320 S Ocotillo, Benson, AZ 85602 (MLS# 2423202)

320 S Ocotillo, Benson, AZ 85602

$1,150,000

Property Type: Commercial Square Footage: 50,646 Lot Size (sq. ft.): 6 Status: Closed

Current Price: $1,150,000 List Date: 9/16/2004 Last Modified: 10/25/2024

Overview

Description

Great upside potential when fully leased. Cap rate shown is based on actual current numbers. New Alco store has added $500K to $600K in new capital improvements. Alco pays half of CAMS shown here as Other Income. Other tenants are month to month, but most have been here for some time. Unit 1 rent shown is Alco. Unit 2 rent shown is all current tenants combined. Unit 3 rent shown is total for space now vacant.

Listing Details MLS# 2423202

Address Information

Street #: 320
Direction: S
Street Name: Ocotillo
State/Province: AZ
Zip Code: 85602
County: Cochise
Country: USA

Location, Tax & Legal

Tax Code: 12319008C
Area: Benson/St. David
Tax Year: 2003
Taxes: 29317
Assessments: 0
Legal Description: Long legal in office. Carl Mickler of Carl Mickler Realty 446-7808 is additional co-listing agent.
Municipality/Zoning: Benson - TR36
Fire Protection: Included in Taxes

General Property Information

Property Sub-Type: Retail
# Units: 18
Year Built: 1974
Lot Dimensions: Irregular
Lot Acres: 4.51
Lot Sqft: 196368
Lot Size Source: Other
Combined SqFt: 50646
Source of SqFt: Owner
List Price/SqFt: 25.17
Lot Size Price/SqFt: 6.49

Property Features

Construction: Metal Main Cooling: Zoned Main Heating: Forced Air; Natural Gas Sewer: Connected Water: Public Terms: Cash; Conventional; Submit Property Disclosures: Unknown

Status Change Info

Off Market Date: 2005-03-25
Pending Date: 2004-12-29
Sold Date: 2005-03-25
Sold Price/SqFt: 22.7
Lot Sz Sold Prc/SqFt: 5.85
Financing: Cash Owner Carryback

More Information

Showing Information

Directions: From Tucson east on Interstate 10 to Benson exit 303. Take exit and continue to Ocotillo (first traffic light). Turn right to property on right.

Income

Gross Scheduled Rent: 170698
Vacancy Loss: 49926
Other Income: 23244
Adjusted Gross: 144016
Total Expenses: 53049
Net Opp Income: 90967

Analysis

Cap Rate %: 7.13
Gross Rent Multi: 8.85
Vacancy Rate %: 29.24
Exp/SqFt: 1.04
Exp % of Gross: 36.83

Expenses

Figures Presented: Actual
Gas/Electric: 2100
Insurance: 7668
Taxes/Assessments: 29317
Water/Sewer: 3600
Other Expenses: 10364

Property Features

A.D.A. Compliant: Yes
Phase 1 Report: Yes

Electric

3 Phase Power: Yes
Master Meter: No

Sold Info

Down Payment: 345000

Construction

Metal: Yes

Sewer

Connected: Yes

Water

Public: Yes

Main Cooling

Zoned: Yes

Main Heating

Forced Air: Yes
Natural Gas: Yes

Terms

Cash: Yes
Conventional: Yes
Submit: Yes

Property Disclosures

Unknown: Yes

Listing Office: Art Kelley, CCIM

Last Updated: October - 25 - 2024

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