2601 N 3RD Street, Phoenix, AZ 85004
$4,150,000
Property Type:
Comm/Industry Sale
Square Footage:
44,309
Lot Size (sq. ft.):
16,335
Status:
Closed
Current Price:
$4,150,000
List Date:
11/23/2018
Last Modified:
1/14/2025
Overview
Description
Premier 40,000 square foot building 100% occupied/rented with over 50% medical tenants. Strong tenant base The building with 31 stable paying tenants that occupy the building.
Two separate outer staircases and one elevator that go from the basement garage to the third floor.
The convenient location allows easy access to 7 majors hospitals within a 4 mile, less than 2 miles from both the I-10 and 51 freeway and ¼ of a mile from the light rail. The vibrant atmosphere in the area created by the re-gentrification has created fine dining establishments, hip bars, café's and newly built multi-family dwellings catering to a fun work-play environment.
Listing Details MLS# 5811145
Location, Tax & Legal
- Map Code/Grid
- P34
- House Number
- 2601
- Compass
- N
- Street Name
- 3RD
- St Suffix
- Street
- City/Town Code
- Phoenix
- State/Province
- AZ
- Zip Code
- 85004
- Zip4
- 1142
- County Code
- Maricopa
- Subdivision
- NORTH BALTIMORE HTS
- Assessor Number
- 118-45-016
- Tax Year
- 2017
- Assessor's Map #
- 45
- Legal Description (Abbrev)
- N BALTIMORE HEIGHTS PT LOT 4 S 111' OF W2 EX E 2F & EX TRI 10FX10F IN SE COR & EX TH PT DESC P/D
- Assessor's Parcel #
- 16
- Add'l Parcels
- Yes
- Tax Municipality
- Maricopa - COUNTY
- Census Tract
- 111800
- Taxes
- 59000
- Legal
- N BALTIMORE HEIGHTS PT LOT 4 S 111' OF W2 EX E 2F & EX TRI 10FX10F IN SE COR & EX TH PT DESC P/D
Contract Info
- Ownership
- Fee Simple
General Property Description
- Ttl Apx SqFt Bldg
- 44309
- # of Buildings
- Yes
- Year Built
- 1987
- Uncvrd Parking Spcs
- 42
- Zoning
- R-5 COM
Remarks Misc
- Cross Street
- VIRGINIA & 3RD STREET
- Directions
- 3RD STREET AND VIRGINIA, SOUTH OF THOMAS RD.
Status Change Info
- Off Market Date
- 2018-12-15
- Under Contract Date
- 2018-09-25
- Close of Escrow Date
- 2018-12-14
Legal Info
- Township
- 2N
- Range
- 3E
- Section
- 32
- Lot Number
- 4
More Information
Income Expenses
- Gross Annual Sch Inc
- 559657
- Net Operating Income
- 302453
Sold Info
- Loan Type
- Conventional
- Loan Years
- 20
- Payment Type
- Other
- Clsing Cost Split
- Normal - N
- Buyer Concession $/%
- $
- Seller Concession to Buyer
- 100000
- Seller Concession $/%
- $
- Buyer Concession to Seller
- 0
Construction
- Stucco
- Yes
- Metal
- Yes
Roofing
- Built-Up
- Yes
- Foam
- Yes
Floors
- Other
- Yes
Income & Expenses
- Annual Elec Exp
- 79745
- Annual Gas Exp
- 438
- Annual Ins Exp
- 5224
- Annual Land Lse Exp
- 0
- Annual Landscape Exp
- 5800
- Annual Legal & Acctg
- 2400
- Annual Maint Exp
- 27800
- Annual Mgmt Exp
- 27300
- Annual Trash Exp
- 7843
- Annual Wtr/Swr Exp
- 6500
- Owner Association
- No
- Annual Ownr Asoc Fee
- 0
- Annual PAD Fee
- 0
- Annual Rplcmnt Rsrvs
- 20000
- Annual Other Expense
- 0
- Operating Exp
- 242050
- Other Income
