NOT LISTED FOR SALE

6740 E University Dr Mesa, AZ 85205

Central Mesa East Neighborhood

Estimated Value: $1,293,830

-- Bed
-- Bath
10,871 Sq Ft
$119/Sq Ft Est. Value

Last Sold February 01, 2022

Last sale price $1,365,000 $126 Per Sq Ft

Est. 5% decrease in value since last sale

Current estimated payment $8,348/month

1 Day on Market

Highlights

  • 1.1 Acre Lot
  • Ceramic Tile Flooring
  • Heating Available
  • Franklin at Brimhall Elementary School Rated A
  • Central Air

About This Home

As of February 2022

Excellent value-add investment opportunity with huge upside potential through further lease up and increasing low rents. The property is a 10,871 sq. ft. retail strip center facing University Drive with multiple access points. The site has outstanding visibility and great access to Power/University Roads. The intersection has major exposure and daytime traffic with a new Burger King next door, SRP East Valley Service Center and QuikTrip across the street. The property is located on a major traffic intersection West of the Northwest corner of Power and University. Located within the Red Mountain trade area of Mesa.

Last Agent to Sell the Property

Jack Cardon

Cardon Commercial License #BR108442000 Listed on: 11/16/2021

Last Buyer's Agent

Jack Cardon

Cardon Commercial License #BR108442000 Listed on: 11/16/2021

Property Details

Property Type

  • Other

Est. Annual Taxes

  • $20,601

Year Built

  • Built in 2006

Lot Details

  • 1.1 Acre Lot
  • Block Wall Fence
  • Property is zoned C-2

Home Design

  • 10,871 Sq Ft Home
  • Foam Roof
  • Block Exterior
  • Metal Siding
  • Stucco

Flooring

  • Carpet
  • Concrete
  • Ceramic Tile
  • Vinyl

Parking

  • 30 Open Parking Spaces
  • 30 Parking Spaces
  • Public Parking
  • Private Parking
  • Free Parking

Utilities

  • Central Air
  • Heating Available

Community Details

  • Operating Expense $20,601
  • Gross Income $120,612
  • Net Operating Income $73,373

Listing and Financial Details

  • Tax Lot 12
  • Assessor Parcel Number 141-62-012-N

Property Details

Property Type

Other

Est. Annual Taxes

$20,601

Year Built

Built in 2006

Lot Details

0

Listing Details

  • Cross Street: Power/University
  • Legal Info Range: 6E
  • Property Type: Comm/Industry Sale
  • Zoning: C-2
  • Number Of Buildings: 1
  • Ownership: Fee Simple
  • Year Built: 2006
  • Tax Year: 2021
  • Lot Size Acres: 1.1
  • Structure Type: Commercial
  • Tax Parcel Letter: N
  • Water Source City Franchise: Yes
  • Special Features: None
  • Property Sub Type: Other

Interior Features

  • Flooring: Carpet, Ceramic Tile, Vinyl, Concrete
  • Living Area: 10871.0

Exterior Features

  • Fencing: Block
  • Disclosures: None
  • Construction Type: Stucco, Metal Siding, Block
  • Roof: Foam, Rolled/Hot Mop
  • Construction:Block: Yes
  • Construction:Metal: Yes
  • Construction:Stucco2: Yes

Garage/Parking

  • Parking Features: Private, Public Parking, Free
  • Attached Garage: No
  • Open Parking Spaces: 30.0
  • Total Parking Spaces: 30.0
  • General Property Description:Uncvrd Parking Spcs: 30.0
  • General Property Description:Total Parking Spcs: 30.0
  • Parking Features Private Parking: Yes
  • Parking Features Free: Yes
  • Parking Features Public Parking: Yes

Utilities

  • Electric: SRP
  • 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: 48034.0
  • Parcel #: 141-62-012-N
  • ResoLotSizeUnits: SquareFeet

