NOT LISTED FOR SALE

1940 E Thunderbird Rd Phoenix, AZ 85022

Paradise Valley Village Neighborhood

Estimated Value: $1,982,458

1 Bed
-- Bath
15,425 Sq Ft
$129/Sq Ft Est. Value

Last Sold July 21, 2021

Last sale price $1,785,000 $116 Per Sq Ft

Est. 11% increase in value since last sale

Current estimated payment $11,693/month

818 Days on Market

Highlights

  • 1.01 Acre Lot
  • Community Kitchen
  • Heating Available
  • Wood Flooring
  • Elevator

About This Home

As of July 2021

15,424sf CO zoned property on acre lot located between major Freeways, 51, 101 and 17; only 20 minutes from Sky Harbor airport, 7 minutes to Scottsdale, Desert Ridge, Minutes to Paradise Valley! Currently 96% occupied and anticipated to be 100%! This fantastic property is located near the busy intersection of Cave Creek Road and Cactus/Thunderbird Road! There is an updated lobby area and even an elevator serving level two suites. 2400sf has just been transformed into all plumbed 13 medspa suites/executive suites with kitchen and lovely reception a medical office, property has been repainted and parking has been redone, mostly new AC units and more!

Last Agent to Sell the Property

Teo Cupes

Prestige Realty License #BR573968000 Listed on: 04/21/2019

Prestige Realty

Last Buyer's Agent

Non-MLS Agent

Non-MLS Office

Property Details

Property Type

  • Other

Est. Annual Taxes

  • $17,146

Year Built

  • Built in 1985

Lot Details

  • 1.01 Acre Lot
  • Block Wall Fence
  • Property is zoned C-O

Home Design

  • Built-Up Roof
  • Foam Roof
  • Block Exterior
  • Stucco

Interior Spaces

  • 15,425 Sq Ft Home
  • Wood Flooring

Parking

  • 50 Open Parking Spaces
  • 60 Parking Spaces
  • 10 Covered Spaces

Utilities

  • Heating Available

Listing and Financial Details

  • Tax Lot 18
  • Assessor Parcel Number 166-19-009-D

Community Details

Amenities

  • Community Kitchen
  • Meeting Room
  • Elevator

Building Details

  • Operating Expense $17,146
  • Gross Income $220,000
  • Net Operating Income $170,000

Property Details

Property Type

Other

Est. Annual Taxes

$17,146

Year Built

Built in 1985

Lot Details

0

Listing Details

  • Cross Street: Greenway & Cave Creek
  • Legal Info Range: 3E
  • Property Type: Comm/Industry Sale
  • Zoning: C-O
  • Current Use: Mixed Use, Retail, Service Business, Religious Facility, Automobile, Medical/Dental, Recreational, Office, Warehouse, Wholesale
  • Number Of Buildings: 1
  • Year Built: 1985
  • Tax Year: 2018
  • Lot Size Acres: 1.01
  • Road Surface Type: Asphalt
  • Structure Type: Office
  • Tax Parcel Letter: D
  • Special Features: None
  • Property Sub Type: Other

Interior Features

  • Flooring: Wood, Other

Exterior Features

  • Fencing: Block
  • Construction Type: Stucco, Block
  • Roof: Built-Up, Foam
  • Construction:Block: Yes
  • Construction:Stucco2: Yes

Garage/Parking

  • Total Covered Spaces: 10.0
  • Open Parking Spaces: 50.0
  • Total Parking Spaces: 60.0
  • General Property Description:Covered Parking Spcs: 10.0
  • General Property Description:Uncvrd Parking Spcs: 50.0
  • General Property Description:Total Parking Spcs: 60.0
  • Parking:Private Parking: Yes

Utilities

  • Electric: Over 220 Amp, APS
  • Cooling: Office A/C
  • Heating: Electric
  • Green Building Features: Public Elevator(s), Conference Room, Kitchen
  • Water Source: City Franchise
  • Heating:Electric: Yes

Association/Amenities

  • Amenities:Kitchen: Yes
  • Amenities:Public Elevator(s): Yes
  • Amenities:Conference Room: Yes

Lot Info

  • Lot Size Sq Ft: 44083.0
  • Additional Parcels: No
  • Parcel #: 166-19-009-D
  • ResoLotSizeUnits: SquareFeet

Multi Family

  • Annual Gross Income: 220000.0
  • Property Net Operating Income: 170000.0
  • Annual Operating Expense: 17146.0

Tax Info

  • Tax Annual Amount: 17146.0
  • Tax Book Number: 166.00
  • Tax Lot: 18
  • Tax Map Number: 19.00

