$1,800,000
Glendale, AZ 85308
MLS# 5039834
Status: Closed
1 / 1
Property Description
9% Cap rate. First Time on the market. This property has been 100% occupied since 2010 by a Dental University with over $400K in Tenant Improvements, as a dental office/student practical lab. 10 operatories, 4 wet labs, 2 private offices, X-Ray room, conference room. ATSU has been in operation since 1892. This is an absolute NNN lease with 2.5% increases per year. Tenant has high credit rating.
Details
Maps
Contract Info
Current Price: $1,800,000
Sold Price: $1,800,000
Status: Closed
List Date: 2013-12-06
Ownership: Fee Simple
Subagents: N
Buyer/Broker: Y
Buyer Broker $/%: %
Location, Tax & Legal
Map Code/Grid: J32
House Number: 20325
Compass: N
Street Name: 51ST
St Suffix: Avenue
Unit #: 150
City/Town Code: Glendale
State/Province: AZ
Zip Code: 85308
Zip4: 4622
Country: USA
County Code: Maricopa
Legal Description (Abbrev): ARROWHEAD OFFICE SUITES CONDOMINIUM
Subdivision: Arrowhead Office Condos
Assessor's Map #: 29
Assessor's Parcel #: 33
Add'l Parcels: No
Assessor Number: 206-29-033
Census Tract: 614300
Legal: ARROWHEAD OFFICE SUITES CONDOMINIUM MCR 817-40 UNIT 150 (PLEASE N
Tax Municipality: Glendale
Taxes: 3664
Tax Year: 2013
General Property Description
Ttl Apx SqFt Bldg: 6650
# of Buildings: 1
Year Built: 2006
Uncvrd Parking Spcs: 8
Zoning: c2
Remarks & Misc
Cross Street: 101 Freeway/ 51st Ave
Directions: North on 51st Ave, Building on NEC of the complex.
Geo Lat: 33.670546
Geo Lon: -112.167545
Status Change Info
Status Change Date: 2014-04-19
Off Market Date: 2014-04-08
Under Contract Date: 2014-03-18
Close of Escrow Date: 2014-04-18
Sold Price: $1,800,000
Legal Info
Township: 4N
Range: 2E
Section: 21
Lot Number: 150
Income & Expenses
Owner Association: Yes
Operating Exp: 3664
Net Operating Income: 178784
Pmt & Rate Info
Cap Rate: 9.17
Equity: 1950000
Avg Rent P/SqFt: 26.92
Sold Info
Loan Type: Cash
Payment Type: Other
Clsing Cost Split: Normal - N
Buyer Concession $/%: $
Seller Concession $/%: $
Property Features
Building Type: Office
Current Use: Medical/Dental
Stories: 1 Story
Construction: Stucco
Roofing: Tile
Floors: Concrete
Ceiling Height: 8.1 Feet to 10 Feet
Heating: Other; See Remarks
Cooling: Central A/C
Loading Facilities: None
Interior: Finished
Exterior: Building Sign
Fencing: None
Parking: Free
Electric: Other (See Remarks)
Gas: Other (See Remarks)
Water: City Franchise
Sewer: Sewer - Public
Freeway/Highway: Frontage
Railroad: Other (See Remarks)
Source of Fincl Data: Provided by Owner
Existing 1st Loan: Treat as Free&Clear
Existing 1st Ln Type: Not Applicable
Existing 1st Ln Trms: Not Applicable
Existing 2nd Loan: Treat as Free&Clear
Existing 2nd Ln Type: Not Applicable
Existing 2nd Ln Trms: Not Applicable
Existing 3rd Loan: Treat as Free&Clear
Existing 3rd Ln Type: Not Applicable
Existing 3rd Ln Trms: Not Applicable
Existing Othr Ln Trm: Not Applicable
Roads/Streets: Dedicated Street
Reports/Disclosures: None
Use Restrictions: CC&R's
Environmental: None
Listing Office: RE/MAX Excalibur
Last Updated: August - 06 - 2021
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