7154 N 58TH Drive, Glendale, AZ 85301 (MLS# 5378672)

7154 N 58TH Drive, Glendale, AZ 85301

$535,000

Property Type: Comm/Industry Sale Square Footage: 5,700 Lot Size (sq. ft.): 14,000 Status: Closed

Current Price: $535,000 List Date: 1/05/2016 Last Modified: 4/22/2019

Overview

Description

Zoned for “live-work”, this historic beauty is in the heart of the historic Catlin Court walkable shopping district. In fact, it’s the most distinctive building in the area. Originally a church, the building has been most recently used as an attractive event space. It would also be an ideal setting for a restaurant or market. Records have it at 3,049 sq feet, but a full basement brings the actual footage to almost 6,000 sq feet - ample room for a commercial kitchen. It’s had extensive remodeling with new AC’s and copper plumbing, and has five bathrooms! A block away there is new condo development planned. The Westgate entertainment complex, Cardinal’s stadium, Coyotes’ stadium, and new casino are all nearby.

Listing Details MLS# 5378672

Location, Tax & Legal

Map Code/Grid: M31
House Number: 7154
Compass: N
Street Name: 58TH
St Suffix: Drive
City/Town Code: Glendale
State/Province: AZ
Zip Code: 85301
Zip4: 2460
Country: US
County Code: Maricopa
Subdivision: GLENDALE BLKS 26-28 Catlin Court Historic District
Assessor Number: 147-26-031-B
Tax Year: 2015
Assessor's Map #: 26
Legal Description (Abbrev): GLENDALE BLKS 26-28
Assessor's Parcel #: 31
Assessor Parcel Ltr: B
Add'l Parcels: No
Tax Municipality: Glendale
Census Tract: 92500
Taxes: 3764
Legal: GLENDALE AMD PLAT MCR 2-49 LOTS 2 & 3 BLK 3

Contract Info

Ownership: Fee Simple

General Property Description

Ttl Apx SqFt Bldg: 5700
# of Buildings: Yes
Year Built: 1925
Uncvrd Parking Spcs: 5
Zoning: PAD

Remarks Misc

Cross Street: 59th Ave. & Glendale Ave.
Directions: North on 59th Ave, east on Palmaire, north on 58th Dr to property.

Status Change Info

Off Market Date: 2016-04-05
Under Contract Date: 2016-02-09
Close of Escrow Date: 2016-04-30

Legal Info

Township: 2N
Range: 2E
Section: 5
Lot Number: 2

More Information

Income Expenses

Gross Annual Sch Inc: 62400
Net Operating Income: 57408

Sold Info

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

Construction

Brick: Yes

Roofing

Composition: Yes

Floors

Concrete: Yes
Wood: Yes
Ceramic Tile: Yes

Income & Expenses

Annual Elec Exp: 0
Annual Gas Exp: 0
Annual Ins Exp: 1700
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: 3000
Other Income: 2964
Vacancy Allowance: 0.08
Adjusted Gross Inc: 60134.88

Building Type

Commercial: Yes
Other (See Remarks): Yes

Business Type

Mixed: Yes
Service Business: Yes
Restaurant: Yes
Professional/Office: Yes
Retail: Yes

Stories

2 Stories: Yes

Pmt & Rate Info

Cap Rate: 9.6
Down Payment: 0
Equity: 598000
Total Owed: 0
Assessment Balance: 0

Ceiling Height

8.1 Feet to 10 Feet: Yes
12.1 Feet to 14 Feet: Yes

Heating

Heat Pump: Yes

Cooling

Central Air: Yes

Interior Features

Finished: Yes
Fire Sprinklers: Yes
Security Light(s): Yes
Private Restrooms: Yes
Public Restrooms: Yes

Loading Facilities

None: Yes

Road Surface Type

Asphalt: Yes

Exterior

Sprinkler System-Ground: Yes
Landscaping: Yes
Building Sign: Yes
Security Light(s): Yes

Source of Fincl Data

Owner: Yes

Fencing

Other: Yes
See Remarks: Yes

Water Source

City Franchise: Yes

Sewer

Sewer - Public: Yes

Parking Features

Free: Yes
Private: Yes
Paved: Yes

Electric

APS: Yes

Gas

SW Gas: Yes

New Financing

Cash to Loan: Yes
Other (See Remarks): 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

Existing 3rd Loan Type

Not Applicable: Yes

Reports/Disclosures

Seller Prop Disc Stm: Yes

Existing 3rd Loan Terms

Not Applicable: Yes

Environmental

None: Yes

Existing Othr Ln Trm

Not Applicable: Yes

Property Features

Building Type: Commercial; Other (See Remarks) Business Type: Mixed; Service Business; Restaurant; Professional/Office; Retail Stories: 2 Stories Construction: Brick Roofing: Composition Floors: Concrete; Wood; Ceramic Tile Ceiling Height: 8.1 Feet to 10 Feet; 12.1 Feet to 14 Feet Heating: Heat Pump Cooling: Central Air Loading Facilities: None Interior Features: Finished; Fire Sprinklers; Security Light(s); Private Restrooms; Public Restrooms Exterior: Sprinkler System-Ground; Landscaping; Building Sign; Security Light(s) Fencing: Other; See Remarks Parking Features: Free; Private; Paved Electric: APS Gas: SW Gas Water Source: City Franchise Sewer: Sewer - Public New Financing: Cash to Loan; Other (See Remarks) 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 Environmental: None

Listing Office: GPCI AZ

Last Updated: April - 22 - 2019