2680 S VAL VISTA Drive, Gilbert, AZ 85295

$1,100,000
Property Type: Comm/Industry Sale Square Footage: 4,913 Lot Size (sq. ft.): 1,171 Status: Closed
Current Price: $1,100,000 List Date: 5/23/2018 Last Modified: 1/09/2025

Overview

Description

FINANCIAL SUMMARY Sale Price: $1,200,000 Price PSF: $242 NOI (Years 1-3): $64,691 (5.39% CAP) NOI (Year 4): $88,691 (7.39% CAP) NOI (Year 5): $90,465 (7.53% CAP) NOI (Year 6): $92,274 (7.69% CAP) NOI (Year 7): $94,120 (7.84% CAP) NOI (Year 8 - Annualized): $96,002 (8.00% Annualized CAP) PROPERTY HIGHLIGHTS • +/- 4,965 SF Office Condominium • 100% Occupied by Spondeo Preschool With Substantial Tenant Improvements • Long-Term, Single Tenant, Net Lease Thru 4/30/25 • Located One (1) Mile North of South Loop 202 • Close Proximity to Professional, Medical, and Retail Amenities in Fast-Growing, High Demographic Area • Zoning: GO, Town of Gilbert • Year Built: 2006 • APN: 313-15-724, 725 & 726

Listing Details MLS# 5770204

Location, Tax & Legal

Map Code/Grid
T40
House Number
2680
Compass
S
Street Name
VAL VISTA
St Suffix
Drive
City/Town Code
Gilbert
State/Province
AZ
Zip Code
85295
Zip4
1606
Country
US
County Code
Maricopa
Subdivision
SPECTRUM FALLS PROFESSIONAL PARK CONDOMINIUM 3RD A
Assessor Number
313-15-751
Tax Year
2017
Assessor's Map #
15
Legal Description (Abbrev)
SPECTRUM FALLS PROFESSIONAL PARK CONDOMINIUM 3RD AMD MCR 1034-39 UNIT 101 BLDG 12 2680 VAL VISTA BLV
Assessor's Parcel #
751
Add'l Parcels
No
Tax Municipality
Gilbert
Census Tract
815400
Taxes
3010
Legal
SPECTRUM FALLS PROFESSIONAL PARK CONDOMINIUM 3RD AMD MCR 1034-39 UNIT 101 BLDG 12 2680 VAL VISTA BLV

Contract Info

Ownership
Other (See Remarks)

General Property Description

Ttl Apx SqFt Bldg
4913
# of Buildings
Yes
Year Built
2007
Uncvrd Parking Spcs
10
Zoning
GO

Remarks Misc

Cross Street
S Val Vista Dr & E WIlliams Field Rd

Status Change Info

Off Market Date
2018-07-20
Under Contract Date
2018-06-15
Close of Escrow Date
2018-07-20

Legal Info

Township
1S
Range
6E
Section
32
Lot Number
101

More Information

Sold Info

Loan Type
Cash
Payment Type
Other
Clsing Cost Split
Normal - N
Buyer Concession $/%
$
Seller Concession $/%
$
Buyer Concession to Seller
0
Seller Concession to Buyer
0

Construction

Other
Yes

Roofing

Other
Yes

Floors

Other
Yes

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

Other (See Remarks)
Yes

Business Type

Other
Yes
See Remarks
Yes

Stories

1 Story
Yes

Pmt & Rate Info

Down Payment
0
Equity
1200000
Total Owed
0
Assessment Balance
0

Ceiling Height

8.1 Feet to 10 Feet
Yes

Heating

Other
Yes
See Remarks
Yes

Cooling

Other
Yes
See Remarks
Yes

Interior Features

Other (See Remarks)
Yes

Loading Facilities

Other (See Remarks)
Yes

Source of Fincl Data

Other (See Remarks)
Yes

Fencing

Other
Yes
See Remarks
Yes

Water Source

Other
Yes
See Remarks
Yes

Sewer

Other
Yes

Parking Features

Other
Yes

Electric

Other (See Remarks)
Yes

Gas

Other (See Remarks)
Yes

New Financing

Other (See Remarks)
Yes

Existing 1st Loan

Other (See Rmks)
Yes

Existing 1st Loan Type

Not Applicable
Yes

Existing 1st Loan Terms

Not Applicable
Yes

Existing 2nd Loan

Other (See Remarks)
Yes

Existing 2nd Loan Type

Not Applicable
Yes

Existing 2nd Loan Terms

Not Applicable
Yes

Existing 3rd Loan

Other (See Remarks)
Yes

Existing 3rd Loan Type

Not Applicable
Yes

Reports/Disclosures

Other (See Remarks)
Yes

Existing 3rd Loan Terms

Not Applicable
Yes

Environmental

Other (See Remarks)
Yes

Existing Othr Ln Trm

Other (See Remarks)
Yes

Property Features

Building Type: Other (See Remarks) Business Type: Other; See Remarks Stories: 1 Story Construction: Other Roofing: Other Floors: Other Ceiling Height: 8.1 Feet to 10 Feet Heating: Other; See Remarks Cooling: Other; See Remarks Loading Facilities: Other (See Remarks) Interior Features: Other (See Remarks) Fencing: Other; See Remarks Parking Features: Other Electric: Other (See Remarks) Gas: Other (See Remarks) Water Source: Other; See Remarks Sewer: Other New Financing: Other (See Remarks) Source of Fincl Data: Other (See Remarks) Existing 1st Loan: Other (See Rmks) 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: Other (See Remarks) Environmental: Other (See Remarks)
IDX
Listing Office: The Menlo Group Commercial Real Estate
Last Updated: January - 09 - 2025
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