- 0
- Vacancy Allowance
- 0.1
- Adjusted Gross Inc
- 503691.3
Building Type
- Commercial
- Yes
- Office
- Yes
Business Type
- Dental
- Yes
- Service Business
- Yes
- Medical
- Yes
- Professional/Office
- Yes
Stories
- 3 - 4 Stories
- Yes
Pmt & Rate Info
- Cap Rate
- 7.12
- Down Payment
- 0
- Equity
- 4250000
- Total Owed
- 0
- Assessment Balance
- 0
Ceiling Height
- 8.1 Feet to 10 Feet
- Yes
Heating
- Heat Pump
- Yes
- Electric
- Yes
- 2 or More Units
- Yes
- Other
- Yes
- See Remarks
- Yes
Cooling
- Central Air
- Yes
- Office A/C
- Yes
- Chiller System
- Yes
Interior Features
- Finished
- Yes
Loading Facilities
- None
- Yes
Road Surface Type
- Asphalt
- Yes
Exterior
- Corner Lot
- Yes
- Landscaping
- Yes
- Building Sign
- Yes
- Monument Sign
- Yes
Source of Fincl Data
- Owner
- Yes
Traffic Count
- Over 200,000
- Yes
Fencing
- Block
- Yes
Water Source
- City Franchise
- Yes
Building Features
- Public Elevator(s)
- Yes
Sewer
- Sewer - Public
- Yes
- Sewer - Private
- Yes
Parking Features
- Fenced
- Yes
- Free
- Yes
Electric
- APS
- Yes
Gas
- SW Gas
- Yes
New Financing
- Cash Only
- Yes
- 1031 Exchange
- Yes
Existing 1st Loan
- Other (See Rmks)
- Yes
Existing 1st Loan Type
- Not Applicable
- Yes
Existing 1st Loan Terms
- Not Applicable
- Yes
Existing 2nd Loan
- Other (See Remarks)
- Yes
Existing 2nd Loan Type
- Not Applicable
- Yes
Existing 2nd Loan Terms
- Not Applicable
- Yes
Existing 3rd Loan
- Other (See Remarks)
- Yes
Existing 3rd Loan Type
- Not Applicable
- Yes
Reports/Disclosures
- Seller Prop Disc Stm
- Yes
Existing 3rd Loan Terms
- Not Applicable
- Yes
Environmental
- None
- Yes
Existing Othr Ln Trm
- Not Applicable
- Yes
Property Features
Building Type:
Commercial; Office
Business Type:
Dental; Service Business; Medical; Professional/Office
Stories:
3 - 4 Stories
Construction:
Stucco; Metal
Roofing:
Built-Up; Foam
Floors:
Other
Ceiling Height:
8.1 Feet to 10 Feet
Heating:
Heat Pump; 2 or More Units; Other; See Remarks
Cooling:
Central Air; Office A/C; Chiller System
Loading Facilities:
None
Interior Features:
Finished
Exterior:
Corner Lot; Landscaping; Building Sign; Monument Sign
Fencing:
Block
Building Features:
Public Elevator(s)
Parking Features:
Fenced; Free
Electric:
APS
Gas:
SW Gas
Water Source:
City Franchise
Sewer:
Sewer - Public; Sewer - Private
New Financing:
Cash Only; 1031 Exchange
Source of Fincl Data:
Owner
Existing 1st Loan:
Other (See Rmks)
Existing 1st Loan Type:
Not Applicable
Existing 1st Loan Terms:
Not Applicable
Existing 2nd Loan:
Other (See Remarks)
Existing 2nd Loan Type:
Not Applicable
Existing 2nd Loan Terms:
Not Applicable
Existing 3rd Loan:
Other (See Remarks)
Existing 3rd Loan Type:
Not Applicable
Existing 3rd Loan Terms:
Not Applicable
Existing Othr Ln Trm:
Not Applicable
Road Surface Type:
Asphalt
Traffic Count:
Over 200,000
Environmental:
None
Documents
OFFERING MEMORANDUM ›
Listing Office:
Grand Canyon Realty
Last Updated: January - 14 - 2025
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