778 W WICKENBURG Way Wickenburg, AZ 85390
0.92 Acres Lot
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
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
Disclosures Other (See Remarks), Seller Prop Disc Stm, APOD/Backup Avaible, Sch of Personal Prop
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