NOT LISTED FOR SALE

7018 E Main St Scottsdale, AZ 85251

Old Town Scottsdale Neighborhood

Estimated Value: $2,503,009

-- Bed
-- Bath
3,461 Sq Ft
$723/Sq Ft Est. Value

Last Sold June 15, 2015

Last sale price $1,125,000 $325 Per Sq Ft

Est. 122% increase in value since last sale

Current estimated payment $13,870/month

57 Days on Market

Highlights

  • 0.15 Acre Lot
  • Community Kitchen
  • Heating Available
  • Wood Flooring
  • Central Air

About This Home

As of June 2015

This is a great opportunity to own a Restaurant in old town Scottsdale with a WELL established BAR & Restaurant TENANT (Genuine Concepts) in place “THE BEVERLY” formerly ''Mabel's on Main''. This is instant rental cash flow for anyone looking to own in the highly coveted Scottsdale market. This restaurant has a tremendous following with the chef Jorge Gomez menu, is one of Old town Scottsdale's best upscale lounge (speakeasy) restaurant. The Current Tenant (operator) has a nine year lease. The property had a new roof in 2013 and a complete remodel in 2009.

Last Agent to Sell the Property

David Prom

N.B. Andrews and Associates License #BR551476000 Listed on: 02/11/2015

Last Buyer's Agent

David Prom

N.B. Andrews and Associates License #BR551476000 Listed on: 02/11/2015

Property Details

Property Type

  • Other

Est. Annual Taxes

  • $6,990

Year Built

  • Built in 1977

Lot Details

  • 6,400 Sq Ft Lot
  • Property is zoned C-2

Home Design

  • Foam Roof
  • Block Exterior

Interior Spaces

  • 3,461 Sq Ft Home
  • Wood Flooring

Parking

  • 4 Open Parking Spaces
  • 4 Parking Spaces

Utilities

  • Central Air
  • Heating Available

Listing and Financial Details

  • Tax Lot 16
  • Assessor Parcel Number 130-12-065

Community Details

Amenities

  • Community Kitchen

Building Details

  • Operating Expense $34,908
  • Net Operating Income $102,000

Property Details

Property Type

Other

Est. Annual Taxes

$6,990

Year Built

Built in 1977

Lot Details

0

Listing Details

  • Cross Street: Scottsdale Rd & Indianschool Rd
  • Legal Info Range: 4E
  • Property Type: Comm/Industry Sale
  • Zoning: C-2
  • Current Use: Restaurant, Food Service, Bar
  • Number Of Buildings: 1
  • Year Built: 1977
  • Tax Year: 2014
  • Directions: South on Scottsdale Rd. To Main, Turn West on Main to Restaurant on the North side of the street.
  • Lot Size Acres: 0.15
  • Road Surface Type: Asphalt, Dedicated Street, Curb(s) & Gutter(s), Sidewalk(s), Alley
  • Structure Type: Commercial
  • Special Features: None
  • Property Sub Type: Other

Interior Features

  • Flooring: Wood

Exterior Features

  • Fencing: None
  • Construction Type: Block
  • Roof: See Remarks, Foam, Other
  • Construction:Block: Yes

Garage/Parking

  • Open Parking Spaces: 4.0
  • Total Parking Spaces: 4.0
  • General Property Description:Uncvrd Parking Spcs: 4.0
  • General Property Description:Total Parking Spcs: 4.0
  • Parking:Public Parking: Yes

Utilities

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

Association/Amenities

  • Amenities:Kitchen: Yes

Lot Info

  • Lot Size Sq Ft: 6400.0
  • Additional Parcels: No
  • Parcel #: 130-12-065
  • ResoLotSizeUnits: SquareFeet

Multi Family

  • Insurance Expense: 21018.0
  • Property Net Operating Income: 102000.0
  • Annual Operating Expense: 34908.0

Tax Info

  • Tax Annual Amount: 6990.0
  • Tax Book Number: 130.00
  • Tax Lot: 16
  • Tax Map Number: 12.00

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Feb 11, 2015
Closed on
Jun 5, 2015
Sold by
8132 Inc
Bought by
Rupal Investment Llc
Seller's Agent
David Prom
N.B. Andrews and Associates
Buyer's Agent
David Prom
N.B. Andrews and Associates
List Price
$1,290,000
Sold Price
$1,125,000
Premium/Discount to List
-$165,000
-12.79%
Total Days on Market
57
Current Estimated Value
$2,503,009

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$1,378,009
Avg. Annual Appreciation
8.38%

Purchase Details

Closed on
Jun 24, 2013
Sold by
7018 East Main Llc
Bought by
8132 Inc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$750,000
Interest Rate
3.48%
Mortgage Type
Commercial

Purchase Details

Closed on
Jun 10, 2009
Sold by
Gillen Mary E
Bought by
7018 East Main Llc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$900,000
Interest Rate
4.82%
Mortgage Type
Seller Take Back
Source: Public Records

Range of Values:

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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
Rupal Investment Llc $1,125,000 First Arizona Title Agency
8132 Inc $1,250,000 First Arizona Title Agency
7018 East Main Llc $1,000,000 Talon Group Tatum Gardens
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Previous Owner 8132 Inc $750,000
Previous Owner 7018 East Main Llc $250,000
Previous Owner 7018 East Main Llc $500,000
Previous Owner 7018 East Main Llc $900,000
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
06/15/2015 06/15/15 Sold $1,125,000 -12.8% $325 / Sq Ft
04/09/2015 04/09/15 Pending -- -- --
02/11/2015 02/11/15 For Sale $1,290,000 -- $373 / 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 $7,040 $100,898 -- --
2024 $7,170 $99,096 -- --
2023 $7,170 $112,846 $85,425 $27,421
2022 $7,002 $97,510 $71,715 $25,795
2021 $7,652 $99,594 $73,764 $25,830
2020 $7,585 $88,938 $62,244 $26,694
2019 $7,359 $85,158 $59,274 $25,884
2018 $7,368 $83,862 $57,780 $26,082
2017 $7,292 $87,426 $57,780 $29,646
2016 $7,151 $81,810 $54,288 $27,522
2015 $6,996 $79,421 $53,354 $26,067
Source: Public Records

Agents Affiliated with this Home

  • David Prom

    Seller's Agent in 2015

    David Prom

    N.B. Andrews and Associates

    (602) 527-9110

    23 Total Sales

    David Prom
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Map

Source: Arizona Regional Multiple Listing Service (ARMLS)

MLS Number: 5235406

Arizona Regional Multiple Listing Service (ARMLS)

APN: 130-12-065

Arizona Maricopa County Scottsdale 85251 Old Town Scottsdale

7018 E Main St, Scottsdale, AZ

This home is located at 7018 E Main St, Scottsdale, AZ 85251 since 11 February 2015 and is currently estimated at $2,503,009, approximately $723 per square foot. This property was built in 1977. 7018 E Main St is a home located in Maricopa County with nearby schools including Tonalea Middle School, Coronado High School, and Hirsch Academy A Challenge Foundation.

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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