1365 W Iron Springs, Prescott, AZ 86305

$2,325,000

Property Type: Commercial/Indstrial Square Footage: 21,616 Lot Size (sq. ft.): 74,488 Status: Closed

Current Price: $2,325,000 List Date: 4/15/2014 Last Modified: 5/01/2018

Overview

Description

BRAND NEW 6 YEAR LEASE WITH ANCHOR TENANT BIG 5 SPORTING GOODS in 50% of the building. Part of Prescott Towne Center, well located across from Super WalMart. 100% occupied (3% vacancy is a storage area). Four tenants in addition to BIG 5: H&R Block, The Windsock Billiards, Waffle House Restaurant and Biddle Outdoors, all of which have been in the center over 10 years. Corporate lease with BIG 5, 4 option terms with ±10% increases offering great upside to the investment. Well below replacement cost at $111/sf. New roof, parking lot resurfaced spring 2014. DOWNLOAD FLYER.

Listing Details MLS# 977733

ContractAddressLegal

Original List Price: 2400000
Listing Price: 2400000
Street #: 1365
Direction: W
Street Name: Iron Springs
City/Township: Prescott
State: AZ
Zip Code: 86305
County: Yavapai
Tax Parcel: 115-05-067U

General Property Description

Aprx Acres: 1.71
Buildings: Yes
Total Liveable SqFt: 21616
Source of Measuremnt: Owner
Stories: Yes
Floor: Yes
Parking Spaces: 126
Year Built: 1983
Management: Mgmt Company
Vac Rate %: 3
Gross Vol/Yr $: 244284
Cap %: 7.81
CAM $: 2.63
Baths - Full: 5
Property Use: Investment Prop
Construction Status: Existing
CC & R: Yes
CC & R Type: Other - See Remarks
GRM: No

Tax Info

Taxes: 15197
Tax Year: 2013

Status Change Info

Under Contract Date: 2014-08-13
Sold Date: 2014-08-13
Sold Price/SqFt: 108
Financing: Conventional

Heating

Natural Gas: Yes
Zoned: Yes

Contract/Address/Legal

List Price/SqFt: 111
Comm Type: Retail
REO/Short Sale: Not Applicable
Zoning: BG
Business Name: PRESCOTT TOWNE CENTER
Zoning Description: BUSINESS GENERAL
Business Type: RETAIL
Assessor's Book #: 115
Assessor's Map #: 5
Assessor's Parcel #: 67
Assessor Parcel Ltr: U
Legal: AN IRREG PCL SW4 NE4 SW COR APPROX 113' E FROM SEC CTR S29 STR 29 -14-2W CONT 1.71AC

More Information

Remarks & Misc

Directions: Montezuma north, to Whipple west, to Iron Springs Rd.
Remarks: BRAND NEW 6 YEAR LEASE WITH ANCHOR TENANT BIG 5 SPORTING GOODS in 50% of the building. Part of Prescott Towne Center, well located across from Super WalMart. 100% occupied (3% vacancy is a storage area). Four tenants in addition to BIG 5: H&R Block, The Windsock Billiards, Waffle House Restaurant and Biddle Outdoors, all of which have been in the center over 10 years. Corporate lease with BIG 5, 4 option terms with ±10% increases offering great upside to the investment. Well below replacement cost at $111/sf. New roof, parking lot resurfaced spring 2014. DOWNLOAD FLYER.

Office/Member Info

Listing Exclusions: No

Building Type

5+ Units: Yes

Construction

Block/Brick: Yes
Frame - Steel: Yes

Cooling

Central Air: Yes

External Amenities

Handicap Access: Yes
Landscaped: Yes
Paved Parking: Yes

Flooring

Carpet: Yes
Concrete: Yes
Tile: Yes

Possession

Subject to Tenant: Yes

Records Available

Alta Survey: Yes
Phase I: Yes
Site Plan: Yes

Road Responsibility

City: Yes
City Maintained Road: Yes

Roof

Rolled/Hot Mop: Yes
Welded Membrane: Yes

Bathrooms

ADA: Yes
Separate M and W: Yes
Unisex: Yes

Business Location

Freestanding Bldg: Yes

Terms & Conditions

Conventional: Yes

Commercial Amenities

Ceiling Ht. 12-15: Yes
Overhead Door(s): Yes

Utilities Installed

220: Yes
Electricity: Yes
Fire Hydrant: Yes
Individual Meter: Yes
Natural Gas: Yes
Telephone: Yes
Water - City: Yes
WWT - City Sewer: Yes

Internal Amenities

Fire/Smoke Detector: Yes
Security/Alarm: Yes
Sprinklers: Yes

Parking

On-Site: Yes

Property Features

Bathrooms: ADA; Separate M and W; Unisex Building Type: 5+ Units Business Location: Freestanding Bldg Commercial Amenities: Ceiling Ht. 12-15; Overhead Door(s) Construction: Block/Brick; Frame - Steel Cooling: Central Air External Amenities: Handicap Access; Landscaped; Paved Parking Flooring: Carpet; Concrete; Tile Heating: Zoned Internal Amenities: Fire/Smoke Detector; Security/Alarm; Sprinklers Parking: On-Site Possession: Subject to Tenant Records Available: Alta Survey; Phase I; Site Plan Road Responsibility: City Maintained Road Roof: Rolled/Hot Mop; Welded Membrane Utilities Installed: 220; Electricity; Fire Hydrant; Individual Meter; Natural Gas; Telephone; Water - City; WWT - City Sewer

Documents

FLYER ›

Listing Office: Arizona Commercial

Last Updated: May - 01 - 2018

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