$1,390,000
Tucson, AZ 85705
MLS# 22004822
Status: Closed
10000 sqft
1 / 25
Property Description
Repurposed warehouse located just north of downtown. Built in 1925 the double and triple brick structure has striking architectural features including a bow truss roof system and restored steel casement warehouse windows. 5,000 square feet of the buildings former offices were converted into 12 separate creative spaces which are leased individually to established long term artist tenants and other creative office space users. The adjacent 5,000 square feet is occupied by a successful local CrossFit gym who has a long-term lease. Building upgrades in 2015 include: new insulated roof system, electrical improvements and HVAC. Clean Phase I & II reports available. Solid NOI, zero vacancy with waiting list, stable long-term tenants and initial plans for another building on the site.
Details
Maps
Documents
Address Information
Street #: 301
Direction: W
Street Name: 4th
Suffix: Street
State/Province: AZ
Zip Code: 85705
County: Pima
Country: USA
Location Tax Legal
Tax Code: 117-04-1780
Area: Central
Contract Information
Current Price: $1,390,000
Sold Price: $1,390,000
Listing Date: 2020-02-18
Status: Closed
Method of Title: Fee (Simple)
Short Sale: No
Status Change Info
Off Market Date: 2021-04-07
Pending Date: 2021-07-01
Sold Date: 2021-07-07
Sold Price: $1,390,000
Sold Price/SqFt: 139
Lot Sz Sold Prc/SqFt: 40.48
Financing: Cash
Showing Information
Directions: From Speedway and Main, south on Main to 4th Street (just before railroad track crossing), east to address.
General Property Information
Property Sub-Type: Other
Construction Status: Existing
Multi-Tenant: Yes
Year Built: 1925
Lot Dimensions: Irregular
Lot Acres: 0.79
Lot Sqft: 34334
Lot Size Source: Assessor
Combined SqFt: 10000
Source of SqFt: Assessor
List Price/SqFt: 160
Lot Size Price/SqFt: 46.6
Remarks Misc
Geo Lat: 32.230057
Geo Lon: -110.976697
Income
Gross Scheduled Rent: 115530
Analysis
Cap Rate %: 7.22
Unit Information
Office: Warehouse
Other: CrossFit Gym
Property Features
Phase 1 Report: Yes
Space Information
Ceiling Height: 20+ft
Electric
Electric Company: TEP
3 Phase Power: Yes
Master Meter: Yes
Security
Other: Security Screens
Fence
Other: Expanded Metal
Property Features
Property Features: Skylight
Construction: Brick
Roof: Built-Up - Reflect; Foam
Fenced Storage: Yes
Main Cooling: Central Air; Evaporative Cooling; Zoned
Main Heating: Electric; Heat Pump; Zoned
Water Heater: Electric
Gas: None
Sewer: Connected
Water: Public
Accessibility Option: Door Levers
Security: Alarm Installed; Closed Circuit Camera(s); Security Lights
Green Features: Bath Exhaust Out; Dual-Flush Toilets; Infill Site
Landscape - Front: Decorative Gravel; Desert Plantings; Low Care; Trees
Landscape - Rear: Trees
Road Type: Paved
Parking: Fenced Parking; Free; Paved Parking
Lot Features: Adjacent to Rail; Corner Lot
Business Location: Free Standing Bldg; Redevelopment Area
Traffic Count: Not Available; Unknown
Terms: Submit
Possession: See Remarks
Submit With Offer: Proof of Funds
Property Disclosures: Appraisal; Floor Plan; Lead Based Paint; Leases; Military Airport Vct; Public Airport Vcty; Seller Prop Disclosure
Special Conditions: None
Lead Paint Discl 
Listing Office: Southwest Urban
Last Updated: December - 13 - 2024
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