8601 S PRIEST Drive 101, Tempe, AZ 85284

$765,637
Property Type: Comm/Industry Sale Square Footage: 3,062 Lot Size (sq. ft.): 3,062 Status: Closed
Current Price: $765,637 List Date: 11/03/2016 Last Modified: 2/21/2025

Overview

Description

INVESTMENT SALE WITH HIGH-QUALITY INCOME! Built-out office condominium for sale with owner (insurance agent) to lease back (NNN) with 5-year term upon sale. The property combines high-end finishes with cleverly designed, multi-tenant capabilities, incorporating shared elements, such as conference room, restrooms, and a kitchen/break room. Main suite has 8 offices + reception, and adjoining suite has one private office + reception. Highlights: · High-end finishes throughout · High quality income stream · 5-year, $19.40 NNN lease (7% cap rate) · Cleverly built-out with shared elements for multi-tenant occupancy · Multiple entrances · Priest Road visibility · Numerous retail amenities in center and surrounding area · Covered parking

Listing Details MLS# 5520160

Location, Tax & Legal

Map Code/Grid
S36
House Number
8601
Compass
S
Street Name
PRIEST
St Suffix
Drive
City/Town Code
Tempe
State/Province
AZ
Zip Code
85284
Zip4
1919
Country
US
County Code
Maricopa
Subdivision
WARNER VILLAGE CONDOMINIUMS REPLAT LOTS 2 & 3
Assessor Number
301-53-233
Tax Year
2016
Unit #
101
Assessor's Map #
53
Legal Description (Abbrev)
WARNER VILLAGE CONDOMINIUMS REPLAT LOTS 2 & 3 MCR 858-10 UNIT 101 BLDG G (PLEASE NOTE: FOR LEGAL DES
Assessor's Parcel #
233
Add'l Parcels
No
Tax Municipality
Tempe
Census Tract
319910
Taxes
5652
Legal
WARNER VILLAGE CONDOMINIUMS REPLAT LOTS 2 & 3 MCR 858-10 UNIT 101 BLDG G (PLEASE NOTE: FOR LEGAL DES
Marketing Name
Warner Village

Contract Info

Ownership
Condominium

General Property Description

Type of Property
Office / Retail Condominium
Ttl Apx SqFt Bldg
3062
# of Buildings
Yes
Year Built
2007
Uncvrd Parking Spcs
15
Zoning
PCC-1 Tempe

Remarks Misc

Directions
Warner Village is conveniently located at the NE corner of Warner and Priest Roads, approximately ½ mile from Interstate 10, and in the South Tempe / Ahwatukee trade area.

Status Change Info

Off Market Date
2017-03-06
Under Contract Date
2016-12-13
Close of Escrow Date
2017-03-03

Legal Info

Township
1S
Range
4E
Section
16
Lot Number
101

More Information

Income Expenses

Net Operating Income
59363

Sold Info

Loan Type
Cash
Payment Type
Other
Clsing Cost Split
Normal - N
Buyer Concession to Seller
59363
Buyer Concession $/%
$
Seller Concession $/%
$
Seller Concession to Buyer
0

Construction

Stucco
Yes

Roofing

Foam
Yes

Floors

Wood
Yes
Ceramic Tile
Yes
Carpet
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
6480
Annual PAD Fee
0
Annual Rplcmnt Rsrvs
0
Annual Other Expense
1700
Operating Exp
13832
Other Income
0
Vacancy Allowance
0
Adjusted Gross Inc
0

Building Type

Commercial
Yes
Office
Yes

Business Type

Professional/Office
Yes
Retail
Yes

Stories

1 Story
Yes

Pmt & Rate Info

Cap Rate
7
Down Payment
0
Equity
848000
Total Owed
0
Assessment Balance
0

Ceiling Height

10.1 Feet to 12 Feet
Yes

Heating

Heat Pump
Yes

Cooling

Heat Pump
Yes

Interior Features

Finished
Yes
Fire Sprinklers
Yes
Smoke Detector(s)
Yes
Security System
Yes
Alarm System
Yes
Private Restrooms
Yes

Loading Facilities

None
Yes

Road Surface Type

Asphalt
Yes

Exterior

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

Source of Fincl Data

Other (See Remarks)
Yes

Traffic Count

15,001 to 25,000
Yes

Fencing

None
Yes

Water Source

Other
Yes
See Remarks
Yes

Freeway/Highway

Up to 1 Mile
Yes

Building Features

Accessible Entrance
Yes
Conference Room
Yes
Reception Room
Yes
Kitchen
Yes
LAN Compatible Copr
Yes

Sewer

Sewer - Public
Yes

Railroad

Other (See Remarks)
Yes

Parking Features

Free
Yes
Parking Lot
Yes
Private
Yes

Electric

SRP
Yes

Gas

Other (See Remarks)
Yes

New Financing

Cash Only
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

Other (See Remarks)
Yes

Property Features

Building Type: Commercial; Office Business Type: Professional/Office; Retail Stories: 1 Story Construction: Stucco Roofing: Foam Floors: Wood; Ceramic Tile; Carpet Ceiling Height: 10.1 Feet to 12 Feet Heating: Heat Pump Cooling: Heat Pump Loading Facilities: None Interior Features: Finished; Fire Sprinklers; Smoke Detector(s); Security System; Alarm System; Private Restrooms Exterior: Sprinkler System-Ground; Landscaping; Building Sign; Sidewalk(s); Security Light(s) Fencing: None Building Features: Accessible Entrance; Conference Room; Reception Room; Kitchen; LAN Compatible Copr Parking Features: Free; Parking Lot; Private Electric: SRP Gas: Other (See Remarks) Water Source: Other; See Remarks Sewer: Sewer - Public Railroad: Other (See Remarks) New Financing: Cash Only Source of Fincl Data: Other (See Remarks) 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: Other (See Remarks) Road Surface Type: Asphalt Traffic Count: 15,001 to 25,000 Use Restrictions: CC&R's Environmental: Other (See Remarks)
IDX
Listing Office: Realty ONE Group
Last Updated: February - 21 - 2025
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