FOR SALE South Scottsdale Investment Property STUART MILNE, CCIM STEVE BERGHOFF 480.659.1777 x101 480.659.1777 x111 stuart@ steve@
Executive Summary Page 2 OFFERING SUMMARY Building Size: +/- 8,021 SF Sales Price: $1,790,000.00 Sale Price PSF: $223.00 PSF NOI: $77,380.00 CAP: 4.32% Year Built: 1977 Zoning: SR Lot Size: 31,882 SF Construction: Framed, Stucco PROPERTY OVERVIEW Rare opportunity to purchase a well-maintained, energy efficient (solar panels), multi-tenant commercial investment property in highly south after south Scottsdale (Old Town) considered the finest urban center in Arizona and home to more than 90 restaurants, 320 retail shops and more than 80 art galleries. 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 mixeduse 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-quality redevelopment projects Convenient access to 101 FWY Parking Ratio: 4.00/1,000SF
3226 N Miller Rd., Scottsdale, AZ 85251 Income & Expenses Page 3 INCOME SUMMARY Market Rental Income $124,894 $15.57 Operating Expense Reimbursement $16,571 $2.07 GROSS INCOME $141,465 $17.64 EXPENSE SUMMARY Electric Utilities $5,621 $0.70 Water Utilities $5,899 $0.74 Gas Utilities $9,845 $1.23 Janitorial Services $12,000 $1.50 Janitorial Supplies $650 $0.08 Landscape Maintenance $4,800 $0.60 Trash Services $1,393 $0.17 Property Management $7,500 $0.94 Property Insurance $1,644 $0.20 Property Taxes $12,983 $1.62 Pest Control Service $350 $0.04 Electric Repair/Supplies $1,400 $0.17 GROSS EXPENSES $64,085 $7.99 NET OPERATING INCOME $77,380 $9.65 PER SF PER SF
3226 N Miller Rd., Scottsdale, AZ 85251 Rent Roll Page 4 TENANT NAME UNIT NUMBER UNIT SIZE (SF) LEASE START LEASE END ANNUAL RENT % OF BUILDING LEASE TYPES RENEWAL OPTIONS PRICE PER SF YR/ 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
Additional Photos Page 5
3226 N Miller Rd., Scottsdale, AZ 85251 Additional Photos Page 6
Demographics Report Page 7 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
Demographics Map Page 8 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 * Demographic data derived from 2010 US Census
Aerial Map Page 9
Location Maps Page 10