NOT LISTED FOR SALE

1512 E Thomas Rd Phoenix, AZ 85014

Central City Neighborhood

Estimated Value: $1,051,704

Studio
-- Bath
2,012 Sq Ft
$523/Sq Ft Est. Value

Last Sold February 18, 2022

Last sale price $1,275,000 $634 Per Sq Ft

Est. 18% decrease in value since last sale

Current estimated payment $6,546/month

62 Days on Market

Highlights

  • 0.71 Acre Lot
  • Ceramic Tile Flooring
  • Heating Available
  • Phoenix Coding Academy Rated A
  • Central Air

About This Home

As of February 2022

What a chance to own a restaurant with almost 3 decades of 5 star service. Juan's Authentic Mexican food has been servicing central Phoenix for Generations. Located in the heart of Phoenix there are endless possibilities with this location. Not only can you own a fully functioning restaurant with a series 7 liquor license, but the property also has income from two bill boards and there is room to expand both in commercial or residential. Do not miss your chance at this one!

Last Agent to Sell the Property

Phillip Gonzales

Coldwell Banker Realty License #SA656364000 Listed on: 11/09/2021

Coldwell Banker Realty

Property Details

Property Type

  • Other

Est. Annual Taxes

  • $14,029

Year Built

  • Built in 1967

Lot Details

  • 0.71 Acre Lot
  • Block Wall Fence
  • Chain Link Fence
  • Property is zoned C-2/R-3

Home Design

  • 2,012 Sq Ft Home
  • Wood Frame Construction
  • Foam Roof
  • Stucco

Flooring

  • Concrete
  • Ceramic Tile

Parking

  • 40 Open Parking Spaces
  • 40 Parking Spaces
  • Paved Parking
  • Fenced Parking

Utilities

  • Central Air
  • Heating Available

Community Details

  • Operating Expense $14,029
  • Gross Income $1,205,400
  • Net Operating Income $100,000

Listing and Financial Details

  • Assessor Parcel Number 118-14-037-C

Property Details

Property Type

Other

Est. Annual Taxes

$14,029

Year Built

Built in 1967

Lot Details

0

Listing Details

  • Cross Street: 16th St & Thomas Rd.
  • Property Type: Comm/Industry Sale
  • Zoning: C-2/R-3
  • Number Of Buildings: 1
  • Ownership: Fee Simple
  • Year Built: 1967
  • Tax Year: 2021
  • Lot Size Acres: 0.71
  • Structure Type: Commercial
  • Tax Parcel Letter: C
  • Water Source City Franchise: Yes
  • Special Features: None
  • Property Sub Type: Other

Interior Features

  • Flooring: Ceramic Tile, Concrete
  • Living Area: 2012.0

Exterior Features

  • Fencing: Block, Chain Link
  • Disclosures: Other (See Remarks)
  • Construction Type: Frame - Wood, Stucco
  • Roof: Foam, Rolled/Hot Mop
  • Construction:Frame - Wood2: Yes
  • Construction:Stucco2: Yes

Garage/Parking

  • Parking Features: Paved, Fenced
  • Attached Garage: No
  • Open Parking Spaces: 40.0
  • Total Parking Spaces: 40.0
  • General Property Description:Uncvrd Parking Spcs: 40.0
  • General Property Description:Total Parking Spcs: 40.0
  • Parking Features Paved Parking: Yes
  • Parking Features Fenced: Yes

Utilities

  • Electric: APS
  • Cooling: Central Air
  • Heating: Electric
  • Cooling Y N: Yes
  • Heating Yn: Yes
  • Water Source: City Franchise
  • Heating:Electric: Yes

Lot Info

  • Lot Size Sq Ft: 30825.0
  • Parcel #: 118-14-037-C
  • ResoLotSizeUnits: SquareFeet

Multi Family

  • Annual Gross Income: 1205400.0
  • Property Net Operating Income: 100000.0
  • Annual Operating Expense: 14029.0

Tax Info

  • Tax Annual Amount: 14029.0
  • Tax Book Number: 118.00
  • Tax Lot: -
  • Tax Map Number: 14.00

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Nov 9, 2021
Closed on
Apr 7, 2022
Sold by
Gutierrez and Adelaida
Bought by
Lakk Llc
Seller's Agent
Phillip Gonzales
Coldwell Banker Realty
List Price
$140,000
Sold Price
$1,275,000
Premium/Discount to List
$1,135,000
810.71%
Current Estimated Value
$1,051,704

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
-$223,296
Avg. Annual Appreciation
-4.84%
Original Mortgage
$1,331,250
Interest Rate
4.72%
Mortgage Type
New Conventional

Purchase Details

Listed on
Nov 9, 2021
Closed on
Feb 15, 2022
Sold by
Perez Antonio M and Perez Irma R
Bought by
Gutierrez Larry and Gutierrez Adelaida
Seller's Agent
Phillip Gonzales
Coldwell Banker Realty
List Price
$140,000
Sold Price
$1,275,000
Premium/Discount to List
$1,135,000
810.71%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,331,250
Interest Rate
4.72%
Mortgage Type
New Conventional

Purchase Details

Closed on
Sep 19, 2003
Sold by
Webster William Michael
Bought by
Perez Antonio M and Perez Irma R

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$300,000
Interest Rate
6.22%
Mortgage Type
Commercial
Source: Public Records
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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
Lakk Llc -- None Listed On Document
Gutierrez Larry $1,000,000 None Listed On Document
Perez Antonio M $420,000 Security Title Agency
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Previous Owner Lakk Llc $1,331,250
Previous Owner Perez Antonio M $300,000
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
02/18/2022 02/18/22 Sold $1,275,000 +810.7% $634 / Sq Ft
01/10/2022 01/10/22 Pending -- -- --
11/09/2021 11/09/21 For Sale $140,000 -- $70 / 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 $13,209 $101,717 -- --
2024 $13,102 $99,901 -- --
2023 $13,102 $149,889 $94,860 $55,029
2022 $13,412 $116,393 $65,468 $50,925
2021 $14,029 $119,268 $67,338 $51,930
2020 $13,674 $113,202 $61,506 $51,696
2019 $13,081 $94,428 $44,856 $49,572
2018 $12,648 $91,152 $41,544 $49,608
2017 $11,612 $90,684 $43,272 $47,412
2016 $11,202 $83,610 $40,446 $43,164
Source: Public Records

Agents Affiliated with this Home

  • Phillip Gonzales

    Seller's Agent in 2022

    Phillip Gonzales

    Coldwell Banker Realty

    (480) 685-2760

    2 in this area

    52 Total Sales

    Phillip Gonzales
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Map

Source: Arizona Regional Multiple Listing Service (ARMLS)

MLS Number: 6318695

Arizona Regional Multiple Listing Service (ARMLS)

APN: 118-14-037C

Arizona Maricopa County Phoenix 85006 Central City

1512 E Thomas Rd, Phoenix, AZ

Not Listed for Sale

Other

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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