NOT LISTED FOR SALE

4280 N Drinkwater Blvd Scottsdale, AZ 85251

Old Town Scottsdale Neighborhood

Estimated Value: $2,756,717

1 Bed
-- Bath
6,647 Sq Ft
$415/Sq Ft Est. Value

Last Sold May 31, 2020

Last sale price $1,898,615 $286 Per Sq Ft

Est. 45% increase in value since last sale

Current estimated payment $16,605/month

23 Days on Market

Highlights

  • 0.36 Acre Lot
  • Concrete Flooring
  • Heat Pump System
  • Navajo Elementary School Rated A-

About This Home

As of May 2020

This +-6,646 SF Free standing retail building, multiple tenant NET LEASE property has 3 long term tenants (Paris Ultraclub, Simon's Hot Dogs, Fantasia Salon). Perfect for a 1031 investor looking for a consistent monthly cash flow. Consistently 100% occupied. Stand-alone single story with abundant parking is located in an outstanding demographic area, including an average household income of $123,158. Close to old town Scottsdale, Scottsdale Fashion Square, many restaurants, hotels & retail amenities. High traffic intersection at Indian School/Drinkwater of 42,400 cars per day. Newer building (2000) in good condition, 6% CAP Rate.

Last Agent to Sell the Property

Stephen Weber

Peak PM LLC License #BR038638000 Listed on: 03/31/2020

Peak PM LLC

Co-Listed By

Carol Weber

Peak PM LLC License #SA517469000

Last Buyer's Agent

Stephen Weber

Peak PM LLC License #BR038638000 Listed on: 03/31/2020

Peak PM LLC

Property Details

Property Type

  • Other

Est. Annual Taxes

  • $21,217

Year Built

  • Built in 2000

Lot Details

  • 0.36 Acre Lot
  • Property is zoned CommercialD/OR2

Home Design

  • Wood Frame Construction
  • Built-Up Roof
  • Block Exterior

Interior Spaces

  • 6,647 Sq Ft Home
  • Concrete Flooring

Parking

  • 18 Open Parking Spaces
  • 18 Parking Spaces
  • Private Parking
  • Free Parking
  • Paved Parking

Utilities

  • Heat Pump System
  • Master Water Meter

Listing and Financial Details

  • Tax Lot B3
  • Assessor Parcel Number 173-51-106-B

Community Details

Overview

  • Building Dimensions are 166 X 92
  • Scottsdale High Parcel B Mod Subdivision

Building Details

  • Operating Expense $48,917
  • Gross Income $170,842
  • Net Operating Income $123,200

Property Details

Property Type

Other

Est. Annual Taxes

$21,217

Year Built

Built in 2000

Lot Details

0

Listing Details

  • Cross Street: Indian School/Scottsdale
  • Legal Info Range: 4E
  • Property Type: Comm/Industry Sale
  • Zoning: CommercialD/OR2
  • Bay Info Bay Size: 0
  • Number Of Buildings: 1
  • Ownership: Fee Simple
  • Year Built: 2000
  • Tax Year: 2019
  • Directions: East to Drinkwater, North to property
  • Lot Size Acres: 0.36
  • Road Surface Type: Asphalt
  • Professional Management Expense: 6900.0
  • Co List Office Mls Id: peak02
  • Co List Office Phone: 480-775-5159
  • Subdivision Name: SCOTTSDALE HIGH PARCEL B MOD
  • Structure Type: Commercial
  • Tax Parcel Letter: B
  • Special Features: None
  • Property Sub Type: Other

Interior Features

  • Flooring: Concrete
  • Living Area: 6647.0

Exterior Features

  • Fencing: None
  • Disclosures: None
  • Construction Type: Frame - Wood, Block
  • Roof: Built-Up
  • Construction:Block: Yes
  • Construction:Frame - Wood2: Yes

Garage/Parking

  • Parking Features: Paved Parking, Private Parking, Free
  • Attached Garage: No
  • Open Parking Spaces: 18.0
  • Total Parking Spaces: 18.0
  • General Property Description:Uncvrd Parking Spcs: 18.0
  • General Property Description:Total Parking Spcs: 18.0
  • Parking:Free: Yes
  • Parking:Paved Parking: Yes
  • Parking:Private Parking: Yes

Utilities

  • Electric: APS
  • Cooling: Heat Pump
  • Heating: Electric
  • Water Source: City Franchise, Master Meter
  • Heating:Electric: Yes

