$4,500,000
Cave Creek, AZ 85331
MLS# 6760525
Status: Closed
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Property Description
Mixed use custom built retail complex with 3 bldgs in center of Cave Creek. Owner occupies 2/3 of the complex with 3 of it's businesses. The Hair Salon and Grotto Cafe are under 3rd party leases. CAP rate represents below market rates for owner's leases. All leases are modified gross at $24/ft, multi-year. Property is an extraordinary, custom built complex with unique features and grounds that make it the nicest property in Cave Creek. This would be highly desirable for an owner occupant looking for a retail location complemented by several solid tenants in place. $3 million assumable loan at 3.5% available. Financials, expenses, & leases available with acceptable LOI. Please do not talk with tenants
Details
Maps
Documents
Contract Info
Ownership: Fee Simple
Current Price: $4,500,000
Sold Price: $4,500,000
Status: Closed
List Date: 2024-09-04
Location, Tax & Legal
Assessor's Map #: 6
Legal Description (Abbrev): POR LOT 2 MCR 1332-33 AND PT SW4 SEC 27 DAF COM SE COR SD LOT 2 N 172.15F TH N 88D 54M W 169.77F TH
Assessor's Parcel #: 275
Add'l Parcels: No
Tax Municipality: Cave Creek
Census Tract: 30402
Taxes: 17281
Legal: POR LOT 2 MCR 1332-33 AND PT SW4 SEC 27 DAF COM SE COR SD LOT 2 N 172.15F TH N 88D 54M W 169.77F TH
Marketing Name: La Kanza
House Number: 6501
Compass: E
Street Name: Cave Creek
St Suffix: Road
City/Town Code: Cave Creek
State/Province: AZ
Zip Code: 85331
Zip4: 8683
County Code: Maricopa
Subdivision: La Kanza Plaza at Red Truck
Assessor Number: 216-06-275
Tax Year: 2024
General Property Description
Type of Property: Commercial Retail
Ttl Apx SqFt Bldg: 15500
Ttl Apx Net Rnt Spc: 15500
# of Buildings: 3
Uncvrd Parking Spcs: 105
Lot Size Dimensions: irregular
Flood Zone: Yes
Year Built: 2007
Zoning: CC
Legal Info
Range: 4E
Section: 27
Township: 6N
Lot Number: 2
Construction
Block: 1
Stucco: 1
Wood Frame: 1
Other: 1
Roofing
Foam: 1
Floors
Concrete: 1
Other: 1
Income & Expenses
Owner Association: No
Annual Ownr Asoc Fee: 0
Operating Exp: 17281
Other Income: 0
Vacancy Allowance: 0
Adjusted Gross Inc: 372000
Building Type
Commercial: 1
Business Type
Mixed: 1
Restaurant: 1
Retail: 1
Food Service: 1
Stories
1 Story: 1
Pmt & Rate Info
Cap Rate: 6.5
Down Payment: 1804000
Equity: 4798998
1st Encumbrance: 2995000
1st Interest Rate: 3.5
1st Years Remaining: 5
1st Payment: 14600
1st Payment Freq: Monthly
Total Owed: 2
Showing Notification Methods
Showing Service: No Showing Service Used
Email: 1
Phone Call: 1
Lockbox Type
None: 1
Ceiling Height
8.1 Feet to 10 Feet: 1
Heating
Natural Gas: 1
Heat Pump: 1
Other: 1
Cooling
Heat Pump: 1
Office A/C: 1
See Remarks: 1
Loading Facilities
Grade Level: 1
Exterior
Landscaping: 1
Building Sign: 1
Monument Sign: 1
Security Light(s): 1
Source of Fincl Data
Owner: 1
Traffic Count
Unknown: 1
Fencing
Partial: 1
See Remarks: 1
Water Source
City Franchise: 1
Domestic Well: 1
Freeway/Highway
1.1 - 2 Miles: 1
Sewer
Sewer - Public: 1
Parking Features
Private: 1
Electric
APS: 1
Gas
SW Gas: 1
New Financing
Cash Only: 1
Existing 1st Loan
Private: 1
Existing 2nd Loan
Treat as Free&Clear: 1
Existing 3rd Loan
Treat as Free&Clear: 1
Use Restrictions
Currently Leased: 1
Existing Easement(s): 1
Reports/Disclosures
Seller Prop Disc Stm: 1
Boundary Survey Avlb: 1
Well Disclosure: 1
None: 1
Environmental
None: 1
Existing Othr Ln Trm
Balloon/Call Prvisn: 1
Contact Info
List Agent Home Phn: 602-418-5079
Sold Info
Loan Type: Cash to Loan
Loan Years: 30
Payment Type: Balloon
Clsing Cost Split: Normal - N
Buyer Concession to Seller: 0
Buyer Concession $/%: $
Seller Concession to Buyer: 0
Seller Concession $/%: $
Remarks Misc
Cross Street: Cave Creek Rd & School House
Directions: Take Cave Creek Rd north of Carefree Hwy to 4 way stop at School House Rd. Continue East on Cave Creek Rd to the second set of buildings on the right or south side. Look for the Red Truck!
Geo Lat: 33.831937
Geo Lon: -111.941018
Status Change Info
Off Market Date: 2025-08-14
Under Contract Date: 2025-04-29
Close of Escrow Date: 2025-08-13
Sold Price: $4,500,000
Income Expenses
Gross Annual Sch Inc: 372000
Net Operating Income: 312000
Property Features
Building Type: Commercial
Business Type: Mixed; Restaurant; Retail; Food Service
Stories: 1 Story
Construction: Block; Stucco; Wood Frame; Other
Roofing: Foam
Floors: Concrete; Other
Ceiling Height: 8.1 Feet to 10 Feet
Heating: Natural Gas; Heat Pump; Other
Cooling: Office A/C; Heat Pump; See Remarks
Loading Facilities: Grade Level
Exterior: Landscaping; Building Sign; Monument Sign; Security Light(s)
Fencing: Partial; See Remarks
Parking Features: Private
Electric: APS
Gas: SW Gas
Water Source: City Franchise; Domestic Well
Sewer: Sewer - Public
New Financing: Cash Only
Showing Notification Methods: Email; Phone Call
Lockbox Type: None
Source of Fincl Data: Owner
Existing 1st Loan: Private
Existing 2nd Loan: Treat as Free&Clear
Existing 3rd Loan: Treat as Free&Clear
Existing Othr Ln Trm: Balloon/Call Prvisn
Traffic Count: Unknown
Use Restrictions: Currently Leased; Existing Easement(s)
Environmental: None
Lot Survey 
Listing Office: Property Management Real Estate
Last Updated: August - 14 - 2025
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