4227 North Brown Avenue Scottsdale, AZ 85251 FOR SALE
4227 North Brown Avenue Scottsdale, AZ 85251 FOR SALE
4227 North Brown Avenue Scottsdale, AZ 85251 FOR SALE
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Great Value-Add Potential Property in Excellent location<br />
Owner / User or Investment Opportunity<br />
<strong>FOR</strong> <strong>SALE</strong><br />
great owner/user investment<br />
opportunity<br />
<strong>4227</strong> <strong>North</strong> <strong>Brown</strong> <strong>Avenue</strong><br />
<strong>Scottsdale</strong>, <strong>AZ</strong> <strong>85251</strong><br />
KELLY O’DEA<br />
kodea@levrose.com<br />
480.294.6005
<strong>4227</strong> <strong>North</strong> <strong>Brown</strong> <strong>Avenue</strong><br />
E. Stetson Dr.<br />
Property Proile<br />
N. Scosdale Rd.<br />
E. 4th Ave.<br />
E. 3rd Ave.<br />
N. Drinkwater Blvd.<br />
site<br />
N. <strong>Brown</strong> Ave.<br />
E. Indian School Rd.<br />
E. 6th Ave.<br />
Address: <strong>4227</strong> <strong>North</strong> <strong>Brown</strong> <strong>Avenue</strong><br />
<strong>Scottsdale</strong>, Arizona<br />
Property: 1 Story retail/ofice building<br />
Size: ±2,513 square feet of ofice/retail<br />
situated on ± .11 acres of land<br />
Zoning: C-2DO, P-3, DO & P-2 City of <strong>Scottsdale</strong><br />
Year Built: 1971<br />
Trafic Counts:<br />
N. <strong>Scottsdale</strong> Road & E. 6th <strong>Avenue</strong>:<br />
32,573 CPD<br />
E. Stetson Dr.<br />
Pricing Summary<br />
E. 5th Ave.<br />
N. Drinkwater Blvd.<br />
E. 6th Ave.<br />
Price: $475,000<br />
Per Square Foot: $189.02<br />
E. 4th Ave.<br />
N. <strong>Brown</strong> Ave.<br />
site<br />
Executive Summary<br />
Page 2
<strong>4227</strong> <strong>North</strong> <strong>Brown</strong> <strong>Avenue</strong><br />
Executive Summary<br />
Summary<br />
LevRose Real Estate has been exclusively retained<br />
LevRose Real Estate has been exclusively retained<br />
to sell <strong>4227</strong> N <strong>Brown</strong> Ave in <strong>Scottsdale</strong>, Arizona. It<br />
consists of two freestanding, approximately 1,250<br />
square feet buildings with a center courtyard.<br />
Owners of similar properties in the immediate<br />
area have enclosed the center courtyard to add<br />
additional building square footage and create a<br />
continuous low of the internal space. Additional<br />
options allow for a user to renovate one of the<br />
buildings to their desired layout with own choice<br />
of ixtures and inishes.<br />
Location Highlights<br />
Downtown <strong>Scottsdale</strong> offers a combination of some of the inest shopping,<br />
night life, cultural and tourist attractions, galleries, and dining in the State.<br />
<strong>Scottsdale</strong> Fashion Square Mall is reported as the largest shopping mall in<br />
Arizona and the American Southwest with approximately 2 million square<br />
feet; and one of the top 10 most proitable malls in the country with over<br />
$740 sales per square foot (more than $400 over the national average)<br />
with its 12 million visitors annually. This property enjoys a central location<br />
surrounded by: the Art and Culture, Gallery District, Old Town District,<br />
5th Ave District, Civic Center District, Fashion Square District, Waterfront<br />
District, and Entertainment District; along with Special Events, Dining,<br />
and a Free Trolley.<br />
In recent months there has been a surge in multifamily residential projects<br />
breaking ground and in planning stages which will eventually bring thousands<br />
of additional full time residents to the immediate area. This expectedly should<br />
create a great beneit all the area properties and businesses.<br />
Investment Highlights<br />
• A quickly depleting inventory, this is one of the<br />
few available Downtown properties within similar<br />
square footage<br />
• Ability to renovate or add value to a new owner’s<br />
choosing<br />
• Excellent proximity to area amenities. Walking<br />
distance to Banks, Hotels, Coffee Shops, Fine Dining,<br />
and much more<br />
• Vastly improving Downtown with many new Highend<br />
Residents to soon be in the community.<br />
Executive Summary<br />
Page 1
<strong>4227</strong> <strong>North</strong> <strong>Brown</strong> <strong>Avenue</strong><br />
The Property<br />
Project Summary<br />
Project<br />
<strong>4227</strong> <strong>North</strong> <strong>Brown</strong> <strong>Avenue</strong><br />
<strong>Scottsdale</strong>, <strong>AZ</strong> <strong>85251</strong><br />
Property Type<br />
One story retail/ofice building<br />
Size<br />
Total SF: ±2,513 SF<br />
Parcel Size<br />
±4,791 SF<br />
Year Built<br />
1971<br />
Land Area<br />
±4,791 SF<br />
Building Square Feet<br />
±2,513 SF<br />
Common Area<br />
Zoning<br />
C-2/DO, P-3, DO & P-2 DO City of <strong>Scottsdale</strong> - The Downtown<br />
Overlay district allows new opportunities for the development and/<br />
or expansion of properties in the downtown area.<br />
Municipal Services and Utilities<br />
