2034 E Southern Avenue, Tempe, AZ 85282 (MLS# 4876137)

2034 E Southern Avenue, Tempe, AZ 85282

$2,303,000

Property Type: Comm/Industry Sale Square Footage: 24,121 Lot Size (sq. ft.): 105,197 Status: Closed

Current Price: $2,303,000 List Date: 1/17/2013 Last Modified: 1/08/2014

Overview

Description

Southern Avenue Medical Center is a single level garden style feestanding office buildings (North & South building) that is masonry block with painted stucco and spanish tile roof accents. The property features quaint interior courtyards with mature landscaping. Parking is provided by surface and covered spaces at a healthy ration of 5.5 spaces per 1,000 square feet. Ample visitor parking found throughout the site. The buildings total 24,121 square feet with land area of 2.42 acres. The complex is 1.5 mies from Banner Desert Hospital with excellent access to Loop 101 and U.S. 60 Highway. Tenant profile includes professional services in medical related fields. Call listing agent for current rent rolls.

Listing Details MLS# 4876137

Location, Tax & Legal

Map Code/Grid: R37
House Number: 2034
Compass: E
Street Name: Southern
St Suffix: Avenue
City/Town Code: Tempe
State/Province: AZ
Zip Code: 85282
Country: US
County Code: Maricopa
Assessor Number: 133-47-002-f
Tax Year: 1212
Assessor's Map #: 47
Assessor's Parcel #: 2
Assessor Parcel Ltr: f
Add'l Parcels: No
Tax Municipality: Tempe
Taxes: 54200
Legal: Shalimar Estates
Marketing Name: Sharlimar

Contract Info

Ownership: Fee Simple

General Property Description

Type of Property: Medical Office
Ttl Apx SqFt Bldg: 24121
# of Buildings: 2
Year Built: 1973
Uncvrd Parking Spcs: 80
Zoning: R-O

Remarks Misc

Cross Street: Southern and McClintock
Directions: Located on Southern Avenue - North side of the street between McClintock road and the 101 Freeway in Tempe.

Status Change Info

Off Market Date: 2014-01-08
Under Contract Date: 2013-11-05
Close of Escrow Date: 2014-01-06

Legal Info

Lot Number: 2

More Information

Income Expenses

Gross Annual Sch Inc: 317300
Net Operating Income: 203480

Contact Info

List Agent Home Phn: 480-838-8369

Sold Info

Loan Type: Conventional
Loan Years: 30
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
Stucco: Yes

Roofing

Built-Up: Yes
Tile: Yes

Floors

Vinyl: Yes
Wood: Yes
Ceramic Tile: Yes

Income & Expenses

Annual Elec Exp: 7685
Annual Gas Exp: 0
Annual Ins Exp: 4500
Annual Land Lse Exp: 0
Annual Landscape Exp: 9565
Annual Legal & Acctg: 0
Annual Maint Exp: 8400
Annual Mgmt Exp: 14500
Annual Trash Exp: 0
Annual Wtr/Swr Exp: 12460
Owner Association: No
Annual Ownr Asoc Fee: 0
Annual PAD Fee: 0
Annual Rplcmnt Rsrvs: 0
Annual Other Expense: 0
Operating Exp: 111310
Other Income: 0
Vacancy Allowance: 15
Adjusted Gross Inc: 4442200

Building Type

Commercial: Yes
Office: Yes

Business Type

Dental: Yes
Mixed: Yes
Medical: Yes
Professional/Office: Yes

Stories

1 Story: Yes

Pmt & Rate Info

Cap Rate: 7.83
Down Payment: 0
Equity: 2600000
Total Owed: 0
Assessment Balance: 0

Ceiling Height

8.1 Feet to 10 Feet: Yes

Heating

Heat Pump: Yes

Cooling

Heat Pump: Yes

Interior Features

Finished: Yes
Smoke Detector(s): Yes
Security Light(s): Yes
Private Restrooms: Yes

Loading Facilities

None: Yes

Exterior

Corner Lot: Yes
Landscaping: Yes
Monument Sign: Yes

Source of Fincl Data

Owner: Yes

Fencing

Block: Yes
Partial: Yes

Water Source

City Franchise: Yes
Master Meter: Yes

Freeway/Highway

Up to 1 Mile: Yes

Sewer

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

Parking Features

Parking Lot: Yes
Private: Yes
Paved: Yes

Electric

SRP: Yes
Individual Meter: Yes

Gas

None: Yes

New Financing

Cash Only: Yes
Owner May Carry: Yes
1031 Exchange: 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

Existing 3rd Loan Type

Not Applicable: Yes

Reports/Disclosures

Seller Prop Disc Stm: Yes

Existing 3rd Loan Terms

Not Applicable: Yes

Environmental

None: Yes

Existing Othr Ln Trm

Not Applicable: Yes

Property Features

Building Type: Commercial; Office Business Type: Dental; Mixed; Medical; Professional/Office Stories: 1 Story Construction: Block; Stucco Roofing: Built-Up; Tile Floors: Vinyl; Wood; Ceramic Tile Ceiling Height: 8.1 Feet to 10 Feet Heating: Heat Pump Cooling: Heat Pump Loading Facilities: None Interior Features: Finished; Smoke Detector(s); Security Light(s); Private Restrooms Exterior: Corner Lot; Landscaping; Monument Sign Fencing: Block; Partial Parking Features: Parking Lot; Private; Paved Electric: SRP; Individual Meter Gas: None Water Source: City Franchise; Master Meter Sewer: Sewer - Public; Sewer-In & Connected New Financing: Cash Only; Owner May Carry; 1031 Exchange 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 Environmental: None

Documents

Listing Office: West USA Realty

Last Updated: January - 08 - 2014