NOT LISTED FOR SALE

40 W Brown Rd Unit 109 Mesa, AZ 85201

Evergreen Historic District Neighborhood

Estimated Value: $1,484,149

-- Bed
-- Bath
9,635 Sq Ft
$154/Sq Ft Est. Value

Last Sold July 05, 2023

Last sale price $1,400,000 $145 Per Sq Ft

Est. 6% increase in value since last sale

Current estimated payment $9,195/month

65 Days on Market

Highlights

  • 0.71 Acre Lot
  • Community Kitchen
  • Heating Available
  • Franklin at Brimhall Elementary School Rated A
  • Central Air

About This Home

As of July 2023

ORION is pleased to offer 40 West Brown, a multi-tenant office building located near the heart of downtown Mesa and the nearby redevelopment. Current ownership is the original developer from 1983. Pride of ownership is evident from the well maintained grounds and long-term tenants. This office is unique with spacious, vaulted ceilings, plenty of foliage, and room for expansion on adjacent land. This is an opportunity to own a well built masonry construction office building with vast upside. Significant value can be added through interior renovations, increased rents, and conversion to NNN leases.

Last Listed By

Garrett Hemeyer

Orion Investment Real Estate License #SA684184000 Listed on: 03/06/2023

Property Details

Property Type

  • Other

Est. Annual Taxes

  • $11,158

Year Built

  • Built in 1983

Lot Details

  • 0.71 Acre Lot
  • Property is zoned OC

Home Design

  • 9,635 Sq Ft Home
  • Wood Frame Construction
  • Composition Roof

Parking

  • 3 Open Parking Spaces
  • 9 Parking Spaces
  • 6 Covered Spaces

Utilities

  • Central Air
  • Heating Available

Additional Features

  • Basement

Listing and Financial Details

  • Tax Lot F
  • Assessor Parcel Number 137-20-001-F

Community Details

Building Details

  • Gross Income $103,021
  • Net Operating Income $88,882

Additional Features

  • 3 Buildings
  • Community Kitchen

Property Details

Property Type

Other

Est. Annual Taxes

$11,158

Year Built

Built in 1983

Lot Details

0

Listing Details

  • Legal Info Range: 5E
  • Property Type: Comm/Industry Sale
  • Zoning: OC
  • Current Use: Office
  • Number Of Buildings: 3
  • Year Built: 1983
  • Tax Year: 2022
  • Lot Size Acres: 0.71
  • Co List Office Mls Id: mlso106
  • Co List Office Phone: 480-634-6934
  • Structure Type: Office
  • Tax Parcel Letter: F
  • Special Features: None
  • Property Sub Type: Other

Exterior Features

  • Fencing: None
  • Construction Type: Frame - Wood
  • Roof: Composition
  • Construction:Frame - Wood2: Yes

Garage/Parking

  • Total Covered Spaces: 6.0
  • Open Parking Spaces: 3.0
  • Total Parking Spaces: 9.0
  • General Property Description:Covered Parking Spcs: 6.0
  • General Property Description:Uncvrd Parking Spcs: 3.0
  • General Property Description:Total Parking Spcs: 9.0
  • Parking:Free: Yes
  • Parking:Paved Parking: Yes
  • Parking:Public Parking: Yes

Utilities

  • Electric: SRP
  • Cooling: Central A/C
  • Heating: Electric
  • Green Building Features: Basement, Kitchen
  • Water Source: City Franchise
  • Heating:Electric: Yes

Association/Amenities

  • Amenities:Kitchen: Yes
  • Amenities:Basement: Yes

Fee Information

  • Trash Expense: 1284.0
  • Annual Water Sewer Expense: 4380.0

Lot Info

  • Lot Size Sq Ft: 30723.0
  • Additional Parcels: No
  • Parcel #: 137-20-001-F
  • ResoLotSizeUnits: SquareFeet

Multi Family

  • Electric Expense: 2760.0
  • Annual Gross Income: 103020.85
  • Property Net Operating Income: 88881.8
  • Vacancy Allowance Rate: 0.05

Tax Info

  • Tax Annual Amount: 11158.0
  • Tax Book Number: 137.00
  • Tax Lot: F
  • Tax Map Number: 20.00

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Mar 6, 2023
Closed on
Jul 5, 2023
Sold by
Pearce Enterprises Llc
Bought by
Midnight Holdings Llc
Seller's Agent
Garrett Hemeyer
Orion Investment Real Estate
Buyer's Agent
Glen Groetsch
Coldwell Banker Realty
List Price
$1,400,000
Sold Price
$1,400,000
Total Days on Market
65
Views
41
Current Estimated Value
$1,484,149

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$84,149
Avg. Annual Appreciation
1.66%
Original Mortgage
$700,000
Outstanding Balance
$688,225
Interest Rate
6.57%
Mortgage Type
Credit Line Revolving
Estimated Equity
$755,909

Purchase Details

Closed on
Jan 6, 2014
Sold by
Pearce Enterprises
Bought by
Pearce Enterprises Llc

Range of Values:

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Average Value
Not Available
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
Midnight Holdings Llc $1,400,000 Grand Canyon Title
Pearce Enterprises Llc -- None Available
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Midnight Holdings Llc $700,000
Closed Midnight Holdings Llc $575,000
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
07/05/2023 07/05/23 Sold $1,400,000 0.0% $145 / Sq Ft
06/22/2023 06/22/23 For Sale $1,400,000 0.0% $145 / Sq Ft
02/06/2023 02/06/23 For Sale $1,400,000 -- $145 / 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 $10,656 $105,266 -- --
2024 $11,068 $103,386 -- --
2023 $11,068 $148,716 $55,369 $93,347
2022 $11,158 $155,015 $40,880 $114,135
2021 $11,617 $140,778 $42,048 $98,730
2020 $11,466 $133,164 $28,872 $104,292
2019 $10,712 $90,918 $29,124 $61,794
2018 $10,282 $91,836 $26,766 $65,070
2017 $9,975 $80,154 $24,786 $55,368
2016 $10,360 $80,784 $22,122 $58,662
2015 $12,929 $104,969 $20,387 $84,582
Source: Public Records

Agents Affiliated with this Home

  • Garrett Hemeyer

    Seller's Agent in 2023

    Garrett Hemeyer

    Orion Investment Real Estate

    (480) 848-3168

    2 in this area

    16 Total Sales

    Garrett Hemeyer
    Section Image
  • Colt Siler

    Seller Co-Listing Agent in 2023

    Colt Siler

    Orion Investment Real Estate

    (480) 355-2222

    2 in this area

    12 Total Sales

    Colt Siler
    Section Image
  • Glen Groetsch

    Buyer's Agent in 2023

    Glen Groetsch

    Coldwell Banker Realty

    (480) 225-5999

    1 in this area

    77 Total Sales

    Glen Groetsch
    Section Image
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Map

Source: Arizona Regional Multiple Listing Service (ARMLS)

MLS Number: 6528427

Arizona Regional Multiple Listing Service (ARMLS)

APN: 137-20-001F

Arizona Maricopa County Mesa 85201 Evergreen Historic District

40 W Brown Rd Unit 109, Mesa, AZ

Homes for Sale in Mesa, AZ

This home is located at 40 W Brown Rd Unit 109, Mesa, AZ 85201 since 06 March 2023 and is currently estimated at $1,484,149, approximately $154 per square foot. This property was built in 1983. 40 W Brown Rd Unit 109 is a home located in Maricopa County with nearby schools including Whitman 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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