FOR SALE or Ground Lease

Transcription

1 FOR SALE or Ground Lease 7,100 SF Building on 13,554 SF of Land Zoned C N Scottsdale Rd Scottsdale AZ Retail Redevelopment Opportunity Corner Parcel Sale $2.2M or Ground Lease to National Credit Located N-NWC Scottsdale & E Sahuaro Dr Full vehicular access from N Scottsdale Rd 158 of frontage on N Scottsdale Rd 88 of frontage on E Sahuaro Dr Building Expansion Potential subject to Use 2018 Prop Tax on all 5 parcels $8, ,100 SF building currently consists of retail suites of approximately 4,196 SF & 2,896 SF each 2017 Population Estimate: 1 Mile = 7,848 3 Miles = 60,751 5 Miles = 182, Median Household Income: 1 Mile = $78,215 3 Mils = $95,979 5 Miles $82, Average Daily Traffic Count at N Scottsdale Rd & E Sahuaro Dr = 37,500 Cars Per Day The existing C-3/P-3 & P2 zoning currently provides for approximately 37 parking stalls (5.2/1,000 SF) Rick Mineweaser DIAMOND PACIFIC INVESTMENTS O: / M: rick@diamond-pacific.com The information contained herein, while not guaranteed, has been secured from sources we believe reliable.

2 N Scottsdale Rd Scottsdale AZ 85254

3 Parcel Summary Table for N Scottsdale Rd Lot # Parcel # Parcel Address Lot Size Zoning N Scottsdale Rd 2,994 SF C-3/P-3 & P N Scottsdale Rd 2,640 SF C-3/P-3 & P N Scottsdale Rd 2,640 SF C-3/P-3 & P N Scottsdale Rd 2,640 SF C-3/P-3 & P N Scottsdale Rd 2,640 SF C-3/P-3 & P-2 Source: Maicopa County Assessor's Office The information contained herein, while not guaranteed, has been secured from sources we believe reliable.

4 Zoning Map & Summary N Scottsdale Rd Source: All 5 parcels are zoned C-3/P-3 & P-2. P-2 is the western portion of each parcel. C-3/P-3 is the eastern portion of each parcel starting at the building footprint. The information contained herein, while not guaranteed, has been secured from sources we believe reliable.

5 Property Taxes on N Scottsdale Rd The offering consists of 5 separate parcels, each with their own property tax bill. The 2018 Property Tax on Parcels #103, #104, #105 & #106 are all $ each. The 2018 Property Tax on Parcel #102 is $4, The total 2018 Property Tax on all 5 parcels is $8, The information contained herein, while not guaranteed, has been secured from sources we believe reliable.

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7 Population for 5 Mile Radius N Scottsdale Rd, Scottsdale, AZ N Scottsdale Rd Demographic Summary Population 1 Mile 3 Mile 5 Mile 2017 Total Population: 7,848 60, , Population: 8,394 65, ,130 Pop Growth : 6.96% 7.53% 7.48% Average Age: Households 2017 Total Households: 3,593 26,296 80,718 HH Growth : 6.32% 7.20% 7.24% Median Household Inc: $78,215 $95,979 $82,137 Avg Household Size: Avg HH Vehicles: Housing Median Home Value: $566,763 $492,591 $389,651 Median Year Built: Information contained herein has been independently provided to Diamond Pacific Investments, Inc. by CoStar/Comps. Copyrighted report licensed to Diamond Pacific Investments, Inc /18

8 Traffic Counts for N Scottsdale Rd Building Type: Secondary: GLA: Year Built: Total Available: % Leased: Rent/SF/Yr: General Retail - 10,179 SF SF 100% N Scottsdale Rd, Scottsdale, AZ Count Avg Daily Volume Miles from Street Cross Street Cross Str Dist Year Volume Type Subject Prop 1 N Scottsdale Rd E Sahuaro Dr 0.03 N ,500 MPSI.05 2 E Shea Blvd Shea Blvd 0.02 E ,200 MPSI.18 3 N 71st Pl Shea Blvd ,084 MPSI.18 4 N Scottsdale Rd E Gary Rd 0.02 N ,500 MPSI.25 5 E Shea Blvd N 69th St 0.03 E ,700 MPSI.41 6 N Scottsdale Rd E Gold Dust Ave 0.01 N ,800 MPSI.42 7 E Shea Blvd N 76th St 0.03 W ,103 MPSI.55 8 E Cholla St N 68th Pl 0.05 E ,017 MPSI.59 9 N Scottsdale Rd E Sunnyside Dr 0.02 N ,000 MPSI N Scottsdale Rd E Fanfol Dr 0.07 N ,300 MPSI.85 Information contained herein has been independently provided to Diamond Pacific Investments, Inc. by CoStar/Comps. Copyrighted report licensed to Diamond Pacific Investments, Inc /18 Page 1

