highway 51 and indian school office building · nearest airport 6 miles from phoenix sky harbor...
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HIGHWAY 51 ANDINDIAN SCHOOLOFFICE BUILDING1710 E INDIAN SCHOOL ROADPHOENIX, AZ 85016
Judy JonesSenior Investment [email protected]
Eddie [email protected]
OFFERING SUMMARY
Sale Price: $2,500,000
Lot Size: 61,445 SF
Building Size 25,753 SF
Building Class B
Year Built 1985
Zoning: C-0/C-2
Market: Phoenix
Submarket: Midtown
Cross Streets Hwy 51 and East Indian
School Road
Traffic Count: Over 40,000 VPD
Seller financing is an option with 20-30% down, Interest only but not more than 5 years.The building is a diamond in the rough, with so many possibilities, Owner/User, Minor upgrades or a complete renovationof its Interior to attract the higher rents that are just a few miles down the road.
PROPERTY DESCRIPTION
PROPERTY HIGHLIGHTS
• 5 miles from Sky Harbor International
• West of SR 51 on Indian School Road
• 1.8 Miles from the Camelback Corridor
• Elevator Access
• Covered Parking Spaces Available
• Quiet Courtyard area
• Transit Stop in front of Building
• Great Owner User opportunity
HIGHWAY 51 AND INDIAN SCHOOL OFFICE BUILDING | 1710 E INDIAN SCHOOL ROAD PHOENIX, AZ 85016 SVN | Desert Commercial Advisors | Page 2The information presented here is deemed to be accurate, but it has not been independently verified. We make no guarantee, warranty or representation. It is your responsibility to independently confirm accuracy and completeness. All SVN® offices are independently owned and operated.
Executive Summary
HIGHWAY 51 AND INDIAN SCHOOL OFFICE BUILDING | 1710 E INDIAN SCHOOL ROAD PHOENIX, AZ 85016 SVN | Desert Commercial Advisors | Page 3The information presented here is deemed to be accurate, but it has not been independently verified. We make no guarantee, warranty or representation. It is your responsibility to independently confirm accuracy and completeness. All SVN® offices are independently owned and operated.
Seller financing is an option with 20-30% down, Interest only but not more than 5 years.The building is a diamond in the rough, with so many possibilities, Owner/User, Minor upgrades or acomplete renovation of its Interior to attract the higher rents that are just a few miles down the oad.
PROPERTY OVERVIEW
This 2 story office building screams location. Located just a few miles from the high rent district of theCamelback Corridor and within walking distance of the Phoenix Veterans Memorial Hospital. This buildinghas immediate access to both the North and South entrances to Highway 51.
Each office along the first floor opens to the courtyard, with secured access from both the North andSouth entrances. Stairwell access and existing elevator makes the 2nd floor offices accessible. Twomulti-stall ADA restrooms are located on each floor near the stairwells. While one of the empty suitesupstairs has several private restrooms.
Travel to the Phoenix Sky Harbor International Airport is just 10 minutes away and Downtown down thestreet.
LOCATION OVERVIEW
Property Description
HIGHWAY 51 AND INDIAN SCHOOL OFFICE BUILDING | 1710 E INDIAN SCHOOL ROAD PHOENIX, AZ 85016 SVN | Desert Commercial Advisors | Page 4The information presented here is deemed to be accurate, but it has not been independently verified. We make no guarantee, warranty or representation. It is your responsibility to independently confirm accuracy and completeness. All SVN® offices are independently owned and operated.
SALE PRICE $2,500,000
LOCATION INFORMATION
Building Name Highway 51 and Indian School Office Building
Street Address 1710 E Indian School Road
City, State, Zip Phoenix, AZ 85016
County/Township Maricopa
Market Phoenix
Submarket Midtown
Cross Streets Hwy 51 and East Indian School Road
Signal Intersection Yes
Road Type Highway Interchange
Market Type Large
Nearest Highway Highway 51 and the Loop 202 and Interstate 10
Nearest Airport 6 miles from Phoenix Sky Harbor International
PROPERTY DETAILS
Property Subtype Office Building
Zoning C-0/C-2
Lot Size 61,445 SF
APN# 163-28-010 / 163-28-011 / 163-28-015A / 163-28-012B
Traffic Count 40,000
Traffic Count Street East Indian School
PARKING & TRANSPORTATION
Street Parking Yes
Parking Type Surface
Parking Ratio 3.92
Number Of Spaces 54
Parking Description 54 free Surface Spaces are available; 48 Covered Spaces
UTILITIES & AMENITIES
Handicap Access Yes
Number Of Elevators 1
Central HVAC Roof Top Mounted
Property Details
HIGHWAY 51 AND INDIAN SCHOOL OFFICE BUILDING | 1710 E INDIAN SCHOOL ROAD PHOENIX, AZ 85016 SVN | Desert Commercial Advisors | Page 5The information presented here is deemed to be accurate, but it has not been independently verified. We make no guarantee, warranty or representation. It is your responsibility to independently confirm accuracy and completeness. All SVN® offices are independently owned and operated.
