NOT LISTED FOR SALE

14040 N Cave Creek Rd Phoenix, AZ 85022

Paradise Valley Neighborhood
-- Bed
-- Bath
47,397 Sq Ft
2.63 Acres

Last Sold March 15, 2020

Last sale price $4,500,000 $95 Per Sq Ft

330 Days on Market

Highlights

  • 2.63 Acre Lot
  • Wood Flooring
  • Heat Pump System
  • Shadow Mountain High School Rated A-
  • Chilled Water System

About This Home

As of March 2020

C2 Fantastic Opportunity to own a 47,000sf+ property on nearly 3 acres! Only $116/sf and 92% occupied (occupancy increasing)! Occupied spaces have been nicely updated/remodeled! Suites features area with 18 executive offices as well as 19 salon suites area - higher return/sf $15.39 now!
Property has undergone vast improvements and continues to do so; improvements already completed are roof, parking, LED lighting, programmable thermostats, new kitchens and more! Exterior paint in progress, new cooling tower (all stainless steel) has been ordered and installed this winter.
Property is 3 stories and features gorgeous mountain views! Center atrium features large fountain/pond with a variety of koi fish. Conveniently located near 51 and 101 freeways! 10 Min to PV, Scottsdale, Desert Ridg

Last Agent to Sell the Property

Teo Cupes

Prestige Realty License #BR573968000 Listed on: 03/06/2020

Prestige Realty

Last Buyer's Agent

Kristen Petronio

The Agency License #SA582127000

The Agency

Property Details

Property Type

  • Other

Est. Annual Taxes

  • $55,395

Year Built

  • Built in 1986

Lot Details

  • 2.63 Acre Lot
  • Property is zoned C2

Home Design

  • 47,397 Sq Ft Home
  • Foam Roof
  • Block Exterior
  • Metal Siding

Flooring

  • Wood
  • Carpet
  • Ceramic Tile
  • Vinyl

Parking

  • 129 Open Parking Spaces
  • 191 Parking Spaces
  • Public Parking
  • 62 Covered Spaces
  • Free Parking
  • Paved Parking

Additional Features

  • Chilled Water System
  • Heat Pump System

Community Details

  • Operating Expense $55,395
  • Net Operating Income $471,000

Listing and Financial Details

  • Assessor Parcel Number 214-51-004-E

Property Details

Property Type

Other

Est. Annual Taxes

$55,395

Year Built

Built in 1986

Lot Details

0

Listing Details

  • Cross Street: Cave Creek Road and Cactus
  • Legal Info Range: 3E
  • Property Type: Comm/Industry Sale
  • Zoning: C2
  • Number Of Buildings: 1
  • Ownership: Fee Simple
  • Year Built: 1986
  • Tax Year: 2019
  • Directions: North of Cactus and Cave Creek Road, on West Side of Road
  • Lot Size Acres: 2.63
  • Road Surface Type: Asphalt
  • Structure Type: Other (See Remarks), Commercial, Office
  • Tax Parcel Letter: E
  • Special Features: None
  • Property Sub Type: Other

Interior Features

  • Flooring: Other, Carpet, Ceramic Tile, Vinyl, Wood
  • Living Area: 47397.0

Exterior Features

  • Fencing: None
  • Disclosures: None
  • Construction Type: See Remarks, Metal Siding, Block
  • Roof: Foam, Rolled/Hot Mop
  • Construction:Other (See Remarks)23: Yes
  • Construction:Block: Yes
  • Construction:Metal: Yes

Garage/Parking

  • Total Covered Spaces: 62.0
  • Parking Features: Paved Parking, Public Parking, Free
  • Attached Garage: No
  • Open Parking Spaces: 129.0
  • Total Parking Spaces: 191.0
  • General Property Description:Covered Parking Spcs: 62.0
  • General Property Description:Uncvrd Parking Spcs: 129.0
  • General Property Description:Total Parking Spcs: 191.0
  • Parking:Free: Yes
  • Parking:Paved Parking: Yes
  • Parking:Public Parking: Yes

