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

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 $/%: $

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

Office Phone: 480-315-1240

Office Email: ron.copus@realtyonegroup.com

Last Updated: February - 21 - 2025