20325 N 51ST Avenue 150, Glendale, AZ 85308
$1,800,000
Property Type:
Comm/Industry Sale
Square Footage:
6,650
Lot Size (sq. ft.):
6,650
Status:
Closed
Current Price:
$1,800,000
List Date:
12/07/2013
Last Modified:
10/30/2024
Description
9% Cap rate. First Time on the market. This property has been 100% occupied since 2010 by a Dental University with over $400K in Tenant Improvements, as a dental office/student practical lab. 10 operatories, 4 wet labs, 2 private offices, X-Ray room, conference room. ATSU has been in operation since 1892. This is an absolute NNN lease with 2.5% increases per year. Tenant has high credit rating.
More Information MLS# 5039834
Contract Info
Ownership: Fee Simple
Current Price: $1,800,000
Sold Price: $1,800,000
Status: Closed
List Date: 2013-12-06
Location, Tax & Legal
Unit #: 150
Assessor's Map #: 29
Legal Description (Abbrev): ARROWHEAD OFFICE SUITES CONDOMINIUM
Assessor's Parcel #: 33
Add'l Parcels: No
Tax Municipality: Glendale
Census Tract: 614300
Taxes: 3664
Legal: ARROWHEAD OFFICE SUITES CONDOMINIUM MCR 817-40 UNIT 150 (PLEASE N
Map Code/Grid: J32
House Number: 20325
Compass: N
Street Name: 51ST
St Suffix: Avenue
City/Town Code: Glendale
State/Province: AZ
Zip Code: 85308
Zip4: 4622
County Code: Maricopa
Subdivision: Arrowhead Office Condos
Assessor Number: 206-29-033
Tax Year: 2013
General Property Description
Ttl Apx SqFt Bldg: 6650
# of Buildings: 1
Uncvrd Parking Spcs: 8
Year Built: 2006
Zoning: c2
Legal Info
Range: 2E
Section: 21
Township: 4N
Lot Number: 150
Construction
Stucco: 1
Roofing
Tile: 1
Floors
Concrete: 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: Yes
Annual Ownr Asoc Fee: 0
Annual PAD Fee: 0
Annual Rplcmnt Rsrvs: 0
Annual Other Expense: 0
Operating Exp: 3664
Other Income: 0
Vacancy Allowance: 0
Adjusted Gross Inc: 0
Building Type
Office: 1
Business Type
Dental: 1
Medical: 1
Stories
1 Story: 1
Pmt & Rate Info
Cap Rate: 9.17
Down Payment: 0
Equity: 1950000
Total Owed: 0
Avg Rent P/SqFt: 26.92
Assessment Balance: 0
Ceiling Height
8.1 Feet to 10 Feet: 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
Exterior
Building Sign: 1
Source of Fincl Data
Owner: 1
Fencing
None: 1
Water Source
City Franchise: 1
Freeway/Highway
Frontage: 1
Sewer
Sewer - Public: 1
Railroad
Other (See Remarks): 1
Parking Features
Free: 1
Electric
Other (See Remarks): 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
Use Restrictions
CC&R's: 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: Cash
Payment Type: Other
Clsing Cost Split: Normal - N
Buyer Concession to Seller: 0
Buyer Concession $/%: $
Seller Concession to Buyer: 0
Seller Concession $/%: $
Remarks Misc
Cross Street: 101 Freeway/ 51st Ave
Directions: North on 51st Ave, Building on NEC of the complex.
Geo Lat: 33.670546
Geo Lon: -112.167545
Status Change Info
Off Market Date: 2014-04-08
Under Contract Date: 2014-03-18
Close of Escrow Date: 2014-04-18
Sold Price: $1,800,000
Income Expenses
Net Operating Income: 178784
Property Features
Building Type: Office
Business Type: Dental; Medical
Stories: 1 Story
Construction: Stucco
Roofing: Tile
Floors: Concrete
Ceiling Height: 8.1 Feet to 10 Feet
Heating: Other; See Remarks
Cooling: Central Air
Loading Facilities: None
Interior Features: Finished
Exterior: Building Sign
Fencing: None
Parking Features: Free
Road Access Type: Dedicated Street
Electric: Other (See Remarks)
Gas: Other (See Remarks)
Water Source: City Franchise
Sewer: Sewer - Public
Railroad: Other (See Remarks)
New Financing: Cash Only
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
Use Restrictions: CC&R's
Environmental: None
Listing Office:
RE/MAX Excalibur
Last Updated: October - 30 - 2024
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