2782 W State Route 89a, Sedona, AZ 86336 (MLS# 519497)


$1,090,000
2782 W State Route 89a
Sedona, AZ 86336
MLS# 519497
4528 sqft


Plaza Del Oeste
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Plaza Del Oeste Plaza Del Oeste from Hwy 89A Close-up of Plaza Del Oeste Entryway into courtyard Courtyard Apartment overlooks courtyard View to northwest View to east Marquee

Property Description
Western style office complex on 89A in west Sedona. Ten professional rentals plus an upstairs apartment overlooking a landscaped courtyard with trees and a fish pond. 100% occupied for the last 7 years except for the apartment, which normally gets rented before it becomes vacant. 5 restrooms in all; some shared between tenants. Owner is willing to carry with large down. Existing first mortgage is $477,000. Buyer would be also wise to take advantage of the current low interest rate environment. This is a smooth running little complex. The space sizes are attractive to small businesses. See Supplement for more details. At the price of $1,090,000 the owner is obtaining a cap rate of 6.68%.The owner voluntarily performs management and maintenance. A tenant list is available upon request.

Details
Documents
Contract Information
Area: 42 - West Sedona
Subdivision: Commercial Only
Sub-Type: Commercial
Listing Price: 1090000
Current Price: $1,090,000
List Price/SqFt: 240.72
Status: Active
Listing Date: 2019-04-16
Location
County: Yavapai
Tax Parcel: 408-24-106
Street # (Modifier): 2782
Direction: W
Street Name: State Route 89a
City/Town Code: Sedona
State/Province: AZ
Zip Code: 86336
Zip + 4: 5114
General Property Description
Lot Acreage: 0.41
Lot Size Source: County Assessor
Lot Dimensions: 101 x 210 x 75 x 208
Zoning: CO
Apx Total SF: 4528
SqFt Source: County Assessor
Year Built: 1981
# of Floors: 1
# of Buildings: 1
Tax & Legal Info
Sign: Yes
Pet Privileges: No
Amount of Taxes: 8836
Tax Year: 2019
Business Info
Business Name: Plaza Del Oeste
Business Type: Commercial Rentals
Year Established: 1981
R. E. Incl: Yes
Condo: No
Grs Vol p/Year $: 97548
Net Vol p/Year $: 68941
Lease Expiration/Trm: Mostly annual renewals
Remarks & Misc
Legal: IRREG PCL BY M&B CONT .42AC BEGAT SW COR OF HARMONY HILLSSUB & FR NTG 101' ON N R/W LINE HWY 89A OF & IN SE4 SW4
Directions: On Highway 89A, located about 400' east of Southwest Drive and 400' west of Harmony Drive. Directly east of large vacant property.
Heating
Forced Gas: Natural Gas
Property Features
Baths: Interior; Single
Cooling: Evaporative; Individual AC
Construction: Block; Frame - Wood
Commercial Amenities: None
External Amenities: Landscape; Patio/Deck; Sprinkler/Drip
Floors: Concrete; Laminate; Sheet Vinyl; Tile; Wood; Other - See Remarks
Heating: Heat Pump; Wall Heater
Internal Amenities: Ceiling Fan; Fire/Smoke Alarm
Management: Owner
Occupancy: Rented
Possession: At Recordation; Subject To Tenant Rights
Road Access: Paved; Other - See Remarks
Road Maintenance: Other - See Remarks
Roof Materials: Metal; Rolled/Hot Mop; Shake
On-Site Water Trtmnt: None
Type Building: 5 or More Units; Office; Retail
Terms Available: 1031 Exchange; Cash; Cash to New Loan
Utilities Included: 220; Cable TV; Electricity; Master Meter; Natural Gas; Private Water; Sewer (Public); Telephone; Underground
Water Heater: Electric; Natural Gas
Parking Spaces: 20+ Cars; Off Street
Special Conditions: N/A
Supplements
Year ending 11-30-19; 12 month Income and Expense Summary: Scheduled Annual Income: $97,548 Minus Vacancy Factor: 0% Gross Annual Income: $97,548 Annual Expenses: Water 917 Sewer 1,378 Gas 1,021 Electric 585 Trash 1,512 Maintenance & Repairs 4,877 (5.0%) Taxes (Real Estate) 8,835 Taxes (Rent) 3,404 (3.5%) Insurance 2,253 Total annual expenses: $24,782 $72,766 Net Operating Income At the asking price of $1,090,000 the property is showing a cap rate of 6.68%.

Listing Office: Sound Investments

Last Updated: March - 26 - 2020

Information deemed reliable but not guaranteed.

Wednesday 1st of April 2020 07:32 PM