Sales Package (5.2 Acres

8655 E. Via De Ventura, Ste#G-200
Scottsdale, AZ 85258
480 | 922 | 2433 Ph 480 | 922 | 2434 Fax
Tolleson I-10 Commercial Land
For Sale — +/- 5.2 Acre Parcel
$4.50 PSF • C-2 Zoned • $1,019,304
ALL OFFERS CONSIDERED FOR QUICK CLOSING
N 91st Avenue & I-10
Tolleson, AZ 85353
To View Our Current Listings, Please Visit Our Website At:
www.suncommercialre.com
Exclusively listed by Sun Commercial Real Estate, Inc.:
Scottsdale, Arizona — 480 | 922 | 2433 Ph Michael Brazill
702-968-7306
MikeB@suncommercialre.com
Paul Miachika
602-814-0661
PaulM@suncommercialre.com
Cathy Jones, CCIM, CPA
702-968-7320
CathyJ@suncommercialre.com
SUN COMMERCIAL REAL ESTATE, INC.
CONFIDENTIALITY & DISCLOSURE
SUN COMMERCIAL REAL ESTATE, INC. (the “Broker”) has been retained on an exclusive basis to market
the property described herein (the “Property”). Broker has been authorized by the Seller of the Property (the
“Seller”) to prepare and distribute the enclosed information (the “Material”) for the purpose of soliciting offers
to purchase from interested parties. More detailed financial, title and tenant lease information may be made
available upon request following the mutual execution of a letter of intent or contract to purchase between
the Seller and a prospective purchaser. You are invited to review this opportunity and make an offer to purchase based upon your analysis. If your offer results in the Seller choosing to open negotiations with you, you
will be asked to provide financial references. The eventual purchaser will be chosen based upon an assessment of price, terms, ability to close the transaction and such other matters as the Seller deems appropriate.
The Material is intended solely for the purpose of soliciting expressions of interest from qualified investors for
the acquisition of the Property. The Material is not to be copied and/or used for any other purpose or made
available to any other person without the express written consent of Broker or Seller. The Material does not
purport to be all-inclusive or to contain all of the information that a prospective buyer may require. The information contained in the Material has been obtained from the Seller and other sources and has not been verified by the Seller or its affiliates. The pro forma is delivered only as an accommodation and neither the Seller,
Broker , nor any of their respective affiliates, agents, representatives, employees, parents, subsidiaries, members, managers, partners, shareholders, directors, or officers, makes any representation or warranty regarding such pro forma. Purchaser must make its own investigation of the Property and any existing or available
financing, and must independently confirm the accuracy of the projections contained in the pro forma.
Seller reserves the right, for any reason, to withdraw the Property from the market. Seller has no obligation,
express or implied, to accept any offer. Further, Seller has no obligation to sell the Property unless and until
the Seller executes and delivers a signed agreement of purchase and sale on terms acceptable to the Seller,
in its sole discretion. By submitting an offer, a purchaser will be deemed to have acknowledged the foregoing
and agreed to release Seller and Broker from any liability with respect thereto.
Property walk-throughs are to be conducted by appointment only. Contact Broker for additional information.
Cathy Jones
President
cathyj@suncommercialre.com
Table of Contents
Property Overview
Section 1
Property Summary
Property Photos
City of Tolleson Economic Development
Aerial Map - Surrounding Retailers
Hotel Development
Section 2
Hotel Development Proforma
Property Location
Section 3
Southwest Arizona Location Maps
Assessor Parcel & Aerial Maps
Market Review
Section 4
Area Demographics
The information contained herein was obtained from sources believed reliable, however, Sun Commercial Real Estate, Inc.,
makes no guarantees, warranties or representations as to the completeness and accuracy thereof. The presentation of this
property is subject to error, omissions, change of price or conditions prior to sale, or withdrawal without notice.
TOLLESON I-10 COMMERCIAL LAND
N 91ST AVE
PROPERTY SUMMARY
Property Description: The Property is a flat parcel, general commercial zoned (C-2) parcel with
a gross area of approximately 5.2 acres. Offering frontage along the
Eastbound I-10 Exit Ramp to N 91st Ave., this site provides tremendous
street visibility to traffic entering the City of Tolleson.
Property Location: The Property is located along the eastbound exit ramp for I-10 to N 91st
Ave. providing excellent exposure to the exit ramp and all lanes of Interstate 10. The Full Diamond exchange is just east of the property and
easy access to I-10 and Loop 101 is available.
The site is 3,500 feet north of the City of Tolleson’s $8.5M Downtown
Economic Development Project that was completed in November 2014.
North 91st Avenue is the main gateway to the downtown Tolleson area.
Tolleson Meadows, a new 173 homesite single family development, two
apartment communities totaling 492 units, and a new community park
and playground are within 1 mile of the property.
Utility Information: Utilities are to the curb or within the inside of the curb.
