2942 24Th StPhoenix, AZ 85016

This exceptional investment opportunity presents the Biltmore Office Plaza, a Class B office building located at 2942 N 24th St, Phoenix, AZ 85016, in Maricopa County. The property boasts 18,919 square feet and is zoned C-2. Originally constructed in 1974, the building underwent renovations in 2006. The asking price is $4,256,775, translating to $225 per square foot. Currently occupied by Plaza Executive Suites, a well-established operator of executive suites with a strong track record (ranked #7 in Ranking Arizona: Office Business Centers in 2022), a seven-year triple net leaseback with 3% annual increases is available upon closing. This presents a compelling opportunity for investors seeking a stable, long-term income stream in a prime Phoenix location. The tenant's portfolio includes multiple locations across the Phoenix MSA, demonstrating their established presence and operational expertise. The property's APN is 119-17-031. This is a traditional office building offering a unique combination of immediate income and future appreciation potential. The leaseback agreement provides a secure investment with built-in growth.