2856 W Drexel Road, Tucson, AZ 85746 (MLS# 20744637)

2856 W Drexel Road, Tucson, AZ 85746

$1,000,000

Property Type: Commercial Square Footage: 18,925 Lot Size (sq. ft.): 7 Status: Closed

Current Price: $1,000,000 List Date: 11/07/2007 Last Modified: 10/25/2024

Overview

Description

18900 sqft Retail Center fully leased for past 10 years on 5.88 total acres. Excess acreage can be used to expand retail center AND residential homesites. 350 approx. frontage on Drexel and 366' apx frontage on Cardinal. Three parcels include: 137-14-213C, 213F, and 213G being sold below appraised value. Must be sold together for Estate purposes. NOTE: Appraisal states that rents can be increased to $180,250 from $123,543.

Listing Details MLS# 20744637

Address Information

Street #: 2856
Direction: W
Street Name: Drexel
Suffix: Road
State/Province: AZ
Zip Code: 85746
County: Pima
Country: USA

Location, Tax & Legal

Tax Code: 137-14-213C
Area: Southwest
Tax Year: 2006
Taxes: 18456
Assessments: 0
Legal Description: MANZANITA MANOR No 3 N51' of E100' of 8200' of Lot 16 Blk 11 No 3 N366' of W321' of Lot 16 Blk 11
Municipality/Zoning: Pima County - CB1
Fire Protection: Included in Taxes

General Property Information

Property Sub-Type: Retail
Year Built: 1964
Lot Dimensions: Irregular
Lot Acres: 5.88
Lot Sqft: 256030
Lot Size Source: Assessor
Combined SqFt: 18925
Source of SqFt: Assessor
List Price/SqFt: 105.42
Lot Size Price/SqFt: 7.79

Property Features

Construction: Slump Block Main Cooling: Central Air Main Heating: Forced Air; Natural Gas Sewer: Connected Water: Public Terms: Cash; Submit Property Disclosures: Unknown

Status Change Info

Off Market Date: 2008-06-06
Pending Date: 2007-12-12
Sold Date: 2008-06-06
Sold Price/SqFt: 52.84
Lot Sz Sold Prc/SqFt: 3.9
Financing: Conventional

More Information

Showing Information

Directions: Drexel Road & Cardinal Ave I-19/Valencia exit go west to Cardinal N to Drexel on the NE corner of Cardinal and Drexel

Income

Gross Scheduled Rent: 123500
Adjusted Gross: 123500
Total Expenses: 31512
Net Opp Income: 91988

Analysis

Cap Rate %: 4.61
Gross Rent Multi: 16.15
Exp/SqFt: 1.66
Exp % of Gross: 25.51

Expenses

Figures Presented: Actual
Gas/Electric: 75
Insurance: 5760
Maintenance Supplies: 1500
Management: 5406
Taxes/Assessments: 18456
Water/Sewer: 315

Property Features

A.D.A. Compliant: Yes
Phase 1 Report: No

Electric

3 Phase Power: No
Master Meter: Yes

Construction

Slump Block: Yes

Sewer

Connected: Yes

Water

Public: Yes

Main Cooling

Central Air: Yes

Main Heating

Forced Air: Yes
Natural Gas: Yes

Terms

Cash: Yes
Submit: Yes

Property Disclosures

Unknown: Yes

Listing Office: Long Realty

Last Updated: October - 25 - 2024

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