Assessor Parcel Number: 102-53-001G
Site Size - Acres: +/- 5.2 Gross Acres
Site Size - SF: +/- 226,512 Gross SF
+/- 217,800 Net SF
Zoning: C-2 (General Commercial) - City of Tolleson, AZ
Traffic Count: On N 91st Avenue, N. of I-10 Freeway - 25,000 cars per day
On I-10 Freeway - 195,000 cars per day
On Loop 101 and I-10/McDowell Road—129,000 cars per day
List Price: $1,019,304.00/$4.50 per Gross SF
The above information has been obtained from sources we believe to be reliable, however we do not take responsibility for its correctness
TOLLESON I-10 COMMERCIAL LAND
PROPERTY PHOTOS
TOLLESON I-10 COMMERCIAL LAND
CITY OF TOLLESON - ECONOMIC DEVELOPMENT
Downtown Tolleson recently received a makeover and the City is now revitalized. The project, titled
the “Paseo de Luces”, or “Path of Lights”, included improvements to Van Buren Street, from 91st to
96th Avenue, developing a vibrant destination environment with a true sense of place for the community.
91ST AVE
Some of the improvements include bike lanes, wide tree-shaded sidewalks, signage, landscaping,
lighting, street furnishings, and artwork in collaboration with West Valley Arts Council’s Gallery 37
Program. The goal is to develop Tolleson’s Downtown into an active, vibrant place to live, work,
play, and shop and eat. The Paseo de Luces improvements will provide an opportunity for Tolleson
to become recognized as a cultural destination.
AVE
VAN BUREN
VAN BUREN AVE
TOLLESON ENTERTAINMENT DISTRICT
The above information has been obtained from sources we believe to be reliable, however we do not take responsibility for its correctness
TOLLESON I-10 COMMERCIAL LAND
AERIAL MAP - SURROUNDING RETAILERS
SITE
TOLLESON ENTERTAINMENT DISTRICT
TOLLESON I-10 COMMERCIAL LAND
HOTEL DEVELOPMENT
The Tolleson I-10 Commercial Land parcel is an excellent opportunity for hotel development on a
5.2 acre parcel along Interstate 10 on the west side of Phoenix. It is highly suitable for an upper
mid-scale to upscale, limited service hotel. Hotel groups like this site for their category brands include Carlson, Hyatt, Choice, Wyndham and IHG. We are also talking to casual and fast-fast casual
restaurant brands to compliment the hotel.
Property Highlights:
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Site is on I-10 and N91st Ave diamond interchange, 200k cars per day on I-10
91st Ave is the gateway to the newly developed Tolleson Downtown Entertainment District
Hotel concept is for an 83 room upper-midscale to upscale, limited service hotel, such as
Country Inns or Candlewood Suites, occupying 2 – 3 acres.
The remainder of the parcel would be filled with restaurant, convenience and/or retail.
The city of Tolleson, who has jurisdiction on the site, has been extremely supportive of the
project.
There are no planned additions to the current hotel capacity in the market area.
A Hotel Feasibility Study is available supporting hotel development on the parcel. (available
upon request)
Hotel Development Summary
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Smith Travel Research Report of similar type area hotels just to the west of site shows 2014
avg occupancy heading for 65% and avg room rental rates at $112.00 per night.
Attached Pro Forma assumes occupancy at 60% and avg room rental rates at $102.00 per
night.
Total build out cost estimated at $7.7M using current contractor estimates and industry data.
Projected NOI is $649K at a 8.43% Cap Rate.
Assuming 70% financing at an annual debt service of 6%, ROI (cash) projected at $326k or
14.12% annually.
TOLLESON I-10 COMMERCIAL LAND
HOTEL DEVELOPMENT PROFORMA
Brand: Version: Category: Construc on: Rooms: Bldg SqFt: Land SF: Build Out Cost Hard Cost FF&E Incl OSE, Tel, Laundry, etc. Land So Cost TOTAL COST Opera ng Cost Projected Occupancy Rate Project Avg Room Rate Projected Opera ng Expense Rate Annual Room Nights Annual Occupied Rooms Gross Room Revenue Opera ng Expenses NOI CAP Rate Finance Cost Finance LTV Financed Amount Annual Loan Service Equity/Investment Return on Investment ROI % Limited Services, Upper Midscale Class 3 Story, S ck 83 47,000 87,120 Per Room Total 65,000.00 5,395,000.00 15,000.00 1,245,000.00 $7.50 7,872.29 653,400.00 4,819.28 400,000.00 92,691.57 7,693,400.00 60.0% 102.00 65.0% 30,295 18,177 1,854,054.00 1,205,135.10 648,918.90 8.43% 70% $ 5,385,380.00 6% $ 323,122.80 $ 2,308,020.00 $ 325,796.10 14.12% TOLLESON I-10 COMMERCIAL LAND
SOUTHWEST ARIZONA LOCATION MAPS
TOLLESON I-10 COMMERCIAL LAND
91ST AVE
91ST AVE
ASSESSOR PARCEL & AERIAL MAPS
TOLLESON I-10 COMMERCIAL LAND
AREA DEMOGRAPHICS (1 MILE RADIUS)
The above information has been obtained from sources we believe to be reliable, however we do not take responsibility for its correctness
TOLLESON I-10 COMMERCIAL LAND
AREA DEMOGRAPHICS (3 MILE RADIUS)
The above information has been obtained from sources we believe to be reliable, however we do not take responsibility for its correctness
TOLLESON I-10 COMMERCIAL LAND
AREA DEMOGRAPHICS (5 MILE RADIUS)
The above information has been obtained from sources we believe to be reliable, however we do not take responsibility for its correctness