15610 N SCOTTSDALE Road, Scottsdale, AZ 85254
$11,000,000
Property Type:
Comm/Industry Sale
Square Footage:
16,049
Lot Size (sq. ft.):
41,250
Status:
Closed
Current Price:
$11,000,000
List Date:
7/14/2021
Last Modified:
2/16/2023
Description
Bassett Furniture Corporate NNN Lease with Rare Annual Increases. Currently in year 5 of 10 yr lease with two 5 year options. Limited Landlord Responsibilities. Beautiful building with all AC's replaced in 2017. This site is within 1 mile of multiple premium high end outdoor shopping centers including Scottsdale Quarter (400,000 SF), Kierland Commons (437,000SF) and the Promenade (569,000SF), further increasing consumer draw to the subject property and promoting crossover traffic to the site. Easy access to Scottsdale Airport, one of the top 25 FBO's in the nation.
More Information MLS# 6264086
Contract Info
Current Price: $11,000,000
Sold Price: $11,000,000
Status: Closed
List Date: 2021-06-13
Ownership: Fee Simple
Subagents: N
Buyer/Broker: Y
Buyer Broker $/%: %
Location, Tax & Legal
Map Code/Grid: L37
House Number: 15610
Compass: N
Street Name: SCOTTSDALE
St Suffix: Road
City/Town Code: Scottsdale
State/Province: AZ
Zip Code: 85254
Zip4: 2124
Country: USA
County Code: Maricopa
Legal Description (Abbrev): LOT 4B4 KIERLAND PARCEL 6A MCR 044339
Subdivision: KIERLAND PARCEL 6A
Assessor's Map #: 42
Assessor's Parcel #: 12
Add'l Parcels: No
Assessor Number: 215-42-012
Census Tract: 103219
Legal: LOT 4B4 KIERLAND PARCEL 6A MCR 044339
Tax Municipality: Phoenix
Taxes: 38537
Tax Year: 2020
General Property Description
Ttl Apx SqFt Bldg: 16049
Ttl Apx Net Rnt Spc: 16049
# of Buildings: 1
Year Built: 1999
Uncvrd Parking Spcs: 34
Zoning: C2
Remarks & Misc
Cross Street: SCOTTSDALE / FRANK LLOYD WRIGHT BLVD
Directions: SOUTH ON SCOTTSDALE ROAD APPROX 1 MILE TO BUILDING ON RIGHT.
Geo Lat: 33.628004
Geo Lon: -111.926306
Status Change Info
Status Change Date: 2021-12-17
Off Market Date: 2021-11-12
Under Contract Date: 2021-11-11
Close of Escrow Date: 2021-12-15
Sold Price: $11,000,000
Legal Info
Township: 3N
Range: 4E
Section: 3
Lot Number: 4B4
Bay Info
# of Bays: 1
# of Bay Doors: 1
Bay Door Height: 12
Income & Expenses
Owner Association: Yes
Annual Ownr Asoc Fee: 400
Operating Exp: 38937
Gross Annual Sch Inc: 571524
Other Income: 3500
Adjusted Gross Inc: 575024
Net Operating Income: 571524
Pmt & Rate Info
Cap Rate: 5.2
Equity: 11000000
Sold Info
Loan Type: Other
Payment Type: Other
Clsing Cost Split: Normal - N
Buyer Concession $/%: $
Seller Concession $/%: $
Property Features
Building Type: Commercial
Current Use: Retail
Stories: 1 Story
Construction: Block
Roofing: Built-Up
Floors: Concrete; Wood; Ceramic Tile; Carpet
Ceiling Height: 14.1 Feet to 16 Feet
Cooling: Central A/C; Office A/C
Loading Facilities: Grade Level
Interior: Finished; Fire Sprinklers; Public Restrooms
Exterior: Building Sign; Monument Sign
Fencing: None
Amenities: Showroom
Parking: Public Parking; Private Parking; Paved Parking
Electric: APS
Gas: None
Water: City Franchise
Sewer: Sewer - Public
Freeway/Highway: 2.1 - 5 Miles
Showing Notification Methods: Phone Call
Lockbox Type: None
Source of Fincl Data: Provided by Owner
Existing 1st Loan: Treat as Free&Clear
Existing 1st Ln Trms: Not Applicable
Roads/Streets: Asphalt
Traffic Count: 35,001 to 50,000
Reports/Disclosures: None
Use Restrictions: Currently Leased
Environmental: None
Listing Office: West USA Realty
Last Updated: February - 16 - 2023
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