Utilities

  • Electric: APS
  • Cooling: Other, See Remarks, Chiller System, Office A/C
  • Heating: Other, See Remarks, Heat Pump, Electric
  • Water Source: City Franchise
  • Heating:Electric: Yes
  • Heating:Heat Pump2: Yes
  • Main Cooling Other: Yes

Lot Info

  • Lot Size Sq Ft: 114519.0
  • Parcel #: 214-51-004-E
  • ResoLotSizeUnits: SquareFeet

Multi Family

  • Property Net Operating Income: 471000.0
  • Annual Operating Expense: 55395.0

Tax Info

  • Tax Annual Amount: 55395.0
  • Tax Book Number: 214.00
  • Tax Lot: 0
  • Tax Map Number: 51.00

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Mar 6, 2020
Closed on
Feb 12, 2020
Sold by
Paradise Tower Llc
Bought by
Bhaurr Llc
Seller's Agent
Teo Cupes
Prestige Realty
Buyer's Agent
Kristen Petronio
The Agency
List Price
$5,495,000
Sold Price
$4,500,000
Premium/Discount to List
-$995,000
-18.11%
Total Days on Market
330

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$3,150,000
Outstanding Balance
$2,813,633
Interest Rate
3.5%
Mortgage Type
Commercial
Source: Public Records

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
Bhaurr Llc $4,500,000 Chicago Title Agency
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Bhaurr Llc $3,150,000
Previous Owner Sanctuary Of Mesa Llc $150,000
Previous Owner Sanctuary Of Mesa Llc $1,100,000
Previous Owner Alta Vista Properties I L L C $2,100,000
Previous Owner Alta Vista Properties I L L C $100,000
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
03/15/2020 03/15/20 Sold $4,500,000 -18.1% $95 / Sq Ft
03/06/2020 03/06/20 Price Changed $5,495,000 0.0% $116 / Sq Ft
01/16/2020 01/16/20 For Sale $5,495,000 0.0% $116 / Sq Ft
01/16/2020 01/16/20 Price Changed $5,495,000 0.0% $116 / Sq Ft
12/19/2019 12/19/19 Price Changed $5,495,000 +10.0% $116 / Sq Ft
11/27/2019 11/27/19 Pending -- -- --
01/01/2019 01/01/19 For Sale $4,995,000 -- $105 / 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 $49,679 $483,958 -- --
2024 $50,112 $475,316 -- --
2023 $50,112 $867,017 $100,096 $766,921
2022 $51,068 $600,303 $110,478 $489,825
2021 $52,682 $606,942 $113,634 $493,308
2020 $51,053 $605,628 $114,354 $491,274
2019 $51,120 $554,454 $104,652 $449,802
2018 $49,443 $484,884 $91,998 $392,886
2017 $47,394 $469,332 $91,998 $377,334
2016 $46,603 $422,316 $75,672 $346,644
2015 $44,355 $399,989 $59,200 $340,789
Source: Public Records

Agents Affiliated with this Home

  • Teo Cupes

    Seller's Agent in 2020

    Teo Cupes

    Prestige Realty

    (480) 255-7327

    34 in this area

    67 Total Sales

    Teo Cupes
    Section Image
  • Kristen Petronio

    Buyer's Agent in 2020

    Kristen Petronio

    The Agency

    (602) 370-2774

    4 in this area

    22 Total Sales

    Kristen Petronio
    Section Image
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Map

Source: Arizona Regional Multiple Listing Service (ARMLS)

MLS Number: 5861701

Arizona Regional Multiple Listing Service (ARMLS)

APN: 214-51-004E

Arizona Maricopa County Phoenix 85022 Paradise Valley

14040 N Cave Creek Rd, Phoenix, AZ

This home is located at 14040 N Cave Creek Rd, Phoenix, AZ 85022 since 06 March 2020. This property was built in 1986. 14040 N Cave Creek Rd is a home located in Maricopa County with nearby schools including Hidden Hills Elementary School, Shea Middle School, and Shadow Mountain High 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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