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CUTLER COMMERCIAL 2150 E Highland Ave, Ste 207 Phoenix, Arizona 85016 602.955.3500 Phone 602.955.2828 Fax www.cutlercommercial.com

ROD CROTTY

ASSOCIATE BROKER

(602) 386-1225

[email protected]

SOUTH WILBUR STREET

1121

Mesa, Arizona

Leased Multi-Tenant Warehouse Buildings

All information furnished is from sources deemed reliable. No representation is made as to the accuracy thereof and it is submitted subeect to errors omissions chanees or iithdraial iithout notice and to any special listines conditions includine the rate and manner of payment of commissions for particular offerines imposed by principals or aereed to by the company the terms of ihich are available to interested principals or brokers. All dimensions are approximate. Owner and/or Broker make no representations expressed or implied as to the accuracy of floor plan/site plan dimensions.

TABLE OF CONTENTS

CONFIDENTIALITY STATEMENT

OFFERING SUMMARY

- 1121 S. WILBUR PROPERTY SUMMARY

BUILDING PHOTOS

AERIAL PHOTO

SITE PLAN

INCOME/EXPENSE ANALYSIS

CONTACT

Rod Crotty

Associate Broker

602.386.1225

[email protected]


This Confidentiality Offering Memorandum has been prepared by Cutler Commercial for use

by a limited number of parties whose sole purpose is to evaluate the possible purchase of the

subject property. This Memorandum has been prepared to provide summary, unverified infor-

mation to prospective purchasers, and to establish only a preliminary level of interest in the

subject property. The information contained herein is not a substitute for a thorough due dili-

gence investigation.

The information contained in this Memorandum has been obtained from sources we believe

to be reliable. While we do not doubt its accuracy, we have not verified it and make no guar-

antee, warranty, or representation about it. It is your responsibility to independently confirm its

accuracy and completeness. Any projections, opinions, assumptions or estimates used, are

for example only, and do not represent the current or future performance of the property. The

value of this transaction to you depends on taxes and other factors which should be evaluat-

ed by your tax, financial and legal advisors. You and your advisors should conduct a careful,

independent investigation of the property to determine, to your satisfaction, the suitability of

the property for your needs. All potential buyers must take appropriate measures to verify all

of the information set forth herein. Both Cutler Commercial and the Owner disclaim any re-

sponsibility for inaccuracies and expect prospective purchasers to exercise independent due

diligence in verifying all such information. The contained information is subject to change at

anytime and without notice. The recipient of the Memorandum shall not look to the Owner or

Cutler Commercial for the accuracy or completeness of this Memorandum.

A prospective purchaser must make its own independent investigations, projections and con-

clusions, regarding the acquisition of the property without reliance on this Memorandum or

any other Confidential Information, written or verbal from the Broker or the Seller. The Owner

expressly reserves the right, at its sole discretion, to reject any offer to purchase the property or

to terminate any negotiations with any party, at any time, with or without written notice. Only

a fully-executed Real Estate Purchase Agreement, approved by Seller, shall bind the property.

Each prospective purchaser and/or broker proceeds at its own risk.

All property showings are by appointment only.

CONFIDENTIALITY STATEMENT/CONDITIONS OF OFFERING


OFFERING SUMMARY | PROPERTY SUMMARY—1121 S. WILBUR

Property Address: 1121 South Wilbur Street

Mesa, AZ 85210

Parcel Number: 139-31-054 & 139-31-055

Land Area: ± 1.00 Acres (43,560 Sq. Ft.)

Zoning: M-1

Building Size: ±15,000 Sq. Ft.

Clear Height: +/- 12’ Clear

Drive-Ins: 22 (10’ x 10’) Overhead Doors

Construction: Metal

Occupancy: 100%


The Offering consists of a leased Multi-Tenant Warehouse Building of approximately 15,000 square feet

(1121 South Wilbur, Mesa, Arizona). The 1121 South Wilbur property is located at Mesa Drive, one half

mile north of the Superstition Freeway (US 60).

The Offering Price for this 15,000 +/- square foot building is $1,093,000 or approximately $72.87 +/-

per square foot.

The suite sizes for 1121 South Wilbur are 1,250 to 3,000 +/- square feet.

Each unit is separately metered for electric, has its own restroom and a grade level overhead door. The

percentage of office space in the 1121 South Wilbur property is approximately 10% and the balance of

the suites are warehouse.

Building Photos—1121 SOUTH WILBUR


Aerial Photos—1121 SOUTH WILBUR


Site Plan—1121 SOUTH WILBUR


ALL SQUARE FOOTAGES ARE APPROXIMATE

Income/Expense Analysis—1121 SOUTH WILBUR


ESTIMATED BUILDING VALUES

1121 SOUTH WILBUR

ESTIMATED 2018 GROSS ANNUAL RENTAL INCOME: $107 322

(CURRENT AVERAGE RENT $.60/SF/MONTHLY +/-)

ESTIMATED RECOVERABLE EXPENSES: $7 971

LESS 5% VACANCY RESERVE: ($5 765)

ADJUSTED GROSS INCOME: $109 528

LESS ESTIMATED 2018 OPERATING EXPENSES:

PROPERTY TAXES: 2018 ($9 767)

INSURANCE: ($3 350)

MANAGEMENT: ($4 500)

COMMON AREA: ($2 087)

LANDSCAPING: ($2 665)

WATER/SEWER: ($3 216)

TRASH: ($1 582)

LOT SWEEPING: ($504)

PEST CONTROL: ($1 872)

REPAIRS & MAINTENANCE @ $0.55/sf ($8 400)

HOUSE ELECTRIC ($1 652)

TOTAL ESTIMATED EXPENSES: ($39 595)

NET OPERATING INCOME: $69 933

SALES PRICE: $1 093 000

CAP RATE: 6.4%

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