Multi Family

  • Annual Gross Income: 120612.0
  • Property Net Operating Income: 73373.0
  • Annual Operating Expense: 20601.0
  • Leasable Area: 10856.0

Tax Info

  • Tax Annual Amount: 20601.0
  • Tax Book Number: 141.00
  • Tax Lot: 12
  • Tax Map Number: 62.00

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Nov 16, 2021
Closed on
Jan 25, 2022
Sold by
Plaza Del Sol Arizona Lp
Bought by
Power Square Llc
Seller's Agent
Jack Cardon
Cardon Commercial
Buyer's Agent
Jack Cardon
Cardon Commercial
List Price
$1,365,000
Sold Price
$1,365,000
Current Estimated Value
$1,293,830

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
-$71,170
Avg. Annual Appreciation
-1.38%
Original Mortgage
$950,000
Outstanding Balance
$878,558
Interest Rate
3.22%
Mortgage Type
New Conventional
Estimated Equity
$415,272

Purchase Details

Closed on
Sep 15, 2017
Sold by
Tapanema Az Llc
Bought by
Plaza Del Sol Az Lp

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$390,000
Interest Rate
3.93%
Mortgage Type
Commercial

Purchase Details

Closed on
Oct 15, 2010
Sold by
Darling Dean C and Darling Kelly G
Bought by
Tapanema Az Llc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$600,000
Interest Rate
4.31%
Mortgage Type
Commercial

Purchase Details

Closed on
Apr 5, 2007
Sold by
Dotty Joseph B and Dotty Susan
Bought by
Darling Dean C and Darling Kelly G

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,650,000
Interest Rate
6.2%
Mortgage Type
Commercial

Purchase Details

Closed on
May 6, 1997
Sold by
Power & University Lc
Bought by
Power Wash Llc

Purchase Details

Closed on
Jun 27, 1995
Sold by
Ba Usa
Bought by
Power & University Lc
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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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
Power Square Llc $1,320,000 Landmark Title
Plaza Del Sol Az Lp $890,000 Landmark Title Assurance Age
Tapanema Az Llc $1,000,000 Fidelity Natl Title Ins Co
Darling Dean C $2,650,000 Fidelity National Title
Power Wash Llc $146,340 Fidelity Title
Power & University Lc $525,000 Fidelity Title
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Power Square Llc $950,000
Previous Owner Plaza Del Sol Az Lp $390,000
Previous Owner Tapanema Az Llc $600,000
Previous Owner Darling Dean C $1,650,000
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
02/01/2022 02/01/22 Sold $1,365,000 0.0% $126 / Sq Ft
11/17/2021 11/17/21 Pending -- -- --
11/16/2021 11/16/21 For Sale $1,365,000 -- $126 / 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 $18,417 $186,495 -- --
2024 $19,626 $183,165 -- --
2023 $19,626 $271,677 $43,605 $228,072
2022 $19,783 $252,070 $43,330 $208,740
2021 $20,601 $247,320 $44,568 $202,752
2020 $20,334 $246,276 $43,326 $202,950
2019 $19,000 $234,504 $39,996 $194,508
2018 $18,238 $228,618 $37,584 $191,034
2017 $17,696 $193,752 $34,794 $158,958
2016 $17,367 $175,392 $31,068 $144,324
2015 $16,778 $137,049 $26,807 $110,242
Source: Public Records

Agents Affiliated with this Home

  • J

    Seller's Agent in 2022

    Jack Cardon

    Cardon Commercial

    (480) 278-9007

    1 in this area

    2 Total Sales

    Jack Cardon
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Map

Source: Arizona Regional Multiple Listing Service (ARMLS)

MLS Number: 6322034

Arizona Regional Multiple Listing Service (ARMLS)

APN: 141-62-012N

Arizona Maricopa County Mesa 85205 Central Mesa East

6740 E University Dr, Mesa, AZ

Not Listed for Sale

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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