$3,700,000
Buckeye, AZ 85326
MLS# 6488518
Status: Closed
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Property Description
Iron Mill Plaza at 25560 W MC 85 is an opportunity to own a 12,994-square-foot office building with a large ground area two blocks from Downtown Buckeye. Presently set up as an executive office, the property can be modified into a manufacturing facility. The current owner operates a large silk-screening company and is open to arranging a leaseback if the new owner desires. Situated on 1.39 acres, zoned C-3 and R-143 for the County of Maricopa, the property has a well and septic on site, plus a large parking area. Nearly two blocks from downtown Buckeye, the Iron Mill Plaza is on the main road of Highway 85, central to the restaurants, retail, and services on Monroe Avenue. An easy-to-view office on Highway 85 that is heavily traveled by over 10,000 cars daily. Commuting is a breeze from t
Details
Maps
Contract Info
Current Price: $3,700,000
Sold Price: $3,700,000
Status: Closed
List Date: 2022-11-11
Ownership: Fee Simple
Buyer/Broker: Y
Buyer Broker $/%: $
Location, Tax & Legal
Map Code/Grid: S24
House Number: 25560
Compass: W
Street Name: US HIGHWAY 85
St Suffix: --
Unit #: 15
City/Town Code: Buckeye
State/Province: AZ
Zip Code: 85326
Zip4: 5282
Country: USA
County Code: Maricopa
Legal Description (Abbrev): PORTION NW4 DAF BEG SE COR TH W 310F N 331F E 310 F S TO POB EX W 116F OF S 307F & EX S 33F RD
Assessor's Map #: 32
Assessor's Parcel #: 1
Assessor Parcel Ltr: L
Add'l Parcels: No
Assessor Number: 400-32-001-L
Census Tract: 50702
Legal: PORTION NW4 DAF BEG SE COR TH W 310F N 331F E 310 F S TO POB EX W 116F OF S 307F & EX S 33F RD
Tax Municipality: Maricopa - COUNTY
Taxes: 13333
Tax Year: 2022
General Property Description
Ttl Apx SqFt Bldg: 12945
# of Buildings: 1
Year Built: 1976
Uncvrd Parking Spcs: 30
Zoning: C-G, R-43
Remarks & Misc
Cross Street: MC 85 and Miller Rd
Directions: Follow AZ-101 Loop W and I-10 W to N Miller Rd. Take exit 114 from I-10 W.
South to MC 85 (main street in Buckeye) west to Property. Property is on the North side of the road.
Geo Lat: 33.370897
Geo Lon: -112.59975
Status Change Info
Status Change Date: 2023-09-22
Off Market Date: 2023-09-17
Under Contract Date: 2023-09-17
Close of Escrow Date: 2023-09-22
Sold Price: $3,700,000
Legal Info
Township: 1S
Range: 3W
Section: 6
Income & Expenses
Annual Elec Exp: 20400
Annual Ins Exp: 2300
Annual Trash Exp: 1200
Owner Association: No
Operating Exp: 37233
Gross Annual Sch Inc: 301541
Other Income: 1800
Vacancy Allowance: 0.1
Adjusted Gross Inc: 273006.9
Net Operating Income: 207967
Pmt & Rate Info
Cap Rate: 6.12
Equity: 3400000
Sold Info
Loan Type: Carryback
Loan Years: 2
Payment Type: Fixed
Clsing Cost Split: Normal - N
Buyer Concession $/%: $
Seller Concession $/%: $
Property Features
Building Type: Commercial; Industrial; Office; Manufacturing; Distribution/Warehse; Other (See Remarks)
Current Use: Office; Warehouse; Retail; See Remarks
Stories: 1 Story
Construction: Block; Stucco
Roofing: Foam
Floors: Vinyl; Carpet
Ceiling Height: 8.1 Feet to 10 Feet
Heating: Heat Pump; 2 or More Units
Cooling: Central A/C; Heat Pump
Loading Facilities: Grade Level
Interior: Finished; Security System; Security Light(s); Alarm System; Private Restrooms; Public Restrooms
Exterior: Roof Sign; Pole Sign; Building Sign
Fencing: None
Parking: Free; Private Parking
Electric: APS; Master Meter; 3 Phase Power
Gas: SW Gas
Water: Domestic Well
Sewer: Septic Tank
Freeway/Highway: Frontage
Lockbox Type: None
Source of Fincl Data: Provided by Owner
Existing 1st Ln Type: Not Applicable
Roads/Streets: Asphalt
Traffic Count: Unknown
Reports/Disclosures: Seller Prop Disc Stm; Water Well Report; APOD/Backup Avaible; Well Disclosure
Environmental: None
Supplements
Commuting is a breeze from the property as Interstate 10 is nine minutes away.
Buckeye, Arizona, is a small residential community with a scenic rugged desert landscape. A bustling area with a suburban feel, just 38 miles from Phoenix. The property is in a high-development area near all the new distribution centers, with more to come, bringing many new industries and residents to the area. With a population of 31,575 residents within five miles, estimated to grow 2.6% in five years, the Iron Mill Plaza is the ideal destination to set up shop, with endless possibilities and chances to thrive in a rapidly growing area.
Listing Office: Gerchick Real Estate
Last Updated: September - 22 - 2023
The listing broker's offer of compensation is made only to participants of the MLS where the listing is filed.
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