402 W Monroe Street, Phoenix, AZ 85003 (MLS# 4727759)

402 W Monroe Street, Phoenix, AZ 85003

$3,750,000

65,774 s.f. Historic First Presbyterian Church

Virtual Tour

http://www.visualtour.com/show.asp?t=2746470&sk=13

Courtyard - viewed from atop covered walkway

Arched wall of platform with stained glass

Hand-painted ceiling above open roof beams

Commercial-type Kitchen (not operational)

Property Type: Comm/Industry Sale Square Footage: 65,744 Lot Size (sq. ft.): 86,250 Status: Closed

Current Price: $3,750,000 List Date: 3/09/2012 Last Modified: 5/23/2020

Overview

Description

One of Phoenix's most historic churches built in 1927. 65,744s.f. facility on 2 acres. Large auditorium with seating capacity for 800 including balcony. Offices, Nursery, 225+/- seat Chapel, Dance Studio, Gymnasium on 3rd Floor, multiple classrooms, kitchen, dining hall. Outdoor fenced playground. Fully air conditioned. A fire sprinkler system was installed in the early 80's. Seller may consider lease purchase. Shown by appointment only to prequalified buyers. ADDITIONAL PARCELS: 112-20-096, 098, 100, 102, 104, 106

Listing Details MLS# 4727759

Location, Tax & Legal

Map Code/Grid: Q34
House Number: 402
Compass: W
Street Name: Monroe
St Suffix: Street
City/Town Code: Phoenix
State/Province: AZ
Zip Code: 85003
Zip4: 1620
County Code: Maricopa
Assessor Number: 112-20-089-A
Tax Year: 2011
Assessor's Map #: 20
Legal Description (Abbrev): Phoenix
Assessor's Parcel #: 89
Assessor Parcel Ltr: A
Add'l Parcels: Yes
Tax Municipality: Phoenix
Taxes: 0
Legal: PHOENIX MCR 2-51 LOTS 2 4 6 8 10 & 12 BLK 96 TOG W/I TH PT ABAND ALLEY LY NLY & ADJ TO SD LOTS DESC P/F 05-0762767
Marketing Name: First Presbyterian Church

Contract Info

Ownership: Fee Simple

General Property Description

Type of Property: Religious
Ttl Apx SqFt Bldg: 65744
# of Buildings: Yes
Lot Size Dimensions: Irregular
Year Built: 1927
Uncvrd Parking Spcs: 138
Zoning: C-3

Remarks Misc

Cross Street: W Monroe & 4th Ave
Directions: One block S. of Van Buren between 4th & 6th Ave.

Status Change Info

Off Market Date: 2012-06-11
Under Contract Date: 2012-06-10
Close of Escrow Date: 2012-10-01

Legal Info

Lot Number: 2,4,6,8,10,12

More Information

Sold Info

Loan Type: Bond/IDA
Loan Years: 25
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

Roofing

Tile: Yes

Floors

Concrete: Yes
Vinyl: Yes
Wood: Yes
Ceramic Tile: Yes
Carpet: Yes

Income & Expenses

Annual Elec Exp: 1
Annual Gas Exp: 1
Annual Ins Exp: 1
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: 1
Owner Association: No
Annual Ownr Asoc Fee: 0
Annual PAD Fee: 0
Annual Rplcmnt Rsrvs: 0
Annual Other Expense: 0
Operating Exp: 4
Other Income: 0
Vacancy Allowance: 0
Adjusted Gross Inc: 0

Building Type

Other (See Remarks): Yes

Business Type

Religious Facility: Yes

Stories

3 - 4 Stories: Yes

Pmt & Rate Info

Down Payment: 3720000
Equity: 3720000
1st Encumbrance: 0
Total Owed: 0
Assessment Balance: 0

Ceiling Height

8.1 Feet to 10 Feet: Yes
28.1 Feet or Over: Yes

Heating

Natural Gas: Yes

Cooling

Central Air: Yes

Interior Features

Finished: Yes
Fire Sprinklers: Yes

Loading Facilities

None: Yes

Road Access Type

Alley: Yes
Dedicated Street: Yes

Road Surface Type

Asphalt: Yes
Concrete: Yes

Exterior

Corner Lot: Yes
Dual Street Ftg: Yes
Curb(s) & Gutter(s): Yes
Sidewalk(s): Yes

Source of Fincl Data

Owner: Yes

Traffic Count

Unknown: Yes

Fencing

Chain Link: Yes
Security: Yes

Water Source

City Franchise: Yes

Freeway/Highway

1.1 - 2 Miles: Yes

Building Features

Public Elevator(s): Yes
Basement: Yes
Conference Room: Yes
Showroom: Yes
Cafeteria: Yes
Kitchen: Yes
Raised Floor: Yes

Sewer

Sewer - Public: Yes
Sewer-In & Connected: Yes

Railroad

RlRd up to 1 Mile: Yes

Parking Features

Private: Yes
Paved: Yes

Electric

APS: Yes

Gas

SW Gas: Yes

New Financing

Cash Only: Yes
Lease Option: Yes

Existing 1st Loan

Treat as Free&Clear: Yes

Existing 1st Loan Type

Not Applicable: 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

Use Restrictions

Existing Easement(s): 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: Other (See Remarks) Business Type: Religious Facility Stories: 3 - 4 Stories Construction: Block Roofing: Tile Floors: Concrete; Vinyl; Wood; Ceramic Tile; Carpet Ceiling Height: 8.1 Feet to 10 Feet; 28.1 Feet or Over Heating: Natural Gas Cooling: Central Air Loading Facilities: None Interior Features: Finished; Fire Sprinklers Exterior: Corner Lot; Dual Street Ftg; Curb(s) & Gutter(s); Sidewalk(s) Fencing: Chain Link; Security Building Features: Public Elevator(s); Basement; Conference Room; Showroom; Cafeteria; Kitchen; Raised Floor Parking Features: Private; Paved Road Access Type: Alley; Dedicated Street Electric: APS Gas: SW Gas Water Source: City Franchise Sewer: Sewer - Public; Sewer-In & Connected Railroad: RlRd up to 1 Mile New Financing: Cash Only; Lease Option Source of Fincl Data: Owner Existing 1st Loan: Treat as Free&Clear Existing 1st Loan Type: Not Applicable 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; Concrete Traffic Count: Unknown Use Restrictions: Existing Easement(s) Environmental: None

Listing Office: AZ Brokerage Holdings, LLC

Last Updated: May - 23 - 2020