301 W 4th Street, Tucson, AZ 85705 (MLS# 22004822)

301 W 4th Street, Tucson, AZ 85705

$1,390,000

Creative Office (Studios) on left and CrossFit Gym on right.

Easy street parking and bike parking in front

11th Ave deadends, this provides ample and easy street parking.

Entrance to back parking area is secured by fence. Gate with automatic opener.

Lots of additional street parking along 4th.

Entry to Crossfit Gym, parking for gym, and shaded outdoor area.

Large paved lot is primarily used by gym.

Parking area was crack sealed and coated in 2016.

Provides another entrance to both the gym and creative spaces. Lots of additional parking and room to expand.

9 studios/offices line the main hallway and 3 additional loft spaces are also leased.

Each space has a large window and full light door to the hallway

The original bathrooms were updates and freshes in 2016.

Bow trusses and wood ceilings provide an inspiring urban aesthetic.

Office space with lot of natural light from restored steel casement style warehouse windows.

Studio 3 has small kitchenette and private bathroom with shower and storage loft.

All ground floor spaces are about 440 square feet with open ceilings.

Mostly open space. 2016 TI included all new bathrooms, kitchen and office space.

5,000 square feet with lots of natural light from the restored windows.

Two roll up doors in addition to the man doors provide easy access for people and equipment.

Newly constructed bathrooms during TI in 2016.

Kitchen, bathrooms, laundry and office are all air conditioned.

Property Type: Commercial Square Footage: 10,000 Lot Size (sq. ft.): 34,334 Status: Closed

Current Price: $1,390,000 List Date: 2/20/2020 Last Modified: 12/13/2024

Overview

Description

Repurposed warehouse located just north of downtown. Built in 1925 the double and triple brick structure has striking architectural features including a bow truss roof system and restored steel casement warehouse windows. 5,000 square feet of the buildings former offices were converted into 12 separate creative spaces which are leased individually to established long term artist tenants and other creative office space users. The adjacent 5,000 square feet is occupied by a successful local CrossFit gym who has a long-term lease. Building upgrades in 2015 include: new insulated roof system, electrical improvements and HVAC. Clean Phase I & II reports available. Solid NOI, zero vacancy with waiting list, stable long-term tenants and initial plans for another building on the site.

Listing Details MLS# 22004822

Address Information

Street #: 301
Direction: W
Street Name: 4th
Suffix: Street
State/Province: AZ
Zip Code: 85705
County: Pima
Country: USA

Location, Tax & Legal

Tax Code: 117-04-1780
Area: Central

General Property Information

Property Sub-Type: Other
Construction Status: Existing
Multi-Tenant: Yes
Year Built: 1925
Lot Dimensions: Irregular
Lot Acres: 0.79
Lot Sqft: 34334
Lot Size Source: Assessor
Combined SqFt: 10000
Source of SqFt: Assessor
List Price/SqFt: 160
Lot Size Price/SqFt: 46.6

Property Features

Property Features: Skylight Construction: Brick Roof: Built-Up - Reflect; Foam Fenced Storage: Yes Main Cooling: Central Air; Evaporative Cooling; Zoned Main Heating: Electric; Heat Pump; Zoned Water Heater: Electric Gas: None Sewer: Connected Water: Public Accessibility Option: Door Levers Security: Alarm Installed; Closed Circuit Camera(s); Security Lights Green Features: Bath Exhaust Out; Dual-Flush Toilets; Infill Site Landscape - Front: Decorative Gravel; Desert Plantings; Low Care; Trees Landscape - Rear: Trees Road Type: Paved Parking: Fenced Parking; Free; Paved Parking Lot Features: Adjacent to Rail; Corner Lot Business Location: Free Standing Bldg; Redevelopment Area Traffic Count: Not Available; Unknown Terms: Submit Possession: See Remarks Submit With Offer: Proof of Funds Property Disclosures: Appraisal; Floor Plan; Lead Based Paint; Leases; Military Airport Vct; Public Airport Vcty; Seller Prop Disclosure Special Conditions: None

Contract Information

Method of Title: Fee (Simple)
Short Sale: No

Status Change Info

Off Market Date: 2021-04-07
Pending Date: 2021-07-01
Sold Date: 2021-07-07
Sold Price/SqFt: 139
Lot Sz Sold Prc/SqFt: 40.48
Financing: Cash

More Information

Showing Information

Directions: From Speedway and Main, south on Main to 4th Street (just before railroad track crossing), east to address.

Income

Gross Scheduled Rent: 115530

Analysis

Cap Rate %: 7.22

Unit Information

Office: Warehouse
Other: CrossFit Gym

Property Features

Phase 1 Report: Yes

Space Information

Ceiling Height: 20+ft

Electric

Electric Company: TEP
3 Phase Power: Yes
Master Meter: Yes

Security

Other: Security Screens

Fence

Other: Expanded Metal

Documents

Lead Paint Discl ›

Seller Disclosure ›

Listing Office: Southwest Urban

Last Updated: December - 13 - 2024

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