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Ryan Ney

My Home Group Real Estate

ryan@realscottsdalehomes.com +1(480) 566-9249

$2,295,000

Est. payment - /mo

0.92 Acres Lot

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UPDATED:

Key Details

Property Type Commercial

Listing Status Active

Purchase Type For Sale

MLS Listing ID 6980540

Maintenance Fees $1,500

Year Built 1982

Annual Tax Amount $2,888

Tax Year 2025

Lot Size 0.920 Acres

Acres 0.92

Source Arizona Regional Multiple Listing Service (ARMLS)

Property Description

Seller-carry mixed-use investment at 760-778 W Wickenburg Way includes two commercial buildings leased to a national ambulance company on an NNN lease, six 1-bedroom apartments, three parcels and excess land. Five apartments are occupied; one is available for lease-up. Lease runs through 11/30/2028 with 3% annual increases and two 5-year options. Tenant reimburses property taxes and insurance. Seller carry available at 5% interest, 25-year amortization and 5-year term, subject to approval. Qualified Opportunity Zone location. Approx. 6,182 SF on 40,076 SF/0.92 acre. Current income after operating expenses is $121,654 with a 5.30% cap rate. Pro forma income after operating expenses is $147,041 with a 6.41% cap rate. Offered at $2,295,000, 760-778 W Wickenburg Way presents a diversified mixed-use investment combining commercial and residential income with additional development or expansion potential. The offering includes two commercial buildings, six one-bedroom apartments and three parcels totaling approximately 40,076 square feet, or 0.92 acre. The existing building area totals approximately 6,182 square feet.

The commercial portion is leased to a national ambulance company under an NNN lease that began December 1, 2023, and continues through November 30, 2028. The lease includes contractual 3% annual rent increases and two additional five-year extension options. The tenant reimburses property taxes and insurance, helping limit the owner's exposure to these expenses.

The residential component consists of six one-bedroom apartments. Five apartments are currently occupied, with one unit available for lease-up. The occupied apartments also generate utility reimbursement income. Leasing the remaining apartment provides an identifiable opportunity to increase income.

CURRENT FINANCIAL PERFORMANCE:

Effective Gross Income: $160,457
Operating Expenses: $38,803
Income After Operating Expenses: $121,654
Current Cap Rate: 5.30%

PRO FORMA FINANCIAL PERFORMANCE:

Gross Scheduled Income: $186,240
Other Income: $3,456
Vacancy Allowance: 1%
Effective Gross Income: $187,799
Operating Expenses: $40,758
Income After Operating Expenses: $147,041
Pro Forma Cap Rate: 6.41%

Seller financing is available at 5% interest, amortized over 25 years with a five-year loan term, subject to seller approval, buyer qualification and final loan documentation.

The property is located within a federally designated Qualified Opportunity Zone and along Wickenburg's primary commercial corridor. The excess land may provide future expansion or development potential, subject to zoning, governmental approvals and independent buyer investigation.

Buyer to independently verify all facts, figures, square footage, parcel information, rents, income, expenses, lease terms, zoning, development potential, Opportunity Zone eligibility and any other information material to the purchase decision. Buyer should consult independent legal, tax and financial advisors.

Location

State AZ

County Maricopa

Area Maricopa

Zoning C-3/C-G

Direction From the roundabout, travel west on US 60/W Wickenburg Way. The property is located on the north side of Wickenburg Way near Maverick Street.

Interior

Heating Heat Pump, 2 or More Units

Cooling Ceiling Fan(s), Heat Pump

Flooring Carpet

Exterior

Parking Features Off Street, Parking Lot, Other, Paved, Free

Fence Block, Chain Link, Partial

Roof Type Foam

Private Pool No

Building

Dwelling Type Other (See Remarks),Commercial,Office

Sewer Sewer-In & Connected, Public Sewer

Water City Franchise, Master Meter

New Construction No

Others

Senior Community No

Tax ID 505-33-005

Ownership Fee Simple

Disclosures Other (See Remarks), Seller Prop Disc Stm, APOD/Backup Avaible, Sch of Personal Prop

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Listed by Gerchick Real Estate • Linda S Gerchick

NEARBY SCHOOL & BUSINESS

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Ryan Ney

+1(480) 566-9249

Realtor® ~ Team Leader SASA548713000

Scottsdale Speciality Searches

778 W WICKENBURG Way Wickenburg, AZ 85390

Ryan Ney

Key Details

Location

Interior

Exterior

Building

Others

NEARBY SCHOOL & BUSINESS

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