Office Property For Sale - McDowell Studios

1619 E. McDowell Road, Phoenix, AZ, 85006

 
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Office For Sale
Phoenix, AZ
Arizona

McDowell Studios

 

1619 E. McDowell Road

Phoenix, Arizona 85006
County: Maricopa
 
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  For Sale Active  
Property Use Type:Investment
Type:Office
Office Building
Building Size:5,550 SF
Building Class:C
Lot Size:7,000 SF
Occupancy:100.00%
Price:$1,270,000
Price/SF:$228.83
Cap Rate:8.02%
Year Built:1948
Date Last Verified:1/5/2009
Property ID:15768372
 
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 Additional Information 

Property Description:
AWESOME mid-century modern bldg, 1948 vintage, gutted & totally redeveloped 2007. Lots of local press and architectural praise. Very hip details. Three storefronts and two upstairs units, all 5 have private shower/bath. Full IKEA kitchen in one unit. Phone/data/cable ready. Sky terrace. Six gated parking spaces onsite, five are covered, free 30-space public lot a few steps away. High visibility on mid-century corridor in Central Phoenix near downtown, immediate freeway access in all directions. Existing tenants downstairs include urban clothing/music/art, architect, web design/merchandising. Developer rents two upstairs units, can stay or go. Already subdivided into commercial condos.

Location Description:
From the intersection of McDowell Road and 16th Street, head east on McDowell to the two-story green building (1619) on south side of street. Park in oopen lot just east of building.

No. Stories:2Commission Split:3%
TaxID/APN:multiple
 Highlights 
•Gutted & totally re-developed in 2007, new roof, HVAC, plumbing, electrical, etc.•Very cool private 2nd floor sky terrace; one upstairs unit has full IKEA kitchen
 
•Each unit has security system, private shower bath, & wired for phone/data/cable•Electronically gated, covered parking on-site
 
•Hip architectural details- opaque glass, exposed orginal steel & masonry structure•Instant access to all major freeways, rejuvenating corridor close to downtown
  Financial Summary Actual  
Scheduled Gross Income:$144,173
Effective Gross Income:$135,593
Operating Expenses:$33,734
Net Operating Income:$101,859
 
  Major Tenant Information
Tenancy Type: Multiple
 
Encompass Architects Southwest
SF Occupied: 1,295
 
Main Artistry LLC
SF Occupied: 902
 
Hello LLC
SF Occupied: 923
 
Kismet Group LLC
SF Occupied: 1,353
 
Kismet Group LLC
SF Occupied: 1,077
 
 
  Debt & Equity Information
No Debt & Equity Information Provided
6/20/2008
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The information above has been obtained from sources believed reliable. While we do not doubt its accuracy we have not verified it and make no guarantee, 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 tax and other factors which should be evaluated 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.
 
 

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