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441 N Grand Avenue

Nogales, AZ 85621
  • $3,000,000
  • STATUS: Active
  • ID#: 22327313
$3,000,000
  • 0
    BEDS
  • 2.06
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 37,482
    SQFT
  • $80
    $/SQFT
Neighborhood:
Type:
Commercial
Built:
1979
County:

School Ratings & Info

Courtesy of Realty Executives Arizona Territory.

Description

Phenomenal investment opportunity to own the coveted El Alamo Plaza, a well-established retail and office commercial center located on a huge 2.06-acre lot in the heart of downtown Nogales! Located approximately 0.45 of a mile north of the international border, the plaza can be accessed by heading south on N. Grand Avenue (on way to Mexico) or by heading north on N. Arroyo Blvd (as leave Mexico). The property comprises 21 income producing units spread out over 37,482 square feet boasting 16 retail spaces, one big box retail, three office spaces, and one stand-alone hub. Established tenants include O'Reilly Auto Parts, Buffalo Exchange, PostNet Postal Service, Anda Laundry Mat, Dorado Staffing Services, Futuro Insurance, Medicare Community Resource Center, Lorigo Construction, ......Nueva Cosecha Ministries, Larriva Corporation, Smoke Emporium, Water Mill Express, and Geo's Nails, among others. O'Reilly Auto Parts lease is good through March 31st, 2024, with a four five-year option in place at a 5% increase and has exercised the lease through March of 2029. There is no landlord responsibility under agreement with O'Reilly Auto Parts! Additionally, O'Reilly Auto Parts covers 40% of the annual property taxes and 40% of the plaza's utilities! Buffalo Exchange is under a lease agreement through January 31st, 2026. Water Mill Express is a stand-alone hub under a lease agreement through October 31st, 2026. All occupied remaining units on month-to-month lease agreements. Income figures presented are based on 2022 actual figures. Rents are below market and have room to be increased!

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MLS of Southern Arizona (Tucson Association of Realtors) logo Listing information Copyright 2024 MLS of Southern Arizona. All Rights Reserved. Data last updated: 2024-12-04T00:07:50.677.
The data relating to real estate listings on this website comes in part from the Internet Data Exchange (IDX) program of Multiple Listing Service of Southern Arizona. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Listings provided by brokerages other than Tierra Antigua Realty are identified with the MLSSAZ IDX Logo. All Information Is Deemed Reliable But Is Not Guaranteed Accurate.
www.kinoabrams.com/homes/146205496
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441 N Grand Avenue Nogales, AZ 85621

  • Price: $3,000,000
  • Status: Active
  • On Site: Days
  • ID#: 22327313
0
Beds
0
Baths
0
½ Baths
2.06
Acres
37,482
SQFT
$80
$/SQFT
1979
Built
Neighborhood:
Scc-Nogales East
County:
Santa Cruz
Area:
Scc-Nogales East
Property Description
Phenomenal investment opportunity to own the coveted El Alamo Plaza, a well-established retail and office commercial center located on a huge 2.06-acre lot in the heart of downtown Nogales! Located approximately 0.45 of a mile north of the international border, the plaza can be accessed by heading south on N. Grand Avenue (on way to Mexico) or by heading north on N. Arroyo Blvd (as leave Mexico). The property comprises 21 income producing units spread out over 37,482 square feet boasting 16 retail spaces, one big box retail, three office spaces, and one stand-alone hub. Established tenants include O'Reilly Auto Parts, Buffalo Exchange, PostNet Postal Service, Anda Laundry Mat, Dorado Staffing Services, Futuro Insurance, Medicare Community Resource Center, Lorigo Construction, ......Nueva Cosecha Ministries, Larriva Corporation, Smoke Emporium, Water Mill Express, and Geo's Nails, among others. O'Reilly Auto Parts lease is good through March 31st, 2024, with a four five-year option in place at a 5% increase and has exercised the lease through March of 2029. There is no landlord responsibility under agreement with O'Reilly Auto Parts! Additionally, O'Reilly Auto Parts covers 40% of the annual property taxes and 40% of the plaza's utilities! Buffalo Exchange is under a lease agreement through January 31st, 2026. Water Mill Express is a stand-alone hub under a lease agreement through October 31st, 2026. All occupied remaining units on month-to-month lease agreements. Income figures presented are based on 2022 actual figures. Rents are below market and have room to be increased!
Exterior Features

Construction Slump Block Fence Split RailWrought Iron Landscape Front GradedLow CareShrubsTrees Landscape Rear GradedLow CareShrubsTrees Parking FreeParking LightsPaved ParkingPublic ParkingShared Road Type Paved Roof Built-Up - Reflect

Interior Features

Main Cooling Ceiling Fan(s)Central Air Main Heating Forced Air Water Heater Electric

Property Features

Accessibility Option EntryLevelWide Doorways Analysis Cap Rate Percent 6.20 Analysis Vacancy Rate Percent 14.28 Assessments 0.00 Business Location Commercial StripFree Standing BldgOffice/Professional Country USA Electric Electric Company Unisource Expenses Gas Electric 810.94 Expenses Insurance 14341.75 Expenses Other Expenses 35.00 Expenses Taxes Assessments 20448.46 Expenses Water Sewer 12442.89 Fema Flood Zone TBD Fire Protection Included in Taxes Freeway Highway Up to 1 Mile Gas Natural Income Adjusted Gross 237321.60 Income Gross Scheduled Rent 209528.85 Income Net Opp Income 189262.53 Income Other Income 27792.75 Lot Dimensions Irregular Lot Features East/West ExposureSubdivided Lot Sqft 89734.00 Multi Tenant Yes Municipal Flood Zone TBD Municipality Zoning Nogales - GC Property Disclosures Lead Based Paint Property Features Conference RoomSkylightSmoke DetectorStorageWet Bar Property Sub Type Retail Restrictions Deed Security Alarm InstalledSecurity Lights Sewer Connected Short Sale No Source Of Sqft Assessor Special Conditions None Tax Year 2022 Taxes 20448.46 Terms CashConventionalOwner CarrySubmit Total Parking 90 Traffic Count Unknown Unit Information Office Office Building Water City

Listing provided by Realty Executives Arizona Territory: (520) 207-0903. Listing information © 2024 MLS of Southern Arizona.


MLS of Southern Arizona (Tucson Association of Realtors) logo Listing information Copyright 2024 MLS of Southern Arizona. All Rights Reserved. Data last updated: 2024-12-04T00:07:50.677.
The data relating to real estate listings on this website comes in part from the Internet Data Exchange (IDX) program of Multiple Listing Service of Southern Arizona. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Listings provided by brokerages other than Tierra Antigua Realty are identified with the MLSSAZ IDX Logo. All Information Is Deemed Reliable But Is Not Guaranteed Accurate.
 
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Tierra Antigua Realty
1650 E River Road, Suite 202
Tucson AZ, 85718
Courtesy of Realty Executives Arizona Territory.