8285 W UNION HILLS Drive, Glendale, AZ 85308
$5,050,000
Property Type:
Comm/Industry Sale
Square Footage:
9,690
Lot Size (sq. ft.):
56,086
Status:
Closed
Current Price:
$5,050,000
List Date:
3/04/2019
Last Modified:
7/02/2019
Description
Highly sought-after opportunity to purchase this multi-tenant retail strip center shadow anchored by two prominent retail giants, Walmart and Sam's Club. The subject property is comprised of 9,690 square feet, and is currently occupied by four widely known tenants. This property offers premium frontage along W. Union Hills Dr., with close proximity to Arrowhead Towne Center, Peoria Sports Complex, and the Loop 101. The property is surrounded by several big-name retailers which draw customers into the area. This property boasts local, regional, and national tenants, making this an attractive investment with advantageous tenant synergy .
More Information MLS# 5891271
Contract Info
Ownership: Fee Simple
Current Price: $5,050,000
Sold Price: $5,050,000
Status: Closed
List Date: 2019-03-04
Location, Tax & Legal
Assessor's Map #: 43
Legal Description (Abbrev): POR NW4 SEC 35 DAF COM NW COR SD SEC 35 TH E 442.22F TH S 65F TO TPOB TH E 229.55F TO NON-TAN CUR CO
Assessor's Parcel #: 3
Assessor Parcel Ltr: U
Add'l Parcels: No
Tax Municipality: Glendale
Census Tract: 617700
Taxes: 28748
Legal: POR NW4 SEC 35 DAF COM NW COR SD SEC 35 TH E 442.22F TH S 65F TO TPOB TH E 229.55F TO NON-TAN CUR CO
Map Code/Grid: K31
House Number: 8285
Compass: W
Street Name: UNION HILLS
St Suffix: Drive
City/Town Code: Glendale
State/Province: AZ
Zip Code: 85308
Zip4: 0511
County Code: Maricopa
Assessor Number: 200-43-003-U
Tax Year: 2018
General Property Description
Ttl Apx SqFt Bldg: 9690
# of Buildings: 1
Uncvrd Parking Spcs: 49
Year Built: 2005
Zoning: PAD
Legal Info
Range: 1E
Section: 35
Township: 4N
Construction
Block: 1
Roofing
Other: 1
Floors
Vinyl: 1
Ceramic Tile: 1
Carpet: 1
Other: 1
Income & Expenses
Annual Elec Exp: 2098
Annual Gas Exp: 0
Annual Ins Exp: 2950
Annual Land Lse Exp: 0
Annual Landscape Exp: 7200
Annual Legal & Acctg: 0
Annual Maint Exp: 5280
Annual Mgmt Exp: 13525
Annual Trash Exp: 4055
Annual Wtr/Swr Exp: 5946
Owner Association: Yes
Annual Ownr Asoc Fee: 0
Annual PAD Fee: 0
Annual Rplcmnt Rsrvs: 0
Annual Other Expense: 0
Other Income: 0
Vacancy Allowance: 0
Adjusted Gross Inc: 0
Building Type
Commercial: 1
Business Type
Retail: 1
Stories
1 Story: 1
Pmt & Rate Info
Cap Rate: 6.63
Down Payment: 0
Equity: 5200000
Total Owed: 0
Assessment Balance: 0
Ceiling Height
8.1 Feet to 10 Feet: 1
Heating
Electric: 1
Cooling
Central Air: 1
Loading Facilities
None: 1
Interior
Finished to Suit: 1
Fire Sprinklers: 1
Roads/Streets
Asphalt: 1
Exterior
Corner Lot: 1
Source of Fincl Data
Unknown: 1
Traffic Count
25,001 to 35,000: 1
Fencing
None: 1
Water Source
City Franchise: 1
Freeway/Highway
Up to 1 Mile: 1
Sewer
Sewer - Public: 1
Parking Features
Paved: 1
Electric
Other (See Remarks): 1
Gas
Other (See Remarks): 1
New Financing
Other (See Remarks): 1
Existing 1st Loan
Treat as Free&Clear: 1
Existing 1st Ln Type
Not Applicable: 1
Existing 1st Ln Trms
Not Applicable: 1
Existing 2nd Loan
Treat as Free&Clear: 1
Existing 2nd Ln Type
Not Applicable: 1
Existing 2nd Ln Trms
Not Applicable: 1
Existing 3rd Loan
Treat as Free&Clear: 1
Existing 3rd Ln Type
Not Applicable: 1
Reports/Disclosures
None: 1
Existing 3rd Ln Trms
Not Applicable: 1
Environmental
None: 1
Existing Othr Ln Trm
Not Applicable: 1
Sold Info
Loan Type: Cash
Payment Type: Other
Clsing Cost Split: Normal - N
Buyer Concession to Seller: 0
Buyer Concession $/%: $
Seller Concession to Buyer: 0
Seller Concession $/%: $
Remarks Misc
Cross Street: N. 83rd Ave. and W. Union Hills Dr.
Directions: Loop 101 to W. Union Hills Dr., head West. The property is on the corner of W. Union Hills Dr., and N. 83rd Ave., on the South side of the road.
Geo Lat: 33.652219
Geo Lon: -112.235917
Status Change Info
Off Market Date: 2019-05-10
Under Contract Date: 2019-05-03
Close of Escrow Date: 2019-07-01
Sold Price: $5,050,000
Income Expenses
Net Operating Income: 344984
Property Features
Building Type: Commercial
Business Type: Retail
Stories: 1 Story
Construction: Block
Roofing: Other
Floors: Vinyl; Ceramic Tile; Carpet; Other
Ceiling Height: 8.1 Feet to 10 Feet
Cooling: Central Air
Loading Facilities: None
Interior: Finished to Suit; Fire Sprinklers
Exterior: Corner Lot
Fencing: None
Parking Features: Paved
Electric: Other (See Remarks)
Gas: Other (See Remarks)
Water Source: City Franchise
Sewer: Sewer - Public
New Financing: Other (See Remarks)
Source of Fincl Data: Unknown
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
Traffic Count: 25,001 to 35,000
Environmental: None
Listing Office: R.O.I. Properties
Last Updated: July - 02 - 2019
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