UNDER CONTRACT-Iron Mill Office Building-Downtown Buckeye AZ $3,400,000

25560 W MC 85 #15 Buckeye AZ $3,400,000

The Property

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 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.

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Location

The U.S. Census Bureau just released the 2021 statistics highlighting local population changes, compared to last year, and Buckeye’s population was up approximately 9 percent, with population numbers exceeding 101,000. This marks the first Buckeye has officially reach 100,000 people.

For the past several years, Buckeye has placed in the top ten for the fastest growing major cities (populations over 50,000) in the country.

Buckeye was not alone in the top fifteen fastest growing cities. Four other Arizona cities joined the list: Queen Creek, Casa Grande, Maricopa and Goodyear.

Based on new building permits issued since April of 2020, Buckeye city officials estimate the current population is closer to 110,000.

“There are so many exciting things happening in Buckeye,” said Buckeye Mayor Eric Orsborn. “Our efforts to focus on providing a variety of housing options, attracting quality employers in energy, advanced manufacturing, logistics and distribution are paying off.”

$3,400,000

Sale Price

$271,387

Effective Rental Income

$63,423

Operating Expenses

$207,864

Net Operating Income

6.12%

Cap Rate