2730 S VAL VISTA Drive Bldg 3, Gilbert, AZ 85295

$728,019
Property Type: Comm/Industry Sale Square Footage: 4,913 Lot Size (sq. ft.): 4,913 Status: Closed
Current Price: $728,019 List Date: 12/23/2010 Last Modified: 5/23/2020

Overview

Description

2 Class A office/medical condominiums for sale individually or together as a portfolio. Building 3 is fully leased with a cap rate of 13.4% and NOI of $103,745/year. Building 6 is 25% occupied. SF available from 4,913 SF to 10,355 SF. Both within a 150,000 SF project. Parking: 5.5:1,000 SF. Close proximity to Mercy Gilbert Medical Center, San Tan Village Power Center and other quality retail restaurant amenities. (REF GPE3455)

Listing Details MLS# 4511303

Location, Tax & Legal

Map Code/Grid
T40
House Number
2730
Compass
S
Street Name
VAL VISTA
St Suffix
Drive
City/Town Code
Gilbert
State/Province
AZ
Zip Code
85295
Zip4
1676
Country
US
County Code
Maricopa
Subdivision
Spectrum Falls Professional Condominium 3rd A
Assessor Number
313-15-647
Tax Year
2010
Unit #
Bldg 3
Building Number
3
Assessor's Map #
15
Legal Description (Abbrev)
SPECTRUM FALLS PROFESSIONAL PARK CONDOMINIUM 3RD A
Assessor's Parcel #
647
Add'l Parcels
Yes
Tax Municipality
Gilbert
Census Tract
522745
Taxes
17670.02
Legal
SPECTRUM FALLS PROFESSIONAL PARK CONDOMINIUM 3RD AMD MCR 1034-39
Marketing Name
SPECTRUM FALLS PROF PK

Contract Info

Ownership
Condominium

General Property Description

Type of Property
Office
Ttl Apx SqFt Bldg
4913
Ttl Apx Net Rnt Spc
4913
# of Buildings
Yes
Year Built
2006
Uncvrd Parking Spcs
22
Zoning
GO

Remarks Misc

Cross Street
NEC Frye Rd. & S Val Vista Dr.
Directions
Loop 202 (Santan Freeway) to S. Val Vista Drive north.

Status Change Info

Off Market Date
2011-07-07
Under Contract Date
2011-05-01
Close of Escrow Date
2011-07-01

Legal Info

Township
1S
Range
6E
Section
32
Lot Number
101

More Information

Income Expenses

Net Operating Income
103745

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

Block
Yes
Tilt-Up
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
Yes
Annual Ownr Asoc Fee
0
Annual PAD Fee
0
Annual Rplcmnt Rsrvs
0
Annual Other Expense
0
Operating Exp
17670.02
Other Income
0
Vacancy Allowance
0
Adjusted Gross Inc
0

Building Type

Commercial
Yes
Office
Yes

Business Type

Dental
Yes
Mixed
Yes
Medical
Yes

Stories

1 Story
Yes

Pmt & Rate Info

Cap Rate
13.4
Down Payment
0
Equity
774000
Total Owed
0
Assessment Balance
0

Ceiling Height

8.1 Feet to 10 Feet
Yes

Heating

Electric
Yes

Cooling

Office A/C
Yes

Interior Features

Finished
Yes

Loading Facilities

None
Yes

Road Surface Type

Asphalt
Yes

Exterior

Curb(s) & Gutter(s)
Yes
Sidewalk(s)
Yes

Source of Fincl Data

Owner
Yes

Fencing

Partial
Yes

Water Source

City Franchise
Yes

Sewer

Sewer - Public
Yes

Parking Features

Free
Yes
Private
Yes
Paved
Yes

Electric

SRP
Yes

Gas

Other (See Remarks)
Yes

New Financing

Cash Only
Yes
Cash to Loan
Yes

Special

REO Property
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

Use Restrictions

CC&R's
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

Not Applicable
Yes

Property Features

Building Type: Commercial; Office Business Type: Dental; Mixed; Medical Stories: 1 Story Construction: Block; Tilt-Up Roofing: Other Floors: Other Ceiling Height: 8.1 Feet to 10 Feet Cooling: Office A/C Loading Facilities: None Interior Features: Finished Exterior: Curb(s) & Gutter(s); Sidewalk(s) Fencing: Partial Parking Features: Free; Private; Paved Electric: SRP Gas: Other (See Remarks) Water Source: City Franchise Sewer: Sewer - Public New Financing: Cash Only; Cash to Loan Special: REO Property 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 Road Surface Type: Asphalt Use Restrictions: CC&R's Environmental: Other (See Remarks)
IDX
Listing Office: Avison Young
Last Updated: May - 23 - 2020
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