4653 S LAKESHORE Drive, Tempe, AZ 85282 (MLS# 6531049)

4653 S LAKESHORE Drive, Tempe, AZ 85282

$830,000

Property Type: Comm/Industry Sale Square Footage: 4,519 Lot Size (sq. ft.): 15,256 Status: Closed

Current Price: $830,000 List Date: 3/13/2023 Last Modified: 10/11/2023

Overview

Description

100% Occupied (2 tenants) Medical Office Investment Offering. The current tenants, BodyWise Chiropractic (Tenant since 2013, lease extends to 9/30/2026)and Vitality Internal Medicine (Tenant since 2011, lease extends to 9/1/2027) are both established medical practices with dedicated clientele and long term occupancy leases within the established and centrally located Lakeshore Gardens professional plaza. Over $100k in recent improvements/Tis have been spent within the subject property in recent years, and a landscaping makeover is about to commence, per owner. The subject building is located within the professionally managed Lakeshore Gardens Professional Plaza, a 5-building condominium project located in the heart of Tempe, Az.

Listing Details MLS# 6531049

Location, Tax & Legal

Map Code/Grid: R37
House Number: 4653
Compass: S
Street Name: LAKESHORE
St Suffix: Drive
City/Town Code: Tempe
State/Province: AZ
Zip Code: 85282
Zip4: 7161
Country: US
County Code: Maricopa
Subdivision: LAKESHORE GARDENS
Assessor Number: 133-38-379
Tax Year: 2022
Assessor's Map #: 38
Legal Description (Abbrev): LOT A LAKESHORE GARDENS MCR 020602
Assessor's Parcel #: 379
Add'l Parcels: No
Tax Municipality: Tempe
Census Tract: 319401
Taxes: 7635
Legal: LOT A LAKESHORE GARDENS MCR 020602

Contract Info

Ownership: Condominium

General Property Description

Ttl Apx SqFt Bldg: 4519
# of Buildings: Yes
Year Built: 1980
Uncvrd Parking Spcs: 10
Zoning: PCC-2

Status Change Info

Off Market Date: 2023-08-30
Under Contract Date: 2023-08-30
Close of Escrow Date: 2023-10-10

Income Expenses

Gross Annual Sch Inc: 90084
Net Operating Income: 58360

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

Owner Association: Yes
Annual Ownr Asoc Fee: 6000
Operating Exp: 13635
Other Income: 0
Vacancy Allowance: 0
Adjusted Gross Inc: 90084

Building Type

Commercial: Yes

Business Type

Dental: Yes
Medical: Yes
Professional/Office: Yes

Stories

1 Story: Yes

Pmt & Rate Info

Cap Rate: 6.5
Equity: 898000
Total Owed: 0

Showing Notification Methods

Text: Yes

Lockbox Type

None: Yes

Ceiling Height

12.1 Feet to 14 Feet: Yes

Heating

See Remarks: Yes

Cooling

Central Air: Yes

Interior Features

Finished: Yes
Private Restrooms: Yes

Loading Facilities

None: Yes

Source of Fincl Data

Owner: Yes

Fencing

None: Yes

Water Source

City Franchise: Yes
Other: Yes

Sewer

Sewer - Public: Yes

Parking Features

Paved: Yes

Electric

Other (See Remarks): Yes

Gas

Other (See Remarks): Yes

New Financing

Cash Only: Yes
Other (See Remarks): Yes

Reports/Disclosures

None: Yes

Environmental

None: Yes

Property Features

Building Type: Commercial Business Type: Dental; Medical; Professional/Office Stories: 1 Story Construction: Other Roofing: Other Floors: Other Ceiling Height: 12.1 Feet to 14 Feet Heating: See Remarks Cooling: Central Air Loading Facilities: None Interior Features: Finished; Private Restrooms Fencing: None Parking Features: Paved Electric: Other (See Remarks) Gas: Other (See Remarks) Water Source: City Franchise; Other Sewer: Sewer - Public New Financing: Cash Only; Other (See Remarks) Showing Notification Methods: Text Lockbox Type: None Source of Fincl Data: Owner Environmental: None

Listing Office: Kidder Mathews

Last Updated: October - 11 - 2023