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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
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
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.
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
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.
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%
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.
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
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.
Aerial Photos—1121 SOUTH WILBUR
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.
Site Plan—1121 SOUTH WILBUR
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.
ALL SQUARE FOOTAGES ARE APPROXIMATE
Income/Expense Analysis—1121 SOUTH WILBUR
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.
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%