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

Overview

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.

Listing Details MLS# 6423796

Location, Tax & Legal

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
Country: US
County Code: Maricopa
Assessor Number: 132-39-002-U
Tax Year: 2021

Contract Info

Ownership: Fee Simple

General Property Description

Type of Property: Commercial
Ttl Apx SqFt Bldg: 1278
# of Buildings: Yes
Year Built: 1946
Uncvrd Parking Spcs: 10
Zoning: AG

Remarks Misc

Cross Street: University Drive & Smith Rd
Directions: University and Smith Drive

Status Change Info

Off Market Date: 2024-09-24
Under Contract Date: 2024-04-15
Close of Escrow Date: 2024-10-24

Legal Info

Township: 1N
Range: 4E
Section: 13
Lot Number: -

More Information

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 $/%: $

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

Office Phone: 623-236-1414

Office Email: ron.copus@realtyonegroup.com

Last Updated: October - 25 - 2024