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$925,000
Fountain Hills, AZ 85268
MLS# 6485857
Status: Pending
1 / 10
Property Description
Automotive Center in Fountain Hills for sale. The property has a 10-year (NNN) lease in place with a current expiration date in Q1 2031. The current net operating income for 2022 is $60,000, resulting in a rate of $1.16/NNN. The lease has built-in 3% annual increases through the expiration of the lease. The tenant is responsible for real property taxes, insurance, and maintenance/repairs.
Details
Maps
Contract Info
Current Price: $925,000
List Price: $925,000
Status: Pending
List Date: 2022-11-04
Ownership: Fee Simple
Subagents: N
Buyer/Broker: Y
Buyer Broker $/%: %
Location, Tax & Legal
Map Code/Grid: M41
House Number: 11819
Compass: N
Street Name: SAGUARO
St Suffix: Boulevard
City/Town Code: Fountain Hills
State/Province: AZ
Zip Code: 85268
Zip4: 4621
Country: USA
County Code: Maricopa
Legal Description (Abbrev): LOT 10 BLOCK 1 FOUNTAIN HILLS AZ 302A MCR 016443
Subdivision: FOUNTAIN HILLS AZ 302A
Assessor's Map #: 8
Assessor's Parcel #: 598
Add'l Parcels: No
Assessor Number: 176-08-598
Census Tract: 216820
Legal: LOT 10 BLOCK 1 FOUNTAIN HILLS AZ 302A MCR 016443
Tax Municipality: Fountain Hills
Taxes: 7055
Tax Year: 2021
General Property Description
Ttl Apx SqFt Bldg: 4320
# of Buildings: 1
Year Built: 1979
Zoning: C-3
Remarks & Misc
Cross Street: Saguaro Blvd and Panorama Dr.
Directions: Head South on AZ-51, take AZ-202 E exit continue to exit 13 toward AZ-87 for 14 miles. Then use the left two lanes to turn left onto E Shae Blvd, turn right onto Saguaro Blvd, property is on the right
Geo Lat: 33.594449
Geo Lon: -111.711566
Status Change Info
Status Change Date: 2024-05-13
Off Market Date: 2024-05-13
Under Contract Date: 2024-05-10
Legal Info
Township: 3N
Range: 6E
Section: 23
Lot Number: 10
Bay Info
# of Bays: 4
Income & Expenses
Owner Association: No
Operating Exp: 7055
Net Operating Income: 60000
Pmt & Rate Info
Cap Rate: 6.49
Equity: 925000
Property Features
Building Type: Other (See Remarks)
Current Use: Automobile; See Remarks
Stories: 1 Story
Construction: Tilt-Up
Roofing: Other (See Remarks)
Floors: Other
Ceiling Height: 10.1 Feet to 12 Feet
Heating: Other; See Remarks
Cooling: Other; See Remarks
Loading Facilities: Other (See Remarks)
Interior: Other (See Remarks)
Exterior: Other (See Remarks)
Fencing: Other; See Remarks
Parking: Other (See Remarks)
Electric: Other (See Remarks)
Gas: Other (See Remarks)
Water: Other; See Remarks
Sewer: Other (See Remarks)
New Financing: Other (See Remarks)
Showing Notification Methods: Text; Email; Phone Call
Lockbox Type: None
Source of Fincl Data: Other (See Remarks)
Reports/Disclosures: Other (See Remarks)
Environmental: Other (See Remarks)
Listing Office: R.O.I. Properties
Last Updated: May - 13 - 2024
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