NOT LISTED FOR SALE

850 W Elliot Rd Tempe, AZ 85284

South Tempe Neighborhood

Estimated Value: $6,718,418

-- Bed
-- Bath
24,960 Sq Ft
$269/Sq Ft Est. Value

Last Sold May 28, 2021

Last sale price $4,300,000 $172 Per Sq Ft

Est. 56% increase in value since last sale

Current estimated payment $41,002/month

223 Days on Market

Highlights

  • 2.34 Acre Lot
  • Ceramic Tile Flooring
  • Heating Available
  • Kyrene de la Mariposa Elementary School Rated A-
  • Central Air

About This Home

As of May 2021

• Two (2) freestanding, single-story, Class A multi-tenant office buildings
• 850 W Elliot (east building): +/- 16,000 SF - Four (4) Office Suites
• 858 W Elliot (west building): +/- 8,960 SF - Three (3) Office Suites
• Suite 102 (+/- 6,500 SF) available for owner-user to occupy or Seller will sign a 1-year lease at $23.00/PSF Modified Gross at
COE
• Ample surface & covered parking available
• Central Tempe location with convenient access to the I-10, 101, and 202 Freeways

Last Agent to Sell the Property

Tanner Milne

The Menlo Group Commercial Real Estate License #BR559670000 Listed on: 05/26/2021

Last Buyer's Agent

Non-MLS Agent

Non-MLS Office

Property Details

Property Type

  • Other

Est. Annual Taxes

  • $65,555

Year Built

  • Built in 2001

Lot Details

  • 2.34 Acre Lot
  • Property is zoned GID

Home Design

  • 24,960 Sq Ft Home
  • Block Exterior

Flooring

  • Carpet
  • Ceramic Tile

Parking

  • 48 Open Parking Spaces
  • 104 Parking Spaces
  • 56 Covered Spaces
  • Paved Parking

Utilities

  • Central Air
  • Heating Available

Listing and Financial Details

  • Tax Lot 1
  • Assessor Parcel Number 301-90-021

Community Details

Overview

  • 2 Buildings
  • Roosevelt Commerce Park Subdivision

Building Details

  • Operating Expense $194,015
  • Gross Income $495,888
  • Net Operating Income $327,969

Property Details

Property Type

Other

Est. Annual Taxes

$65,555

Year Built

Built in 2001

Lot Details

0

Listing Details

  • Cross Street: W Elliot Rd & S Hardy Dr
  • Legal Info Range: 4E
  • Property Type: Comm/Industry Sale
  • Zoning: GID
  • Number Of Buildings: 2
  • Ownership: Other (See Remarks)
  • Year Built: 2001
  • Tax Year: 2020
  • Lot Size Acres: 2.34
  • Professional Management Expense: 14000.0
  • Subdivision Name: ROOSEVELT COMMERCE PARK
  • Structure Type: Office
  • Special Features: None
  • Property Sub Type: Other

Interior Features

  • Flooring: Carpet, Ceramic Tile
  • Living Area: 24960.0

Exterior Features

  • Fencing: None
  • Disclosures: Other (See Remarks)
  • Construction Type: Block
  • Roof: See Remarks
  • Construction:Block: Yes

Garage/Parking

  • Total Covered Spaces: 56.0
  • Parking Features: Paved Parking
  • Attached Garage: No
  • Open Parking Spaces: 48.0
  • Total Parking Spaces: 104.0
  • General Property Description:Covered Parking Spcs: 56.0
  • General Property Description:Uncvrd Parking Spcs: 48.0
  • General Property Description:Total Parking Spcs: 104.0
  • Parking:Paved Parking: Yes

Utilities

  • Electric: Other (See Remarks)
  • Cooling: Central A/C
  • Heating: Electric
  • Water Source: City Franchise
  • Heating:Electric: Yes

Fee Information

  • Trash Expense: 1190.0
  • Annual Water Sewer Expense: 6109.0

Lot Info

  • Lot Size Sq Ft: 102001.0
  • Parcel #: 301-90-021
  • ResoLotSizeUnits: SquareFeet

Multi Family

  • Electric Expense: 40595.0
  • Annual Gross Income: 495887.65
  • Insurance Expense: 4952.0
  • Maintenance Expense: 15440.0
  • Property Net Operating Income: 327969.0
  • Annual Operating Expense: 194015.0
  • Vacancy Allowance Rate: 0.05

