2301 w. indian school rd....k-momo store 10,000 2010 2018 $108,000 16.39 $10.80 k-momo warehouse...
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SVN | Desert Commercial Advisors | 5343 N. 16th Street, Suite 100, Phoenix, AZ 85016 OFFERING MEMORANDUM
2301 W. INDIANSCHOOL RD.OFFERING MEMORANDUM
Jonathan [email protected]
Justin HorwitzSenior [email protected]
Paul Borgesen [email protected]
2301 W. INDIAN SCHOOL RD. PHOENIX, AZ 85015 SVN | Desert Commercial Advisors | Page 2
OFFERING SUMMARY
Sale Price: $5,999,000
Cap Rate: 7.09%
NOI: $425,156
Price/SF: $98.00
Building Size: 61,000 SF
APN: 110-03-024A
2017 Taxes: $69,260.84
Lot Size: 3.0 Acres
Zoning: C-3
Market: North Central Phoenix
The subject property consists of a freestanding ±61,000 square foot industrial/retail property situated on ±3 AC of land.The building currently has an indoor soccer facility occupying 20,500 square feet, who's lease expires in 2021 with anoption to renew for an additional ten years. That same Tenant also owns the event center in the adjacent suite which iscomprised of an ±6,500 square feet. Their goal is to make the leases for these two businesses coterminous.
The Seller of the subject property owns and operates K-Momo, which occupies the remaining ±34,000. The Seller is opento discussing a leaseback or can vacate the premises should an owner/user require it.
PROPERTY OVERVIEW
PROPERTY HIGHLIGHTS
• ±61,000 SF Building on ±3 AC
• Potentially all 61,000 SF Available for an Owner/User
• Sale Lease Back Opportunity for Investor
• Minimal Operating Expenses
• Existing Tenants on Modified Gross Leases
Property Summary
2301 W. INDIAN SCHOOL RD. PHOENIX, AZ 85015 SVN | Desert Commercial Advisors | Page 3
TENANTNAME
UNITSIZE (SF)
LEASESTART
LEASEEND
ANNUALRENT
% OFBUILDING
PRICEPER SF/YR
Indoor Soccer 20,500 2016 2021 $180,000 33.61 $8.78
Event Center 6,500 2017 2021 $78,000 10.66 $12.00
K-Momo Store 10,000 2010 2018 $108,000 16.39 $10.80
K-Momo Warehouse 24,000 2004 2018 $144,000 39.34 $6.00
Totals/Averages 61,000 $510,000 $8.36
*K-Momo Store and K-Momo Warehouse Open to a Leaseback for five (5) years.*Event Center Lease Will Be Executed in November, 2017.
Rent Roll
INCOME SUMMARY IN PLACE PER SF
Base Rent $510,000 $8.36Water Reimbursement $1,800 $0.03Electricity Reimbursement $30,000 $0.49Alarm Reimbursement $720 $0.01Waste Management Reimbursement $4,200 $0.07
Gross Income $546,720 $8.96
EXPENSE SUMMARY IN PLACE PER SF
Accounting $300 $0.00Advertising, Licenses, Permits $300 $0.00Insurance $4,166 $0.07Management $1,000 $0.02Property Taxes - 2016 $66,342 $1.09Other Taxes $2,800 $0.05General Repairs $8,000 $0.13Supplies $600 $0.01Maintenance $4,000 $0.07Landscaping $3,600 $0.06Gas/Oil $600 $0.01Water $1,800 $0.03Electricity $30,000 $0.49Alarm Monitoring $720 $0.01Waste Management $4,200 $0.07
Gross Expenses $128,428 $2.11
Net Operating Income $425,156 $6.97
2301 W. INDIAN SCHOOL RD. | 2301 W. INDIAN SCHOOL RD., PHOENIX, AZ 85015 SVN | Desert Commercial Advisors | Page 4
Income & Expenses
2301 W. INDIAN SCHOOL RD. PHOENIX, AZ 85015 SVN | Desert Commercial Advisors | Page 5
Additional Photos
2301 W. Indian School Rd.
2301 W. INDIAN SCHOOL RD. | 2301 W. INDIAN SCHOOL RD., PHOENIX, AZ 85015 SVN | Desert Commercial Advisors | Page 6
Regional Map
Location Maps
2301 W. INDIAN SCHOOL RD. | 2301 W. INDIAN SCHOOL RD., PHOENIX, AZ 85015 SVN | Desert Commercial Advisors | Page 7
2301 W. INDIAN SCHOOL RD. | 2301 W. INDIAN SCHOOL RD., PHOENIX, AZ 85015 SVN | Desert Commercial Advisors | Page 8
Parcel Map
2301 W. INDIAN SCHOOL RD. | 2301 W. INDIAN SCHOOL RD., PHOENIX, AZ 85015 SVN | Desert Commercial Advisors | Page 9
Area Amenities