850 & 858 W ELLIOT Road, Tempe, AZ 85284
$4,300,000
Property Type:
Comm/Industry Sale
Square Footage:
24,960
Lot Size (sq. ft.):
102,001
Status:
Closed
Current Price:
$4,300,000
List Date:
5/26/2021
Last Modified:
2/25/2025
Description
• Two (2) freestanding, single-story, Class A multi-tenant office buildings
• 850 W Elliot (east building): +/- 16,000 SF - Four (4) Office Suites
• 858 W Elliot (west building): +/- 8,960 SF - Three (3) Office Suites
• Suite 102 (+/- 6,500 SF) available for owner-user to occupy or Seller will sign a 1-year lease at $23.00/PSF Modified Gross at
COE
• Ample surface & covered parking available
• Central Tempe location with convenient access to the I-10, 101, and 202 Freeways
More Information MLS# 6115796
Contract Info
Ownership: Other (See Remarks)
Current Price: $4,300,000
Sold Price: $4,300,000
Status: Closed
List Date: 2020-08-11
Location, Tax & Legal
Assessor's Map #: 90
Legal Description (Abbrev): LOT 1 ROOSEVELT COMMERCE PARK MCR 049913
Assessor's Parcel #: 21
Add'l Parcels: No
Tax Municipality: Tempe
Census Tract: 320001
Taxes: 65555
Legal: LOT 1 ROOSEVELT COMMERCE PARK MCR 049913
Map Code/Grid: S36
House Number: 850 & 858
Compass: W
Street Name: ELLIOT
St Suffix: Road
City/Town Code: Tempe
State/Province: AZ
Zip Code: 85284
Zip4: 1206
County Code: Maricopa
Subdivision: ROOSEVELT COMMERCE PARK
Assessor Number: 301-90-021
Tax Year: 2020
General Property Description
Ttl Apx SqFt Bldg: 24960
# of Buildings: 2
Uncvrd Parking Spcs: 48
Year Built: 2001
Zoning: GID
Legal Info
Range: 4E
Section: 9
Township: 1S
Lot Number: 1
Construction
Block: 1
Roofing
Other: 1
Floors
Ceramic Tile: 1
Carpet: 1
Income & Expenses
Annual Elec Exp: 40595
Annual Ins Exp: 4952
Annual Landscape Exp: 20258
Annual Maint Exp: 15440
Annual Mgmt Exp: 14000
Annual Trash Exp: 1190
Annual Wtr/Swr Exp: 6109
Owner Association: No
Annual Ownr Asoc Fee: 0
Annual Other Expense: 25916
Operating Exp: 194015
Other Income: 0
Vacancy Allowance: 0.05
Adjusted Gross Inc: 495887.65
Building Type
Office: 1
Business Type
Professional/Office: 1
Stories
1 Story: 1
Pmt & Rate Info
Cap Rate: 6.88
Equity: 4766000
Total Owed: 0
Showing Notification Methods
Text: 1
Email: 1
Phone Call: 1
Lockbox Type
None: 1
Ceiling Height
10.1 Feet to 12 Feet: 1
Heating
Electric: 1
Cooling
Central Air: 1
Interior Features
Finished: 1
Loading Facilities
None: 1
Source of Fincl Data
Other (See Remarks): 1
Fencing
None: 1
Water Source
City Franchise: 1
Sewer
Sewer - Public: 1
Parking Features
Paved: 1
Electric
Other (See Remarks): 1
Gas
None: 1
New Financing
Other (See Remarks): 1
Reports/Disclosures
Other (See Remarks): 1
Environmental
Other (See Remarks): 1
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: W Elliot Rd & S Hardy Dr
Geo Lat: 33.349662
Geo Lon: -111.952125
Status Change Info
Off Market Date: 2021-05-26
Under Contract Date: 2021-03-22
Close of Escrow Date: 2021-05-28
Sold Price: $4,300,000
Income Expenses
Gross Annual Sch Inc: 521987
Net Operating Income: 327969
Property Features
Building Type: Office
Business Type: Professional/Office
Stories: 1 Story
Construction: Block
Roofing: Other
Floors: Ceramic Tile; Carpet
Ceiling Height: 10.1 Feet to 12 Feet
Cooling: Central Air
Loading Facilities: None
Interior Features: Finished
Fencing: None
Parking Features: Paved
Electric: Other (See Remarks)
Gas: None
Water Source: City Franchise
Sewer: Sewer - Public
New Financing: Other (See Remarks)
Showing Notification Methods: Text; Email; Phone Call
Lockbox Type: None
Source of Fincl Data: Other (See Remarks)
Environmental: Other (See Remarks)
Listing Office: The Menlo Group Commercial Real Estate
Last Updated: February - 25 - 2025
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