9 Building Square Footage Disclosure for N Scottsdale Rd Currently there are 3 sources of information on the existing building square footage. Purchaser is responsible for making their own determination if that is a significant factor in their acquisition. Source #1: 2 Prior Leases: South Existing Suite North Existing Suite Total 4,196 SF 2,896 SF 7,092 SF Source #2: Specs in Original Stamped Drawings from 10/71: Source #3: An architect s measurements from 2/10: The information contained herein, while not guaranteed, has been secured from sources we believe reliable.

10 Property Comps N Scottsdale Rd Property Basics: 5 parcels totaling 13,554 SF of Land on a un-signalized corner. Single story building on underutilized site. Building estimated to be aprox 7,100 SF SF with potential for up to aprox 9,200 SF. Current site coverage per above is 52%. Sale Comp #1 - Discount Tire sale to Fascinations: Single Tenant/User sale on 2/17/16 at $1,850,000 5,216 SF of building on 8,272 SF of Land. Site coverage 63%. Similar location on same E/W street at Scottsdale Rd. Single story. TI with same footprint with substantial renovation inside completed by buyer. Land Price $223.64/SF - Building Price $ Sale Comp #2 - AZ Premium Finance sale to Goldstein Diamonds: Single Tenant/User sale on 6/15/15 at $1, ,828 SF of building on 4,713 SF of land. Site Coverage 60%. Similar location as a corner profile but signalized. Single story with high ceilings. TI with same footprint, building was in better condition for current use than Sale Comp #1. Land Price $219.44/SF - Building Price $365.72/SF. Median Price Comparison between Comp #1 & Comp #2: Land = $221.54/SF Building = $ /SF Applied Median Price Comparison to Sundown Plaza Property for Estimated Value: $219.54/SF = $2,976,000 $ = $2,558,000 Offering Price Today for Sundown Plaza: $2.2M = $310/SF for Building $162/SF for Land The information contained herein, while not guaranteed, has been secured from sources we believe reliable.

11 N Scottsdale Rd - Sterling Plaza Scottsdale, AZ Sale on 2/17/2016 for $1,850,000 ($354.68/SF) - Research Complete 5,216 SF Retail (Strip Center) Building Built in 1977 SOLD Buyer & Seller Contact Info Recorded Buyer: NVHQ LLC Recorded Seller: Reinalt Thomas Corp Reinalt Thomas Co. c/o Voightlander True Buyer: Marsoner, Inc. 430 W WARNER Rd True Seller: Discount Tire Company, Inc. James Silhasek Tempe, AZ N Scottsdale Rd (480) Scottsdale, AZ (480) Buyer Type: Other - Private Seller Type: Corporate/User Buyer Broker: Cariño Properties LLC Listing Broker: De Rito Partners, Inc. Maria Johnson (602) Bruce Milton (602) Justin Rihs (602) Transaction Details ID: Sale Date: Escrow Length: 02/17/2016 (230 days on market) 90 days Sale Price: $1,850,000-Confirmed Asking Price: $2,000,000 Price/SF: $ Price/AC Land Gross: $9,741, Sale Type: Bldg Type: Year Built/Age: GLA: Land Area: Owner/User Retail - (Strip Center) Built in 1977 Age: 39 5,216 SF 0.19 AC (8,272 SF) Percent Leased: 0.0% Tenancy: Single - No. of Tenants: 1 Tenants at time of sale: Marsoner Inc. Financing: Down payment of $1,850, (100.0%) Percent Improved: 37.1% Total Value Assessed: Improved Value Assessed Land Value Assessed: $322,600 in 2015 $119,800 $202,800 Land Assessed/AC: $1,067,930 Spacer Information contained herein has been independently provided to Diamond Pacific Investments, Inc. by CoStar/Comps. Copyrighted report licensed to Diamond Pacific Investments, Inc /24/2018 Page 1

