FOR SALE OWNER/USER OPPORTUNITY $1,595,000 ($169.12/SF) 3002 South Priest Drive Tempe, Arizona 85282 ADAM TOLSON 602.954.3771 atolson@leearizona.com MATT HOBAICA 602.954.3755 mhobaica@leearizona.com
CONTENTS TABLE OF CONTENTS I II III IV V VI Executive Summary Property Details Maps Owner - User Summary Floor Plan Photo Gallery No warranty or representation is made to the accuracy of the foregoing information. Terms of sale or lease and availability are subject to change or withdrawal without notice.
EXECUTIVE SUMMARY
EXECUTIVE SUMMARY PROPERTY HIGHLIGHTS 9,431 Square Feet 9,431 SF available for Owner/User Quality construction Stand-alone office building High-end build outs Functional layouts Street exposure signage Easy access to I-10 freeway Excellent curb appeal Quality construction Good ingress / egress easy to find Class A Development preserves value Mature desert landscaping eco friendly
EXECUTIVE SUMMARY PROPERTY PROFILE ADDRESS: TYPE: 3002 S. Priest Drive Tempe, Arizona 85282 Stand-alone office building SALE PRICE: $1,595,000 ($169/SF) BUILDING SIZE: 9,431 SF LOT SIZE: Zero lot line Condo PARKING: 3.92:1000 34 total spaces YEAR BUILT: 2004 OCCUPANCY: Vacating November 2018 ZONING: CSS City of Tempe PARCEL NUMBER: 123-57-332; 333; 334; 335 2017 PROPERTY TAXES $1.84/SF
PROPERTY DETAILS
PROPERTY DETAILS DESCRIPTION OF IMPROVEMENTS Foundation Reinforced concrete footings with reinforced concrete foundation walls Floor System Concrete slab Floor Covering Combination of stone and carpet Exterior Design Block with stucco and glass Roof System Flat foam new 2015, 10 year warranty Interior Walls Cypsum board and glass Lighting Recessed fluorescent lighting and incandescent lighting Elevator None single story HVAC Roof mounted package units Fire Protection / sprinklered Yes Landscaping Mature landscaping with abundance of trees and desert landscaping surrounding building and parking lot. APN Zoning 123-57-332; 333; 334; 335 CSS, City of Tempe Municipal Services Water/Sewer City of Tempe Electricity APS Telephone and Internet - Century Link Natural Gas None Parking 3.92:1000 37 total spaces of which 4 are covered Access Multiple access points onto the 60 and 10 freeway gives the property incredible access to the entire valley.
MAPS
MAPS FREEWAY MAPS
MAPS AERIAL MAP
MAPS PARCEL MAP
FINANCIAL ANALYSIS
FINANCIAL ANALYSIS Q1 2018 PHOENIX OFFICE MARKET Q1 2018 TEMPE SUBMARKET Vacancy: 18.1% Vacancy: 9.4% Avg. Rental Rate: $25.74 FSG Avg. Rental Rate: $34.10 FSG Total Inventory: 626,075 SF Total Inventory: 6,335,556 SF Q1 Absorption: 686,469 SF Q1 Absorption: 308,058 SF 2017 Absorption: 1,833,318 SF 2017 Absorption: 159,826 SF Under Construction: 2,839,908 SF Under Construction: 786,481 SF
FINANCIAL ANALYSIS OWNER USER SUMMARY Purchase Price: $1,595,000 ($169.12/SF) Less 10% Down Payment: $159,500 Loan Amount: $1,435,500 Annual Loan Payment: (1) $97,821 Building Operating Expenses: (2) $75,448 Loan & Op. Ex. Payments: $173,270 Less In Place Income: $0.00 Total Income: $0.00 Occupancy Cost Yearly: $173,270 Occupancy Cost Monthly: $14,439 Occupancy Cost PSF: (3) ($18.37/SF) Assumptions: (1) 4.75% int, 25 yr amort, 10% down (SBA) (2) Estimated op.ex. at $8/SF (3) Assumes: Owner occupies entire 9,431 SF ($173,270 / 9,431 SF = $18.37/SF) Savings: Occupancy costs represents a savings of $62,505 per year when compared to a market lease rate of $25/SF. This is a hypothetical Owner/User Summary, information contained herein has been obtained from other sources that we deem reliable. We have no reason to doubt its accuracy, but we do not guarantee it.
FLOOR PLAN
PLANS FLOOR PLAN
PHOTO GALLERY
PHOTO GALLERY - EXTERIOR
PHOTO GALLERY INTERIOR
3002 South Priest Drive Tempe, AZ ADAM TOLSON MATT HOBAICA