Tax Info

  • Tax Annual Amount: 65555.0
  • Tax Book Number: 301.00
  • Tax Lot: 1
  • Tax Map Number: 90.00

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
May 24, 2024
Sold by
22 Kendrick Llc
Bought by
Hana Koa Llc
Current Estimated Value
$6,718,418

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$5,270,000
Outstanding Balance
$5,196,105
Interest Rate
6.88%
Mortgage Type
New Conventional
Estimated Equity
$1,522,313

Purchase Details

Listed on
May 26, 2021
Closed on
May 26, 2021
Sold by
1250 Bayshore Highway Llc
Bought by
22 Kendrick Llc
Seller's Agent
Tanner Milne
The Menlo Group Commercial Real Estate
Buyer's Agent
Non-MLS Agent
Non-MLS Office
List Price
$4,900,000
Sold Price
$4,300,000
Premium/Discount to List
-$600,000
-12.24%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
10.80%
Original Mortgage
$3,440,000
Interest Rate
3%
Mortgage Type
Future Advance Clause Open End Mortgage

Purchase Details

Closed on
Sep 26, 2018
Sold by
T W Lewis Office Llc
Bought by
1250 Bayshore Highway Llc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$2,665,000
Interest Rate
4.5%
Mortgage Type
Commercial

Purchase Details

Closed on
Jun 13, 2003
Sold by
Neff Barbara A and Neff William L
Bought by
Neff Barbara A and Neff William L

Purchase Details

Closed on
Apr 12, 2000
Sold by
Redblack Llc
Bought by
Neff William L and Neff Barbara A

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$132,000
Interest Rate
8.24%
Mortgage Type
Purchase Money Mortgage

Purchase Details

Closed on
Nov 11, 1999
Sold by
Warne Family Charitable Ltd Partnership
Bought by
T W Lewis Office Llc
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
Hana Koa Llc $6,200,000 None Listed On Document
22 Kendrick Llc $4,300,000 Commonwealth Title
1250 Bayshore Highway Llc $4,100,000 Commonwealth Title
Neff Barbara A -- --
Neff William L $39,000 Security Title Agency
T W Lewis Office Llc $816,000 Chicago Title Insurance Co
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Hana Koa Llc $5,270,000
Previous Owner 22 Kendrick Llc $3,440,000
Previous Owner 1250 Bayshore Highway Llc $2,665,000
Previous Owner Neff William L $132,000
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
05/28/2021 05/28/21 Sold $4,300,000 -9.8% $172 / Sq Ft
03/22/2021 03/22/21 Pending -- -- --
10/20/2020 10/20/20 Price Changed $4,766,000 -2.7% $191 / Sq Ft
08/11/2020 08/11/20 For Sale $4,900,000 -- $196 / 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 $64,600 $592,735 -- --
2024 $64,943 $582,150 -- --
2023 $64,943 $883,898 $223,941 $659,957
2022 $63,751 $618,555 $140,875 $477,680
2021 $67,039 $628,596 $144,900 $483,696
2020 $65,555 $602,496 $127,422 $475,074
2019 $63,611 $558,990 $122,724 $436,266
2018 $61,674 $476,550 $118,062 $358,488
2017 $59,306 $549,828 $109,314 $440,514
2016 $59,836 $550,440 $96,732 $453,708
2015 $56,714 $538,128 $94,461 $443,667
Source: Public Records

Agents Affiliated with this Home

  • T

    Seller's Agent in 2021

    Tanner Milne

    The Menlo Group Commercial Real Estate

    Section Image

  • N

    Buyer's Agent in 2021

    Non-MLS Agent

    Non-MLS Office

See All Agents

Map

Source: Arizona Regional Multiple Listing Service (ARMLS)

MLS Number: 6115796

Arizona Regional Multiple Listing Service (ARMLS)

APN: 301-90-021

Arizona Maricopa County Tempe 85283 South Tempe

850 W Elliot Rd, Tempe, AZ

This home is located at 850 W Elliot Rd, Tempe, AZ 85284 since 26 May 2021 and is currently estimated at $6,718,418, approximately $269 per square foot. This property was built in 2001. 850 W Elliot Rd is a home located in Maricopa County with nearby schools including Kyrene de la Mariposa Elementary School, Kyrene Middle School, and Marcos De Niza High 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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