12 10640 N Scottsdale Rd - Sterling Plaza SOLD 5,216 SF Retail (Strip Center) Building Built in 1977 (con't) Legal Desc: Lots 99, 100 & 101, Sundown Plaza,bk 65 pg 40. Parcel No: , , Document No: Spacer Transaction Notes Listing broker reports that property has been vacant since June The buyer reported that they will be an owner/user of the retail building utilizing it as a boutique. The property was on the market For Sale with an initial asking price of $2,000,000 Current Retail Information ID: Property Type: Retail - (Strip Center) Center: Bldg Status: Owner Type: Sterling Plaza Built in 1977 Other - Private Zoning: C-3 Owner Occupied: Yes GLA: 5,216 SF Total Avail: % Leased: 0 SF 100.0% Bldg Vacant: 0 SF Land Area: 0.19 AC Lot Dimensions: - Building FAR: 0.63 Rent/SF/Yr: - No. of Stores: - CAM: - Spacer Expenses: Parking: Park Name: Metro Market: Submarket: County: CBSA: DMA: 2017 $1.00/sf 15 Surface Spaces are available Location Information Sterling Plaza Phoenix Scottsdale Ret/Central Scottsdale Ret Maricopa Phoenix-Mesa-Scottsdale, AZ Phoenix, AZ Information contained herein has been independently provided to Diamond Pacific Investments, Inc. by CoStar/Comps. Copyrighted report licensed to Diamond Pacific Investments, Inc /24/2018 Page 2

13 N Scottsdale Rd Scottsdale, AZ Sale on 6/15/2015 for $1,034,250 ($365.72/SF) - Research Complete 2,828 SF Retail Freestanding Building Built in 2003 SOLD Buyer & Seller Contact Info Recorded Buyer: LDAC Holdings LLLP Recorded Seller: A & C Trust True Buyer: Goldstein Diamonds, Inc. David Goldstein 6900 E Camelback Rd Scottsdale, AZ (480) True Seller: Arizona Premium Finance Inc Allan Rosenblum N 32nd St Phoenix, AZ (602) Buyer Type: Individual Buyer Broker: Cutler Commercial Listing Broker: Cushman & Wakefield Clifford Cutler (602) Transaction Details Cliff Johnston (602) John Appelbe (602) ID: Sale Date: Escrow Length: 06/15/2015 (334 days on market) 75 days Sale Price: $1,034,250-Confirmed Asking Price: $1,295,000 Price/SF: $ Price/AC Land Gross: $9,558, Sale Type: Bldg Type: Year Built/Age: GLA: Land Area: Owner/User Retail - Freestanding Built in 2003 Age: 12 2,828 SF 0.11 AC (4,713 SF) Percent Leased: 100.0% - Percent Improved: 63.8% Total Value Assessed: Improved Value Assessed Land Value Assessed: $330,900 in 2014 $211,200 $119,700 Land Assessed/AC: $1,106,284 Spacer No. of Tenants: 1 Tenants at time of sale: Biltmore Financing: Down payment of $154, (14.9%) $880, from Midfirst Bank:: due in 15 yrs Information contained herein has been independently provided to Diamond Pacific Investments, Inc. by CoStar/Comps. Copyrighted report licensed to Diamond Pacific Investments, Inc /24/2018 Page 3

14 10830 N Scottsdale Rd SOLD 2,828 SF Retail Freestanding Building Built in 2003 (con't) Legal Desc: Lots 1 and 2 Sundown Plaza bk 65 pg 40 Parcel No: A Document No: Sale History: Sold for $1,034,250 ($365.72/SF) on 6/15/2015 Sold for $800,000 ($282.89/SF) on 12/17/2002 Spacer Transaction Notes On June 15, 2015 the 2,828 square foot retail building sold for $1,034,250, or $ per square foot. The property was on the market with an initial asking price of $1,295,00. The seller was an owner/user of the property and the buyer will be the same dba Biltmore Loan. The buyer confirmed a sale price at $,034,250 and reported that an extensive $300,00 remodel of the property is planned. Grand opening is expected in 120 days. There were no special conditions, credits, discounts or deferred maintenance issues reported. Current Retail Information ID: Property Type: Retail - Freestanding Center: Bldg Status: Owner Type: - Built in 2003 Individual Zoning: C-3, Scottsdale Owner Occupied: - GLA: 2,828 SF Total Avail: % Leased: 0 SF 100.0% Bldg Vacant: 0 SF Land Area: 0.11 AC Lot Dimensions: - Building FAR: 0.60 Rent/SF/Yr: - No. of Stores: - CAM: - Spacer Expenses: Parking: Metro Market: Submarket: County: CBSA: DMA: Map(Page): 2017 $2.15/sf 7 Surface Spaces are available; 3 Covered Spaces are available Location Information Phoenix Scottsdale Ret/Central Scottsdale Ret Maricopa Phoenix-Mesa-Scottsdale, AZ Phoenix, AZ Wide World of Maps, Inc LK Information contained herein has been independently provided to Diamond Pacific Investments, Inc. by CoStar/Comps. Copyrighted report licensed to Diamond Pacific Investments, Inc /24/2018 Page 4