NOT LISTED FOR SALE

425 S Mill Ave Tempe, AZ 85281

Downtown Tempe Neighborhood

Estimated Value: $18,586,730

Studio
-- Bath
28,436 Sq Ft
$654/Sq Ft Est. Value

Sale Details

Date Sold: May 1, 2021

Last sale price $10,308 $0 Per Sq Ft

Est. 180,214% increase in value since last sale

Current estimated payment $105,875 / mo

70 Days on Market

Highlights

  • Wood Flooring
  • 3-minute walk to Mill Ave/3Rd St
  • 1-minute walk to Hayden Butte Preserve
  • Cooling Available
  • Heating Available

About This Home

As of May 2021

• +/- 3,990 SF
• $32.00 FSG asking rate
• Plug & Play Tech Space - Furniture included
• Lease expires 10/31/2023
• Available Immediately
• Outdoor patios and meeting spaces
• Vibrant and energetic Downtown Tempe location. Walk to numerous restaurants, hotels and retail shops

Last Agent to Sell the Property

Tanner Milne

The Menlo Group Commercial Real Estate License #BR559670000 Listed on: 02/02/2021

Last Buyer's Agent

Jason Miszuk

Realty ONE Group License #SA562932000

Property Details

Property Type

  • Other

Year Built

  • Built in 1979

Lot Details

  • Property is zoned CCD

Interior Spaces

  • 28,436 Sq Ft Home
  • Wood Flooring

Parking

  • 10 Open Parking Spaces
  • 10 Parking Spaces
  • Paved Parking

Utilities

  • Cooling Available
  • Heating Available

Community Details

  • Mill Avenue Lofts Subdivision

Listing and Financial Details

  • Property Available on 2/2/21
  • The owner pays for (see remarks)
  • Tax Lot 1
  • Assessor Parcel Number 132-28-931

Property Details

Property Type

Other

Year Built

Built in 1979

Lot Details

0.28 Acres

Listing Details

  • Legal Info Range: 4E
  • Property Type: Comm/Industry Lease
  • Zoning: CCD
  • Lease Info Annual Lease Price: 127680.0
  • Lease Info Annual Lse Prc P S F: 32.0
  • Lease Info Base Rent Escalation: Yes
  • Lease Info Lease Year Min Max: Negotiable
  • Lease Info Space Divisible: No
  • Year Built: 1979
  • Tax Year: 2020
  • Subdivision Name: MILL AVENUE LOFTS
  • Structure Type: Office
  • Special Features: VirtualTour
  • Property Sub Type: Other

Interior Features

  • Flooring: Wood
  • Living Area: 28436.0

Exterior Features

  • Disclosures: Other (See Remarks)
  • Construction Type: See Remarks
  • Roof: See Remarks
  • Construction:Other (See Remarks)23: Yes

Garage/Parking

  • Parking Features: Paved Parking
  • Attached Garage: No
  • Open Parking Spaces: 10.0
  • Total Parking Spaces: 10.0
  • General Property Description:Uncvrd Parking Spcs: 10.0
  • General Property Description:Total Parking Spcs: 10.0
  • Parking:Paved Parking: Yes

Utilities

  • Electric: Other (See Remarks)
  • Cooling: Other, See Remarks
  • Heating: Other, See Remarks
  • Cooling Y N: Yes
  • Heating Yn: Yes
  • Water Source: Other
  • Main Cooling Other: Yes

Lot Info

  • Additional Parcels: No
  • Parcel #: 132-28-931

Rental Info

  • Available Date: 2021-02-02

Multi Family

  • Owner Pays: Other (See Remarks)
  • Tenant Pays: None
  • Existing Lease Type: Full Service
  • Leasable Area: 3990.0

Tax Info

  • Tax Annual Amount: 77904.0
  • Tax Book Number: 132.00
  • Tax Lot: 1
  • Tax Map Number: 28.00

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Feb 2, 2021
Closed on
Jun 17, 2021
Sold by
Tempe 425 Mill Lp
Bought by
Nicola South Mill Lp
Seller's Agent
Tanner Milne
The Menlo Group Commercial Real Estate
Buyer's Agent
Jason Miszuk
Realty ONE Group
List Price
$8,000
Sold Price
$10,308
Premium/Discount to List
$2,308
28.85%
Current Estimated Value
$18,586,730

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$18,576,422
Avg. Annual Appreciation
350.63%

Purchase Details

Closed on
Jan 15, 2016
Sold by
425 S Mill Llc
Bought by
Tempe 425 Mill Lp

Purchase Details

Closed on
Aug 29, 2012
Sold by
Plato Donald Joseph and Lee Plato Mei Jen
Bought by
425 S Mill Llc

Purchase Details

Closed on
Dec 1, 2006
Sold by
Plato Donald Joseph and Lee Plato Mei Jen
Bought by
Plato Donald Joseph and Lee Plato Mei Jen

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$2,300,000
Interest Rate
6.22%
Mortgage Type
Construction

Purchase Details

Closed on
Nov 5, 2002
Sold by
Wealth Properties I
Bought by
Plato Donald Joseph and Lee Plato Mei Jen

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,140,000
Interest Rate
5.95%
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
Nicola South Mill Lp $16,550,000 First American Title
Tempe 425 Mill Lp $9,995,000 Commonwealth Title
425 S Mill Llc -- First American Title Ins Co
Plato Donald Joseph -- Grand Canyon Title Agency
Plato Donald Joseph $1,340,000 First Financial Title Agency
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Previous Owner Plato Donald Joseph $2,300,000
Previous Owner Plato Donald Joseph $1,140,000
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
05/01/2021 05/01/21 Sold $10,308 -3.1% $0 / Sq Ft
04/13/2021 04/13/21 Pending -- -- --
02/08/2021 02/08/21 Price Changed $10,640 +33.0% $0 / Sq Ft
02/02/2021 02/02/21 For Sale $8,000 -- $0 / Sq Ft
Source: Arizona Regional Multiple Listing Service (ARMLS)

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 $87,999 $688,823 -- --
2024 $86,022 $676,522 -- --
2023 $86,022 $882,861 $126,004 $756,857
2022 $84,598 $678,073 $143,973 $534,100
2021 $80,290 $778,735 $136,897 $641,838
2020 $77,904 $760,898 $123,336 $637,562
2019 $75,438 $745,855 $123,336 $622,519
2018 $73,532 $717,584 $118,394 $599,190
2017 $71,324 $716,152 $109,624 $606,528
2016 $70,532 $648,345 $91,354 $556,991
2015 $69,984 $514,020 $81,693 $432,327
Source: Public Records

Agents Affiliated with this Home

  • T

    Seller's Agent in 2021

    Tanner Milne

    The Menlo Group Commercial Real Estate

    Section Image
  • Jason Miszuk

    Buyer's Agent in 2021

    Jason Miszuk

    Realty One Group

    (602) 363-5058

    1 in this area

    40 Total Sales

    Jason Miszuk
    Section Image
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Map

Source: Arizona Regional Multiple Listing Service (ARMLS)

MLS Number: 6188920

Arizona Regional Multiple Listing Service (ARMLS)

APN: 132-28-931

Arizona Maricopa County Tempe 85281 Downtown Tempe

425 S Mill Ave, Tempe, AZ

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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