1534 E RAY Road, Gilbert, AZ 85296
$4,200,000
Property Type:
Comm/Industry Sale
Square Footage:
24,209
Lot Size (sq. ft.):
128,287
Status:
Closed
Current Price:
$4,200,000
List Date:
5/23/2014
Last Modified:
2/18/2015
Description
Great neighboorhood retail property at 94% occupancy. Good tenant mix with long term tenants and leases.
More Information MLS# 5120343
Contract Info
Ownership: Fee Simple
Current Price: $4,200,000
Sold Price: $4,200,000
Status: Closed
List Date: 2014-05-23
Location, Tax & Legal
Assessor's Map #: 25
Legal Description (Abbrev): WESTERN SKIES VILLAGE
Assessor's Parcel #: 915
Add'l Parcels: No
Tax Municipality: Gilbert
Census Tract: 814500
Taxes: 40086.62
Legal: WESTERN SKIES VILLAGE MCR 558-21
Marketing Name: Western Skies Village
Map Code/Grid: T40
House Number: 1534
Compass: E
Street Name: RAY
St Suffix: Road
City/Town Code: Gilbert
State/Province: AZ
Zip Code: 85296
Zip4: 4429
County Code: Maricopa
Assessor Number: 304-25-915
Tax Year: 2013
General Property Description
Type of Property: Commercial Retail
Ttl Apx SqFt Bldg: 24209
# of Buildings: 1
Uncvrd Parking Spcs: 96
Year Built: 2002
Zoning: NC
Legal Info
Range: 6E
Section: 20
Township: 1S
Lot Number: 4
Construction
Block: 1
Roofing
Rolled: 1
Floors
Concrete: 1
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
Other Income: 0
Vacancy Allowance: 0
Adjusted Gross Inc: 0
Building Type
Commercial: 1
Business Type
Dental: 1
Mixed: 1
Religious Facility: 1
Restaurant: 1
Medical: 1
Retail: 1
Stories
1 Story: 1
Pmt & Rate Info
Down Payment: 50000
Equity: 5023500
Total Owed: 0
Assessment Balance: 0
Ceiling Height
10.1 Feet to 12 Feet: 1
Heating
Electric: 1
Cooling
Heat Pump: 1
Interior Features
Finished: 1
Fire Sprinklers: 1
Private Restrooms: 1
Loading Facilities
None: 1
Road Surface Type
Asphalt: 1
Exterior
Sprinkler System-Ground: 1
Landscaping: 1
Building Sign: 1
Monument Sign: 1
Source of Fincl Data
Projected Proforma: 1
Traffic Count
35,001 to 50,000: 1
Fencing
Block: 1
Water Source
City Franchise: 1
Freeway/Highway
1.1 - 2 Miles: 1
Sewer
Sewer - Public: 1
Parking Features
Free: 1
Private: 1
Paved: 1
Electric
SRP: 1
Gas
SW Gas: 1
New Financing
Cash Only: 1
Existing 1st Loan
Private: 1
Treat as Free&Clear: 1
Existing 1st Loan Type
Fixed: 1
Existing 1st Loan Terms
Non Assumable: 1
Existing 2nd Loan
Other (See Remarks): 1
Existing 2nd Loan Type
Not Applicable: 1
Existing 2nd Loan Terms
Not Applicable: 1
Existing 3rd Loan
Other (See Remarks): 1
Use Restrictions
CC&R's: 1
Currently Leased: 1
Existing 3rd Loan Type
Not Applicable: 1
Reports/Disclosures
None: 1
Existing 3rd Loan Terms
Not Applicable: 1
Environmental
None: 1
Existing Othr Ln Trm
Not Applicable: 1
Contact Info
List Agent Cell Phn2: (602) 501-7199
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 $/%: $
Remarks Misc
Cross Street: Ray Road & Val Vista Drive
Directions: Loop 202 San Tan Freeway East, exit Val Vista Dr, Head North on Val Vista and turn West on Ray Rd. Turn into the property at either one of the 2 access drives either by Discount Tire or Dunn Edwards.
Geo Lat: 33.322386
Geo Lon: -111.757171
Status Change Info
Off Market Date: 2015-02-18
Under Contract Date: 2014-10-16
Close of Escrow Date: 2015-01-19
Sold Price: $4,200,000
Property Features
Building Type: Commercial
Business Type: Dental; Mixed; Religious Facility; Restaurant; Medical; Retail
Stories: 1 Story
Construction: Block
Roofing: Rolled
Floors: Concrete
Ceiling Height: 10.1 Feet to 12 Feet
Cooling: Heat Pump
Loading Facilities: None
Interior Features: Finished; Fire Sprinklers; Private Restrooms
Exterior: Sprinkler System-Ground; Landscaping; Building Sign; Monument Sign
Fencing: Block
Parking Features: Free; Private; Paved
Electric: SRP
Gas: SW Gas
Water Source: City Franchise
Sewer: Sewer - Public
New Financing: Cash Only
Source of Fincl Data: Projected Proforma
Existing 1st Loan: Private; Treat as Free&Clear
Existing 1st Loan Type: Fixed
Existing 1st Loan Terms: Non Assumable
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: 35,001 to 50,000
Use Restrictions: CC&R's; Currently Leased
Environmental: None
Listing Office: Preserve Property Management LLC
Last Updated: February - 18 - 2015
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