8285 W UNION HILLS Drive, Glendale, AZ 85308 (MLS# 5891271)

8285 W UNION HILLS Drive, Glendale, AZ 85308

$5,050,000

Property Type: Comm/Industry Sale Square Footage: 9,690 Lot Size (sq. ft.): 56,086 Status: Closed

Current Price: $5,050,000 List Date: 3/04/2019 Last Modified: 7/02/2019

Overview

Description

Highly sought-after opportunity to purchase this multi-tenant retail strip center shadow anchored by two prominent retail giants, Walmart and Sam's Club. The subject property is comprised of 9,690 square feet, and is currently occupied by four widely known tenants. This property offers premium frontage along W. Union Hills Dr., with close proximity to Arrowhead Towne Center, Peoria Sports Complex, and the Loop 101. The property is surrounded by several big-name retailers which draw customers into the area. This property boasts local, regional, and national tenants, making this an attractive investment with advantageous tenant synergy .

Listing Details MLS# 5891271

Location, Tax & Legal

Assessor's Map #: 43
Legal Description (Abbrev): POR NW4 SEC 35 DAF COM NW COR SD SEC 35 TH E 442.22F TH S 65F TO TPOB TH E 229.55F TO NON-TAN CUR CO
Assessor's Parcel #: 3
Assessor Parcel Ltr: U
Add'l Parcels: No
Tax Municipality: Glendale
Census Tract: 617700
Taxes: 28748
Legal: POR NW4 SEC 35 DAF COM NW COR SD SEC 35 TH E 442.22F TH S 65F TO TPOB TH E 229.55F TO NON-TAN CUR CO

Contract Info

Ownership: Fee Simple

General Property Description

Ttl Apx SqFt Bldg: 9690
# of Buildings: Yes
Uncvrd Parking Spcs: 49

Legal Info

Range: 1E
Section: 35

Construction

Block: Yes

Roofing

Other: Yes

More Information

Floors

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

Income & Expenses

Annual Elec Exp: 2098
Annual Gas Exp: 0
Annual Ins Exp: 2950
Annual Land Lse Exp: 0
Annual Landscape Exp: 7200
Annual Legal & Acctg: 0
Annual Maint Exp: 5280
Annual Mgmt Exp: 13525
Annual Trash Exp: 4055
Annual Wtr/Swr Exp: 5946
Owner Association: Yes
Annual Ownr Asoc Fee: 0
Annual PAD Fee: 0
Annual Rplcmnt Rsrvs: 0
Annual Other Expense: 0
Other Income: 0
Vacancy Allowance: 0
Adjusted Gross Inc: 0

Building Type

Commercial: Yes

Business Type

Retail: Yes

Stories

1 Story: Yes

Pmt & Rate Info

Cap Rate: 6.63
Down Payment: 0
Equity: 5200000
Total Owed: 0
Assessment Balance: 0

Ceiling Height

8.1 Feet to 10 Feet: Yes

Heating

Electric: Yes

Cooling

Central Air: Yes

Interior Features

Finished to Suit: Yes
Fire Sprinklers: Yes

Loading Facilities

None: Yes

Road Surface Type

Asphalt: Yes

Exterior

Corner Lot: Yes

Source of Fincl Data

Unknown: Yes

Traffic Count

25,001 to 35,000: Yes

Fencing

None: Yes

Water Source

City Franchise: Yes

Freeway/Highway

Up to 1 Mile: Yes

Sewer

Sewer - Public: Yes

Parking Features

Paved: Yes

Electric

Other (See Remarks): Yes

Gas

Other (See Remarks): Yes

New Financing

Other (See Remarks): 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

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

Sold Info

Loan Type: Cash
Payment Type: Other
Clsing Cost Split: Normal - N
Buyer Concession to Seller: 0
Buyer Concession $/%: $
Seller Concession to Buyer: 0
Seller Concession $/%: $

Listing Office: R.O.I. Properties

Last Updated: July - 02 - 2019

8285 W UNION HILLS Drive, Glendale, AZ 85308 (MLS# 5891271)