4331 12Th St Phoenix, AZ 85014

The Doyle Building, a 2,170 sq ft, single-story office building in Phoenix, AZ, offers a compelling investment opportunity. Built in 1973 and extensively renovated in 2022, this property boasts a 100% occupancy rate with three tenants generating a Net Operating Income (NOI) of $60,073, resulting in a 6.94% capitalization rate. The building features 10 surface parking spaces and is situated on a 7,841 sq ft lot zoned R-5. Recent improvements include new asphalt (2022), three new HVAC units (2019-2022), new landscaping (2022), and new exterior paint (2019). The interior underwent a full remodel in 2013. The three suites range in size, with Suite 101 offering 1,260 sq ft and Suites 102 & 103 each comprising 910 sq ft. Tenants are responsible for their own utilities (electric, phone, internet, and TV). This property is ideal for an owner-user seeking income generation from existing tenants, with the potential to occupy one suite while leasing the others. The building's prime location in Midtown Phoenix, near major freeways and desirable areas, ensures high visibility and accessibility. The asking price is $865,000. A 1031 exchange is possible.