450 S Hill Street

Description

FORMER HILL STREET SCHOOL IS UP FOR SALE: This is a building of poured concrete which is fully sprinkled. It consists of 3 floors, each with 10,000 sf on each floor, with ceilings between 10 & 14 feet tall. There is a large parking area on the property and the entire premises is just under 7/10 of an acre. FIRST FLOOR: On the first floor are a series of large rooms, one of which is padded, that was apparently used for wrestling when the school was in operation. Also on the first floor is a very large gymnasium & basketball court, with ceilings of 25 feet which extend to the top of the 2nd floor. Further, there is a large men's and women's bathroom and a shower room that would accommodate at least 6 people at a time. Additionally, at the end of the basketball court... CLICK MOREThere is a stage area and there are staircases in one side wall, leading to the second story of this structure. Finally, there are a variety of smaller rooms and within the FIRST FLOOR there could be a small cafe installed, along with a store selling a variety of items, similar to a Circle K or a 7/11 Store. SECOND FLOOR: There are 5 very large classrooms with end enclosed coat/supply closets and all the hardware of vintage character is intact here. A large room, overlooking Hill Street, is at the end of this floor and this could easily be turned into an apartment for a Caretaker. Also here are front and rear staircases to the ground floor and third floor. AN UNUSUAL FEATURE: There is a RUNNING TRACK extending above the Basketball Court, which is about 6 ft wide and apparently was used for this purpose. It is slanted slightly toward the center of the building and although it has supported persons walking across it, it is likely not safe and should probably be removed. THE RECOMMENDATION is provided here that this "RUNNING TRACK" should be removed and a full floor be erected by extending the flooring across this open space. this would provide significantly more space on the 2nd floor. THIRD FLOOR: There are six very large classrooms, again coat/supply closets on one end of each of these rooms. Tall ceilings of (rounded) 14 ft exist here and also staircases at the front and rear of this floor exist. SPECIAL FEATURES: ROOFING: A foam roof was installed on this former school and needs about $20k worth of work. There is a brochure in file, provided by the original company who installed this improvement, explaining the (a) materials and (b) processes used for this installation, which is available for inspection. ELECTRICAL SYSTEM: Up until 2 years ago, this building was leased for some 3 years as a Roller Skating Rink. Lessons in this sport were provided by a professional in the field and there was significant activity in this building. In essence, the full electrical system was in use here for this prior time period and met all needed codes. NATURAL GAS SYSTEM: At the time of the purchase of this former school, there was a very large GAS METER existing on the premises. It has been removed (but could be reinstalled, if this utility was needed) because the gas service here was not used/turned on for several years. Still existing in some rooms are overhead gas heaters for winter time use. WINDOW SITUATIONS: New double paned windows were installed around the front of the 3 stories near Hill Street. It is recommended that ALL NEW WINDOWS be installed on the remaining openings, when time permits. An inspection suggests that the old windows can be released from the concrete framing by removing the inside and outside surrounds and reinstalling new windows. In 2015, an estimate was received from THE HOME DEPOT store in Mesa, AZ to deliver, to the site, all the remaining windows, and this was stated at (rounded) $25,000. Installation expense would be above this figure and could be done with local labor. ELEVATOR POTENTIAL: About 5 years ago, an Elevator installation firm from Phoenix looked at the potential of installing a tower and walkways into each of the three floors of this facility. At one time, also discussed with officials of the CITY OF GLOBE was the prospect of abandoning the street on the right hand side of the structure, so as to be able to extend this ELEVATOR STRUCTURE into this area and also provide more direct parking to the building. This information was provided by a party familiar with the activities of the prior buyers, who failed to close escrow, resulting with the building coming on the market for the current owner. INTERESTING POTENTIAL FOR THIS BUILDING: WORKING WITH LOCAL SENIORS: There are NO CONDOMINIUM PROJECTS in Globe and only one "Over 55" project of Rental Apartments. To illustrate, within the last several years, I was stopped by a local citizen who indicated that if the former Hill Street School was ever turned into a residential facility, she would like to be able to live in the room where she was formerly taught "Arithmetic", "Mathematics or Calculus", so it appears that many Seniors could be attracted to this building, because of their former schooling there. NATIONAL REGISTER OF HISTORIC PLACES: This structure is NOT on the National Register, but should easily qualify, due to its age and community importance. The current owner inquired as this potential in 2016 and it was determined that a Historic Architect in Tucson could and would do this job for a fee somewhere around $2500. PLEASE SEE DOCUMENT SECTION - FOR OFFERING MEMORANDUM