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
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
More Information MLS# 5520160
Contract Info
Ownership: Condominium
Current Price: $765,637
Sold Price: $765,637
Status: Closed
List Date: 2016-10-17
Location, Tax & Legal
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
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
County Code: Maricopa
Subdivision: WARNER VILLAGE CONDOMINIUMS REPLAT LOTS 2 & 3
Assessor Number: 301-53-233
Tax Year: 2016
General Property Description
Type of Property: Office / Retail Condominium
Ttl Apx SqFt Bldg: 3062
# of Buildings: 1
Uncvrd Parking Spcs: 15
Year Built: 2007
Zoning: PCC-1 Tempe
Legal Info
Range: 4E
Section: 16
Township: 1S
Lot Number: 101
Construction
Stucco: 1
Roofing
Foam: 1
Floors
Wood: 1
Ceramic Tile: 1
Carpet: 1
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: 1
Office: 1
Business Type
Professional/Office: 1
Retail: 1
Stories
1 Story: 1
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: 1
Heating
Heat Pump: 1
Cooling
Heat Pump: 1
Interior Features
Finished: 1
Fire Sprinklers: 1
Smoke Detector(s): 1
Security System: 1
Alarm System: 1
Private Restrooms: 1
Loading Facilities
None: 1
Road Surface Type
Asphalt: 1
Exterior
Sprinkler System-Ground: 1
Landscaping: 1
Building Sign: 1
Sidewalk(s): 1
Security Light(s): 1
Source of Fincl Data
Other (See Remarks): 1
Traffic Count
15,001 to 25,000: 1
Fencing
None: 1
Water Source
Other: 1
See Remarks: 1
Freeway/Highway
Up to 1 Mile: 1
Building Features
Accessible Entrance: 1
Conference Room: 1
Reception Room: 1
Kitchen: 1
LAN Compatible Copr: 1
Sewer
Sewer - Public: 1
Railroad
Other (See Remarks): 1
Parking Features
Free: 1
Parking Lot: 1
Private: 1
Electric
SRP: 1
Gas
Other (See Remarks): 1
New Financing
Cash Only: 1
Existing 1st Loan
Treat as Free&Clear: 1
Existing 1st Loan Type
Not Applicable: 1
Existing 1st Loan Terms
Not Applicable: 1
Existing 2nd Loan
Treat as Free&Clear: 1
Existing 2nd Loan Type
Not Applicable: 1
Existing 2nd Loan Terms
Not Applicable: 1
Existing 3rd Loan
Treat as Free&Clear: 1
Use Restrictions
CC&R's: 1
Existing 3rd Loan Type
Not Applicable: 1
Reports/Disclosures
Other (See Remarks): 1
Existing 3rd Loan Terms
Not Applicable: 1
Environmental
Other (See Remarks): 1
Existing Othr Ln Trm
Other (See Remarks): 1
Sold Info
Loan Type: Cash
Payment Type: Other
Clsing Cost Split: Normal - N
Buyer Concession to Seller: 59363
Buyer Concession $/%: $
Seller Concession to Buyer: 0
Seller Concession $/%: $
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.
Geo Lat: 33.336409
Geo Lon: -111.962706
Status Change Info
Off Market Date: 2017-03-06
Under Contract Date: 2016-12-13
Close of Escrow Date: 2017-03-03
Sold Price: $765,637
Income Expenses
Net Operating Income: 59363
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)
Listing Office:
Realty ONE Group
Last Updated: February - 21 - 2025
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