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Apr 21, 2019
Closed on
Jul 16, 2021
Sold by
Paradise Valley Plaza Llc
Bought by
The Hehlen Company Llc
Seller's Agent
Teo Cupes
Prestige Realty
Buyer's Agent
Non-MLS Agent
Non-MLS Office
List Price
$2,275,000
Sold Price
$1,785,000
Premium/Discount to List
-$490,000
-21.54%
Current Estimated Value
$1,982,458

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$197,458
Avg. Annual Appreciation
2.36%
Original Mortgage
$999,900
Outstanding Balance
$908,085
Interest Rate
2.96%
Mortgage Type
Commercial
Estimated Equity
$1,074,373

Purchase Details

Closed on
Apr 16, 2020
Sold by
Cbi Equity Llc
Bought by
Paradise Valley Plazza Llc

Purchase Details

Closed on
Mar 8, 2019
Sold by
Mfp I Llc
Bought by
Cbi Equity Llc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,100,000
Interest Rate
4.3%
Mortgage Type
Commercial

Purchase Details

Closed on
Jul 9, 2012
Sold by
Vallanueva Brenda and Justiniani Rolando
Bought by
Mfp I Llc

Purchase Details

Closed on
Sep 8, 2006
Sold by
Villanueva Brenda and Justiniani Rolando
Bought by
Brendon Llc

Purchase Details

Closed on
Nov 17, 2005
Sold by
Brendon Llc
Bought by
Villanueva Brenda and Justiniani Rolando

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$950,000
Interest Rate
5.97%
Mortgage Type
Commercial

Purchase Details

Closed on
Apr 2, 2005
Sold by
Justiniani Rolando and Villanueva Brenda
Bought by
Brendon Llc

Purchase Details

Closed on
Jan 18, 2005
Sold by
Scottsdale Ga Llc
Bought by
Villanueva Brenda and Justiniani Rolando

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$820,000
Interest Rate
5.69%
Mortgage Type
Commercial

Purchase Details

Closed on
Dec 23, 1997
Sold by
Mja Investments Inc
Bought by
Scottsdale Ga Llc

Purchase Details

Closed on
Apr 16, 1997
Sold by
Vermani P S and Vermani Tejinder
Bought by
Mja Investments Inc
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
The Hehlen Company Llc $1,785,000 Great American Ttl Agcy Inc
Paradise Valley Plazza Llc -- Clear Title Agency Of Az
Cbi Equity Llc $900,000 Clear Title Agency Of Az Llc
Mfp I Llc $715,001 Accommodation
Brendon Llc -- Arizona Title Agency Inc
Villanueva Brenda -- Arizona Title Agency Inc
Brendon Llc -- Transnation Title
Villanueva Brenda $1,660,000 Arizona Title Agency Inc
Scottsdale Ga Llc $750,000 Lawyers Title Of Arizona Inc
Mja Investments Inc $725,000 Security Title Agency
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open The Hehlen Company Llc $999,900
Previous Owner Cbi Equity Llc $1,100,000
Previous Owner Villanueva Brenda $950,000
Previous Owner Villanueva Brenda $820,000
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
07/21/2021 07/21/21 Sold $1,785,000 -21.5% $116 / Sq Ft
07/15/2021 07/15/21 Price Changed $2,275,000 0.0% $147 / Sq Ft
07/01/2021 07/01/21 Pending -- -- --
04/05/2019 04/05/19 For Sale $2,275,000 -- $147 / 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 $17,152 $167,832 -- --
2024 $17,378 $164,835 -- --
2023 $17,378 $289,255 $72,845 $216,410
2022 $17,710 $221,865 $76,825 $145,040
2021 $18,270 $219,780 $79,020 $140,760
2020 $17,705 $229,824 $76,356 $153,468
2019 $17,728 $226,008 $69,894 $156,114
2018 $17,146 $205,956 $62,928 $143,028
2017 $16,436 $182,250 $62,928 $119,322
2016 $16,162 $147,006 $54,648 $92,358
Source: Public Records

Agents Affiliated with this Home

  • Teo Cupes

    Seller's Agent in 2021

    Teo Cupes

    Prestige Realty

    (480) 255-7327

    26 in this area

    53 Total Sales

    Teo Cupes
    Section Image

  • N

    Buyer's Agent in 2021

    Non-MLS Agent

    Non-MLS Office

See All Agents

Map

Source: Arizona Regional Multiple Listing Service (ARMLS)

MLS Number: 5914694

Arizona Regional Multiple Listing Service (ARMLS)

APN: 166-19-009D

Arizona Maricopa County Phoenix 85022 Paradise Valley Village

1940 E Thunderbird 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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