1986 E UNIVERSITY Drive, Tempe, AZ 85288
$1,300,000
Property Type:
Comm/Industry Sale
Square Footage:
1,278
Lot Size (sq. ft.):
21,413
Status:
Closed
Current Price:
$1,300,000
List Date:
9/24/2024
Last Modified:
10/25/2024
Description
Rare opportunity to purchase infill land on University Drive for possible multi family units, apartments, retail, restaurant etc. Property is zoned agricultural giving it a variety of uses. Property is located near Arizona State's Tempe Campus, less than a 1/2 from Loop 101 in a high demand retail trade area. The property is close to Tempe Marketplace and ASU. Property includes a 1278 sq/ft adobe home that is currently occupied. Irrigated lot. Very unique property with a variety of potential uses. Do not disturb occupants. Sale is for the land and current single family home. Buyer to verify all facts, figures, measurements and any information of material importance.
More Information MLS# 6423796
Contract Info
Ownership: Fee Simple
Current Price: $1,300,000
Sold Price: $1,300,000
Status: Closed
List Date: 2022-06-18
Location, Tax & Legal
Assessor's Map #: 39
Legal Description (Abbrev): PTN E 440 F SE4 SW4 COM S4 COR SEC 13 TH W ALG S LN SW4 440.10 F TH N 01D 14M E 65.02 F TH E 3.85 F
Assessor's Parcel #: 2
Assessor Parcel Ltr: U
Add'l Parcels: Yes
Tax Municipality: Tempe
Census Tract: 318400
Taxes: 1330
Legal: PTN E 440 F SE4 SW4 COM S4 COR SEC 13 TH W ALG S LN SW4 440.10 F TH N 01D 14M E 65.02 F TH E 3.85 F TPOB TH N 145 F TH
Map Code/Grid: R37
House Number: 1986
Compass: E
Street Name: UNIVERSITY
St Suffix: Drive
City/Town Code: Tempe
State/Province: AZ
Zip Code: 85288
Zip4: 4553
County Code: Maricopa
Assessor Number: 132-39-002-U
Tax Year: 2021
General Property Description
Type of Property: Commercial
Ttl Apx SqFt Bldg: 1278
# of Buildings: 1
Uncvrd Parking Spcs: 10
Year Built: 1946
Zoning: AG
Legal Info
Range: 4E
Section: 13
Township: 1N
Lot Number: -
Construction
Block: 1
Stucco: 1
Wood Frame: 1
Other: 1
Roofing
Other: 1
Floors
Ceramic Tile: 1
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: No
Annual Ownr Asoc Fee: 0
Annual PAD Fee: 0
Annual Rplcmnt Rsrvs: 0
Annual Other Expense: 0
Other Income: 0
Vacancy Allowance: 0
Adjusted Gross Inc: 0
Building Type
Commercial: 1
Other (See Remarks): 1
Business Type
Other: 1
See Remarks: 1
Stories
1 Story: 1
Pmt & Rate Info
Equity: 1350000
Total Owed: 0
Assessment Balance: 0
Showing Notification Methods
Text: 1
Email: 1
Phone Call: 1
Lockbox Type
None: 1
Ceiling Height
8 Feet or Less: 1
Heating
Other: 1
See Remarks: 1
Cooling
Central Air: 1
Interior Features
Finished: 1
Loading Facilities
None: 1
Road Access Type
Dedicated Street: 1
Private Road: 1
Source of Fincl Data
Other (See Remarks): 1
Traffic Count
35,001 to 50,000: 1
Fencing
Other: 1
See Remarks: 1
Water Source
Other: 1
See Remarks: 1
Freeway/Highway
1.1 - 2 Miles: 1
Building Features
Other (See Remarks): 1
Sewer
Other: 1
Parking Features
Fenced: 1
Free: 1
Private: 1
Electric
SRP: 1
Gas
Other (See Remarks): 1
New Financing
Cash Only: 1
Other (See Remarks): 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
Other (See Remarks): 1
Existing 2nd Loan Type
Not Applicable: 1
Existing 2nd Loan Terms
Not Applicable: 1
Existing 3rd Loan
Other (See Remarks): 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
Sold Info
Loan Type: SBA
Loan Years: 30
Payment Type: Fixed
Clsing Cost Split: Normal - N
Buyer Concession to Seller: 15000
Buyer Concession $/%: $
Seller Concession to Buyer: 0
Seller Concession $/%: $
Remarks Misc
Cross Street: University Drive & Smith Rd
Directions: University and Smith Drive
Geo Lat: 33.422389
Geo Lon: -111.901635
Status Change Info
Off Market Date: 2024-09-24
Under Contract Date: 2024-04-15
Close of Escrow Date: 2024-10-24
Sold Price: $1,300,000
Property Features
Building Type: Commercial; Other (See Remarks)
Business Type: Other; See Remarks
Stories: 1 Story
Construction: Block; Stucco; Wood Frame; Other
Roofing: Other
Floors: Ceramic Tile
Ceiling Height: 8 Feet or Less
Heating: Other; See Remarks
Cooling: Central Air
Loading Facilities: None
Interior Features: Finished
Fencing: Other; See Remarks
Building Features: Other (See Remarks)
Parking Features: Fenced; Free; Private
Road Access Type: Dedicated Street; Private Road
Electric: SRP
Gas: Other (See Remarks)
Water Source: Other; See Remarks
Sewer: Other
New Financing: Cash Only; Other (See Remarks)
Showing Notification Methods: Text; Email; Phone Call
Lockbox Type: None
Source of Fincl Data: Other (See Remarks)
Existing 1st Loan: Treat as Free&Clear
Existing 1st Loan Type: Not Applicable
Existing 1st Loan Terms: Not Applicable
Existing 2nd Loan: Other (See Remarks)
Existing 2nd Loan Type: Not Applicable
Existing 2nd Loan Terms: Not Applicable
Existing 3rd Loan: Other (See Remarks)
Existing 3rd Loan Type: Not Applicable
Existing 3rd Loan Terms: Not Applicable
Existing Othr Ln Trm: Not Applicable
Traffic Count: 35,001 to 50,000
Environmental: None
Listing Office:
Realty ONE Group
Last Updated: October - 25 - 2024
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