14040 N CAVE CREEK Road, Phoenix, AZ 85022 (MLS# 5861701)

14040 N CAVE CREEK Road, Phoenix, AZ 85022

$4,500,000

Property Type: Comm/Industry Sale Square Footage: 47,397 Lot Size (sq. ft.): 114,519 Status: Closed

Current Price: $4,500,000 List Date: 3/06/2020 Last Modified: 1/21/2025

Overview

Description

C2 Fantastic Opportunity to own a 47,000sf+ property on nearly 3 acres! Only $116/sf and 92% occupied (occupancy increasing)! Occupied spaces have been nicely updated/remodeled! Suites features area with 18 executive offices as well as 19 salon suites area - higher return/sf $15.39 now! Property has undergone vast improvements and continues to do so; improvements already completed are roof, parking, LED lighting, programmable thermostats, new kitchens and more! Exterior paint in progress, new cooling tower (all stainless steel) has been ordered and installed this winter. Property is 3 stories and features gorgeous mountain views! Center atrium features large fountain/pond with a variety of koi fish. Conveniently located near 51 and 101 freeways! 10 Min to PV, Scottsdale, Desert Ridg

Listing Details MLS# 5861701

Location, Tax & Legal

Map Code/Grid: L35
House Number: 14040
Compass: N
Street Name: CAVE CREEK
St Suffix: Road
City/Town Code: Phoenix
State/Province: AZ
Zip Code: 85022
County Code: Maricopa
Assessor Number: 214-51-004-E
Tax Year: 2019
Assessor's Map #: 51
Legal Description (Abbrev): COM S4 COR SEC TH E 1098.20F TH N 15D 24M E 1068.38F TH N 74D 35M W 55F TPOB TH N 15D 24M E 458.
Assessor's Parcel #: 4
Assessor Parcel Ltr: E
Add'l Parcels: Yes
Tax Municipality: Phoenix
Census Tract: 103607
Taxes: 55395
Legal: COM S4 COR SEC TH E 1098.20F TH N 15D 24M E 1068.38F TH N 74D 35M W 55F TPOB TH N 15D 24M E 458.

Contract Info

Ownership: Fee Simple

General Property Description

Ttl Apx SqFt Bldg: 47397
# of Buildings: Yes
Year Built: 1986
Uncvrd Parking Spcs: 129
Zoning: C2

Remarks Misc

Cross Street: Cave Creek Road and Cactus
Directions: North of Cactus and Cave Creek Road, on West Side of Road

Status Change Info

Off Market Date: 2020-03-06
Under Contract Date: 2019-11-27
Close of Escrow Date: 2020-03-15

Legal Info

Township: 3N
Range: 3E
Section: 10

More Information

Income Expenses

Net Operating Income: 471000

Contact Info

List Agent Home Phn: 480-255-7327

Sold Info

Loan Type: Conventional
Loan Years: 30
Payment Type: Fixed
Clsing Cost Split: Normal - N
Buyer Concession $/%: $
Seller Concession $/%: $
Buyer Concession to Seller: 0
Seller Concession to Buyer: 0

Construction

Block: Yes
Metal: Yes
Other: Yes

Roofing

Foam: Yes
Rolled: Yes

Floors

Vinyl: Yes
Wood: Yes
Ceramic Tile: Yes
Carpet: Yes
Other: Yes

Income & Expenses

Annual Elec Exp: 0
Annual Gas Exp: 0
Annual Ins Exp: 0
Annual Land Lse Exp: 0
Annual Landscape Exp: 0
Annual Legal & Acctg: 0
Annual Maint Exp: 0
Annual Mgmt Exp: 0
Annual Trash Exp: 0
Annual Wtr/Swr Exp: 0
Owner Association: No
Annual Ownr Asoc Fee: 0
Annual PAD Fee: 0
Annual Rplcmnt Rsrvs: 0
Annual Other Expense: 0
Operating Exp: 55395
Other Income: 0
Vacancy Allowance: 0
Adjusted Gross Inc: 0