BUILDING INFORMATION
Building Size 25,753 SF
Building Class C
Tenancy Multiple
Number Of Floors 2
Year Built 1985
Gross Leasable Area 24 SF
Load Factor Yes
Construction Status Existing
Condition Fair
Number Of Buildings 0
Corridors Garden/Couryard
Office Buildout Tenant Specific
PROPERTY DETAILS
Property Subtype Office Building
Zoning C-0/C-2
Lot Size 61,445 SF
APN# 163-28-010 / 163-28-011 / 163-28-015A / 163-28-012B
Traffic Count 40,000
Traffic Count Street East Indian School
PARKING & TRANSPORTATION
Street Parking Yes
Parking Type Surface
Parking Ratio 3.92
Number Of Spaces 54
Parking Description 54 free Surface Spaces are available; 48 Covered Spaces
UTILITIES & AMENITIES
Handicap Access Yes
Number Of Elevators 1
Central HVAC Roof Top Mounted
Property Details
Additional Photos
HIGHWAY 51 AND INDIAN SCHOOL OFFICE BUILDING | 1710 E INDIAN SCHOOL ROAD PHOENIX, AZ 85016 SVN | Desert Commercial Advisors | Page 6The information presented here is deemed to be accurate, but it has not been independently verified. We make no guarantee, warranty or representation. It is your responsibility to independently confirm accuracy and completeness. All SVN® offices are independently owned and operated.
HIGHWAY 51 AND INDIAN SCHOOL OFFICE BUILDING | 1710 E INDIAN SCHOOL ROAD PHOENIX, AZ 85016 SVN | Desert Commercial Advisors | Page 7The information presented here is deemed to be accurate, but it has not been independently verified. We make no guarantee, warranty or representation. It is your responsibility to independently confirm accuracy and completeness. All SVN® offices are independently owned and operated.
Location Maps
HIGHWAY 51 AND INDIAN SCHOOL OFFICE BUILDING | 1710 E INDIAN SCHOOL ROAD PHOENIX, AZ 85016 SVN | Desert Commercial Advisors | Page 8The information presented here is deemed to be accurate, but it has not been independently verified. We make no guarantee, warranty or representation. It is your responsibility to independently confirm accuracy and completeness. All SVN® offices are independently owned and operated.
Location Map
HIGHWAY 51 AND INDIAN SCHOOL OFFICE BUILDING | 1710 E INDIAN SCHOOL ROAD PHOENIX, AZ 85016 SVN | Desert Commercial Advisors | Page 9The information presented here is deemed to be accurate, but it has not been independently verified. We make no guarantee, warranty or representation. It is your responsibility to independently confirm accuracy and completeness. All SVN® offices are independently owned and operated.
POPULATION 1 MILE 3 MILES 5 MILES
Total population 18,542 148,730 341,120
Median age 31.9 34.5 34.1
Median age (Male) 33.0 34.2 33.9
Median age (Female) 32.6 35.0 34.3
HOUSEHOLDS & INCOME 1 MILE 3 MILES 5 MILES
Total households 7,728 63,795 138,040
# of persons per HH 2.4 2.3 2.5
Average HH income $57,040 $58,467 $61,382
Average house value $205,522 $356,299 $358,395
ETHNICITY (%) 1 MILE 3 MILES 5 MILES
Hispanic 43.3% 39.7% 41.0%
RACE (%)
White 70.9% 78.8% 76.1%
Black 5.5% 5.3% 6.8%
Asian 3.2% 2.1% 2.2%
Hawaiian 1.0% 0.2% 0.2%
American Indian 3.5% 3.3% 2.9%
Other 13.5% 7.7% 9.5%
* Demographic data derived from 2010 US Census
Demographics Map
HIGHWAY 51 AND INDIAN SCHOOL OFFICE BUILDING | 1710 E INDIAN SCHOOL ROAD PHOENIX, AZ 85016 SVN | Desert Commercial Advisors | Page 10The information presented here is deemed to be accurate, but it has not been independently verified. We make no guarantee, warranty or representation. It is your responsibility to independently confirm accuracy and completeness. All SVN® offices are independently owned and operated.
