850 & 858 W ELLIOT Road, Tempe, AZ 85284
$4,300,000
Property Type: Comm/Industry Sale Square Footage: 24,960 Lot Size (sq. ft.): 102,001 Status: Closed
Current Price: $4,300,000 List Date: 5/26/2021 Last Modified: 2/25/2025
Description
• Two (2) freestanding, single-story, Class A multi-tenant office buildings
• 850 W Elliot (east building): +/- 16,000 SF - Four (4) Office Suites
• 858 W Elliot (west building): +/- 8,960 SF - Three (3) Office Suites
• Suite 102 (+/- 6,500 SF) available for owner-user to occupy or Seller will sign a 1-year lease at $23.00/PSF Modified Gross at
COE
• Ample surface & covered parking available
• Central Tempe location with convenient access to the I-10, 101, and 202 Freeways
More Information MLS# 6115796
Contract Info
Ownership: Other (See Remarks) Current Price: $4,300,000 Sold Price: $4,300,000 Status: Closed List Date: 2020-08-11
Location, Tax & Legal
Assessor's Map #: 90 Legal Description (Abbrev): LOT 1 ROOSEVELT COMMERCE PARK MCR 049913 Assessor's Parcel #: 21 Add'l Parcels: No Tax Municipality: Tempe Census Tract: 320001 Taxes: 65555 Legal: LOT 1 ROOSEVELT COMMERCE PARK MCR 049913 Map Code/Grid: S36 House Number: 850 & 858 Compass: W Street Name: ELLIOT St Suffix: Road City/Town Code: Tempe State/Province: AZ Zip Code: 85284 Zip4: 1206 County Code: Maricopa Subdivision: ROOSEVELT COMMERCE PARK Assessor Number: 301-90-021 Tax Year: 2020
General Property Description
Ttl Apx SqFt Bldg: 24960 # of Buildings: 2 Uncvrd Parking Spcs: 48 Year Built: 2001 Zoning: GID
Legal Info
Range: 4E Section: 9 Township: 1S Lot Number: 1
Construction
Block: 1
Roofing
Other: 1
Floors
Ceramic Tile: 1 Carpet: 1
Income & Expenses
Annual Elec Exp: 40595 Annual Ins Exp: 4952 Annual Landscape Exp: 20258 Annual Maint Exp: 15440 Annual Mgmt Exp: 14000 Annual Trash Exp: 1190 Annual Wtr/Swr Exp: 6109 Owner Association: No Annual Ownr Asoc Fee: 0 Annual Other Expense: 25916 Operating Exp: 194015 Other Income: 0 Vacancy Allowance: 0.05 Adjusted Gross Inc: 495887.65
Building Type
Office: 1
Business Type
Professional/Office: 1
Stories
1 Story: 1
Pmt & Rate Info
Cap Rate: 6.88 Equity: 4766000 Total Owed: 0
Showing Notification Methods
Text: 1 Email: 1 Phone Call: 1
Lockbox Type
None: 1
Ceiling Height
10.1 Feet to 12 Feet: 1
Heating
Electric: 1
Cooling
Central Air: 1
Interior Features
Finished: 1
Loading Facilities
None: 1
Source of Fincl Data
Other (See Remarks): 1
Fencing
None: 1
Water Source
City Franchise: 1
Sewer
Sewer - Public: 1
Parking Features
Paved: 1
Electric
Other (See Remarks): 1
Gas
None: 1
New Financing
Other (See Remarks): 1
Reports/Disclosures
Other (See Remarks): 1
Environmental
Other (See Remarks): 1
Sold Info
Loan Type: Cash Payment Type: Other Clsing Cost Split: Normal - N Buyer Concession to Seller: 0 Buyer Concession $/%: $ Seller Concession to Buyer: 0 Seller Concession $/%: $
Remarks Misc
Cross Street: W Elliot Rd & S Hardy Dr Geo Lat: 33.349662 Geo Lon: -111.952125
Status Change Info
Off Market Date: 2021-05-26 Under Contract Date: 2021-03-22 Close of Escrow Date: 2021-05-28 Sold Price: $4,300,000
Income Expenses
Gross Annual Sch Inc: 521987 Net Operating Income: 327969
Property Features
Building Type: Office Business Type: Professional/Office Stories: 1 Story Construction: Block Roofing: Other Floors: Ceramic Tile; Carpet Ceiling Height: 10.1 Feet to 12 Feet Cooling: Central Air Loading Facilities: None Interior Features: Finished Fencing: None Parking Features: Paved Electric: Other (See Remarks) Gas: None Water Source: City Franchise Sewer: Sewer - Public New Financing: Other (See Remarks) Showing Notification Methods: Text; Email; Phone Call Lockbox Type: None Source of Fincl Data: Other (See Remarks) Environmental: Other (See Remarks)
Listing Office: The Menlo Group Commercial Real Estate
Last Updated: February - 25 - 2025
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