Water........................................... City of <strong>Scottsdale</strong><br />
Electric......................................... APS<br />
Telephone.................................... Cox Communications<br />
Sewer............................................ City of <strong>Scottsdale</strong><br />
Police/Fire...................................City of <strong>Scottsdale</strong><br />
Assessor Parcel No.<br />
173-51-047A<br />
Tax Data<br />
$6,536 (2012)<br />
$6,268 (2011)<br />
The Property<br />
Page 3
<strong>4227</strong> <strong>North</strong> <strong>Brown</strong> <strong>Avenue</strong><br />
Sale Comps<br />
SUMMARY<br />
Properties Surveyed<br />
8<br />
Property Size Average<br />
3,310 SF<br />
Year Built Average<br />
1975<br />
7020 E. 1st Ave.<br />
<strong>Scottsdale</strong>, <strong>AZ</strong> <strong>85251</strong><br />
7113 E. 1st Ave.<br />
<strong>Scottsdale</strong>, <strong>AZ</strong> <strong>85251</strong><br />
7119 E. ist Ave.<br />
<strong>Scottsdale</strong>, <strong>AZ</strong> <strong>85251</strong><br />
7281 E. Earll Dr. Bldg. A<br />
<strong>Scottsdale</strong>, <strong>AZ</strong> <strong>85251</strong><br />
Sale Price Average<br />
$742,500<br />
Average Sale Price/SF<br />
$224.32<br />
Close Date ............................1/31/2012<br />
Closing Price .........................$815,000<br />
Rentable SF.................................3,200<br />
Price/Rentable SF ...................$254.69<br />
Type ............................................ Offi ce<br />
Year Built ......................................1986<br />
Comments:<br />
Close Date ..............................6/6/2012<br />
Closing Price .........................$440,000<br />
Rentable SF.................................1,568<br />
Price/Rentable SF ...................$280.61<br />
Building Type ........ Retail Freestanding<br />
Year Built ......................................1950<br />
Comments:<br />
Close Date ................................2/22/13<br />
Closing Price .........................$540,000<br />
Rentable SF.................................2,712<br />
Price/Rentable SF ...................$199.12<br />
Type ............................................ Offi ce<br />
Year Built ......................................1962<br />
Comments:<br />
Close Date ............................8/18/2012<br />
Closing Price ......................$1,100,000<br />
Rentable SF.................................6,328<br />
Price/Rentable SF ...................$173.83<br />
Building Type .............................. Offi ce<br />
Year Built ......................................2001<br />
Comments:<br />
3637 N. Goldwater Blvd.<br />
<strong>Scottsdale</strong>, <strong>AZ</strong> <strong>85251</strong><br />
4167 N. Marshall Way<br />
<strong>Scottsdale</strong>, <strong>AZ</strong> <strong>85251</strong><br />
7449 E. Osborn Rd.<br />
<strong>Scottsdale</strong>, <strong>AZ</strong> <strong>85251</strong><br />
4439 N. Saddlebag Trl.<br />
<strong>Scottsdale</strong>, <strong>AZ</strong> <strong>85251</strong><br />
Close Date ............................4/20/2012<br />
Closing Price .........................$675,000<br />
Rentable SF.................................3,327<br />
Price/Rentable SF ...................$202.89<br />
Type ...................... Retail Freestanding<br />
Year Built ......................................1973<br />
Comments:<br />
Close Date ............................3/15/2013<br />
Closing Price .........................$710,000<br />
Rentable SF.................................2,655<br />
Price/Rentable SF ...................$267.42<br />
Building Type ... Retail Storefront/Offi ce<br />
Year Built ......................................1972<br />
Comments:<br />
Close Date ..........................12/20/2012<br />
Closing Price ...........................700,000<br />
Rentable SF.................................3,963<br />
Price/Rentable SF ...................$176.63<br />
Building Type .............................. Offi ce<br />
Year Built ......................................1977<br />
Comments:<br />
Close Date ............................2/25/2013<br />
Closing Price .........................$960,000<br />
Rentable SF.................................2,728<br />
Price/Rentable SF ...................$351.91<br />
Building Type .............................. Offi ce<br />
Year Built ......................................1982<br />
Comments:<br />
The Property<br />
Page 3
LevRose Real Estate 2012 - This information has been secured from sources<br />
believed to be reliable, but no representations or warranties are made,<br />
expressed or implied, as to the accuracy of the information. References<br />
to square footage are approximate. Buyer and tenant must verify the<br />
information and bear all risk for any inaccuracies.<br />
KELLY O’DEA<br />
Vice President<br />
kodea@levrose.com<br />
480.294.6005<br />
4414 N. Civic Center Plaza Suite 100, <strong>Scottsdale</strong>, <strong>AZ</strong> <strong>85251</strong><br />
(O)480.947.0600 (F)480.941.5900 www.levrose.com
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