NOT LISTED FOR SALE

1241 E Broadway Rd Mesa, AZ 85204

Reed Park Neighborhood
-- Bed
-- Bath
21,601 Sq Ft
0.55 Acres

Last Sold August 30, 2020

Last sale price $1,630,000 $75 Per Sq Ft

38 Days on Market

Highlights

  • 0.55 Acre Lot
  • Franklin at Brimhall Elementary School Rated A
  • Partially Fenced Property

About This Home

As of August 2020

Located in the heart of Mesa with nearby major revitalization projects already underway. 30,000+ vehicles pass directly along the 444 feet of frontage along major thoroughfare Broadway Road. Over 400,000 residents within a five mile radius. Professionally landscaped with shaded porch entrances for all tenants make this an attractive location for businesses. Opportunity to increase revenue with lease-up.
• Plenty of Parking
• Easy access, two curb cuts with two lanes each direction, center turn lane, close to US 60 freeway
• Area undergoing revitalization
• Close to Historic Downton Mesa: Museums, Colleges, Art Center, Shopping and Dining
Offering Memorandum available upon request.

Last Listed By

Hani Aldulaimi

Keller Williams Realty East Valley License #BR533683000 Listed on: 04/08/2020

Keller Williams Realty East Valley

Property Details

Property Type

  • Other

Est. Annual Taxes

  • $17,700

Year Built

  • Built in 1977

Lot Details

  • 0.55 Acre Lot
  • Partially Fenced Property
  • Block Wall Fence
  • Additional Parcels
  • Property is zoned LC

Home Design

  • 21,601 Sq Ft Home
  • Foam Roof
  • Block Exterior

Parking

  • 81 Open Parking Spaces
  • 81 Parking Spaces

Listing and Financial Details

  • Tax Lot 139-03-156 F, H & K
  • Assessor Parcel Number 139-03-156-H

Community Details

Overview

  • 3 Buildings
  • Mesa Village Subdivision

Building Details

  • Gross Income $210,317
  • Net Operating Income $106,901

Property Details

Property Type

Other

Est. Annual Taxes

$17,700

Year Built

Built in 1977

Lot Details

0

Listing Details

  • Cross Street: Broadway Road & Stapley Drive
  • Legal Info Range: 5E
  • Property Type: Comm/Industry Sale
  • Zoning: LC
  • Current Use: Retail, Service Business, Religious Facility, Office, Food Service
  • Number Of Buildings: 3
  • Year Built: 1977
  • Tax Year: 2019
  • Lot Size Acres: 0.55
  • Road Surface Type: Asphalt, Dedicated Street, Curb(s) & Gutter(s), Sidewalk(s)
  • Professional Management Expense: 10200.0
  • Subdivision Name: MESA VILLAGE
  • Structure Type: Commercial
  • Tax Parcel Letter: H
  • Special Features: None
  • Property Sub Type: Other

Interior Features

  • Flooring: Other

Exterior Features

  • Fencing: Block, Partial
  • Construction Type: Block, Other, See Remarks
  • Roof: Foam
  • Construction:Other (See Remarks)23: Yes
  • Construction:Block: Yes

Garage/Parking

  • Open Parking Spaces: 81.0
  • Total Parking Spaces: 81.0
  • General Property Description:Uncvrd Parking Spcs: 81.0
  • General Property Description:Total Parking Spcs: 81.0
  • Parking:Free: Yes
  • Parking:Paved Parking: Yes
  • Parking:Private Parking: Yes

Utilities

  • Electric: SRP
  • Cooling: Other, See Remarks
  • Heating: Other, See Remarks
  • Water Source: City Franchise
  • Heating:Other4: Yes
  • Heating:See Remarks3: Yes

Fee Information

  • Trash Expense: 820.0
  • Annual Water Sewer Expense: 3486.54

Lot Info

  • Lot Size Sq Ft: 23958.0
  • Additional Parcels: Yes
  • Parcel #: 139-03-156-H
  • ResoLotSizeUnits: SquareFeet

Multi Family

  • Electric Expense: 4525.0
  • Annual Gross Income: 210316.71
  • Insurance Expense: 1597.0
  • Maintenance Expense: 42837.0
  • Property Net Operating Income: 106901.0
  • Vacancy Allowance Rate: 0.07

Tax Info

  • Tax Annual Amount: 17700.0
  • Tax Book Number: 139.00
  • Tax Lot: 139-03-156 F, H & K
  • Tax Map Number: 3.00

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
Oct 3, 2022
Sold by
Alerica Corporation
Bought by
Pgm Invesco Llc
Total Days on Market
38

Purchase Details

Closed on
Jan 18, 2005
Sold by
Spanish Village Plaza Inc
Bought by
Hillcrest Plaza Llc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,500,000
Interest Rate
5.8%
Mortgage Type
Commercial

Range of Values:

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Average Value
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List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
Pgm Invesco Llc -- --
Hillcrest Plaza Llc $2,000,000 First American Title
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Previous Owner Hillcrest Plaza Llc $1,500,000
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
08/30/2020 08/30/20 Sold $1,630,000 -3.8% $75 / Sq Ft
05/04/2020 05/04/20 Price Changed $1,695,000 -13.1% $78 / Sq Ft
04/07/2020 04/07/20 For Sale $1,950,000 -- $90 / Sq Ft
Source: Arizona Regional Multiple Listing Service (ARMLS)

Tax History Compared to Growth

Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2025 $17,607 $173,935 -- --
2024 $18,288 $170,829 -- --
2023 $18,288 $289,748 $35,768 $253,980
2022 $18,437 $215,743 $19,458 $196,285
2021 $19,195 $238,247 $24,660 $213,587
2020 $18,945 $224,294 $18,865 $205,429
2019 $17,700 $224,294 $18,865 $205,429
2018 $16,989 $183,168 $21,312 $161,856
2017 $16,482 $175,788 $19,728 $156,060
2016 $16,176 $158,724 $17,154 $141,570
2015 $15,626 $125,819 $16,521 $109,298
Source: Public Records

Agents Affiliated with this Home

  • H

    Seller's Agent in 2020

    Hani Aldulaimi

    Keller Williams Realty East Valley

    (480) 839-6600

    2 in this area

    30 Total Sales

    Hani Aldulaimi
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Map

Source: Arizona Regional Multiple Listing Service (ARMLS)

MLS Number: 6063173

Arizona Regional Multiple Listing Service (ARMLS)

APN: 139-03-156H

Arizona Maricopa County Mesa 85204 Reed Park

1241 E Broadway Rd, Mesa, AZ

Homes for Sale in Mesa, AZ

This home is located at 1241 E Broadway Rd, Mesa, AZ 85204 since 08 April 2020. This property was built in 1977. 1241 E Broadway Rd is a home located in Maricopa County with nearby schools including Lindbergh Elementary School, Franklin at Brimhall Elementary School, and Franklin West Elementary School.

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

Arizona Regional Multiple Listing Service (ARMLS) All information should be verified by the recipient and none is guaranteed as accurate by ARMLS

Listing Information presented by local MLS brokerage: Ten-X, local REALTOR®- Arlene Richardson - (888)-952-6393

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