4325 S 48th Street, Tempe, AZ 85282 (MLS# 6851451)

4325 S 48th Street, Tempe, AZ 85282

$1,900,000

Property Type: Comm/Industry Sale Square Footage: 9,657 Lot Size (sq. ft.): 39,857 Status: Closed

Current Price: $1,900,000 List Date: 5/12/2025 Last Modified: 5/16/2025

Description

The Vineyard Plaza at 4325 S 48th Street is a fully occupied strip center in the thriving Tempe submarket. Tenants are paying rents averaging 22% below market, presenting strong value-add potential and future rent growth. Offered well below replacement cost at a 7% in-place cap rate, this multi-tenant center is surrounded by new developments and offers easy access to the 60, 10, and 143 Highways.

More Information MLS# 6851451

Contract Info

Ownership: Fee Simple Current Price: $1,900,000 Sold Price: $1,900,000 Status: Closed List Date: 2025-03-20

Location, Tax & Legal

Building Number: 104 Assessor's Map #: 27 Legal Description (Abbrev): KNOELL GARDEN GROVES UNIT THREE MCR 186-16 Assessor's Parcel #: 354 Add'l Parcels: No Tax Municipality: Tempe Census Tract: 319703 Taxes: 21370 Legal: KNOELL GARDEN GROVES UNIT THREE MCR 186-16 House Number: 4325 Compass: S Street Name: 48th St Suffix: Street City/Town Code: Tempe State/Province: AZ Zip Code: 85282 County Code: Maricopa Subdivision: KNOELL GARDEN GROVES UNIT 3 Assessor Number: 123-27-354 Tax Year: 2023

General Property Description

Type of Property: Retail Ttl Apx SqFt Bldg: 9657 Ttl Apx Net Rnt Spc: 1200 # of Buildings: 1 Uncvrd Parking Spcs: 0 Lot Size Dimensions: 297.62 x 160.22 x 238.56 x 28.2 x 136.23 Year Built: 1988 Zoning: CSS

Legal Info

Range: 4E Section: 32 Township: 1N Lot Number: TRACT A

Construction

Block: 1

Roofing

Built-Up: 1

Floors

Concrete: 1

Income & Expenses

Owner Association: No Annual Ownr Asoc Fee: 0 Other Income: 0 Vacancy Allowance: 0 Adjusted Gross Inc: 0

Building Type

Commercial: 1 Other (See Remarks): 1

Business Type

Mixed: 1 Retail: 1 Other: 1

Stories

1 Story: 1

Pmt & Rate Info

Equity: 1950000 Total Owed: 0

Showing Notification Methods

Showing Service: No Showing Service Used Text: 1 Email: 1 Phone Call: 1 No Notification Required to Show: 1

Lockbox Type

None: 1

Ceiling Height

8.1 Feet to 10 Feet: 1

Heating

Electric: 1

Cooling

Central Air: 1

Interior Features

Finished: 1 Finished to Suit: 1

Loading Facilities

None: 1

Road Surface Type

Gravel: 1

Exterior

Corner Lot: 1 Dual Street Ftg: 1 Roof Sign: 1 Building Sign: 1

Source of Fincl Data

Owner: 1 Other (See Remarks): 1

Fencing

None: 1

Water Source

City Franchise: 1

Sewer

Sewer - Public: 1

Parking Features

Free: 1

Electric

SRP: 1

Gas

City Gas: 1

New Financing

Cash Only: 1 Cash to Loan: 1 Owner May Carry: 1 Other (See Remarks): 1

Existing 1st Loan

Treat as Free&Clear: 1

Existing 2nd Loan

Treat as Free&Clear: 1

Existing 3rd Loan

Treat as Free&Clear: 1

Reports/Disclosures

None: 1 Other (See Remarks): 1

Environmental

None: 1 Other (See Remarks): 1

Sold Info

Loan Type: Other 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: S 48th St and E Southern Ave Directions: Head east on your current road, turn right onto S 48th St, continue for 1 mile, then turn left onto S 48th Pl. The destination, 4325 S 48th Pl, will be on your left. Geo Lat: 33.385897 Geo Lon: -111.977917

Status Change Info

Off Market Date: 2025-05-12 Under Contract Date: 2025-04-21 Close of Escrow Date: 2025-05-16 Sold Price: $1,900,000

Property Features

Building Type: Commercial; Other (See Remarks) Business Type: Mixed; Retail; Other Stories: 1 Story Construction: Block Roofing: Built-Up Floors: Concrete Ceiling Height: 8.1 Feet to 10 Feet Cooling: Central Air Loading Facilities: None Interior Features: Finished; Finished to Suit Exterior: Corner Lot; Dual Street Ftg; Roof Sign; Building Sign Fencing: None Parking Features: Free Electric: SRP Gas: City Gas Water Source: City Franchise Sewer: Sewer - Public New Financing: Cash Only; Cash to Loan; Owner May Carry; Other (See Remarks) Showing Notification Methods: Text; Email; Phone Call; No Notification Required to Show Lockbox Type: None Source of Fincl Data: Owner; Other (See Remarks) Existing 1st Loan: Treat as Free&Clear Existing 2nd Loan: Treat as Free&Clear Existing 3rd Loan: Treat as Free&Clear Road Surface Type: Gravel Environmental: None; Other (See Remarks)

Listing Office: R.O.I. Properties

Last Updated: May - 16 - 2025