expenses
Annual Elec Exp: 4525
Annual Gas Exp: 0
Annual Ins Exp: 1597
Annual Land Lse Exp: 0
Annual Landscape Exp: 2158.94
Annual Legal & Acctg: 0
Annual Maint Exp: 42837
Annual Mgmt Exp: 10200
Annual Trash Exp: 820
Annual Wtr/Swr Exp: 3486.54
Owner Association: No
Annual Ownr Asoc Fee: 0
Annual PAD Fee: 0
Annual Rplcmnt Rsrvs: 0
Annual Other Expense: 149
Other Income: 0
Vacancy Allowance: 0.07
Adjusted Gross Inc: 210316.71
Building Type
Commercial: 1
Business Type
Service Business: 1
Religious Facility: 1
Professional/Office: 1
Retail: 1
Food Service: 1
Stories
1 Story: 1
Pmt & Rate Info
Cap Rate: 5.48
Down Payment: 20000
Equity: 1950000
Total Owed: 0
Assessment Balance: 0
Showing Notification Methods
Text: 1
Email: 1
Phone Call: 1
Lockbox Type
None: 1
Ceiling Height
8.1 Feet to 10 Feet: 1
Heating
Other: 1
See Remarks: 1
Cooling
Other: 1
See Remarks: 1
Interior Features
Other (See Remarks): 1
Loading Facilities
None: 1
Road Access Type
Dedicated Street: 1
Road Surface Type
Asphalt: 1
Exterior
Landscaping: 1
Curb(s) & Gutter(s): 1
Sidewalk(s): 1
Monument Sign: 1
Source of Fincl Data
Owner: 1
Traffic Count
25,001 to 35,000: 1
Fencing
Block: 1
Partial: 1
Water Source
City Franchise: 1
Freeway/Highway
1.1 - 2 Miles: 1
Sewer
Sewer - Public: 1
Parking Features
Free: 1
Private: 1
Paved: 1
Electric
SRP: 1
Gas
Other (See Remarks): 1
New Financing
Cash Only: 1
Existing 1st Loan
Treat as Free&Clear: 1
Existing 1st Loan Type
Not Applicable: 1
Existing 1st Loan Terms
Not Applicable: 1
Existing 2nd Loan
Treat as Free&Clear: 1
Existing 2nd Loan Type
Not Applicable: 1
Existing 2nd Loan Terms
Not Applicable: 1
Existing 3rd Loan
Treat as Free&Clear: 1
Existing 3rd Loan Type
Not Applicable: 1
Reports/Disclosures
None: 1
Existing 3rd Loan Terms
Not Applicable: 1
Environmental
None: 1
Existing Othr Ln Trm
Not Applicable: 1
Contact Info
List Agent Home Phn: 480-900-8484
Sold Info
Loan Type: Other
Loan Years: 2
Payment Type: Interest Only
Clsing Cost Split: Normal - N
Buyer Concession to Seller: 0
Buyer Concession $/%: $
Seller Concession to Buyer: 0
Seller Concession $/%: $
Remarks Misc
Cross Street: Broadway Road & Stapley Drive
Geo Lat: 33.407386
Geo Lon: -111.803758
Status Change Info
Off Market Date: 2020-09-28
Under Contract Date: 2020-05-15
Close of Escrow Date: 2020-08-30
Sold Price: $1,630,000
Income Expenses
Gross Annual Sch Inc: 226147
Net Operating Income: 106901
Property Features
Building Type: Commercial
Business Type: Service Business; Religious Facility; Professional/Office; Retail; Food Service
Stories: 1 Story
Construction: Block; Other
Roofing: Foam
Floors: Other
Ceiling Height: 8.1 Feet to 10 Feet
Heating: Other; See Remarks
Cooling: Other; See Remarks
Loading Facilities: None
Interior Features: Other (See Remarks)
Exterior: Landscaping; Curb(s) & Gutter(s); Sidewalk(s); Monument Sign
Fencing: Block; Partial
Parking Features: Free; Private; Paved
Road Access Type: Dedicated Street
Electric: SRP
Gas: Other (See Remarks)
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: 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
Traffic Count: 25,001 to 35,000
Environmental: None
Listing Office:
Keller Williams Realty East Valley
Last Updated: August - 06 - 2021
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