$2,225,000
Flagstaff, AZ 86001
MLS# 6080485
Status: Closed
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Property Description
Calling all 1031 exchange investors! Fully leased NNN 7% CAP investment opportunity with a recession-proof and 'essential business' medical dispensary as the anchor. Prime location along the busy Switzer Canyon corridor featuring new medical and residential development. Long term leases with newer improvements to the building including new roof less than 5 years old, sewer lines, and individual leasehold improvements. Lots of surface parking spaces on a nearly 3/4 acre lot. With new medical facilities underway across the street in addition to continued residential growth in the area and true investment properties being harder to come by, this property demands pursuit.
Details
Maps
Contract Info
Current Price: $2,225,000
Sold Price: $2,225,000
Status: Closed
List Date: 2020-05-01
Ownership: Fee Simple
Subagents: Y
Sub Agent $/%: %
Buyer/Broker: N
Location, Tax & Legal
Map Code/Grid: C79
House Number: 460
Compass: N
Street Name: SWITZER CANYON
St Suffix: Drive
City/Town Code: Flagstaff
State/Province: AZ
Zip Code: 86001
Zip4: 4899
Country: USA
County Code: Coconino
Legal Description (Abbrev): SIXTEENTH: SE QUARTER: SE SECTION: 15 TOWNSHIP: 21N RANGE: 07E PT OF SEC 15 21N 7E BEG AT SE COR TH
Assessor's Map #: 25
Assessor's Parcel #: 2
Add'l Parcels: No
Assessor Number: 101-25-002
Census Tract: 200
Legal: SIXTEENTH: SE QUARTER: SE SECTION: 15 TOWNSHIP: 21N RANGE: 07E PT OF SEC 15 21N 7E BEG AT SE COR TH
Tax Municipality: Flagstaff
Taxes: 9988
Tax Year: 2019
General Property Description
Ttl Apx SqFt Bldg: 10000
# of Buildings: 1
Year Built: 1973
Uncvrd Parking Spcs: 10
Zoning: HC
Remarks & Misc
Directions: East on Route 66, North on Switzer Canyon Dr, property is on the right side.
Geo Lat: 35.197749
Geo Lon: -111.634974
Status Change Info
Status Change Date: 2021-02-05
Off Market Date: 2021-02-05
Under Contract Date: 2021-01-13
Close of Escrow Date: 2021-02-05
Sold Price: $2,225,000
Legal Info
Township: 21N
Range: 07E
Section: 15
Lot Number: -
Income & Expenses
Owner Association: No
Net Operating Income: 180000
Pmt & Rate Info
Cap Rate: 7.83
Equity: 2300000
Sold Info
Loan Type: Cash
Payment Type: Other
Clsing Cost Split: Normal - N
Buyer Concession $/%: $
Seller Concession $/%: $
Property Features
Building Type: Commercial
Current Use: Mixed Use; Service Business; Retail
Stories: 1 Story
Construction: Brick
Roofing: Comp Shingle; Built-Up
Floors: Concrete; Other
Ceiling Height: 8.1 Feet to 10 Feet; 10.1 Feet to 12 Feet
Heating: Natural Gas
Cooling: Office A/C; Other; See Remarks
Loading Facilities: Drive-in Door(s); RR Loading Dock
Interior: Finished to Suit; Fire Sprinklers; Smoke Detector(s); Security System; Security Light(s); Alarm System
Fencing: None
Amenities: Showroom
Parking: Free; Paved Parking
Electric: City Electric
Gas: City Gas; Individual Meter
Water: City Franchise
Sewer: Sewer - Public
Freeway/Highway: 2.1 - 5 Miles
New Financing: Cash Only; Other (See Remarks)
Showing Notification Methods: Phone Call
Lockbox Type: None
Source of Fincl Data: Provided by Owner
Reports/Disclosures: Other (See Remarks)
Environmental: None
Listing Office: Coldwell Banker Northland
Last Updated: July - 02 - 2024
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