INCOME SUMMARY 2018 ACTUALS
Rental Income $107,207
Gross Income $107,207
EXPENSE SUMMARY 2018 ACTUALS
Property Management Fee $1,800Landscaping $1,355License and Permits $120Property Taxes $35,842Repairs $13,800New A/C $23,335Parking Lot Sweeping $1,320Pest Control $1,305Elevator Maintenance $1,335Elevator Replacement $12,318Janitorial Expense $12,318Window Cleaning $1,885Insurance $6,400Utilities $37,769
Gross Expenses $150,902
Net Operating Income -$43,695
Income & Expenses
HIGHWAY 51 AND INDIAN SCHOOL OFFICE BUILDING | 1710 E INDIAN SCHOOL ROAD PHOENIX, AZ 85016 SVN | Desert Commercial Advisors | Page 11The information presented here is deemed to be accurate, but it has not been independently verified. We make no guarantee, warranty or representation. It is your responsibility to independently confirm accuracy and completeness. All SVN® offices are independently owned and operated.
TENANTNAME
UNITNUMBER
UNITSIZE (SF)
LEASESTART
LEASEEND
CURRENTRENT
ANNUALRENT
Mi Familia Vota 100 2,756 5/01/2014 4/30/2019 Current $35,828
Vacant 101/102 3,550 Current
Vacant 103 863 Current
Vacant 104 3,435 Current
Vacant 105 900 Current
Vacant 200 2,361 Current
Sierra Broadcasting 205 5,800 12/1/2013 11/30/2019 Current $69,600
Vacant 209 2,154 Current
Vacant 210 2,979 Current
Totals/Averages 24,798 $105,428
Rent Roll
HIGHWAY 51 AND INDIAN SCHOOL OFFICE BUILDING | 1710 E INDIAN SCHOOL ROAD PHOENIX, AZ 85016 SVN | Desert Commercial Advisors | Page 12The information presented here is deemed to be accurate, but it has not been independently verified. We make no guarantee, warranty or representation. It is your responsibility to independently confirm accuracy and completeness. All SVN® offices are independently owned and operated.
SUBJECT PROPERTY PRICE BLDG SF PRICE/SF CAP
Highway 51 and Indian School
Office Building
1710 E Indian School Road
Phoenix, AZ 85016
$2,500,000 25,753 SF $97.08 -1.75%
SALE COMPS PRICE BLDG SF PRICE/SF CAP CLOSE
Wellington Court4201 N 16th StPhoenix, AZ 85016
$2,800,000 25 SF $112,000.00 8.3% 02/03/2016
Commonwealth Casualty Company2500-2504 N 24th StPhoenix, AZ 85008
$3,750,000 28,054 SF $133.67 - 02/24/2016
5060 Building5060 N 40th StPhoenix, AZ 85018
$5,050,000 28,465 SF $177.41 - 08/29/2016
727 E Bethany Home Rd727 E Bethany Home Rd Bldg A-DPhoenix, AZ 85014
$2,425,000 25,512 SF $95.05 7.27% 12/10/2015
1500-1516 E Bethany Home Rd1500-1516 E Bethany Home RdPhoenix, AZ 85014
$4,700,000 28,096 SF $167.28 6.75% 12/15/2016
PRICE BLDG SF PRICE/SF CAP CLOSE
Totals/Averages $3,745,000 22,030 SF $170.00 7.44%
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Sale Comps Summary
SUBJECT PROPERTY PRICE/SF/YR AVAILABLE SF BLDG SF # OF UNITS OCCUPANCY %
Highway 51 and Indian School
Office Building
1710 E Indian School Road
Phoenix, AZ 85016
N/A 0 SF 25,753 SF - -
RENT COMPS PRICE/SF/YR AVAILABLE SF BLDG SF # OF UNITS OCCUPANCY %
Aztec Square1616 E Indian School RdPhoenix, AZ 85016
$15.00 14,510 SF 56,160 SF - -
Wellington Court4201 N 16th StPhoenix, AZ 85016
$13.50 1,984 SF 25,983 SF - -
Squaw Peak Plaza4020 N 20th StPhoenix, AZ 85016
$17.00 6,924 SF 37,571 SF - -
PRICE/SF/YR AVAILABLE SF BLDG SF # OF UNITS OCCUPANCY %
Totals/Averages $15.17 7,806 SF 39,905 SF - 0%
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HIGHWAY 51 AND INDIAN SCHOOL OFFICE BUILDING | 1710 E INDIAN SCHOOL ROAD PHOENIX, AZ 85016 SVN | Desert Commercial Advisors | Page 13The information presented here is deemed to be accurate, but it has not been independently verified. We make no guarantee, warranty or representation. It is your responsibility to independently confirm accuracy and completeness. All SVN® offices are independently owned and operated.
