505 W UNIVERSITY Drive, Tempe, AZ 85281

$890,000
Property Type: Comm/Industry Sale Square Footage: 2,719 Lot Size (sq. ft.): 11,625 Status: Closed
Current Price: $890,000 List Date: 5/16/2017 Last Modified: 8/06/2021

Overview

Description

.27 Acre Retail Redevelopment Opportunity on University Drive in close proximity to Mill Avenue and ASU's Main Campus. Existing building is 2,718 SF last used as nonprofit group home and office. CHAPTER 11 BANKRUPTCY TRUSTEE TO SELL PROPERTY***CURRENT OFFER $890,000 WILL BE SUBJECT TO HIGHEST AND BEST BID AT COURT HEARING TO APPROVE SALE***COURT DATE 8/22/2017 @ 11:00 A.M. @ US BANKRUPTCY COURT 230 N 1ST AVE PHX 85003 -COURTROOM 601 JUDGE PAUL SALA***TO BID MUST REGISTER WITH CO-LISTING AGENT ON OR BEFORE 5:00 P.M. THREE DAYS BEFORE THE HEARING AND SUBMIT CASH DEPOSIT OF $10,000 TO ESCROW AGENT*** POTENTIAL BIDDERS MUST BE AT THE COURTHOUSE BY 10:45 A.M. (15 min before hearing).

Listing Details MLS# 5606225

Location, Tax & Legal

Map Code/Grid
R36
House Number
505
Compass
W
Street Name
UNIVERSITY
St Suffix
Drive
City/Town Code
Tempe
State/Province
AZ
Zip Code
85281
Zip4
8265
Country
US
County Code
Maricopa
Subdivision
GOODWIN HOMES
Assessor Number
124-69-045
Tax Year
2016
Assessor's Map #
69
Legal Description (Abbrev)
LOT 1 BLOCK 2 GOODWIN HOMES MCR 000714
Assessor's Parcel #
45
Add'l Parcels
No
Tax Municipality
Maricopa - COUNTY
Census Tract
318900
Taxes
0
Legal
LOT 1 BLOCK 2 GOODWIN HOMES MCR 000714

Contract Info

Ownership
Fee Simple

General Property Description

Ttl Apx SqFt Bldg
2719
# of Buildings
Yes
Year Built
1979
Uncvrd Parking Spcs
15
Zoning
CSS

Remarks Misc

Cross Street
W University Dr & S Wilson St

Status Change Info

Off Market Date
2017-08-29
Under Contract Date
2017-06-13
Close of Escrow Date
2017-08-29

Legal Info

Township
1N
Range
4E
Section
21
Lot Number
Yes

More Information

Income Expenses

Gross Annual Sch Inc
Yes
Net Operating Income
Yes

Contact Info

List Agent Home Phn
602-319-1326

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

Stucco
Yes
Other
Yes

Roofing

Other
Yes

Floors

Vinyl
Yes
Carpet
Yes
Other
Yes

Income & Expenses

Annual Elec Exp
1
Annual Gas Exp
1
Annual Ins Exp
1
Annual Land Lse Exp
1
Annual Landscape Exp
1
Annual Legal & Acctg
1
Annual Maint Exp
1
Annual Mgmt Exp
1
Annual Trash Exp
1
Annual Wtr/Swr Exp
1
Owner Association
No
Annual Ownr Asoc Fee
1
Annual PAD Fee
1
Annual Rplcmnt Rsrvs
1
Annual Other Expense
1
Operating Exp
14
Other Income
1
Vacancy Allowance
1
Adjusted Gross Inc
0

Building Type

Commercial
Yes

Business Type

Professional/Office
Yes
Retail
Yes
Other
Yes
See Remarks
Yes

Stories

1 Story
Yes

Pmt & Rate Info

Down Payment
1
Equity
875000
Total Owed
0
Assessment Balance
1
Assessment Bal Yrs
Yes

Ceiling Height

8.1 Feet to 10 Feet
Yes

Heating

Other
Yes
See Remarks
Yes

Cooling

Central Air
Yes
Other
Yes
See Remarks
Yes

Interior Features

Finished
Yes

Loading Facilities

None
Yes

Source of Fincl Data

Other (See Remarks)
Yes

Fencing

None
Yes

Water Source

Other
Yes
See Remarks
Yes

Sewer

Other
Yes

Parking Features

Private
Yes
Paved
Yes
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

None
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 Business Type: Professional/Office; Retail; Other; See Remarks Stories: 1 Story Construction: Stucco; Other Roofing: Other Floors: Vinyl; Carpet; Other Ceiling Height: 8.1 Feet to 10 Feet Heating: Other; See Remarks Cooling: Central Air; Other; See Remarks Loading Facilities: None Interior Features: Finished Fencing: None Parking Features: Private; Paved; 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: Not Applicable Environmental: Other (See Remarks)
IDX
Listing Office: R.O.I. Properties
Last Updated: August - 06 - 2021
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