for sale south scottsdale investment property€¦ · for sale | south scottsdale investment...

F O R S A L ES o u t h S c o t t s d a l e

I n v e s t m e n t P r o p e r t y3226 N Mil ler Rd. Scottsdale, AZ 85251

STUART MILNE, CCIM STEVE BERGHOFF480.659.1777 x101 480.659.1777 [email protected] [email protected]

MENLO GROUPP: 480.659.1777 • F: 866.226.57661809 S Holbrook Ln, Tempe, AZ 85281menlocre.com


OFFERING SUMMARY

Building Size: +/- 8,021 SF

Sales Price: $1,644,305.00

Sale Price PSF: $205.00 PSF

NOI: $77,380.00

CAP: 4.71%

Year Built: 1977

Zoning: SR

Lot Size: 31,882 SF

Construction: Framed, Stucco

Rare opportunity to purchase a well-maintained, energy efficient (solar panels), multi-tenant commercial investment property inhighly south after south Scottsdale (Old Town) considered the finest urban center in Arizona and home to more than 90restaurants, 320 retail shops and more than 80 art galleries.

PROPERTY OVERVIEW

PROPERTY HIGHLIGHTS

• Solar Panel Covered Parking provides significant electric savings

• Rare opportunity to purchase in strong south Scottsdale submarket

• Located in area with substantial redevelopment including new multi-family projects, Clayton House event venue and mixed-use projects

• Energy Savings: Solar panels installed on covered parking canopy and roof provide significant electric energy savings

• Property is 86% occupied with only a 1,121 SF built-out dental office that is vacant

• Close proximity to restaurants, shopping and downtown Scottsdale amenities

• Property located in Scottsdale Downtown Character Area Plan (Downtown Plan) established to promote high-qualityredevelopment projects

• Convenient access to 101 FWY

• Parking Ratio: 4.00/1,000SF

FOR SALE | South Scottsdale Investment Property3226 N Miller Rd. Scottsdale, AZ 85251

Executive Summary


FOR SALE | South Scottsdale Investment Property3226 N Miller Rd., Scottsdale, AZ 85251

Income & Expenses

INCOME SUMMARY PER SF

Market Rental Income $124,894 $15.57Operating Expense Reimbursement $16,571 $2.07

GROSS INCOME $141,465 $17.64

EXPENSE SUMMARY PER SF

Electric Utilities $5,621 $0.70Water Utilities $5,899 $0.74Gas Utilities $9,845 $1.23Janitorial Services $12,000 $1.50Janitorial Supplies $650 $0.08Landscape Maintenance $4,800 $0.60Trash Services $1,393 $0.17Property Management $7,500 $0.94Property Insurance $1,644 $0.20Property Taxes $12,983 $1.62Pest Control Service $350 $0.04Electric Repair/Supplies $1,400 $0.17

GROSS EXPENSES $64,085 $7.99

NET OPERATING INCOME $77,380 $9.65


TENANTNAME

UNITNUMBER UNIT SIZE (SF)

LEASESTART

LEASEEND

ANNUALRENT

% OFBUILDING

LEASETYPES

RENEWALOPTIONS

PRICE PER SFYR/

Roy Shim 1 1,080 09/09/2015 02/28/2021 $20,051.00 13.46% Full Service Gross One (1), Five (5) Year $18.57

Robert Spence, DDS 2 1,080 02/01/2003 Month to Month $25,034.00 13.46% Full Service Gross None $23.18

Michael S. O'Connell 3 1,080 12/15/2015 05/31/2021 $20,056.00 13.46% Full Service Gross One (1), Five (5) Year $18.57

Apex Bodyworx, LLC 4 924 04/01/2017 04/30/2020 $16,863.00 11.52% Full Service Gross None $18.25

Vacant 5 1,121 -- -- -- 13.98% -- -- --

Scottsdale Cardiovascular 6 1,235 04/01/2017 04/30/2022 $20,378.00 15.4% Full Service Gross Two (2), Three (3) Year $16.50

Desert North Realty 7 1,501 08/08/2014 11/30/2019 $22,515.00 18.71% Full Service Gross None $15.00

Total/Averages $124,897.00 $15.57


Rent Roll



Additional Photos



Demographics Report

1 MILE 3 MILES 5 MILES

Total households 7,744 46,066 88,482

Total persons per hh 1.9 2.1 2.2

Average hh income $57,815 $69,852 $71,817

Average house value $253,542 $345,275 $412,962

1 MILE 3 MILES 5 MILES

Total population 14,928 95,652 198,171

Median age 34.8 40.8 36.9

Median age (male) 33.6 39.7 36.3

Median age (female) 35.7 41.6 37.4

* Demographic data derived from 2010 US Census


* Demographic data derived from 2010 US Census

1 Mile 3 Miles 5 Miles

Total Population 14,928 95,652 198,171

Population Density 4,752 3,383 2,523

Median Age 34.8 40.8 36.9

Median Age (Male) 33.6 39.7 36.3

Median Age (Female) 35.7 41.6 37.4

Total Households 7,744 46,066 88,482

# of Persons Per HH 1.9 2.1 2.2

Average HH Income $57,815 $69,852 $71,817

Average House Value $253,542 $345,275 $412,962


Demographics Map



Aerial Map



Page10Location Maps

for sale south scottsdale investment property€¦ · for sale | south scottsdale investment...

Documents