Rent Comps Summary
1710 E Indian School Road | Phoenix, AZ 85016
HWY 51/INDIAN SCHOOL RD OFFICE BUILDINGFOR SALE |
All SVN® Offices Independently Owned and OperatedThe information listed above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its correctness.
1 FLOOR PLANS 1 FLOOR PLANS1710 E Indian School Road
Phoenix, AZ 85016
HIGHWAY 51 AND INDIAN SCHOOL OFFICE BUILDING | 1710 E INDIAN SCHOOL ROAD PHOENIX, AZ 85016 SVN | Desert Commercial Advisors | Page 14
HIGHWAY 51 AND INDIAN SCHOOL OFFICE BUILDING | 1710 E INDIAN SCHOOL ROAD PHOENIX, AZ 85016 SVN | Desert Commercial Advisors | Page 15The information presented here is deemed to be accurate, but it has not been independently verified. We make no guarantee, warranty or representation. It is your responsibility to independently confirm accuracy and completeness. All SVN® offices are independently owned and operated.
Floor Plans
HIGHWAY 51 AND INDIAN SCHOOL OFFICE BUILDING | 1710 E INDIAN SCHOOL ROAD PHOENIX, AZ 85016 SVN | Desert Commercial Advisors | Page 16The information presented here is deemed to be accurate, but it has not been independently verified. We make no guarantee, warranty or representation. It is your responsibility to independently confirm accuracy and completeness. All SVN® offices are independently owned and operated.
Floor Plans
HIGHWAY 51 AND INDIAN SCHOOL OFFICE BUILDING | 1710 E INDIAN SCHOOL ROAD PHOENIX, AZ 85016 SVN | Desert Commercial Advisors | Page 17The information presented here is deemed to be accurate, but it has not been independently verified. We make no guarantee, warranty or representation. It is your responsibility to independently confirm accuracy and completeness. All SVN® offices are independently owned and operated.
Floor Plans
HIGHWAY 51 AND INDIAN SCHOOL OFFICE BUILDING | 1710 E INDIAN SCHOOL ROAD PHOENIX, AZ 85016 SVN | Desert Commercial Advisors | Page 18The information presented here is deemed to be accurate, but it has not been independently verified. We make no guarantee, warranty or representation. It is your responsibility to independently confirm accuracy and completeness. All SVN® offices are independently owned and operated.
Floor Plans
HIGHWAY 51 AND INDIAN SCHOOL OFFICE BUILDING | 1710 E INDIAN SCHOOL ROAD PHOENIX, AZ 85016 SVN | Desert Commercial Advisors | Page 19The information presented here is deemed to be accurate, but it has not been independently verified. We make no guarantee, warranty or representation. It is your responsibility to independently confirm accuracy and completeness. All SVN® offices are independently owned and operated.
Floor Plans
HIGHWAY 51 AND INDIAN SCHOOL OFFICE BUILDING | 1710 E INDIAN SCHOOL ROAD PHOENIX, AZ 85016 SVN | Desert Commercial Advisors | Page 20The information presented here is deemed to be accurate, but it has not been independently verified. We make no guarantee, warranty or representation. It is your responsibility to independently confirm accuracy and completeness. All SVN® offices are independently owned and operated.
Floor Plans