$1,150,000
Benson, AZ 85602
MLS# 2423202
Status: Closed
50646 sqft
1 / 1
Property Description
Great upside potential when fully leased. Cap rate shown is based on actual current numbers. New Alco store has added $500K to $600K in new capital improvements. Alco pays half of CAMS shown here as Other Income. Other tenants are month to month, but most have been here for some time. Unit 1 rent shown is Alco. Unit 2 rent shown is all current tenants combined. Unit 3 rent shown is total for space now vacant.
Details
Maps
Address Information
Street #: 320
Direction: S
Street Name: Ocotillo
State/Province: AZ
Zip Code: 85602
County: Cochise
Country: USA
Location Tax Legal
Tax Code: 12319008C
Area: Benson/St. David
Contract Information
Current Price: $1,150,000
Sold Price: $1,150,000
Listing Date: 2004-09-09
Status: Closed
Status Change Info
Off Market Date: 2005-03-25
Pending Date: 2004-12-29
Sold Date: 2005-03-25
Sold Price: $1,150,000
Sold Price/SqFt: 22.7
Lot Sz Sold Prc/SqFt: 5.85
Financing: Cash Owner Carryback
General Property Information
Property Sub-Type: Retail
# Units: 18
Year Built: 1974
Lot Dimensions: Irregular
Lot Acres: 4.51
Lot Sqft: 196368
Lot Size Source: Other
Combined SqFt: 50646
Source of SqFt: Owner
List Price/SqFt: 25.17
Lot Size Price/SqFt: 6.49
Remarks Misc
Geo Lat: 31.966281
Geo Lon: -110.307876
Showing Information
Directions: From Tucson east on Interstate 10 to Benson exit 303. Take exit and continue to Ocotillo (first traffic light). Turn right to property on right.
Income
Gross Scheduled Rent: 170698
Vacancy Loss: 49926
Other Income: 23244
Adjusted Gross: 144016
Total Expenses: 53049
Net Opp Income: 90967
Analysis
Cap Rate %: 7.13
Gross Rent Multi: 8.85
Vacancy Rate %: 29.24
Exp/SqFt: 1.04
Exp % of Gross: 36.83
Expenses
Figures Presented: Actual
Gas/Electric: 2100
Insurance: 7668
Taxes/Assessments: 29317
Water/Sewer: 3600
Other Expenses: 10364
Property Features
A.D.A. Compliant: Yes
Phase 1 Report: Yes
Electric
3 Phase Power: Yes
Master Meter: No
Sold Info
Down Payment: 345000
Property Features
Construction: Metal
Main Cooling: Zoned
Main Heating: Forced Air; Natural Gas
Sewer: Connected
Water: Public
Terms: Cash; Conventional; Submit
Property Disclosures: Unknown
Listing Office: Art Kelley, CCIM
Last Updated: October - 25 - 2024
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