441 N GRAND Avenue
Nogales, AZ, 85621 $ 3,000,000
Baths0.0 Sq 27,651 Monthly Estimate*
$ 19,939
Studio
for $3,000,000. This 27,651 square foot building was built in 1979 on a lot size of 1.27.
Phenomenal investment opportunity to own the coveted El Alamo Plaza, a well-established retail and office commercial center located on a huge 2.06-acrelot 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. 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, (see more...) 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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FeaturesGeneralSewer Public Sewer
Heating Natural Gas
Cooling Central A/C
Roof Built-Up
Zoning GC
Construction Materials Block
Year Built 1979
Township 24S
Tax Year 2020
Percent Ownership Fee Simple
Gross Income 201365.9
Business Type Retail Office Religious Facility Mixed Use
County Santa Cruz
Net Operating Income 186084.32
Operating Expense 13844.0
Property Type Comm/Industry Sale
Attached Garage N
Subdivision Name CITY OF NOGALES
Building Features Kitchen
Status Active
Directions Start 1-19 & N. Grand Avenue head South on N. Grand Avenue to address on left hand side.
City Nogales
Buyer Agent Compensation 3.00
Disclosures Seller Prop Disc Stm
View Y/N N
Open Parking Spaces 90.0
Lot Size Square Feet 55162.0
Carport Y/N N
Street Name GRAND
Tax Annual Amount 13844.0
Lease Renewal Y/N N
Lease Considered Y/N N
Rent Control Y/N N
Days on Market 130
Structure Type Commercial
Standard Status Active
Tax Lot 15
Cap Rate 6.2
Buyer Agent Compensation Type %
Ownership Fee Simple
Senior Community N
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InteriorFlooring Carpet Ceramic Tile Vinyl Concrete
Street Suffix Avenue
Electric On Property Y/N N
Total Baths 0
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ExteriorFencing None
Parking Features Paved Parking Public Parking Free
Water Source City Franchise
Total Parking 90.0
Lot Size Area 55162.0
Number of Buildings 21
Spa N
Lot Dimensions IRREGULAR
Lot Size Acres 1.27
Lot Size Units Square Feet
Covered Spaces 0.0
Crops Included Y/N N
Open Parking Y/N N
Irrigation Water Rights Y/N N
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* Excluded FeaturesList ByRealty Executives Arizona TerritoryBroker
Travis@thepottingergroup.comEmail
Affordability Calculator
- Monthly Principal & Interest
- $19,939
- Monthly Property Taxes
- $1,154
- Monthly Home Insurance
- --
Default based on a 30-year fixed rate of 6.99% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
Learn more about how to save NearbyCommerical listings in Nogales, AZ
Average List Price $1,287,500
Percent of Sale Price 57%
About Nogales, AZ 20,076 Population
-4% Since 2002
$ 28,352 Median Income
33.29 Median Age
37% Households with Children
Trends Information provided by ATTOM Data Solutions.
260072 Elementary School
263420 Middle School
Unknown High School High School
Pricing HistoryDate | Price | Price Change | Description |
---|
1/16/2024 | $3,000,000 | | Listed Price |