$1,500,000
Rio Rico, AZ 85648
MLS# 21125082
Status: Closed
14495 sqft
1 / 5
Property Description
Modern, 1-story masonry Office/Medical/Retail bldg w/approx. 14800sf rentable space. 95% leased. Gross over $200K annual. Cap Rate 8.5%. Excellent condition, well managed. Paved, lighted parking for 75+ cars. Front and rear vehicle access. Next to I-19 freeway and Rio Rico post office. Quality TIs and tenants.
Details
Maps
Address Information
Country: USA
Street #: 1103
Street Name: Circulo Mercado
State/Province: AZ
Zip Code: 85648
County: Santa Cruz
Location, Tax & Legal
Tax Year: 2009
Taxes: 37557.02
Assessments: 0
Legal Description: Sub Rio Rico Unit 7 Blk 708 Lots 16, 17, 18 & 19
Municipality/Zoning: Other - CB2
Fire Protection: Included in Taxes
Tax Code: 114-50-055
Area: Santa Cruz
Status Change Info
Off Market Date: 2012-05-17
Sold Price/SqFt: 103.48
Lot Sz Sold Prc/SqFt: 28.24
Financing: Cash to Loan
Pending Date: 2012-04-15
Sold Date: 2012-07-27
Sold Price: $1,500,000
Showing Information
Directions: South on I-19 to Exit 17 (Yavapai/Rio Rico), R on W. Frontage Rd. 1/2 mile to Circulo Mercao and property.
General Property Information
# Units: 8
Lot Dimensions: 1.22 Acres
Lot Acres: 1.22
Lot Sqft: 53114
Lot Size Source: Assessor
Source of SqFt: Assessor
List Price/SqFt: 116.94
Lot Size Price/SqFt: 31.91
Year Built: 2005
Combined SqFt: 14495
Electric
3 Phase Power: Yes
Amps: 220
Income
Vacancy Loss: 10200
Adjusted Gross: 197400
Total Expenses: 56440.47
Gross Scheduled Rent: 207600
Net Opp Income: 140959.52
Analysis
Gross Rent Multi: 8.58
Vacancy Rate %: 4.91
Exp/SqFt: 3.89
Exp % of Gross: 28.59
Cap Rate %: 8.31
Construction
Masonry Stucco: 1
Expenses
Admin Expenses: 2548.46
Captial Expenses: 1000
CAM in Rent: 1
Contract Services: 2000
Figures Presented: Actual
Gas/Electric: 2110.6
Insurance: 1400
Maintenance Supplies: 5066
Management: 3600
Resident Manager: 0
Taxes/Assessments: 37557.02
Water/Sewer: 1158.4
Other Expenses: 0
Sewer
Connected: 1
Water
Public: 1
Property Features
A.D.A. Compliant: Yes
Phase 1 Report: Yes
# Grade Doors: 7
Main Cooling
Zoned: 1
Main Heating
Heat Pump: 1
Terms
Cash: 1
Conventional: 1
Exchange: 1
Owner Carry: 1
Submit: 1
Sold Info
Est. Closing Date: 2012-07-27
Property Disclosures
Unknown: 1
Contract Information
Current Price: $1,500,000
Sold Price: $1,500,000
Listing Date: 2011-09-03
Status: Closed
Remarks Misc
Geo Lat: 31.473138
Geo Lon: -111.000321
Property Features
Expenses: CAM in Rent
Construction: Masonry Stucco
Main Cooling: Zoned
Main Heating: Heat Pump
Sewer: Connected
Water: Public
Terms: Cash; Conventional; Exchange; Owner Carry; Submit
Property Disclosures: Unknown
Listing Office: Paul F. Elders
Last Updated: December - 06 - 2024
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