Lee B Farris - Commercial Real Estate Showcase

Lee B Farris Property Listings
President/Designated Broker
Farrmont Realty Group
3877 N 7th St
Suite 410
Phoenix, AZ 85014-5072
(602) 222-8510 x222
(602) 264-8966


Mr. Farris has been involved in the leasing, brokerage and property management field since 1974, beginning his career with Gerald D. Hines Interests in... More
Mr. Farris has been involved in the leasing, brokerage and property management field since 1974, beginning his career with Gerald D. Hines Interests in Houston, Texas. Mr. Farris opened the Grubb & Ellis Property Services office in Houston, Texas and was responsible for the implementation and development of all of the third party management capability in Texas. Mr. Farris has served as an independent commercial real estate broker, as well as Vice President of Leasing for a Houston developer. Mr. Farris successfully formed and administrated an REO division for a two billion dollar savings and loan in Austin, Texas. He has also opened and developed third-party management capabilities for other local and national firms over the years, including Trammell Crow, Perini Investment Properties, and Eagle Western Management Company. Mr. Farris has been involved in the management of office, retail, and industrial properties ranging in size from less than 25,000 square feet to more than 1,800,000 square feet. In addition, Mr. Farris has overseen portfolios of apartment projects in excess of 5,000 units and HOA portfolios of more than 10,000 homes and office condominium associations of more than 100 acres.

Mr. Farris formed FARRMONT Realty Group, Inc., AMO® in 1994, and has grown the company into a successful third-party property management company that develops, manages and leases properties throughout Arizona. Additionally, Mr. Farris has been an instructor at the Arizona School of Real Estate for the past seven years, was the 2007 President of the local chapter of the Institute of Real Estate Management (IREM), a member of two IREM National Committees, and a member of the Phoenix University Club Board of Directors. Mr. Farris is also a founding member of ReCom Global, a firm that provides REO services to financial institutions in Colorado, Texas, Arizona and California and a partner in Commercial Builders Alliance, a general contracting and tenant improvement company. Less 
DetailMap
4060 E Bell Road - Bella Angela Plaza - Tutor Time

Phoenix, AZ 85032-2232 - North Scottsdale Ret Submarket


Property Type:Retail Sub Type:Freestanding Status:Existing Year Built:2002
Building Size:11,444 SF Land Area:1.26 AC (54,886 SF)
For Sale Price:$4,500,000 Price/SF:$393.22
Cap Rate:7.50 %


01/04: Thomas & Mary Edwards Trust purchased the building. Single Net Properties represented the seller, Tutor Time Bell Group LLC.

This property consists of an (approx) 11,444 SF building with an 11,500 SF outdoor playground area.

Strategically located off Bell Road and 40th Street. Bell Road is one of the heaviest traveled roads in all of the Metro Phoenix area with an estimated 60,000 cars per day at this interseciton.

The site is across the street from Paradise Valley Regional Hospital and 1/4 mile from the recently completed Squaw Peak Freeway interchange. This site has excellent retail co-tenancy with Walgreens, Jack-in-the-Box, Village Inn and KFC Restaurant.

Sale Notes:
Single Story School Building With Attached Play Ground
Site is Approximately 52,000 SF or 0.84 Acres
± 11,444 SF Building with a ±11,500 SF Outdoor Playground Area
Year Built 2002
Sales Price $4,500,000
Annual Rent $327,715.08
CAP Rate 7.5
Remaining Term of Lease 8.5 Years
Rental Increases 3.0% per year
Absolute NNN, Guaranteed Lease

Strategically located off Bell Road and 40th Street a 1/4 mile from SR51, a major freeway artery in Phoenix, AZ. There are over 80,000 cars per day at this intersection and is one of the heaviest traveled roads in Metro Phoenix. This site has excellent retail co-tenancy with Walgreens, Village Inn, Jack-in-th-Box and KFC restaurant.

Other area properties include Paradise Valley High School, Paradise Valley Community College, Paradise Valley Hospital, Medical Centers, several Retail Centers, numerous restaurants and golf courses.

It is also located in a heavily populated residential area of Phoenix. Within this zip code there are approximately 12.4 sq. mi. and there are approximately 30,000 homes and condominiums. Population is in excess of 70,000 people. Renter-occupied apartments in excess of 12,000. Population density of over 5,600 per sq. mi.

Education; High school or higher: 85.0%, Bachelor's degree or higher: 27.3%, Graduate or professional degree: 8.4%.

Farrmont Realty Group
Lee B Farris
(602) 222-8510 x222




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