Building Type

Commercial: Yes
Office: Yes
Other (See Remarks): Yes

Business Type

Dental: Yes
Mixed: Yes
Medical: Yes
Professional/Office: Yes
Other: Yes
See Remarks: Yes

Stories

3 - 4 Stories: Yes

Pmt & Rate Info

Cap Rate: 8.57
Down Payment: 0
Equity: 5495000
Total Owed: 0
Assessment Balance: 0

Lockbox Type

None: Yes

Ceiling Height

8 Feet or Less: Yes
8.1 Feet to 10 Feet: Yes

Heating

Heat Pump: Yes
Electric: Yes
Other: Yes
See Remarks: Yes

Cooling

Office A/C: Yes
Chiller System: Yes
Other: Yes
See Remarks: Yes

Interior Features

Finished: Yes
Finished to Suit: Yes
Phone System: Yes
Private Restrooms: Yes
Public Restrooms: Yes

Loading Facilities

None: Yes

Road Surface Type

Asphalt: Yes

Source of Fincl Data

Projected Proforma: Yes

Traffic Count

15,001 to 25,000: Yes

Fencing

None: Yes

Water Source

City Franchise: Yes

Sewer

Sewer - Public: Yes

Parking Features

Free: Yes
Parking Lot: Yes
Paved: Yes

Electric

APS: Yes

Gas

SW Gas: Yes

New Financing

Cash Only: Yes
1031 Exchange: Yes
Trade: Yes
Lease Option: Yes
Lease: Yes

Special

Owner/Agent: Yes

Existing 1st Loan

Treat as Free&Clear: Yes

Existing 1st Loan Type

Fixed: Yes

Existing 1st Loan Terms

Not Applicable: Yes

Existing 2nd Loan

Treat as Free&Clear: Yes

Existing 2nd Loan Type

Not Applicable: Yes

Existing 2nd Loan Terms

Not Applicable: Yes

Existing 3rd Loan

Treat as Free&Clear: Yes

Existing 3rd Loan Type

Not Applicable: Yes

Reports/Disclosures

None: Yes

Existing 3rd Loan Terms

Not Applicable: Yes

Environmental

None: Yes

Existing Othr Ln Trm

Not Applicable: Yes

Property Features

Building Type: Commercial; Office; Other (See Remarks) Business Type: Dental; Mixed; Medical; Professional/Office; Other; See Remarks Stories: 3 - 4 Stories Construction: Block; Metal; Other Roofing: Foam; Rolled Floors: Vinyl; Wood; Ceramic Tile; Carpet; Other Ceiling Height: 8 Feet or Less; 8.1 Feet to 10 Feet Heating: Heat Pump; Other; See Remarks Cooling: Office A/C; Chiller System; Other; See Remarks Loading Facilities: None Interior Features: Finished; Finished to Suit; Phone System; Private Restrooms; Public Restrooms Fencing: None Parking Features: Free; Parking Lot; Paved Electric: APS Gas: SW Gas Water Source: City Franchise Sewer: Sewer - Public New Financing: Cash Only; 1031 Exchange; Trade; Lease Option; Lease Lockbox Type: None Special: Owner/Agent Source of Fincl Data: Projected Proforma Existing 1st Loan: Treat as Free&Clear Existing 1st Loan Type: Fixed Existing 1st Loan Terms: Not Applicable Existing 2nd Loan: Treat as Free&Clear Existing 2nd Loan Type: Not Applicable Existing 2nd Loan Terms: Not Applicable Existing 3rd Loan: Treat as Free&Clear Existing 3rd Loan Type: Not Applicable Existing 3rd Loan Terms: Not Applicable Existing Othr Ln Trm: Not Applicable Road Surface Type: Asphalt Traffic Count: 15,001 to 25,000 Environmental: None

Listing Office: Prestige Realty

Last Updated: January - 21 - 2025