4041 Central Ave Phoenix, AZ 85012

This exceptional value-add office investment opportunity in Phoenix, Arizona, presents a compelling case for investors seeking strong returns. The property, located at 4041 N Central Ave, comprises four buildings totaling 415,256 square feet, including a prominent 20-story tower and three smaller buildings. Currently boasting 71% occupancy, the property generates a substantial Net Operating Income (NOI) of $4,703,609. Built in 1981 and extensively renovated between 2021 and 2024, the property features a newly renovated main tower lobby and dedicated parking. The 5.73-acre lot is zoned C-3 and benefits from a weighted average lease term (WALT) of 5.2 years, anchored by a significant lease with Maricopa County extending for 25 years. 70% of occupied space is leased to AA+ credit tenants, including the US Government and Maricopa County. A strategic leasing plan is in place to increase occupancy by 4-5 full-floor leases and 6 smaller leases, projecting over $1.75 million in additional annual income. The property's prime location at the intersection of Uptown and Midtown Phoenix, within a rapidly growing area featuring new multi-family developments and the adjacent Central Park mixed-use project, ensures strong tenant demand. The existing assumable debt is fixed at a favorable 3.66% interest rate for five years, offering an exceptional cash-on-cash return in the high teens to 20%. This property offers a clear path to significant value appreciation and substantial cash flow. The property's Assesor's Parcel Number (APN) is 118-25-121B & 118-25-122.