Fee Information

  • Trash Expense: 3000.0
  • Annual Water Sewer Expense: 8400.0

Lot Info

  • Lot Size: 166 X 92
  • Lot Size Sq Ft: 15483.0
  • Parcel #: 173-51-106-B
  • ResoLotSizeUnits: SquareFeet

Multi Family

  • Electric Expense: 1200.0
  • Annual Gross Income: 170842.0
  • Insurance Expense: 5200.0
  • Property Net Operating Income: 123200.0
  • Annual Operating Expense: 48917.0

Tax Info

  • Tax Annual Amount: 21217.0
  • Tax Book Number: 173.00
  • Tax Lot: B3
  • Tax Map Number: 51.00

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Mar 31, 2020
Closed on
May 29, 2020
Sold by
Redwood Villa Inc
Bought by
Oneten Rei Main Llc
Seller's Agent
Stephen Weber
Peak PM LLC
Buyer's Agent
Stephen Weber
Peak PM LLC
List Price
$2,050,000
Sold Price
$1,898,615
Premium/Discount to List
-$151,385
-7.38%
Current Estimated Value
$2,756,717

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$858,102
Avg. Annual Appreciation
7.46%
Original Mortgage
$1,580,000
Interest Rate
3.3%
Mortgage Type
Commercial

Purchase Details

Closed on
Dec 15, 2005
Sold by
Michael T Cobler Revocable Trust
Bought by
Redwood Villa Inc

Purchase Details

Closed on
Apr 1, 2004
Sold by
Scottsdale Civic Retail Llc
Bought by
Cobler Michael T

Purchase Details

Closed on
Mar 15, 2002
Sold by
Scottsdale Civic One Llc
Bought by
Scottsdale Civic Retail Llc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$2,600,000
Interest Rate
6.85%
Mortgage Type
New Conventional
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
Oneten Rei Main Llc $1,898,615 Wfg National Title Ins Co
Redwood Villa Inc $3,200,000 Fidelity National Title Ins
Cobler Michael T $2,488,500 Fidelity National Title
Scottsdale Civic Retail Llc $3,450,000 Fidelity National Title
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Oneten Rei Main Llc $1,370,000
Closed Oneten Rei Main Llc $1,580,000
Previous Owner Redwood Villa Inc $1,675,000
Previous Owner Cobler Michael T $933,000
Previous Owner Scottsdale Civic Retail Llc $2,600,000
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
05/31/2020 05/31/20 Sold $1,898,615 -7.4% $286 / Sq Ft
03/31/2020 03/31/20 Price Changed $2,050,000 0.0% $308 / Sq Ft
01/27/2020 01/27/20 Pending -- -- --
01/04/2020 01/04/20 For Sale $2,050,000 -- $308 / 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 $20,407 $292,469 -- --
2024 $20,782 $287,246 -- --
2023 $20,782 $336,345 $185,249 $151,096
2022 $20,297 $300,528 $162,155 $138,373
2021 $22,181 $307,116 $166,788 $140,328
2020 $21,988 $286,632 $146,142 $140,490
2019 $21,217 $264,294 $139,194 $125,100
2018 $20,545 $255,546 $132,660 $122,886
2017 $19,676 $277,272 $132,660 $144,612
2016 $19,295 $212,094 $102,070 $110,024
2015 $19,819 $217,985 $104,905 $113,080
Source: Public Records

Agents Affiliated with this Home

  • Stephen Weber

    Seller's Agent in 2020

    Stephen Weber

    Peak PM LLC

    (602) 920-6402

    24 Total Sales

    Stephen Weber
    Section Image

  • C

    Seller Co-Listing Agent in 2020

    Carol Weber

    Peak PM LLC

    (480) 752-2100

    8 Total Sales

    Carol Weber
    Section Image
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Map

Source: Arizona Regional Multiple Listing Service (ARMLS)

MLS Number: 6019743

Arizona Regional Multiple Listing Service (ARMLS)

APN: 173-51-106B

Arizona Maricopa County Scottsdale 85251 Old Town Scottsdale

4280 N Drinkwater Blvd, Scottsdale, AZ

This home is located at 4280 N Drinkwater Blvd, Scottsdale, AZ 85251 since 31 March 2020 and is currently estimated at $2,756,717, approximately $414 per square foot. This property was built in 2000. 4280 N Drinkwater Blvd is a home located in Maricopa County with nearby schools including Navajo Elementary School, Pueblo Elementary School, and Mohave Middle 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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